New Bedford Ocean Cluster Inc (EIN 871778078) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2021

Legal Domicile

Principal Officer

John Bullard

Phone

5084748902

Tax Period

2024-07-01 to 2025-06-30

New Bedford Ocean Cluster Inc, founded in 2021, is a small nonprofit in the Community Improvement sector that reported $554K in total revenue in fiscal year 2024. Revenue fell 23% from the prior year — a significant decline worth monitoring. Expenses of $722K exceeded revenue, resulting in a 30% operating deficit.

Mission

To establish New Bedford as the leading ocean economy on the East Coast

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $332,092

Program Service Revenue $221,487

Investment Income $74

Other Revenue $0

TOTAL REVENUE $553,653

Expense Breakdown

Grants Paid $0

Salaries & Benefits $362,428

Fundraising Expenses $104,666

Program Expenses $511,251

Other Expenses $359,518

TOTAL EXPENSES $721,946

Year-over-Year Comparison

	2024	2023	Change
Revenue	$553,653	$721,224	-0.2%
Expenses	$721,946	$838,840	-0.1%
Net Income	$-168,293	$-117,616	+0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

$177,185

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jennifer Downing	Executive Director	40.00	Key Emp	$162,948	$14,237	$177,185
Jennifer J Menard	Director	0.50	Director	$0	$0	$0
Christopher Rezendes	Director	0.50	Director	$0	$0	$0
Dale Leavitt	Director	0.50	Director	$0	$0	$0
Michael Quinn	Director	0.50	Director	$0	$0	$0
John Quinn	Director	0.50	Director	$0	$0	$0
Anthony R Sapienza	Director	0.50	Director	$0	$0	$0
Mandi Costa	Director	0.50	Director	$0	$0	$0
Cassie Canastra	Director	0.50	Director	$0	$0	$0
Liz Wiley	Director	0.50	Director	$0	$0	$0
Gordon Carr	Director	0.50	Director	$0	$0	$0
Jessica Trombly	Director	0.50	Director	$0	$0	$0
James Pimental	Director	0.50	Director	$0	$0	$0
Jennifer Cullen	Director	0.50	Director	$0	$0	$0
John Bullard	President	2.00	Officer Director	$0	$0	$0
Edward Anthes-Washburn	Vice President	1.00	Officer Director	$0	$0	$0
Scott Lima	Treasurer and Clerk	1.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$553,653	$721,946	$148,340	$-168,293
2024	$721,224	$838,840	$344,106	$-117,616
2023	$792,993	$461,284	$445,920	$331,709
2022	$507,137	$437,743	$337,599	$69,394

New Bedford Ocean Cluster Inc