Northwest Maritime Advisory Services dba Marine Exchange of Puget Sound

EIN: 911125021

Seattle, WA

Total Revenue
$1,570,323
Total Expenses
$1,652,421
Total Assets
$686,238
Net Assets
$611,588
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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
1980
Legal Domicile
WA
Principal Officer
Patrick J Gallagher
Phone
2064487557
Tax Period
2024-01-01 to 2024-12-31

Northwest Maritime Advisory Services dba Marine Exchange of Puget Sound, founded in 1980, is a community nonprofit that reported $1.6M in total revenue in fiscal year 2024. Revenue grew 13% year-over-year, indicating healthy expansion.

Mission

MONITORING, COORDINATING, COMMUNICATING, ASSISTING AND REPORTING DATA FOR VESSELS ASSOCIATIONS IN THE MARITIME INDUSTRY

Program Service Accomplishments

Program 1

VESSEL REPORTING AND MONITORING SERVICES, COLLECT, EXCHANGE, AND DISSEMINATE INFORMATION VITAL TO COORDINATING THE ARRIVAL AND DEPARTURE OF WATERBORNE COMMERCE IN WESTERN WASHINGTON.

Program 2

TELEPHONE, RADIO, AND TELETYPE COMMUNICATIONS SERVICES TO IMPROVE THE COORDINATION OF INFORMATION EXCHANGED BETWEEN SHIP AND SHORE.

Program 3

DISSEMINATION OF REPORTS, STATISTICS, AND VESSEL INFORMATION TO ASSOCIATION MEMBERS THROUGH0UT THE COUNTRY.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $1,563,638
Investment Income $14,531
Other Revenue $-7,846
TOTAL REVENUE $1,570,323

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,193,086
Fundraising Expenses $0
Other Expenses $459,335
TOTAL EXPENSES $1,652,421

Year-over-Year Comparison

2024 2023 Change
Revenue $1,570,323 $1,394,752 +0.1%
Expenses $1,652,421 $1,498,396 +0.1%
Net Income $-82,098 $-103,644 -0.2%
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

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Governance

Voting Members
8
Independent Members
8
Employees
12
Volunteers
N/A

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
3
$130,971
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Patrick J Gallagher Executive Dir. 40.00
Officer
$130,971 $0 $130,971
Cynthia E Reed Acting Secretary/Treasurer 40.00
$127,809 $0 $127,809
Joseph Tabisola Director 2.00
Director
$0 $0 $0
John Fife Director 2.00
Director
$0 $0 $0
Jim Peschel Director 2.00
Director
$0 $0 $0
John Lockwood Director 2.00
Director
$0 $0 $0
Randy Click President 10.00
Officer Director
$0 $0 $0
Berit Erickson Director 2.00
Director
$0 $0 $0
Jack Harmon Vice President 2.00
Officer Director
$0 $0 $0
Kevin King Director 2.00
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
2024 $1,570,323 $1,652,421 $686,238 $-82,098
2023 $1,394,781 $1,498,396 $768,673 $-103,615
2022 $1,345,245 $1,232,528 $869,496 $112,717
2021 $1,229,720 $1,163,799 $748,144 $65,921
2020 $1,152,843 $1,261,172 $541,014 $-108,329
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