Tin Can Sailors Inc
- Assets
- $665.4k
- Revenue
- $659.3k
- Investments
- $113.9k
- Employees
- 8
- Location
- Somerset, MA
- Founding
- 05/1983
- Data as of
- 09/2022
- EIN
- 04-2777916
Organization Overview
Tin Can Sailors Inc is located in Somerset, MA. The organization was established in 1983. According to its NTEE Classification (W19) the organization is classified as: Support N.E.C., under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2023, Tin Can Sailors Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tin Can Sailors Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Tin Can Sailors Inc generated $659.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $809.9k during the year ending 09/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Tin Can Sailors Inc has awarded 68 individual grants totaling $594,318. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ORGANIZATION'S PRIMARY EXEMPT PURPOSE IS TO RESTORE OR IMPROVE DESTROYERS WITH MUSEUM STATUS
Describe the Organization's Program Activity:
Part 3 - Line 4a
GRANTS WERE GIVEN TO MAINTAIN, RESTORE OR IMPROVE DESTROYERS WITH MUSEUM STATUS.
BULL SESSIONS, ANNUAL CONVENTIONS AND QUARTERLY MAGAZINE ENCOURAGE COMARADERIE AMONG PAST & PRESENT DESTROYER MEN AND ENHANCE THEIR KNOWLEDGE & SUPPORT OF THE U.S. NAVY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Miller President | Officer | 10 | $0 |
Ed Taicsich Director | OfficerTrustee | 2 | $0 |
Roger Novak Vice President | Officer | 1 | $0 |
Meghan Rathbun Director | OfficerTrustee | 1 | $0 |
Hugh Doyle Director | OfficerTrustee | 1 | $0 |
Kenneth Millett Treasurer/clerk | Officer | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $311,194 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $207,761 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $518,955 |
| Total Program Service Revenue | $4,220 |
| Investment income | $1,991 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $10,303 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $659,268 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $46,995 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $157,267 |
| Compensation of current officers, directors, key employees. | $143,529 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $170,896 |
| Pension plan accruals and contributions | $5,673 |
| Other employee benefits | $14,854 |
| Payroll taxes | $25,318 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,345 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $41,025 |
| Information technology | $13,570 |
| Royalties | $0 |
| Occupancy | $56,925 |
| Travel | $161 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,165 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,866 |
| Insurance | $7,928 |
| All other expenses | $44,483 |
| Total functional expenses | $809,856 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $138,328 |
| Savings and temporary cash investments | $302,720 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $53,509 |
| Prepaid expenses and deferred charges | $2,922 |
| Net Land, buildings, and equipment | $53,970 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $113,878 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $665,397 |
| Accounts payable and accrued expenses | $66,879 |
| Grants payable | $0 |
| Deferred revenue | $62,987 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $129,866 |
| Net assets without donor restrictions | $526,452 |
| Net assets with donor restrictions | $9,079 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $665,397 |
Grants Awarded
Over the last fiscal year, Tin Can Sailors Inc has awarded $19,395 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
USS MASSACHUSETTS MEMORIAL COMMITTEE PURPOSE: GRANT | $0 |
BREMERTON SHIPS ASSOCIATION PURPOSE: GRANT | $0 |
USS KIDD COMMISSION PURPOSE: GRANT | $0 |
HISTORICAL NAVAL SHIPS ASSOCIATION PURPOSE: GRANT | $0 |
DESTROYER ESCORT HISTORICAL MUSEUM(USS SLATER) PURPOSE: GRANT | $0 |
SAGINAW VALLEY NAVAL SHIP MUSEUM PURPOSE: GRANT | $9,395 |