St Marys College Of Maryland Boat Foundation Inc
- Assets
- $900.6k
- Revenue
- -$29.0k
- Investments
- $0.0
- Employees
- 0
- Location
- St Marys City, MD
- Founding
- 01/2001
- Data as of
- 06/2022
- EIN
- 52-2237977
Organization Overview
St Marys College Of Maryland Boat Foundation Inc is located in St Marys City, MD. The organization was established in 2001. According to its NTEE Classification (N70) the organization is classified as: Amateur Sports Competitions, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Marys College Of Maryland Boat Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF ST MARY'S COLLEGE OF MARYLAND BOAT FOUNDATION IS TO SUPPORT THE BOATING AND SAILING PROGRAM OF ST. MARY'S COLLEGE OF MARYLAND, AND TO PROVIDE THE RESOURCES TO FURTHER EDUCATION AND TRAINING ON THE WATER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BOAT FOUNDATION PROVIDES BROAD SUPPORT TO ST MARY'S COLLEGE OF MARYLAND WATERFRONT PROGRAMS. DIRECT SUPPORT INCLUDES THE PROVIDING OF VESSELS, REPAIRS AND INSURANCE OF FOUNDATION BOATS. PROGRAMMING INCLUDES SAIL TRAINING FOR STUDENTS ACROSS MANY PLATFORMS AND OPPORTUNITIES FOR ENTERING INTO COMPETITIONS USING THE BOAT FOUNDATIONS VESSELS. DAILY TRAINING AT THE COLLEGE IS SUPPORTED BY ALL OF THE FOUNDATION'S SAILBOATS. THE ASSISTANT VARSITY SAILING COACH POSITION SALARY IS FUNDED BY THE BOAT FOUNDATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Ward Secretary | OfficerTrustee | 0.5 | $0 |
Barry Friedman Treasurer | Officer | 0.5 | $0 |
Clarke Mckinney Director | Officer | 0.5 | $0 |
Robert Waldschmitt President | Officer | 0.5 | $0 |
Carolyn Curry Executive Director | Officer | 1 | $0 |
Adam Werblow Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,000 |
| Noncash contributions included in lines 1a–1f | $6,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,000 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | -$35,050 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$29,050 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,878 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,266 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,500 |
| Advertising and promotion | $0 |
| Office expenses | $27 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $121,765 |
| Insurance | $20,678 |
| All other expenses | $0 |
| Total functional expenses | $227,388 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $70,863 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $501,345 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $328,367 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $900,575 |
| Accounts payable and accrued expenses | $6,249 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $6,249 |
| Net assets without donor restrictions | $894,326 |
| Net assets with donor restrictions | $0 |
| 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 | $900,575 |
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