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Massachusetts Maritime Academy Foundation

Buzzards Bay, MA · EIN 23-7025807 · 501(c)(3) · Publicly supported organization (509(a)(2))
Latest filing: Form 990 for the fiscal year ending June 30, 2025 (tax year 2024) · View the filing · Correct or respond

Massachusetts Maritime Academy Foundation reported $11.3 million in revenue and $4.2 million in expenses for the fiscal year ending June 30, 2025. Of every $100 it spent, $93.26 went to program services, $6.74 to management and general costs and $0.00 to fundraising. Its largest source of revenue was investment income: 54.2% of the total. The highest compensation it reported for one person was $267,339 (VP OF EXTERNAL AFFAIRS). Revenue rose 97% between FY2020 and FY2025. Source: Form 990, FY2025.

Where $100 of spending went

The fiscal year ending June 30, 2025 · Form 990, Part IX, line 25 · total expenses $4.2M

Program services$93.26 $4.0M
Management & general$6.74 $286K
Fundraising$0.00 $0

For context, the median across 5,499 covered education charities: $85.56 programs, $13.59 management, $0.85 fundraising (medians computed separately, so they may not sum to $100).

Where $100 of revenue came from

The fiscal year ending June 30, 2025 · Form 990, Part VIII · total revenue $11M

Contributions & grants (non-government)$38.61 $4.4M
Government grants$4.92 $556K
Investment income$54.18 $6.1M
Other revenue$2.29 $258K

The 990 scorecard · same measures for every charity, no grades

FY2025 filing. Median across 5,499 covered charities in this category, from their latest filings.
Measure	FY2025	Median
Program services Part IX 25(B) ÷ 25(A)	93.3%	84.4%
Management & general Part IX 25(C) ÷ 25(A)	6.7%	13.4%
Fundraising Part IX 25(D) ÷ 25(A)	0.0%	0.8%
Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h	$0.00	$0.04
Contributions & grants share of revenue Part VIII 1h ÷ 12	43.5%	19.1%
Government grants share of revenue Part VIII 1e ÷ 12	4.9%	1.1%
Program service revenue share Part VIII 2g ÷ 12	0.0%	69.9%
Highest reported compensation Part VII-A, columns D–F	$267,339	$331,578
Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A)	6.29%	1.28%
People paid over $100,000 Part VII, line 2	0	8
Net assets, in months of expenses Part X 33(B) ÷ monthly expenses	219.8	13.3
Independent voting board members Part VI 1a–1b	24 of 24	100.0%

A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.

What the money paid for, in its own words

FY2025 · Form 990, Part III · the three largest programs by expense

$4.0M expenses · 100.0% of program spending · grants $4.0M

Scholarships awarded to academy students and expenses related to receiving and accounting for donations

Highest reported compensation

FY2025 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here

Role	From this org	From related orgs	Other	Total
VP OF EXTERNAL AFFAIRS Officer, 1.0 hrs/week	$0	$188,267	$79,072	$267,339

0 people received more than $100,000 in reportable compensation from Massachusetts Maritime Academy Foundation (Part VII, line 2). Compensation of current officers, directors and key employees totaled $0 (Part IX, line 5).

6 years of filings

Form 990, Parts I, VII, IX and X · each row is that year's own filing, linked

RevenueExpenses

Filing	Revenue	Expenses	Programs	Net assets	Top pay
FY2025 ⓘ	$11M	$4.2M	93.3%	$78M	$267,339
FY2024 ⓘ	$15M	$6.6M	95.7%	$71M	$178,883
FY2023 ⓘ	$13M	$1.7M	87.9%	$56M	$175,238
FY2022 ⓘ	$7.1M	$1.5M	86.1%	$42M	$175,850
FY2021 ⓘ	$4.8M	$888K	81.6%	$40M	—
FY2020 ⓘ	$5.7M	$1.3M	89.5%	$32M	—

Governance answers, as filed

FY2025 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means

Voting board members, and how many are independent Part VI, lines 1a–1b24 · 24 independent
Audited financial statements Part XII 2bYes
Conflict-of-interest policy Part VI 12aYes
Whistleblower policy Part VI 13Yes
Document retention policy Part VI 14Yes
Independent process for top executive pay Part VI 15aNo
Board given the 990 before filing Part VI 11aYes
Family or business ties among insiders Part VI 2No
Aware of a significant diversion of assets Part VI 5No
Excess benefit transaction with an insider Part IV 25aNo
Loans to or from insiders outstanding Part IV 26No
Lobbying, or a 501(h) election in effect Part IV 4No
Over $15,000 of professional fundraising services Part IV 18No
Over $10,000 of activity outside the U.S. Part IV 14bNo
Employees Part I, line 50
Volunteers Part I, line 650

Private foundation grants it received

3 private foundations reported grants to Massachusetts Maritime Academy Foundation totaling $3,961 on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.

Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.

Correct a figure or respond

Every number above is copied from Massachusetts Maritime Academy Foundation's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Massachusetts Maritime Academy Foundation, you can publish a response that is linked from this page.

Report a correction Respond as Massachusetts Maritime Academy…How this works

Similar-sized charities in this cause

Southeastern Louisiana University Foundation
Hammond, LA · revenue $11M · programs 90.3% · FY2025
Newton Montessori School
Newton Centre, MA · revenue $11M · programs 72.5% · FY2025
University of Central Ar Foundation
Conway, AR · revenue $11M · programs 86.7% · FY2025
Capitol Hill Day School
Washington, DC · revenue $11M · programs 81.1% · FY2025
Aam Foundation
Novato, CA · revenue $11M · programs 87.4% · FY2025

All education charities · Largest charities in Massachusetts

Questions people ask

How much of Massachusetts Maritime Academy Foundation's spending goes to programs?

In the fiscal year ending June 30, 2025, Massachusetts Maritime Academy Foundation reported that 93.3% of its $4.2 million in expenses went to program services, 6.7% to management and general and 0.0% to fundraising (Form 990, Part IX).

How much does Massachusetts Maritime Academy Foundation pay its top executive?

The largest total compensation Massachusetts Maritime Academy Foundation reported for one person in the fiscal year ending June 30, 2025 was $267,339, for the role of VP OF EXTERNAL AFFAIRS (Form 990, Part VII, including compensation from related organizations and other compensation).

Where does Massachusetts Maritime Academy Foundation get its money?

Of $11.3 million in revenue in the fiscal year ending June 30, 2025, 43.5% came from contributions and grants (including 4.9% from government grants) and 0.0% from program service revenue (Form 990, Part VIII).

Is Massachusetts Maritime Academy Foundation a registered charity?

The IRS lists EIN 23-7025807 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.

Sources

FY2025: Form 990 for the fiscal year ending June 30, 2025, object 202630309349300928 · read the filing · XML
FY2024: Form 990 for the fiscal year ending June 30, 2024, object 202510639349300436 · read the filing
FY2023: Form 990 for the fiscal year ending June 30, 2023, object 202400369349300685 · read the filing
FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202310699349300911 · read the filing
FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202200109349301650 · read the filing
FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202043589349300219 · read the filing

All filings for EIN 23-7025807: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.