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Institute for Shipboard Education

Fort Collins, CO · EIN 95-3075415 · 501(c)(3) · School
Latest filing: Form 990 for the fiscal year ending May 31, 2025 (tax year 2024) · View the filing · Correct or respond

Institute for Shipboard Education reported $44.3 million in revenue and $42.1 million in expenses for the fiscal year ending May 31, 2025. Of every $100 it spent, $85.01 went to program services, $11.49 to management and general costs and $3.50 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 85.8% of the total. The highest compensation it reported for one person was $364,680 (TRUSTEE, PRESIDENT AND CEO). 12 people received more than $100,000 in reportable compensation. Revenue rose 14% between FY2020 and FY2025. Source: Form 990, FY2025.

Where $100 of spending went

The fiscal year ending May 31, 2025 · Form 990, Part IX, line 25 · total expenses $42M

Program services$85.01 $36M
Management & general$11.49 $4.8M
Fundraising$3.50 $1.5M

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 May 31, 2025 · Form 990, Part VIII · total revenue $44M

Contributions & grants (non-government)$9.21 $4.1M
Program service revenue$85.85 $38M
Investment income$4.60 $2.0M
Other revenue$0.34 $152K

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)	85.0%	84.4%
Management & general Part IX 25(C) ÷ 25(A)	11.5%	13.4%
Fundraising Part IX 25(D) ÷ 25(A)	3.5%	0.8%
Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h	$0.36	$0.04
Contributions & grants share of revenue Part VIII 1h ÷ 12	9.2%	19.1%
Government grants share of revenue Part VIII 1e ÷ 12	0.0%	1.1%
Program service revenue share Part VIII 2g ÷ 12	85.8%	69.9%
Highest reported compensation Part VII-A, columns D–F	$364,680	$331,578
Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A)	0.87%	1.28%
People paid over $100,000 Part VII, line 2	12	8
Net assets, in months of expenses Part X 33(B) ÷ monthly expenses	10.7	13.3
Independent voting board members Part VI 1a–1b	17 of 18	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

$25M expenses · 70.8% of program spending · grants $5.6M · revenue $38M

The institute delivers two voyage semesters each year - a fall voyage and a spring voyage. These voyages typically last between 100-110 days. Undergrad, gap year, and graduate students take college level courses that are taught by esteemed faculty and sponsored by our academic partner colorado state university. Each voyage typically will travel to 10-12 countries and visit multiple continents

$10M expenses · 29.2% of program spending · revenue $307K

Every few years, the institute will operate alumni voyage events between its traditional voyage semesters. These tend to be shorter cruises ranging from 1 to 10 days to engage our alumni, staff, and friends of the program

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
TRUSTEE, PRESIDENT AND CEO Director/trustee, officer, 40.00 hrs/week	$308,856	$0	$55,824	$364,680
CFO/VP OF FINANCE Officer, 40.00 hrs/week	$222,301	$0	$49,703	$272,004
VP OF MARKETING AND RECRUITMENT Highest compensated employee, 40.00 hrs/week	$190,167	$0	$47,453	$237,620
CPO/VP OF STUDENT AFFAIRS Highest compensated employee, 40.00 hrs/week	$180,677	$0	$25,158	$205,835
VP OF ADVANCEMENT Highest compensated employee, 40.00 hrs/week	$174,161	$0	$24,756	$198,917
VP OF HUMAN RESOURCES Highest compensated employee, 40.00 hrs/week	$147,940	$0	$44,409	$192,349
CONTROLLER Highest compensated employee, 40.00 hrs/week	$120,258	$0	$42,395	$162,653

12 people received more than $100,000 in reportable compensation from Institute for Shipboard Education (Part VII, line 2). Compensation of current officers, directors and key employees totaled $643K (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 ⓘ	$44M	$42M	85.0%	$38M	$364,680
FY2024 ⓘ	$43M	$41M	83.5%	$34M	$352,378
FY2023 ⓘ	$39M	$39M	86.9%	$31M	$360,038
FY2022 ⓘ	$21M	$25M	83.1%	$31M	$300,538
FY2021 ⓘ	$5.8M	$14M	70.7%	$36M	$271,501
FY2020 ⓘ	$39M	$36M	85.8%	$42M	$295,019

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–1b18 · 17 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 15aYes
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 14bYes
Employees Part I, line 5194
Volunteers Part I, line 619

Largest outside contractors

FY2025 · Form 990, Part VII, Section B · businesses only

BERNHARD SCHULTE CRUISE SERVICES GMBH & Ship technical management	$12,962,856
SHIP MANAGEMENT GROUP LLC Ship hotel management	$3,819,645
COLORADO STATE UNIVERSITY University partner	$915,218
ABERCROMBIE & KENT SAFARIS (PTY) LTD Travel	$829,743

Individuals listed as contractors are left out. 23 contractors were paid more than $100,000 in all.

Private foundation grants it received

16 private foundations reported grants to Institute for Shipboard Education totaling $1.6M 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 Institute for Shipboard Education's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Institute for Shipboard Education, you can publish a response that is linked from this page.

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Similar-sized charities in this cause

Oglala Lakota College
Kyle, SD · revenue $44M · programs 79.9% · FY2025
Euphemia L Haynes Public Charter School
Washington, DC · revenue $44M · programs 94.5% · FY2025
Youth Guidance
Chicago, IL · revenue $44M · programs 81.6% · FY2025
The Williston Northampton School
Easthampton, MA · revenue $44M · programs 79.7% · FY2025
Arkansas Virtual Academy
Little Rock, AR · revenue $44M · programs 77.3% · FY2025

All education charities · Largest charities in Colorado

Questions people ask

How much of Institute for Shipboard Education's spending goes to programs?

In the fiscal year ending May 31, 2025, Institute for Shipboard Education reported that 85.0% of its $42.1 million in expenses went to program services, 11.5% to management and general and 3.5% to fundraising (Form 990, Part IX).

How much does Institute for Shipboard Education pay its top executive?

The largest total compensation Institute for Shipboard Education reported for one person in the fiscal year ending May 31, 2025 was $364,680, for the role of TRUSTEE, PRESIDENT AND CEO (Form 990, Part VII, including compensation from related organizations and other compensation).

Where does Institute for Shipboard Education get its money?

Of $44.3 million in revenue in the fiscal year ending May 31, 2025, 9.2% came from contributions and grants and 85.8% from program service revenue (Form 990, Part VIII).

Is Institute for Shipboard Education a registered charity?

The IRS lists EIN 95-3075415 as a 501(c)(3) organization (school), 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 May 31, 2025, object 202600719349300820 · read the filing · XML
FY2024: Form 990 for the fiscal year ending May 31, 2024, object 202541059349302424 · read the filing
FY2023: Form 990 for the fiscal year ending May 31, 2023, object 202441049349300744 · read the filing
FY2022: Form 990 for the fiscal year ending May 31, 2022, object 202341049349300639 · read the filing
FY2021: Form 990 for the fiscal year ending May 31, 2021, object 202220529349301152 · read the filing
FY2020: Form 990 for the fiscal year ending May 31, 2020, object 202110899349300711 · read the filing

All filings for EIN 95-3075415: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.