Cohasset Maritime Institute

Charity Navigator Rating: 43%

Cohasset Maritime Institute has received a low score of 43%, resulting in a Zero-Star out of Four Star rating. This rating indicates significant concerns regarding the organization's accountability and financial practices. The lack of independent board members and missing essential policies, such as a whistleblower and document retention policy, further highlight deficiencies in governance.

The organization demonstrates a positive aspect with no material diversion of assets, indicating that funds are utilized appropriately. However, the absence of transparency, exemplified by the missing website and failure to post tax forms, raises questions about the overall management of the nonprofit. Additionally, while the program expense ratio is over 58%, which shows that more than half of their expenses go towards program activities, the low score in other financial accountability areas detracts from this positive note.

Overall, while Cohasset Maritime Institute appears to direct a reasonable portion of its resources toward its mission, the significant gaps in governance and transparency pose risks to potential donors and stakeholders. Those considering support should weigh these factors carefully in light of the organization's current rating.

This AI summary has been generated from information found on Charity Navigator.

Cohasset Maritime Institute is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cohasset Maritime Institute submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Heare are some key statistics you may want to consider:

Executive Compensation: $4,325
Professional Fundraising Fees: $0
Other Salaries and Wages: $102,902

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