Overview
What is Massachusetts Maritime Academy Foundation Inc?
Massachusetts Maritime Academy Foundation Inc is a charitable organization situated at 101 Academy Drive, Buzzards Bay, MA 02532. Its primary mission is to improve the academic standing and overall quality of life for the cadets at the Massachusetts Maritime Academy. They achieve this by raising and managing private funds, aiming to boost the leadership skills of their graduates. Significantly, the foundation provides scholarships and financial aid to students, thereby contributing to their educational journey.
Official website here: www.maritime.edu
What are the reviews and ratings of this charity?
**Rating: 4-Star out of Four Stars (97%) from Charity Navigator**
The Massachusetts Maritime Academy Foundation Inc has achieved an impressive 97% rating from Charity Navigator, indicating strong accountability and finance practices. The organization has a fully independent board and robust financial oversight measures in place, which reflect its commitment to transparency and responsible management of funds.
With a program expense ratio of 85.88%, the foundation allocates a significant portion of its resources directly to its mission. Furthermore, the foundation demonstrates effective fundraising practices, evidenced by a very low fundraising efficiency ratio. This highlights the organization’s capability in maximizing funding for its core activities, thereby ensuring that its initiatives have a direct impact.
However, it is worth noting that the organization has not been scored in areas such as impact measurement, culture, community, leadership, and adaptability. This signifies a potential limitation in understanding the broader efficacy of its programs beyond financial metrics. Unfortunately, user reviews from GreatNonprofits are currently not available to provide additional insights into community sentiment or experiences.
This AI summary has been generated from information found on Charity Navigator.
Is Massachusetts Maritime Academy Foundation Inc legitimate?
Massachusetts Maritime Academy Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Massachusetts Maritime Academy Foundation Inc 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:
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.maritime.edu
What is the mission statement of Massachusetts Maritime Academy Foundation Inc?
The Massachusetts Maritime Academy Foundation's mission is focused on enhancing the academic standing and quality of life of its cadets. To achieve this, the foundation raises and manages private funds to support the mission of the Massachusetts Maritime Academy. The primary objective of the foundation is to provide scholarships and financial contributions to students attending the academy. The foundation also handles expenses related to receiving and accounting for donations.
Official website here: www.maritime.edu
Who is the CEO of Massachusetts Maritime Academy Foundation Inc?
Elizabeth Simmons is the Chair of Massachusetts Maritime Academy Foundation Inc.
Official website here: www.maritime.edu
What is the revenue of Massachusetts Maritime Academy Foundation Inc?
Massachusetts Maritime Academy Foundation Inc's revenue in 2022 was $7,083,053.
Official website here: www.maritime.edu
Who are the executives of Massachusetts Maritime Academy Foundation Inc and what are their salaries?
There 117 volunteers at Massachusetts Maritime Academy Foundation Inc.
Here are 29 key members and their salaries:
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Official website here: www.maritime.edu
Where can I find the form 990 for Massachusetts Maritime Academy Foundation Inc?
Massachusetts Maritime Academy Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.maritime.edu
Learn more at the official website: www.maritime.edu
Mission Statement of Massachusetts Maritime Academy Foundation Inc
The Massachusetts Maritime Academy Foundation's mission is centered around promoting the well-being and academic excellence of its cadets. This nonprofit organization strives to achieve this goal by raising and managing private funds, aiming to enhance the leadership qualities of its graduates. At the heart of its mission is the provision of scholarships to students attending the Massachusetts Maritime Academy. Furthermore, the foundation manages expenses related to the receipt and accounting of donations, ensuring that these funds are utilized effectively in support of the academy's mission.
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Impact
October, 2024
Massachusetts Maritime Academy Foundation Inc significantly enhances the academic experience and quality of life for the regiment of cadets at Massachusetts Maritime Academy. By generating and managing private funds, the foundation supports scholarships that ease the financial burden on students, enabling them to focus on their education and leadership development. The impact of these scholarships not only facilitates access to higher education but also underscores the foundation’s commitment to cultivating preeminent leadership qualifications among graduates. Moreover, through its contributions, the foundation fosters a supportive environment that enriches the overall mission of the academy, ensuring that cadets are well-prepared for their future roles in maritime industries and beyond.
This information is meant to be a general summary of Massachusetts Maritime Academy Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,733,343
- Gross Receipts: $20,086,062
Assets and Liabilities:
- Total Assets: $42,100,464
- Total Liabilities: $253,474
- Net Assets: $41,846,990
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Organization Details
Founding Year
1968
Phone
(508) 830-5099Principal Officer
Elizabeth Simmons
Main Address
101 ACADEMY DRIVE, BUZZARDS BAY, MA, 025321803
Website
www.maritime.eduNTEE Category
Code: B42I - Education
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