Overview
What is Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc?
Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc is a small-scale nonprofit organization based in Stamford, Connecticut. With a focus on fostering future maritime professionals, they offer various financial aid and program initiatives to support maritime education. Their programs encompass scholarships, internships with stipends, career days, and the Business of Shipping Competition. These initiatives aim to empower and prepare students for careers in the maritime sector.
Official website here: www.cma-edu.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: One-Star out of Four Stars (53%)
The Cma Education Foundation has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and finance. The overall score, which stands at 53%, is primarily based on factors related to financial practices and governance. While the organization boasts a fully independent board and demonstrates good asset management with no material diversion of assets, it suffers from several critical deficiencies in its governance policies.
A notable weakness in the foundation's operations is the absence of key policies, including a conflict of interest policy, a whistleblower policy, and a document retention and destruction policy, which received a score of zero out of seven points in each area. These missing elements raise questions about the organization's commitment to transparency and ethical governance, which are essential for building trust with donors and stakeholders.
Despite these shortcomings, the foundation does maintain a reasonable program expense ratio of 51.72%, indicating that over half of its expenditures are directed towards its programs. However, this figure is significantly lower than expected, reflecting potential inefficiencies in resource allocation. Overall, while Cma Education Foundation has strengths in certain governance aspects, the lack of critical policies and low financial management scores highlight areas that need urgent improvement.
This AI summary has been generated from information found on Charity Navigator.
Is Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc legitimate?
Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cma Education Foundation Inc C/O Connecticut Maritime Assoc 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:
Executive Compensation: $24,000
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.cma-edu.org
What is the mission statement of Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc?
The Cma Education Foundation Inc, affiliated with Connecticut Maritime Association Inc, is established with the mission to empower future maritime professionals. They achieve this by promoting and supporting maritime-related education through various initiatives, such as scholarships, internship stipends, career days, and the Business of Shipping Competition. The foundation's primary objective is to provide financial assistance and opportunities to students pursuing maritime education, ultimately fostering a new generation of maritime professionals.
Official website here: www.cma-edu.org
What is the revenue of Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc?
Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc's revenue in 2024 was $166,938.
Official website here: www.cma-edu.org
Who are the executives of Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc and what are their salaries?
The average compensation at Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc during 2024 was $24,000. There is 1 employee at Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc.
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Official website here: www.cma-edu.org
Where can I find the form 990 for Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc?
Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.cma-edu.org
Learn more at the official website: www.cma-edu.org
Mission Statement of Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc
Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc, established with a mission, is dedicated to nurturing future maritime professionals. This is achieved by promoting and backing maritime-related education through various financial aid and program initiatives. The organization's primary focus is on providing scholarships and internships, which serve to further the maritime education of students. Beyond this, Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc also organizes career days and hosts the Business of Shipping Competition. These initiatives aim to prepare students for careers in the maritime industry, fostering a new generation of skilled and knowledgeable professionals. By offering such opportunities, the foundation plays a vital role in supporting the growth and development of the maritime sector.
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Impact
October, 2024
Cma Education Foundation Inc C/O Connecticut Maritime Assoc Inc plays a crucial role in shaping the future of the maritime industry by focusing on education and professional development. The foundation fosters the growth of future maritime professionals through various initiatives aimed at enhancing educational opportunities.
Its programs, such as scholarships and internship stipends, provide direct financial assistance to students pursuing careers in maritime fields. By supporting educational endeavors, the foundation helps alleviate the financial barriers that can hinder talented individuals from entering the industry.
Additionally, career days and the Business of Shipping Competition engage students in real-world applications of their studies, allowing them to connect with industry leaders and gain valuable insights into maritime professions. These initiatives not only enhance the learning experience but also promote awareness about the diverse career paths available within the maritime sector.
In summary, the foundation's impact is profound, as it actively supports the development of the next generation of maritime professionals, ensuring a skilled and knowledgeable workforce for the industry’s future.
This information is meant to be a general summary of Cma Education Foundation Inc C/O Connecticut Maritime Assoc 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 2024.
- Investment Income: $17,117
- Gross Receipts: $707,633
Assets and Liabilities:
- Total Assets: $715,979
- Total Liabilities: $47,475
- Net Assets: $668,504
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Organization Details
Founding Year
2011
Principal Officer
Beth Wilson-Jordan
Website
www.cma-edu.orgNTEE Category
Code: B82 - Education
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