World Ocean School FY2021 filing

Tax-deductible

Boston, MA501(c)(3)EducationEIN 02-0610358Revenue $1.8M in FY2021

On file with the IRSworldoceanschool.org212 Northern Ave W, 02210-2089 · Boston, MATax-exempt since Sep 2002School — 170(b)(1)(A)(ii)

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Experiential education at sea that empowers, motivates and inspires positive community engagement.

501(c)(3) charity; gifts are tax-deductible.
73¢ of each $1 spent went to programs.
$166K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $196K a year · 11% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
73%
of spending
Fine: 73% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$166K
to officers and key staff · 13% of spending
Looks good: pay to officers and key staff is 13% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Concern: 0.3 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $2K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.5M
84% of total assets
Concern: liabilities are 84% of assets; over 80%.
Pt X · Ln 26
Independent board members
17
of 18 voting members
Looks good: 17 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
+103% vs prior year
Spent
$1.3M
To programs
73%
Net assets
$296K
By yearFY2020–FY2024
Revenue
$1.8M
FY2021▲ +103%
Tap a bar for its year
Revenue by fiscal year
FY2020$902K
FY2021$1.8M
FY2022$2.5M
FY2023$1.7M
FY2024$1.8M
Expenses
$1.3M
FY2021▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.1M
FY2021$1.3M
FY2022$1.7M
FY2023$1.8M
FY2024$1.9M
Net assets
$296K
FY2021▲ +217%
Tap a bar for its year
Net assets by fiscal year
FY2020−$254K
FY2021$296K
FY2022$1.2M
FY2023$1.1M
FY2024$1.2M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2002.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

73 cents of each dollar spent went to programs.

Program services 73% · $929K Management & general 9% · $111K Fundraising 19% · $238K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

20 people listed on the 990; $166K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$90,000Pt VII · Sec A
Vice President, Director
$76,406Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Former Chair
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Vice Chair
$0Pt VII · Sec A

Eden Leonard’s $106K as Executive Director is at the 36th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Eden Leonard$106,298$106,667$90,000$90,000$90,000
Steve Kirk$102,708$92,204$79,503$76,406$75,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II5 listed

Programs and updates

Teaches life skills and community involvement through sailing adventures.

Provided by the organization

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2 programs · $929K · in their own filed words · FY2021
01

Primarily sailing from boston, massachusetts, along with special appearances, the organization offers student programming, educational day sails and charters on the schooner roseway, teaching participants the history of this national historical landmark vessel and her connection to boston harbor and the atlantic coast.

$464Kprogram expense
02

Primarily sailing from ST. Croix, U.S. Virgin islands, the organization offers educational day sails, student programing, and charters on the schooner roseway, teaching participants the history of this national histroic landmark vessel and providing unique ship-based educational opportunities.

$464Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2025
Total grants receivedfrom 1 funder$2K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$1.8M
Ln 12
Gifts and grantsLn 1h$1.4M
Fees for servicesLn 2g$340K
Other incomeLn 4–11$62K
Money outPt IX
$1.3M
Ln 25
Programscol B$929K
Managementcol C$111K
Fundraisingcol D$238K
Owns and owesPt X
$296K
net assets · Ln 32
Cash and savingsLn 1–2$33K
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.5M
PeoplePt VI, VII
20
listed · VII A
PaidVII A2
Voting boardVI 1a18
IndependentVI 1b17
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.4M
Government grantsLn 1e$211K
Fees for servicesLn 2g$340K
Investment incomeLn 3$2
Other incomeLn 4–11$62K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$33K
Cash and savings togetherLn 1–2$33K
Land, buildings, equipmentLn 10c$1.8M
Total assetsLn 16$1.8M
LiabilitiesLn 26$1.5M
Net assetsLn 32$296K
OperationsPt I, VI
EmployeesI 530
VolunteersI 620
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$28K$33K
Land, buildings, equipmentLn 10c$1.8M$1.8M
Total assetsLn 16$1.8M$1.8M
LiabilitiesLn 26$2.1M$1.5M
Net assetsLn 32−$254K$296K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$94K$35K$14K$45K
Other salaries and wagesLn 7$523K$398K$44K$80K
Other employee benefitsLn 9$83K$57K$8K$18K
Payroll taxesLn 10$49K$35K$5K$10K
Accounting feesLn 11c$16K$8K$4K$4K
Other fees for servicesLn 11g$20K$7K$7K$6K
Advertising and promotionLn 12$3K$2K$290$629
Office expensesLn 13$21K$15K$2K$4K
OccupancyLn 16$28K$20K$3K$6K
TravelLn 17$20K$18K$591$591
InterestLn 20$67K$47K$6K$14K
Depreciation, depletion and amortizationLn 22$92K$62K$15K$16K
InsuranceLn 23$71K$68K$3K$100
Other expenses (24a–d)Ln 24$191K$157K$445$34K
Total functional expensesLn 25$1.3M$929K$111K$238K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $1.8M$1.9M−$102K$1.2M 990 PDF
FY2023 $1.7M$1.8M−$82K$1.1M 990 PDF
FY2022 $2.5M$1.7M$862K$1.2M 990 PDF
FY2021 Viewing $1.8M$1.3M$550K$296K 990 PDF
FY2020 $902K$1.1M−$247K−$254K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $1,828,128 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $439,410$1,426,172
I-9 Program service revenuePrior year $444,133$340,452
I-10 Investment incomePrior year $13$2
I-11 Other revenuePrior year $18,920$61,502
I-12 Total revenuePrior year $902,476$1,828,128
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $654,117$748,540
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $495,807$529,542
I-18 Total expensesPrior year $1,149,924$1,278,082
I-19 Revenue less expensesPrior year −$247,448$550,046
Part VI · Governance 17 of 18 board members independent, 2 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members17
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,828,128 across 7 lines filed
Lines not itemized here account for $11,127 of total revenue; see the IRS return.
VIII-1e Government grants$210,569
VIII-1f All other contributions, gifts and grants$1,215,603
VIII-1h Total contributions, gifts and grants$1,426,172
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $340,452$340,452
VIII-3 Investment incomeExcluded from tax $2$2
VIII-8 Net income from fundraising eventsExcluded from tax $50,375$50,375
VIII-12 Total revenueRelated to mission $340,452 · Unrelated business $0 · Excluded from tax $61,504$1,828,128
Part IX · Statement of functional expenses $1,278,082 across 14 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $35,147 · Management $13,500 · Fundraising $45,000$93,647
IX-7 Other salaries and wagesPrograms $398,465 · Management $44,389 · Fundraising $80,033$522,887
IX-9 Other employee benefitsPrograms $57,039 · Management $8,126 · Fundraising $17,635$82,800
IX-10 Payroll taxesPrograms $34,543 · Management $4,625 · Fundraising $10,038$49,206
IX-11c Accounting feesPrograms $8,233 · Management $4,117 · Fundraising $4,117$16,467
IX-11g Other fees for servicesPrograms $7,114 · Management $6,656 · Fundraising $5,771$19,541
IX-12 Advertising and promotionPrograms $2,165 · Management $290 · Fundraising $629$3,084
IX-13 Office expensesPrograms $14,525 · Management $1,945 · Fundraising $4,221$20,691
IX-16 OccupancyPrograms $19,725 · Management $2,643 · Fundraising $6,034$28,402
IX-17 TravelPrograms $18,434 · Management $591 · Fundraising $591$19,616
IX-20 InterestPrograms $47,347 · Management $6,340 · Fundraising $13,759$67,446
IX-22 Depreciation, depletion and amortizationPrograms $61,678 · Management $14,729 · Fundraising $15,650$92,057
IX-23 InsurancePrograms $67,703 · Management $3,051 · Fundraising $100$70,854
IX-24 Other expenses (24a–d)Programs $156,792 · Management $445 · Fundraising $34,147$191,384
IX-25 Total functional expensesPrograms $928,910 · Management $111,447 · Fundraising $237,725$1,278,082
Part X · Balance sheet $1,840,039 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $27,522$32,669
X-3 Pledges and grants receivableStart of year $23,810$8,331
X-4 Accounts receivableStart of year $82$7,100
X-8 Inventories for sale or useStart of year $13,349$8,539
X-9 Prepaid expenses and deferred chargesStart of year $3,378$3,465
X-10c Land, buildings and equipment, netStart of year $1,763,853$1,779,935
X-16 Total assetsStart of year $1,831,994$1,840,039
X-17 Accounts payable and accrued expensesStart of year $204,911$260,400
X-19 Deferred revenueStart of year $75,700$246,310
X-26 Total liabilitiesStart of year $2,085,952$1,543,948
X-27 Net assets without donor restrictionsStart of year −$279,958$224,591
X-28 Net assets with donor restrictionsStart of year $26,000$71,500
X-32 Total net assets or fund balancesStart of year −$253,958$296,091
X-33 Total liabilities and net assetsStart of year $1,831,994$1,840,039
Part XI · Reconciliation of net assets $296,091 net assets at year end
XI-1 Total revenue$1,828,128
XI-2 Total expenses$1,278,082
XI-3 Revenue less expenses$550,046
XI-4 Net assets at start of year−$253,958
XI-9 Other changes in net assets$3
XI-10 Net assets at end of year$296,091

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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