Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1942.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
81 cents of each dollar spent went to programs.
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
37 people listed on the 990; $1.2M paid to officers and key staff.
Mark Martecchini’s $255K as President is at the 54th percentile of top reported officer pay among 3683 $10–100M 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 · 8 named individuals · Part VII
| Name | FY2024 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Mark Martecchini | $254,846 | $245,000 | $110,000 | — | — |
| R Keith Michel | — | — | $185,000 | $245,000 | $220,500 |
| Matthew Werner | $209,472 | $205,000 | $187,584 | $181,027 | $179,830 |
| Anthony Zic | $167,221 | $173,303 | $167,228 | $161,924 | $154,800 |
| Richard Royce | $159,209 | $147,640 | $143,982 | $169,625 | $146,157 |
| Richard Harris | $162,746 | $156,925 | $151,616 | $147,807 | $146,132 |
| Matthew McMahon | — | $157,783 | — | — | — |
| Neil Gallagher | $144,046 | $147,371 | $141,408 | $136,140 | $138,802 |
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
Programs and updates
Inspires and educates future leaders in marine engineering and design.
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Webb Institute Offers a Single Program Service
a college education in Naval Architecture and Marine Engineering. All students receive a Bachelor of Science in Naval Architecture and Marine Engineering. Webb Institute is a 4 year college accredited by Middle States and ABET The Accredited Board of Engineering Technology.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2021 990, line by line.
Download 990
| Line | Start FY21 | End FY21 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.3M | $456K |
| InvestmentsLn 11–13 | $63.6M | $80.6M |
| Land, buildings, equipmentLn 10c | $24.6M | $26.3M |
| Total assetsLn 16 | $91.5M | $109.0M |
| LiabilitiesLn 26 | $6.1M | $5.9M |
| Net assetsLn 32 | $85.4M | $103.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $0 | $0 | ||
| Grants to domestic individualsLn 2 | $5.4M | $5.4M | ||
| Grants and assistance to foreign recipientsLn 3 | $0 | $0 | ||
| Pay of current officers, directors and key staffLn 5 | $648K | $198K | $248K | $201K |
| Pay of disqualified personsLn 6 | $0 | $0 | $0 | $0 |
| Other salaries and wagesLn 7 | $2.7M | $2.1M | $504K | $145K |
| Pension plan contributionsLn 8 | $184K | $138K | $35K | $10K |
| Other employee benefitsLn 9 | $408K | $288K | $93K | $27K |
| Payroll taxesLn 10 | $247K | $173K | $51K | $23K |
| Management feesLn 11a | $0 | $0 | $0 | $0 |
| Legal feesLn 11b | $13K | $0 | $13K | $0 |
| Accounting feesLn 11c | $44K | $0 | $44K | $0 |
| Lobbying feesLn 11d | $0 | $0 | $0 | $0 |
| Professional fundraising feesLn 11e | $0 | $0 | ||
| Investment management feesLn 11f | $291K | $0 | $291K | $0 |
| Other fees for servicesLn 11g | $267K | $215K | $53K | $0 |
| Advertising and promotionLn 12 | $30K | $11K | $11K | $9K |
| Office expensesLn 13 | $32K | $19K | $10K | $3K |
| Information technologyLn 14 | $274K | $198K | $62K | $14K |
| RoyaltiesLn 15 | $0 | $0 | $0 | $0 |
| OccupancyLn 16 | $332K | $264K | $68K | $0 |
| TravelLn 17 | $0 | $0 | $0 | $0 |
| Travel and entertainment for public officialsLn 18 | $0 | $0 | $0 | $0 |
| Conferences, conventions and meetingsLn 19 | $9K | $8K | $561 | $389 |
| InterestLn 20 | $53K | $0 | $53K | $0 |
| Payments to affiliatesLn 21 | $0 | $0 | $0 | $0 |
| Depreciation, depletion and amortizationLn 22 | $1.3M | $1.0M | $262K | $0 |
| InsuranceLn 23 | $246K | $0 | $246K | $0 |
| Other expenses (24a–d)Ln 24 | $1.2M | $1.1M | $109K | $2K |
| Total functional expensesLn 25 | $13.7M | $11.1M | $2.2M | $434K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 | $16.1M | $16.2M | −$141K | $98.4M | 990 PDF |
| FY2023 | $12.3M | $15.1M | −$2.8M | $92.3M | 990 PDF |
| FY2022 | $26.5M | $14.5M | $11.9M | $89.2M | 990 PDF |
| FY2021 Viewing | $22.6M | $13.7M | $8.9M | $103.0M | 990 PDF |
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Schedules filed Part IV
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $22,554,419 across 16 lines filed
Part IX · Statement of functional expenses $13,673,622 across 29 lines filed
Part X · Balance sheet $108,979,783 assets, 24 lines filed
Part XI · Reconciliation of net assets $103,046,068 net assets at year end
Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File
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