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Ship Operations Cooperative Program INC FY2020 filing

Not tax-deductible

New Orleans, LA501(c)(6)Since 2008Community Development EIN 26-3378404Revenue $176K in FY2020

On file with the IRSsocp.us1301 Dealers Ave, 70123-2207 · New Orleans, LATax-exempt since Feb 2009

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To promote beneficial innovations in Ship Operations through the identification, development, and application of new methods, tools, and technologies.

501(c)(6) business league; gifts are not tax-deductible as charitable contributions.
30¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $36K a year · 28% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
30%
of spending
Concern: 30% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
38 mo
of spending, in cash
Looks good: 37.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$176K
Spent
$152K
To programs
30%
Net assets
$533K
By yearFY2020–FY2025
Revenue
$176K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$176K
FY2021$720
FY2022$95K
FY2023$251K
FY2024$114K
FY2025$132K
Expenses
$152K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$152K
FY2021$128K
FY2022$151K
FY2023$311K
FY2024$172K
FY2025$72K
Net assets
$533K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$533K
FY2021$406K
FY2022$349K
FY2023$288K
FY2024$230K
FY2025$290K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 2009.

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

Where the money goes

30 cents of each dollar spent went to programs.

Program services 30% · $45K Management & general 70% · $107K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation
Elizabeth Simmons
Elected Member
$0Pt VII · Sec A
Patricia Finsterbusch
Elected Member
$0Pt VII · Sec A
Sam Pecota
Elected Member
$0Pt VII · Sec A
Robert Sheen
Elected Member
$0Pt VII · Sec A
Jerry Pannell
Elected Member
$0Pt VII · Sec A
Jayson Toth
President
$0Pt VII · Sec A
John Jorgensen
Vice Presidentsecretary
$0Pt VII · Sec A
See Ship Operations Cooperative Program INC executive salaries →

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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 15aNo

Programs and updates

Develops and applies new methods, tools, and technologies to improve ship operations.

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Provided by the organization

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2 programs · $45K · in their own filed words · FY2020
01

Exhaust Gas Scrubber Study

Assists members of socp in determining if a scrubber is a practical, lower-cost solution for all or a portion of their fleet to meet existing and future regulatory requirements.

$45Kprogram expense
02

Conferences, meetings, and other administrative costs.

$712program expense

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$176K
Ln 12
Gifts and grantsLn 1h$168K
Investment incomeLn 3$7K
Fees for servicesLn 2g$2K
Money outPt IX
$152K
Ln 25
Programscol B$45K
Managementcol C$107K
Owns and owesPt X
$533K
net assets · Ln 32
Cash and savingsLn 1–2$477K
Total assetsLn 16$543K
LiabilitiesLn 26$10K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$168K
Government grantsLn 1e$50K
Fees for servicesLn 2g$2K
Investment incomeLn 3$7K
Total revenueLn 12$176K
Assets in detailPt X, end of year
CashLn 1$66K
SavingsLn 2$411K
Cash and savings togetherLn 1–2$477K
Total assetsLn 16$543K
LiabilitiesLn 26$10K
Net assetsLn 32$533K
OperationsPt I, VI
EmployeesI 50
VolunteersI 624
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$477K$477K
Total assetsLn 16$510K$543K
LiabilitiesLn 26$979$10K
Net assetsLn 32$509K$533K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$101K$101K
Accounting feesLn 11c$1K$1K
Office expensesLn 13$2K$2K
Conferences, conventions and meetingsLn 19$489$489
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$45K$45K
Total functional expensesLn 25$152K$45K$107K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $132K$72K$60K$290K 990 PDF
FY2024 $114K$172K−$58K$230K 990 PDF
FY2023 $251K$311K−$61K$288K 990 PDF
FY2022 $95K$151K−$57K$349K 990 PDF
FY2021 $720$128K−$127K$406K 990 PDF
FY2020 Viewing $176K$152K$24K$533K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2020 990 (6 parts)
Part I · Summary $176,130 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $95,122$167,550
I-9 Program service revenuePrior year $488$2,077
I-10 Investment incomePrior year $6,453$6,503
I-11 Other revenuePrior year $9,000$0
I-12 Total revenuePrior year $111,063$176,130
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $109,221$152,193
I-18 Total expensesPrior year $109,221$152,193
I-19 Revenue less expensesPrior year $1,842$23,937
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $176,130 across 6 lines filed
VIII-1b Membership dues$117,550
VIII-1e Government grants$50,000
VIII-1h Total contributions, gifts and grants$167,550
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,077$2,077
VIII-3 Investment incomeRelated to mission $6,503$6,503
VIII-12 Total revenueRelated to mission $8,580 · Unrelated business $0 · Excluded from tax $0$176,130
Part IX · Statement of functional expenses $152,193 across 6 lines filed
IX-11a Management feesManagement $101,307$101,307
IX-11c Accounting feesManagement $1,000$1,000
IX-13 Office expensesManagement $2,216$2,216
IX-19 Conferences, conventions and meetingsPrograms $489$489
IX-23 InsuranceManagement $2,438$2,438
IX-24 Other expenses (24a–d)Programs $44,743$44,743
IX-25 Total functional expensesPrograms $45,232 · Management $106,961 · Fundraising $0$152,193
Part X · Balance sheet $542,887 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $2,865$66,227
X-2 Savings and temporary cash investmentsStart of year $474,121$410,625
X-4 Accounts receivableStart of year $32,858$66,035
X-16 Total assetsStart of year $509,844$542,887
X-17 Accounts payable and accrued expensesStart of year $979$10,085
X-26 Total liabilitiesStart of year $979$10,085
X-27 Net assets without donor restrictionsStart of year $508,865$532,802
X-32 Total net assets or fund balancesStart of year $508,865$532,802
X-33 Total liabilities and net assetsStart of year $509,844$542,887
Part XI · Reconciliation of net assets $532,802 net assets at year end
XI-1 Total revenue$176,130
XI-2 Total expenses$152,193
XI-3 Revenue less expenses$23,937
XI-4 Net assets at start of year$508,865
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$532,802

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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