Cutwater Maritime Educational Services

Tax-deductible

Baltimore, MD501(c)(3)EducationEIN 27-4332610Revenue $1.2M in FY2024

On file with the IRSmebaplans.org1007 Eastern Avenue, 21202-4345 · Baltimore, MDTax-exempt since Jan 2017Publicly supported — 509(a)(2)

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To provide Maritime training to Maritime professionals.

501(c)(3) charity; gifts are tax-deductible.
96¢ of each $1 spent went to programs.
Run by 4 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
0 of 5
filings with a surplus
Average deficit $712K a year · 90% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
96%
of spending
Looks good: 96% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 6.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$7.2M
697% of total assets
Concern: liabilities are 697% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.2M
+4% vs prior year
Spent
$1.7M
To programs
96%
Net assets
−$6.1M
By yearFY2020–FY2024
Revenue
$1.2M
FY2024▲ +4%
Tap a bar for its year
Revenue by fiscal year
FY2020$325K
FY2021$608K
FY2022$744K
FY2023$1.1M
FY2024$1.2M
Expenses
$1.7M
FY2024▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.6M
FY2021$1.5M
FY2022$1.1M
FY2023$1.6M
FY2024$1.7M
Net assets
−$6.1M
FY2024▼ -10%
Tap a bar for its year
Net assets by fiscal year
FY2020−$3.8M
FY2021−$4.7M
FY2022−$5.1M
FY2023−$5.6M
FY2024−$6.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Exemption reinstated (2013-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Jan 2017.

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

Where the money goes

96 cents of each dollar spent went to programs.

Program services 96% · $1.7M Management & general 4% · $76K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation
Director, President
$0Pt VII · Sec A
Director, Secretary
$0Pt VII · Sec A
Director, Treasurer
$0Pt VII · Sec A
Director, Vice President
$0Pt VII · Sec A
Executive Director
$0Pt VII · Sec A
See Cutwater Maritime Educational Services 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

Trains maritime professionals for careers at sea.

Questions for Cutwater Maritime Educational Services

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Provided by the organization

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1 program · $1.7M · in their own filed words · FY2024
01

Calhoon meba engineering school

$1.7Mprogram expense

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$1.2M
Ln 12
Fees for servicesLn 2g$745K
Other incomeLn 4–11$422K
Money outPt IX
$1.7M
Ln 25
Programscol B$1.7M
Managementcol C$76K
Owns and owesPt X
−$6.1M
net assets · Ln 32
Cash and savingsLn 1–2$949K
Total assetsLn 16$1.0M
LiabilitiesLn 26$7.2M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$745K
Other incomeLn 4–11$422K
Total revenueLn 12$1.2M
Assets in detailPt X, end of year
CashLn 1$949K
Cash and savings togetherLn 1–2$949K
Total assetsLn 16$1.0M
LiabilitiesLn 26$7.2M
Net assetsLn 32−$6.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$21K$949K
Total assetsLn 16$231K$1.0M
LiabilitiesLn 26$5.8M$7.2M
Net assetsLn 32−$5.6M−$6.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$92K$92K$2
Legal feesLn 11b$1K$1K
Accounting feesLn 11c−$40−$40
Other fees for servicesLn 11g$1K$1K
Office expensesLn 13$75K$11K$64K
Information technologyLn 14$803$803
OccupancyLn 16$607$607
TravelLn 17$724$724
Conferences, conventions and meetingsLn 19$800$800
InsuranceLn 23$7K$7K
Other expenses (24a–d)Ln 24$1.5M$1.5M$59
Total functional expensesLn 25$1.7M$1.7M$76K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $1.2M$1.7M−$561K−$6.1M 990 PDF
FY2023 $1.1M$1.6M−$523K−$5.6M 990 PDF
FY2022 $744K$1.1M−$355K−$5.1M 990 PDF
FY2021 $608K$1.5M−$886K−$4.7M 990 PDF
FY2020 $325K$1.6M−$1.2M−$3.8M 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 FY2024 990 (6 parts)
Part I · Summary $1,166,550 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $762,219$744,975
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $356,017$421,575
I-12 Total revenuePrior year $1,118,236$1,166,550
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 $126,264$91,830
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,514,687$1,635,290
I-18 Total expensesPrior year $1,640,951$1,727,120
I-19 Revenue less expensesPrior year −$522,715−$560,570
Part VI · Governance 4 of 4 board members independent, 1 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,166,550 across 3 lines filed
Lines not itemized here account for $4,008 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $744,975$744,975
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $417,567$417,567
VIII-12 Total revenueRelated to mission $1,166,550 · Unrelated business $0 · Excluded from tax $0$1,166,550
Part IX · Statement of functional expenses $1,727,120 across 11 lines filed
IX-7 Other salaries and wagesPrograms $91,828 · Management $2$91,830
IX-11b Legal feesManagement $1,022$1,022
IX-11c Accounting feesManagement −$40−$40
IX-11g Other fees for servicesManagement $1,137$1,137
IX-13 Office expensesPrograms $10,914 · Management $64,128$75,042
IX-14 Information technologyManagement $803$803
IX-16 OccupancyManagement $607$607
IX-17 TravelManagement $724$724
IX-19 Conferences, conventions and meetingsManagement $800$800
IX-23 InsuranceManagement $6,914$6,914
IX-24 Other expenses (24a–d)Programs $1,548,222 · Management $59$1,548,281
IX-25 Total functional expensesPrograms $1,650,964 · Management $76,156 · Fundraising $0$1,727,120
Part X · Balance sheet $1,029,703 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $21,100$948,592
X-4 Accounts receivableStart of year $209,674$81,111
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-16 Total assetsStart of year $230,774$1,029,703
X-17 Accounts payable and accrued expensesStart of year $1,309$1,367
X-25 Other liabilitiesStart of year $5,816,768$7,176,209
X-26 Total liabilitiesStart of year $5,818,077$7,177,576
X-32 Total net assets or fund balancesStart of year −$5,587,303−$6,147,873
X-33 Total liabilities and net assetsStart of year $230,774$1,029,703
Part XI · Reconciliation of net assets −$6,147,873 net assets at year end
XI-1 Total revenue$1,166,550
XI-2 Total expenses$1,727,120
XI-3 Revenue less expenses−$560,570
XI-4 Net assets at start of year−$5,587,303
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$6,147,873

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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