Tma Bluetech: Nonprofit Profile, Financials & Form 990 (EIN 46-3107708)

Matt Classen’s $116K as Executive Director is at the 80th percentile of top reported officer pay among 1709 $100K–1M community development 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 · 1 named individual · Part VII

Name	FY2024	FY2023	FY2022	FY2021
Matt Classen	$116,000	$116,000	$116,000	$42,183

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.

See Tma Bluetech executive salaries →

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

Promotes sustainable ocean industries, innovation, and jobs through education, policy, and technology.

Questions for Tma Bluetech

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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 · FY2022

Builders Initiative FoundationFY2022$5K

Total grants receivedfrom 1 funder$5K

By the numbers

The FY2024 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$313K

Ln 12

Gifts and grantsLn 1h$162K

Fees for servicesLn 2g$151K

Money outPt IX

$339K

Ln 25

Owns and owesPt X

$120K

net assets · Ln 32

Cash and savingsLn 1–2$89K

Total assetsLn 16$142K

LiabilitiesLn 26$22K

PeoplePt VI, VII

20

listed · VII A

PaidVII A1

Voting boardVI 1a22

IndependentVI 1b21

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$162K

Government grantsLn 1e$69K

Fees for servicesLn 2g$151K

Total revenueLn 12$313K

Assets in detailPt X, end of year

CashLn 1$89K

Cash and savings togetherLn 1–2$89K

Accounts receivableLn 4$22K

InvestmentsLn 11–13$29K

Other assetsLn 15$1K

Total assetsLn 16$142K

LiabilitiesLn 26$22K

Net assetsLn 32$120K

OperationsPt I, VI

EmployeesI 50

VolunteersI 60

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

Line	Start FY24	End FY24
Cash and savingsLn 1–2	$58K	$89K
InvestmentsLn 11–13	$25K	$29K
Total assetsLn 16	$171K	$142K
LiabilitiesLn 26	$29K	$22K
Net assetsLn 32	$142K	$120K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Pay of officers and key staff (Part IX, line 5)Ln 5	$116K
Other salaries and wagesLn 7	$25K
Payroll taxesLn 10	$11K
Legal feesLn 11b	$775
Accounting feesLn 11c	$7K
Other fees for servicesLn 11g	$2K
Advertising and promotionLn 12	$5K
Office expensesLn 13	$2K
Information technologyLn 14	$7K
OccupancyLn 16	$2K
TravelLn 17	$5K
Conferences, conventions and meetingsLn 19	$41K
InterestLn 20	$1K
InsuranceLn 23	$7K
Other expenses (24a–d)Ln 24	$106K
Total functional expensesLn 25	$339K

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2024 Latest ViewingFiled with the IRS Oct 15, 2025	$313K	$339K	−$26K	$120K	990 PDF
FY2023Filed with the IRS Nov 1, 2024	$310K	$364K	−$55K	$142K	990 PDF
FY2022Filed with the IRS Nov 15, 2023	$350K	$309K	$41K	$199K	990 PDF
FY2021Filed with the IRS Nov 15, 2022	$250K	$254K	−$4K	$162K	990 PDF
FY2020Filed with the IRS Nov 15, 2021	$249K	$338K	−$89K	$151K	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2024 990

Part I · Summary $312,904 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $155,550$161,805

I-9 Program service revenuePrior year $154,079$151,099

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $309,629$312,904

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 $193,355$152,312

I-16a Professional fundraising feesPrior year $0$0

I-17 Other expensesPrior year $170,909$186,654

I-18 Total expensesPrior year $364,264$338,966

I-19 Revenue less expensesPrior year −$54,635−$26,062

Part VI · Governance 21 of 22 board members independent, 2 to look at

VI-1a Voting members of the governing body22

VI-1b Independent voting members21

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 $312,904 across 6 lines filed

VIII-1b Membership dues$89,005

VIII-1e Government grants$69,300

VIII-1f All other contributions, gifts and grants$3,500

VIII-1h Total contributions, gifts and grants$161,805

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $151,099$151,099

VIII-12 Total revenueRelated to mission $151,099 · Unrelated business $0 · Excluded from tax $0$312,904

Part IX · Statement of functional expenses $338,966 across 15 lines filed

IX-5 Pay of officers and key staff (Part IX, line 5)$116,000

IX-7 Other salaries and wages$24,999

IX-10 Payroll taxes$11,313

IX-11b Legal fees$775

IX-11c Accounting fees$7,475

IX-11g Other fees for services$1,768

IX-12 Advertising and promotion$5,089

IX-13 Office expenses$2,423

IX-14 Information technology$7,247

IX-16 Occupancy$1,932

IX-17 Travel$4,661

IX-19 Conferences, conventions and meetings$41,066

IX-20 Interest$1,144

IX-23 Insurance$6,620

IX-24 Other expenses (24a–d)$106,454

IX-25 Total functional expenses$338,966

Part X · Balance sheet $141,791 assets, 12 lines filed

X-1 Cash, non-interest-bearingStart of year $58,347$89,392

X-4 Accounts receivableStart of year $86,092$21,500

X-12 Other securitiesStart of year $25,000$29,406

X-15 Other assetsStart of year $1,493$1,493

X-16 Total assetsStart of year $170,932$141,791

X-17 Accounts payable and accrued expensesStart of year $9,456$8,808

X-19 Deferred revenue$13,000

X-25 Other liabilitiesStart of year $19,933$98

X-26 Total liabilitiesStart of year $29,389$21,906

X-27 Net assets without donor restrictionsStart of year $141,543$119,885

X-32 Total net assets or fund balancesStart of year $141,543$119,885

X-33 Total liabilities and net assetsStart of year $170,932$141,791

Part XI · Reconciliation of net assets $119,885 net assets at year end

XI-1 Total revenue$312,904

XI-2 Total expenses$338,966

XI-3 Revenue less expenses−$26,062

XI-4 Net assets at start of year$141,543

XI-5 Net unrealized gains (losses) on investments$4,404

XI-9 Other changes in net assets$0

XI-10 Net assets at end of year$119,885

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

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