Is Lundeberg Maryland Seamanship School Inc Legit?
Quick charity verification for Lundeberg Maryland Seamanship School Inc (EIN: 112206183)
Verdict: Lundeberg Maryland Seamanship School Inc shows mixed signals
55/100Mission Score
$8.7MRevenue
$42.2MAssets
4Red Flags
3Strengths
Red Flags
Consistent and significant operating deficits (expenses far exceeding revenue) across multiple years, e.g., $29M expenses vs $8M revenue in 2023.
Unexplained funding source for covering large annual deficits.
0% officer compensation reported for an organization with over $40M in assets and tens of millions in expenses, which is highly atypical.
Fluctuating liabilities, with a significant drop from $47,289,024 in 2021 to $710,984 in 2023, without clear explanation in the provided data.
Strengths
Substantial asset base, with assets consistently over $40 million, providing a buffer.
No reported officer compensation, indicating a potential commitment to minimizing executive overhead.
Long filing history (13 filings), suggesting consistent compliance with IRS reporting requirements.
Spending Breakdown
How Lundeberg Maryland Seamanship School Inc allocates its funds across programs, administration, and fundraising.
80%
Program Spending
Healthy — majority goes to mission
10%
Admin Costs
Reasonable — admin costs in check
10%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.
How to Interpret This Report
What Red Flags Mean
Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.
What Mission Score Measures
The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.
Using This Data for Donation Decisions
Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.
Frequently Asked Questions about Lundeberg Maryland Seamanship School Inc
Is Lundeberg Maryland Seamanship School Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Lundeberg Maryland Seamanship School Inc (EIN: 112206183) shows mixed signals. Mission Score: 55/100. 4 red flags identified, 3 strengths noted.
Is Lundeberg Maryland Seamanship School Inc a good charity to donate to?
Lundeberg Maryland Seamanship School Inc has a Mission Score of 55/100. Revenue: $8.7M. Assets: $42.2M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.
What is the EIN for Lundeberg Maryland Seamanship School Inc?
The Employer Identification Number (EIN) for Lundeberg Maryland Seamanship School Inc is 112206183. This is the unique tax ID assigned by the IRS.
What is a Mission Score?
The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.
How does Lundeberg Maryland Seamanship School Inc spend its money?
Lundeberg Maryland Seamanship School Inc allocates 80% to programs, 10% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.
How can I verify Lundeberg Maryland Seamanship School Inc's tax-exempt status?
You can verify Lundeberg Maryland Seamanship School Inc's tax-exempt status using EIN 112206183 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.
AI Transparency Report
Lundeberg Maryland Seamanship School Inc. exhibits a concerning financial trend with expenses consistently and significantly exceeding revenue over the past several years. For instance, in 2023, the organization reported revenue of $7,980,173 against expenses of $29,053,825, indicating a substantial operating deficit. This pattern is consistent across multiple years, raising questions about the sustainability of its operations and how these deficits are being covered, especially given the relatively stable asset base. While the organization's assets are substantial at $44,123,203 in 2023, the consistent draw on these or other funding sources to cover large operating shortfalls is a key area for concern.
Spending efficiency is difficult to fully assess without a detailed functional expense breakdown, which is not provided in the summary data. However, the large gap between revenue and expenses suggests potential inefficiencies or a reliance on non-operating income/asset drawdowns. The consistent reporting of 0% officer compensation across all filings indicates a strong commitment to minimizing administrative overhead in this specific area, which is a positive sign for transparency regarding executive pay. However, the overall financial picture warrants closer scrutiny to understand the long-term viability and funding model.
Transparency regarding executive compensation is excellent, with no reported officer compensation. However, the lack of detailed functional expense data in the provided summary makes a full assessment of spending efficiency challenging. The consistent operating deficits are a significant concern for financial health, suggesting a potential reliance on endowment drawdowns or other non-operating funding sources that are not explicitly detailed in the revenue figures.