Lundeberg Maryland Seamanship School Inc
Lundeberg Maryland Seamanship School Inc. consistently spends significantly more than it earns, with 2023 expenses at $29 million against $8 million in revenue.
EIN: 112206183 · Camp Springs, MD · NTEE: B600 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.7M |
| Total Expenses | $29.1M |
| Program Spending | 80% |
| CEO/Top Officer Pay | $40 |
| Net Assets | $43.4M |
| Transparency Score | 55/100 |
Is Lundeberg Maryland Seamanship School Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lundeberg Maryland Seamanship School Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Lundeberg Maryland Seamanship School Inc
Lundeberg Maryland Seamanship School Inc (EIN: 112206183) is a nonprofit organization based in Camp Springs, MD, classified under NTEE code B600. The organization reported total revenue of $8.7M and total assets of $42.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lundeberg Maryland Seamanship School Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lundeberg Maryland Seamanship School Inc is a mid-size nonprofit that has been operating for 53 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -7.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.0M |
| Total Expenses | $29.1M |
| Surplus / Deficit | $-21,073,652 |
| Total Assets | $44.1M |
| Total Liabilities | $711K |
| Net Assets | $43.4M |
| Operating Margin | -264.1% |
| Debt-to-Asset Ratio | 1.6% |
| Months of Reserves | 18.2 months |
Financial Health Grade: B
In 2023, Lundeberg Maryland Seamanship School Inc reported a deficit of $21.1M with expenses exceeding revenue, holds 18.2 months of operating reserves (strong position), has a debt-to-asset ratio of 1.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Lundeberg Maryland Seamanship School Inc's revenue has declined at a compound annual growth rate (CAGR) of -7.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +36.6% | +8.8% | -0.9% |
| 2022 | -22.5% | +6.9% | -1.4% |
| 2021 | +95.8% | +2.8% | +7.9% |
| 2020 | -45.1% | -10.6% | +8.6% |
| 2019 | +8.1% | +3.1% | +1.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1973 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lundeberg Maryland Seamanship School Inc with a Mission Score of 55 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Lundeberg Maryland Seamanship School Inc allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $21.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly unusual for an organization with assets exceeding $40 million and expenses in the tens of millions.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Lundeberg Maryland Seamanship School Inc's IRS 990 filings:
- 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
The following positive indicators were identified for Lundeberg Maryland Seamanship School Inc:
- 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.
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) some concerns. Mission Score: 55/100. 4 red flags identified, 3 strengths noted.
How does Lundeberg Maryland Seamanship School Inc spend its money?
Lundeberg Maryland Seamanship School Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lundeberg Maryland Seamanship School Inc tax-deductible?
Lundeberg Maryland Seamanship School Inc is registered as a tax-exempt nonprofit (EIN: 112206183). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Lundeberg Maryland Seamanship School Inc CEO make?
Lundeberg Maryland Seamanship School Inc's highest-compensated officer earns $40 annually. The organization reported $8.7M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Lundeberg Maryland Seamanship School Inc's spending goes to programs?
Lundeberg Maryland Seamanship School Inc directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Lundeberg Maryland Seamanship School Inc compare to similar nonprofits?
With a transparency score of 55/100 (Fair), Lundeberg Maryland Seamanship School Inc is near average for NTEE category B600 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Lundeberg Maryland Seamanship School Inc located?
Lundeberg Maryland Seamanship School Inc is headquartered in Camp Springs, Maryland and files with the IRS under EIN 112206183. It is classified under NTEE code B600.
How many years of IRS 990 filings does Lundeberg Maryland Seamanship School Inc have?
Lundeberg Maryland Seamanship School Inc has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $8.7M in total revenue.
How does Lundeberg Maryland Seamanship School Inc. cover its substantial annual operating deficits?
The organization consistently reports expenses far exceeding revenue. For example, in 2023, expenses were $29,053,825 while revenue was $7,980,173. This suggests a reliance on drawing from endowments, investment income not captured in 'revenue', or other non-operating funds to sustain operations.
What is the breakdown of the organization's significant expenses?
Without a detailed functional expense statement, it's unclear how the $29,053,825 in expenses (2023) is allocated between program services, administrative costs, and fundraising. This information is crucial for assessing spending efficiency.
Is the organization's financial model sustainable given the consistent revenue-expense gap?
The persistent and large gap between revenue and expenses over many years raises serious questions about the long-term financial sustainability of the organization, despite its substantial asset base of over $40 million.
Why is officer compensation consistently reported as 0%?
Reporting 0% officer compensation for an organization of this size and operational scope is highly unusual and warrants further investigation to understand if key leadership roles are compensated through other means or if the organization is entirely volunteer-led at the executive level.
Filing History
IRS 990 filing history for Lundeberg Maryland Seamanship School Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lundeberg Maryland Seamanship School Inc's revenue has declined by 60.1%, moving from $20.0M to $8.0M. Total assets increased by 50.8% over the same period, from $29.3M to $44.1M. Total functional expenses rose by 35.1%, from $21.5M to $29.1M. In its most recent filing year (2023), Lundeberg Maryland Seamanship School Inc reported a deficit of $21.1M, with expenses exceeding revenue. The organization holds $711K in liabilities against $44.1M in assets (debt-to-asset ratio: 1.6%), resulting in net assets of $43.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $8.0M | $29.1M | $44.1M | $711K | — | — |
| 2022 | $5.8M | $26.7M | $44.5M | $3.5M | — | View 990 |
| 2021 | $7.5M | $25.0M | $45.2M | $47.3M | — | View 990 |
| 2020 | $3.9M | $24.3M | $41.8M | $43.3M | — | View 990 |
| 2019 | $7.0M | $27.2M | $38.5M | $33.9M | — | View 990 |
| 2018 | $6.5M | $26.4M | $38.0M | $30.2M | — | View 990 |
| 2017 | $7.0M | $25.6M | $40.3M | $29.4M | — | View 990 |
| 2016 | $21.3M | $24.1M | $40.7M | $26.7M | — | View 990 |
| 2015 | $20.9M | $23.4M | $41.4M | $24.7M | — | View 990 |
| 2014 | $19.7M | $21.5M | $36.5M | $17.3M | — | View 990 |
| 2013 | $19.5M | $21.3M | $30.8M | $9.8M | — | View 990 |
| 2012 | $20.2M | $22.2M | $31.0M | $8.2M | — | View 990 |
| 2011 | $20.0M | $21.5M | $29.3M | $4.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $8.0M, expenses of $29.1M, and assets of $44.1M (revenue +36.6% year-over-year).
- 2022: Revenue of $5.8M, expenses of $26.7M, and assets of $44.5M (revenue -22.5% year-over-year).
- 2021: Revenue of $7.5M, expenses of $25.0M, and assets of $45.2M (revenue +95.8% year-over-year).
- 2020: Revenue of $3.9M, expenses of $24.3M, and assets of $41.8M (revenue -45.1% year-over-year).
- 2019: Revenue of $7.0M, expenses of $27.2M, and assets of $38.5M (revenue +8.1% year-over-year).
- 2018: Revenue of $6.5M, expenses of $26.4M, and assets of $38.0M (revenue -6.9% year-over-year).
- 2017: Revenue of $7.0M, expenses of $25.6M, and assets of $40.3M (revenue -67.3% year-over-year).
- 2016: Revenue of $21.3M, expenses of $24.1M, and assets of $40.7M (revenue +1.8% year-over-year).
- 2015: Revenue of $20.9M, expenses of $23.4M, and assets of $41.4M (revenue +6.0% year-over-year).
- 2014: Revenue of $19.7M, expenses of $21.5M, and assets of $36.5M (revenue +1.2% year-over-year).
- 2013: Revenue of $19.5M, expenses of $21.3M, and assets of $30.8M (revenue -3.6% year-over-year).
- 2012: Revenue of $20.2M, expenses of $22.2M, and assets of $31.0M (revenue +1.2% year-over-year).
- 2011: Revenue of $20.0M, expenses of $21.5M, and assets of $29.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lundeberg Maryland Seamanship School Inc:
Data Sources and Methodology
This transparency report for Lundeberg Maryland Seamanship School Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.