North American Marine Alliance Inc

Is North American Marine Alliance Inc Legit?

Appears Legitimate

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

North American Marine Alliance Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About North American Marine Alliance Inc

North American Marine Alliance Inc (EIN: 10516646) is a nonprofit organization based in Gloucester, MA, classified under NTEE code C013. The organization reported total revenue of $2.7M and total assets of $1.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of North American Marine Alliance Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Mission Effectiveness Score

NonprofitSpending's AI analysis rates North American Marine Alliance Inc with a Mission Score of 95 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.

Spending Breakdown

• admin: 7%
• programs: 90%
• fundraising: 3%

According to IRS 990 filings, North American Marine Alliance Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

North American Marine Alliance Inc consistently reports 0% officer compensation across all available filings, which is highly unusual for an organization of its size with over $1 million in annual revenue. This indicates either a fully volunteer leadership or compensation structured in a way that is not reported as officer compensation on the 990, suggesting a strong commitment to directing funds to programs.

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.

Strengths

The following positive indicators were identified for North American Marine Alliance Inc:

• Consistent revenue growth, reaching $1,109,543 in 2023.
• Zero reported officer compensation across all filings, indicating high efficiency.
• Strong asset growth from $91,349 in 2015 to $633,632 in 2023.
• Positive net income in most recent periods, demonstrating sound financial management.
• High program spending ratio, maximizing impact.

Frequently Asked Questions about North American Marine Alliance Inc

Filing History

IRS 990 filing history for North American Marine Alliance Inc showing financial trends over 14 years of public records:

Over 14 years of IRS 990 filings (2010–2023), North American Marine Alliance Inc's revenue has grown by 273.5%, moving from $297K to $1.1M. Total assets increased by 1017.2% over the same period, from $57K to $634K. Total functional expenses rose by 171%, from $363K to $984K. In its most recent filing year (2023), North American Marine Alliance Inc reported a surplus of $126K, with revenue exceeding expenses. The organization holds $236K in liabilities against $634K in assets (debt-to-asset ratio: 37.3%), resulting in net assets of $398K.

Year-by-Year Financial Summary

• 2023: Revenue of $1.1M, expenses of $984K, and assets of $634K (revenue +58.6% year-over-year).
• 2022: Revenue of $699K, expenses of $684K, and assets of $601K (revenue +10.8% year-over-year).
• 2021: Revenue of $631K, expenses of $532K, and assets of $547K (revenue +34.8% year-over-year).
• 2020: Revenue of $468K, expenses of $481K, and assets of $340K (revenue -27.0% year-over-year).
• 2019: Revenue of $641K, expenses of $556K, and assets of $199K (revenue +158.0% year-over-year).
• 2018: Revenue of $248K, expenses of $383K, and assets of $123K (revenue -35.3% year-over-year).
• 2017: Revenue of $384K, expenses of $363K, and assets of $234K (revenue -14.1% year-over-year).
• 2016: Revenue of $447K, expenses of $324K, and assets of $226K (revenue +55.4% year-over-year).
• 2015: Revenue of $288K, expenses of $338K, and assets of $91K (revenue -13.7% year-over-year).
• 2014: Revenue of $333K, expenses of $288K, and assets of $164K (revenue +17.4% year-over-year).
• 2013: Revenue of $284K, expenses of $250K, and assets of $98K (revenue +9.8% year-over-year).
• 2012: Revenue of $258K, expenses of $231K, and assets of $134K (revenue +42.7% year-over-year).
• 2011: Revenue of $181K, expenses of $184K, and assets of $56K (revenue -39.1% year-over-year).
• 2010: Revenue of $297K, expenses of $363K, and assets of $57K.

Data Sources and Methodology

This transparency report for North American Marine Alliance 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.