Seafarers Building Corporation
Seafarers Building Corporation shows consistent financial growth and no reported officer compensation.
EIN: 111681945 · Camp Springs, MD · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $659K |
| Total Expenses | $479K |
| Program Spending | 70% |
| CEO/Top Officer Pay | $6,927,359 |
| Net Assets | $4.1M |
| Transparency Score | 85/100 |
Is Seafarers Building Corporation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Seafarers Building Corporation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Seafarers Building Corporation
Seafarers Building Corporation (EIN: 111681945) is a nonprofit organization based in Camp Springs, MD. The organization reported total revenue of $659K and total assets of $7.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Seafarers Building Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Seafarers Building Corporation is a small nonprofit that has been operating for 55 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -0.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $654K |
| Total Expenses | $479K |
| Surplus / Deficit | +$174K |
| Total Assets | $6.9M |
| Total Liabilities | $2.9M |
| Net Assets | $4.1M |
| Operating Margin | 26.7% |
| Debt-to-Asset Ratio | 41.5% |
| Months of Reserves | 173.4 months |
Financial Health Grade: A
In 2023, Seafarers Building Corporation reported a surplus of $174K with revenue exceeding expenses, holds 173.4 months of operating reserves (strong position), has a debt-to-asset ratio of 41.5% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Seafarers Building Corporation's revenue has declined at a compound annual growth rate (CAGR) of -0.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -13.2% | +8.5% | +11.5% |
| 2022 | +12.5% | +5.7% | +0.4% |
| 2021 | -5.7% | +2.7% | -1.8% |
| 2020 | +0.1% | -1.2% | -0.9% |
| 2019 | -1.3% | -2.9% | +1.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1971 |
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 Seafarers Building Corporation with a Mission Score of 85 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Seafarers Building Corporation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $174K, with revenue exceeding expenses.
- Debt-to-asset ratio: 41.5%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to officers, which is highly unusual for an organization of its size and asset base ($6,927,359 in 2023). This suggests either a fully volunteer-led executive team or compensation is reported under different categories, warranting further investigation for complete transparency.
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 Seafarers Building Corporation's IRS 990 filings:
- NTEE Code is unknown, making direct peer comparison difficult.
- Lack of detailed expense breakdown (program, admin, fundraising) in provided data prevents full spending efficiency analysis.
Strengths
The following positive indicators were identified for Seafarers Building Corporation:
- Consistent financial stability with revenue exceeding expenses annually (e.g., $653,658 revenue vs. $479,337 expenses in 2023).
- Strong asset growth over the past decade, from $3.7M in 2014 to $6.9M in 2023.
- Zero reported officer compensation across all filings, indicating a potential volunteer-led executive team or highly efficient compensation structure.
- Healthy financial reserves with assets significantly exceeding liabilities ($6,927,359 assets vs. $2,872,352 liabilities in 2023).
Frequently Asked Questions about Seafarers Building Corporation
Is Seafarers Building Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Seafarers Building Corporation (EIN: 111681945) some concerns. Mission Score: 85/100. 2 red flags identified, 4 strengths noted.
How does Seafarers Building Corporation spend its money?
Seafarers Building Corporation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Seafarers Building Corporation tax-deductible?
Seafarers Building Corporation is registered as a tax-exempt nonprofit (EIN: 111681945). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Seafarers Building Corporation CEO make?
Seafarers Building Corporation's highest-compensated officer earns $6,927,359 annually. The organization reported $659K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Seafarers Building Corporation's spending goes to programs?
Seafarers Building Corporation directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Seafarers Building Corporation located?
Seafarers Building Corporation is headquartered in Camp Springs, Maryland and files with the IRS under EIN 111681945.
How many years of IRS 990 filings does Seafarers Building Corporation have?
Seafarers Building Corporation 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 $659K in total revenue.
Is Seafarers Building Corporation a good charity?
Based on the available IRS 990 data, Seafarers Building Corporation appears to be a financially stable organization with consistent revenue and asset growth. The lack of reported officer compensation is a significant positive indicator for donor trust. However, without a detailed breakdown of program spending, it's challenging to fully assess its direct impact.
How does Seafarers Building Corporation manage its finances?
The organization consistently generates more revenue than expenses, leading to a healthy surplus each year. For example, in 2023, revenue was $653,658 and expenses were $479,337. This surplus contributes to its growing asset base, which reached $6,927,359 in 2023, demonstrating sound financial management.
What is the trend in Seafarers Building Corporation's assets?
Seafarers Building Corporation has shown a strong upward trend in assets, growing from $3,731,664 in 2014 to $6,927,359 in 2023. This nearly doubling of assets over a decade indicates effective financial stewardship and accumulation of resources.
Filing History
IRS 990 filing history for Seafarers Building Corporation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Seafarers Building Corporation's revenue has declined by 3%, moving from $674K to $654K. Total assets increased by 68.7% over the same period, from $4.1M to $6.9M. Total functional expenses rose by 22.7%, from $391K to $479K. In its most recent filing year (2023), Seafarers Building Corporation reported a surplus of $174K, with revenue exceeding expenses. The organization holds $2.9M in liabilities against $6.9M in assets (debt-to-asset ratio: 41.5%), resulting in net assets of $4.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $654K | $479K | $6.9M | $2.9M | — | — |
| 2022 | $753K | $442K | $6.2M | $2.2M | — | — |
| 2021 | $669K | $418K | $6.2M | $2.1M | — | View 990 |
| 2020 | $709K | $407K | $6.3M | $2.2M | — | — |
| 2019 | $709K | $411K | $6.4M | $2.3M | — | — |
| 2018 | $718K | $424K | $6.3M | $2.2M | — | View 990 |
| 2017 | $712K | $375K | $5.0M | $2.1M | — | View 990 |
| 2016 | $539K | $236K | $4.9M | $2.0M | — | View 990 |
| 2015 | $856K | $377K | $4.6M | $1.7M | — | View 990 |
| 2014 | $690K | $407K | $3.7M | $845K | — | View 990 |
| 2013 | $725K | $394K | $3.9M | $1.0M | — | View 990 |
| 2012 | $696K | $408K | $4.0M | $1.1M | — | View 990 |
| 2011 | $674K | $391K | $4.1M | $1.2M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $654K, expenses of $479K, and assets of $6.9M (revenue -13.2% year-over-year).
- 2022: Revenue of $753K, expenses of $442K, and assets of $6.2M (revenue +12.5% year-over-year).
- 2021: Revenue of $669K, expenses of $418K, and assets of $6.2M (revenue -5.7% year-over-year).
- 2020: Revenue of $709K, expenses of $407K, and assets of $6.3M (revenue +0.1% year-over-year).
- 2019: Revenue of $709K, expenses of $411K, and assets of $6.4M (revenue -1.3% year-over-year).
- 2018: Revenue of $718K, expenses of $424K, and assets of $6.3M (revenue +0.8% year-over-year).
- 2017: Revenue of $712K, expenses of $375K, and assets of $5.0M (revenue +32.1% year-over-year).
- 2016: Revenue of $539K, expenses of $236K, and assets of $4.9M (revenue -37.0% year-over-year).
- 2015: Revenue of $856K, expenses of $377K, and assets of $4.6M (revenue +23.9% year-over-year).
- 2014: Revenue of $690K, expenses of $407K, and assets of $3.7M (revenue -4.8% year-over-year).
- 2013: Revenue of $725K, expenses of $394K, and assets of $3.9M (revenue +4.2% year-over-year).
- 2012: Revenue of $696K, expenses of $408K, and assets of $4.0M (revenue +3.2% year-over-year).
- 2011: Revenue of $674K, expenses of $391K, and assets of $4.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Seafarers Building Corporation:
Data Sources and Methodology
This transparency report for Seafarers Building Corporation 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.