Seafarers Health And Benefits Plan
Seafarers Health And Benefits Plan shows consistent revenue growth and asset accumulation with no reported officer compensation.
EIN: 135557534 · Camp Springs, MD · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $662.4M |
| Total Expenses | $100.6M |
| Program Spending | 90% |
| Net Assets | $420.1M |
| Transparency Score | 85/100 |
Is Seafarers Health And Benefits Plan Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Seafarers Health And Benefits Plan directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Seafarers Health And Benefits Plan
Seafarers Health And Benefits Plan (EIN: 135557534) is a nonprofit organization based in Camp Springs, MD. The organization reported total revenue of $662.4M and total assets of $493.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Seafarers Health And Benefits Plan's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Seafarers Health And Benefits Plan is a major nonprofit that has been operating for 75 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $135.8M |
| Total Expenses | $100.6M |
| Surplus / Deficit | +$35.3M |
| Total Assets | $424.2M |
| Total Liabilities | $4.1M |
| Net Assets | $420.1M |
| Operating Margin | 26.0% |
| Debt-to-Asset Ratio | 1.0% |
| Months of Reserves | 50.6 months |
Financial Health Grade: A
In 2023, Seafarers Health And Benefits Plan reported a surplus of $35.3M with revenue exceeding expenses, holds 50.6 months of operating reserves (strong position), has a debt-to-asset ratio of 1.0% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Seafarers Health And Benefits Plan's revenue has grown at a compound annual growth rate (CAGR) of 6.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +5.1% | +15.0% | +18.7% |
| 2022 | -3.8% | -8.7% | -1.1% |
| 2021 | -4.3% | +7.3% | +14.7% |
| 2020 | +3.3% | -4.9% | +24.6% |
| 2019 | +7.3% | +9.0% | +25.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1951 |
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 Health And Benefits Plan 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Seafarers Health And Benefits Plan allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 surplus of $35.3M, with revenue exceeding expenses.
- Debt-to-asset ratio: 1.0%.
Executive Compensation Analysis
The IRS 990 filings consistently report 0% officer compensation, which is highly unusual for an organization managing hundreds of millions in revenue and assets. This suggests that executive compensation may be paid by a related entity or categorized differently, requiring further scrutiny to understand the true cost of leadership.
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 Health And Benefits Plan's IRS 990 filings:
- Consistent 0% officer compensation reported, which is unusual for an organization of this scale and warrants further investigation into executive compensation practices.
Strengths
The following positive indicators were identified for Seafarers Health And Benefits Plan:
- Consistent revenue growth over the past decade, from $72.4 million in 2014 to $135.8 million in 2023.
- Strong asset accumulation, with assets increasing from $86.9 million in 2014 to $424.2 million in 2023.
- Expenses consistently below revenue, indicating sound financial management and ability to build reserves.
- Low liabilities relative to assets, suggesting a healthy balance sheet (e.g., $4.06 million in liabilities vs. $424.2 million in assets in 2023).
Frequently Asked Questions about Seafarers Health And Benefits Plan
Is Seafarers Health And Benefits Plan a legitimate charity?
Based on AI analysis of IRS 990 filings, Seafarers Health And Benefits Plan (EIN: 135557534) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Seafarers Health And Benefits Plan spend its money?
Seafarers Health And Benefits Plan directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Seafarers Health And Benefits Plan tax-deductible?
Seafarers Health And Benefits Plan is registered as a tax-exempt nonprofit (EIN: 135557534). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Seafarers Health And Benefits Plan located?
Seafarers Health And Benefits Plan is headquartered in Camp Springs, Maryland and files with the IRS under EIN 135557534.
How many years of IRS 990 filings does Seafarers Health And Benefits Plan have?
Seafarers Health And Benefits Plan 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 $662.4M in total revenue.
How is executive compensation handled if 0% is reported on the 990s?
The consistent reporting of 0% officer compensation across all filings suggests that executive compensation for the Seafarers Health And Benefits Plan may be paid by a related or sponsoring organization, or categorized under other expenses not specifically listed as 'officer compensation' on the 990. This practice, while not necessarily a red flag, warrants further investigation to understand the full compensation structure for key management personnel.
What is the primary purpose of the Seafarers Health And Benefits Plan?
Based on its name, the organization likely provides health and other benefits to seafarers. The consistent high expenses relative to revenue (e.g., $100.5 million in expenses against $135.8 million in revenue in 2023) suggest significant outlays for these benefits, aligning with its stated purpose.
Is the organization financially stable?
Yes, the organization appears financially stable. It has consistently reported positive net assets, with assets growing from $86.9 million in 2014 to $424.2 million in 2023, and revenues consistently exceeding expenses over the past decade, indicating a healthy financial position and ability to cover its liabilities.
Filing History
IRS 990 filing history for Seafarers Health And Benefits Plan showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Seafarers Health And Benefits Plan's revenue has grown by 116.8%, moving from $62.7M to $135.8M. Total assets increased by 422.5% over the same period, from $81.2M to $424.2M. Total functional expenses rose by 87.3%, from $53.7M to $100.6M. In its most recent filing year (2023), Seafarers Health And Benefits Plan reported a surplus of $35.3M, with revenue exceeding expenses. The organization holds $4.1M in liabilities against $424.2M in assets (debt-to-asset ratio: 1.0%), resulting in net assets of $420.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $135.8M | $100.6M | $424.2M | $4.1M | — | — |
| 2022 | $129.2M | $87.4M | $357.5M | $4.0M | — | View 990 |
| 2021 | $134.3M | $95.7M | $361.3M | $7.6M | — | View 990 |
| 2020 | $140.3M | $89.2M | $315.1M | $4.6M | — | View 990 |
| 2019 | $135.8M | $93.8M | $252.8M | $3.7M | — | View 990 |
| 2018 | $126.6M | $86.1M | $201.5M | $8.1M | — | View 990 |
| 2017 | $98.3M | $76.7M | $163.6M | $1.9M | — | View 990 |
| 2016 | $100.4M | $71.5M | $140.5M | $3.3M | — | View 990 |
| 2015 | $96.2M | $70.0M | $108.1M | $2.0M | — | View 990 |
| 2014 | $72.4M | $70.7M | $86.9M | $3.6M | — | View 990 |
| 2013 | $63.8M | $61.9M | $83.5M | $2.1M | — | View 990 |
| 2012 | $54.1M | $53.7M | $81.9M | $2.7M | — | View 990 |
| 2011 | $62.7M | $53.7M | $81.2M | $2.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $135.8M, expenses of $100.6M, and assets of $424.2M (revenue +5.1% year-over-year).
- 2022: Revenue of $129.2M, expenses of $87.4M, and assets of $357.5M (revenue -3.8% year-over-year).
- 2021: Revenue of $134.3M, expenses of $95.7M, and assets of $361.3M (revenue -4.3% year-over-year).
- 2020: Revenue of $140.3M, expenses of $89.2M, and assets of $315.1M (revenue +3.3% year-over-year).
- 2019: Revenue of $135.8M, expenses of $93.8M, and assets of $252.8M (revenue +7.3% year-over-year).
- 2018: Revenue of $126.6M, expenses of $86.1M, and assets of $201.5M (revenue +28.7% year-over-year).
- 2017: Revenue of $98.3M, expenses of $76.7M, and assets of $163.6M (revenue -2.1% year-over-year).
- 2016: Revenue of $100.4M, expenses of $71.5M, and assets of $140.5M (revenue +4.4% year-over-year).
- 2015: Revenue of $96.2M, expenses of $70.0M, and assets of $108.1M (revenue +32.8% year-over-year).
- 2014: Revenue of $72.4M, expenses of $70.7M, and assets of $86.9M (revenue +13.6% year-over-year).
- 2013: Revenue of $63.8M, expenses of $61.9M, and assets of $83.5M (revenue +17.8% year-over-year).
- 2012: Revenue of $54.1M, expenses of $53.7M, and assets of $81.9M (revenue -13.6% year-over-year).
- 2011: Revenue of $62.7M, expenses of $53.7M, and assets of $81.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Seafarers Health And Benefits Plan:
Data Sources and Methodology
This transparency report for Seafarers Health And Benefits Plan 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.