Society Of Naval Architects And Marine Engineers
Society Of Naval Architects And Marine Engineers faces persistent operating deficits despite substantial assets.
EIN: 135631379 · Alexandria, VA · NTEE: W30Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $2.7M |
| Total Expenses | $3.0M |
| Program Spending | 70% |
| Net Assets | $17.1M |
| Transparency Score | 60/100 |
Is Society Of Naval Architects And Marine Engineers Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Society Of Naval Architects And Marine Engineers directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Society Of Naval Architects And Marine Engineers
Society Of Naval Architects And Marine Engineers (EIN: 135631379) is a nonprofit organization based in Alexandria, VA, classified under NTEE code W30Z. The organization reported total revenue of $2.7M and total assets of $21.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Society Of Naval Architects And Marine Engineers's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Society Of Naval Architects And Marine Engineers is a mid-size nonprofit that has been operating for 88 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -13.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.0M |
| Total Expenses | $3.0M |
| Surplus / Deficit | $-1,966,558 |
| Total Assets | $19.2M |
| Total Liabilities | $2.1M |
| Net Assets | $17.1M |
| Operating Margin | -188.8% |
| Debt-to-Asset Ratio | 11.1% |
| Months of Reserves | 76.7 months |
Financial Health Grade: B
In 2023, Society Of Naval Architects And Marine Engineers reported a deficit of $2.0M with expenses exceeding revenue, holds 76.7 months of operating reserves (strong position), has a debt-to-asset ratio of 11.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Society Of Naval Architects And Marine Engineers's revenue has declined at a compound annual growth rate (CAGR) of -13.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -201.4% | +24.7% | -14.0% |
| 2021 | -29.8% | -11.8% | +31.3% |
| 2020 | -28.2% | -25.9% | -5.0% |
| 2019 | -6.5% | +12.4% | -4.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 8000 |
| IRS Ruling Date | 1938 |
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 Society Of Naval Architects And Marine Engineers with a Mission Score of 60 out of 100 (Good). 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, Society Of Naval Architects And Marine Engineers 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 deficit of $2.0M, with expenses exceeding revenue.
- Debt-to-asset ratio: 11.1%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, suggesting either uncompensated officers or compensation not categorized as such, which is a positive indicator for direct mission spending relative to the organization's size and revenue.
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 Society Of Naval Architects And Marine Engineers's IRS 990 filings:
- Consistent operating deficits: Expenses have significantly outpaced revenue in multiple recent years (e.g., 2023: $3M expenses vs. $1M revenue; 2022: $3M expenses vs. -$1.5M revenue).
- Negative revenue reported in 2022: The $-1,536,359 revenue in 2022 is highly unusual and requires detailed explanation.
- Fluctuating asset base: While substantial, assets have shown volatility, decreasing from $21.1M in 2021 to $18.2M in 2022, suggesting asset utilization to cover deficits.
Strengths
The following positive indicators were identified for Society Of Naval Architects And Marine Engineers:
- Substantial asset base: The organization holds significant assets, reported at $21,286,343, providing a buffer despite operational deficits.
- No reported officer compensation: Officer compensation is consistently reported as 0%, indicating efficient use of funds in this area or alternative compensation structures.
- Long operational history: With 13 filings, the organization has a long history, suggesting established programs and a dedicated community.
Frequently Asked Questions about Society Of Naval Architects And Marine Engineers
Is Society Of Naval Architects And Marine Engineers a legitimate charity?
Society Of Naval Architects And Marine Engineers (EIN: 135631379) is a registered tax-exempt nonprofit based in Virginia. Our AI analysis gives it a Mission Score of 60/100. It has 13 years of IRS 990 filings on record. Total revenue: $2.7M. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Society Of Naval Architects And Marine Engineers spend its money?
Society Of Naval Architects And Marine Engineers directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Society Of Naval Architects And Marine Engineers tax-deductible?
Society Of Naval Architects And Marine Engineers is registered as a tax-exempt nonprofit (EIN: 135631379). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Society Of Naval Architects And Marine Engineers's spending goes to programs?
Society Of Naval Architects And Marine Engineers directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Society Of Naval Architects And Marine Engineers compare to similar nonprofits?
With a transparency score of 60/100 (Good), Society Of Naval Architects And Marine Engineers is above average for NTEE category W30Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Society Of Naval Architects And Marine Engineers located?
Society Of Naval Architects And Marine Engineers is headquartered in Alexandria, Virginia and files with the IRS under EIN 135631379. It is classified under NTEE code W30Z.
How many years of IRS 990 filings does Society Of Naval Architects And Marine Engineers have?
Society Of Naval Architects And Marine Engineers 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 $2.7M in total revenue.
Is Society Of Naval Architects And Marine Engineers financially sustainable given its consistent operating deficits?
The organization has consistently reported expenses exceeding revenue in recent years, with a significant deficit of nearly $2 million in 2023 ($1,041,435 revenue vs. $3,007,993 expenses) and an even larger deficit in 2022 (negative $1,536,359 revenue vs. $3,081,430 expenses). While it holds substantial assets ($21,286,343), this trend is not sustainable long-term without a change in financial strategy.
What caused the negative revenue reported in 2022?
The filing for period 202206 shows a revenue of $-1,536,359. This highly unusual figure could indicate significant returns, adjustments, or a specific accounting event that warrants further investigation into the detailed financial statements to understand its nature and impact.
How does the organization fund its operations given the deficits?
With consistent operating deficits, the organization appears to be drawing down on its accumulated assets to cover expenses. Its assets decreased from $21,193,582 in 2021 to $18,236,225 in 2022 and further to $19,225,026 in 2023 (though there was a slight recovery in 2023 from 2022, it's still below 2021 levels), indicating reliance on reserves.
Filing History
IRS 990 filing history for Society Of Naval Architects And Marine Engineers showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Society Of Naval Architects And Marine Engineers's revenue has declined by 82.9%, moving from $6.1M to $1.0M. Total assets increased by 33.8% over the same period, from $14.4M to $19.2M. Total functional expenses fell by 36.5%, from $4.7M to $3.0M. In its most recent filing year (2023), Society Of Naval Architects And Marine Engineers reported a deficit of $2.0M, with expenses exceeding revenue. The organization holds $2.1M in liabilities against $19.2M in assets (debt-to-asset ratio: 11.1%), resulting in net assets of $17.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.0M | $3.0M | $19.2M | $2.1M | — | View 990 |
| 2022 | $-1,536,359 | $3.1M | $18.2M | $2.3M | — | View 990 |
| 2021 | $1.5M | $2.5M | $21.2M | $1.5M | — | View 990 |
| 2020 | $2.2M | $2.8M | $16.1M | $738K | — | View 990 |
| 2019 | $3.0M | $3.8M | $17.0M | $389K | — | View 990 |
| 2018 | $3.2M | $3.4M | $17.7M | $450K | — | View 990 |
| 2017 | $3.1M | $3.5M | $17.3M | $632K | — | View 990 |
| 2016 | $3.5M | $4.0M | $16.2M | $966K | — | View 990 |
| 2015 | $3.9M | $3.4M | $17.0M | $833K | — | View 990 |
| 2014 | $3.7M | $3.9M | $14.2M | $814K | — | View 990 |
| 2013 | $3.8M | $3.6M | $13.9M | $1.5M | — | View 990 |
| 2012 | $4.0M | $4.1M | $13.2M | $1.4M | — | View 990 |
| 2011 | $6.1M | $4.7M | $14.4M | $1.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.0M, expenses of $3.0M, and assets of $19.2M.
- 2022: Revenue of $-1,536,359, expenses of $3.1M, and assets of $18.2M (revenue -201.4% year-over-year).
- 2021: Revenue of $1.5M, expenses of $2.5M, and assets of $21.2M (revenue -29.8% year-over-year).
- 2020: Revenue of $2.2M, expenses of $2.8M, and assets of $16.1M (revenue -28.2% year-over-year).
- 2019: Revenue of $3.0M, expenses of $3.8M, and assets of $17.0M (revenue -6.5% year-over-year).
- 2018: Revenue of $3.2M, expenses of $3.4M, and assets of $17.7M (revenue +2.3% year-over-year).
- 2017: Revenue of $3.1M, expenses of $3.5M, and assets of $17.3M (revenue -10.7% year-over-year).
- 2016: Revenue of $3.5M, expenses of $4.0M, and assets of $16.2M (revenue -9.5% year-over-year).
- 2015: Revenue of $3.9M, expenses of $3.4M, and assets of $17.0M (revenue +4.8% year-over-year).
- 2014: Revenue of $3.7M, expenses of $3.9M, and assets of $14.2M (revenue -3.5% year-over-year).
- 2013: Revenue of $3.8M, expenses of $3.6M, and assets of $13.9M (revenue -2.8% year-over-year).
- 2012: Revenue of $4.0M, expenses of $4.1M, and assets of $13.2M (revenue -35.0% year-over-year).
- 2011: Revenue of $6.1M, expenses of $4.7M, and assets of $14.4M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Society Of Naval Architects And Marine Engineers:
Data Sources and Methodology
This transparency report for Society Of Naval Architects And Marine Engineers 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.