Steamship Trade Association Ofbaltimore Charitable Legacy Inc
Baltimore charity consistently maintains zero liabilities and reports no officer compensation.
EIN: 205505358 · Baltimore, MD · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $433K |
| Total Expenses | $39K |
| Program Spending | 70% |
| Net Assets | $133K |
| Transparency Score | 75/100 |
Is Steamship Trade Association Ofbaltimore Charitable Legacy Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Steamship Trade Association Ofbaltimore Charitable Legacy Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Steamship Trade Association Ofbaltimore Charitable Legacy Inc
Steamship Trade Association Ofbaltimore Charitable Legacy Inc (EIN: 205505358) is a nonprofit organization based in Baltimore, MD. The organization reported total revenue of $433K and total assets of $305K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Steamship Trade Association Ofbaltimore Charitable Legacy Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Steamship Trade Association Ofbaltimore Charitable Legacy Inc is a small nonprofit that has been operating for 19 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $68K |
| Total Expenses | $39K |
| Surplus / Deficit | +$29K |
| Total Assets | $133K |
| Net Assets | $133K |
| Operating Margin | 43.0% |
| Months of Reserves | 41.4 months |
Financial Health Grade: A
In 2023, Steamship Trade Association Ofbaltimore Charitable Legacy Inc reported a surplus of $29K with revenue exceeding expenses, holds 41.4 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Steamship Trade Association Ofbaltimore Charitable Legacy Inc's revenue has declined at a compound annual growth rate (CAGR) of -3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -18.5% | -42.8% | +28.0% |
| 2022 | +1.7% | +129.6% | +17.8% |
| 2021 | +1102.7% | -15.8% | +145.4% |
| 2020 | -92.1% | -53.7% | -43.8% |
| 2019 | +5.2% | -32.8% | +20.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2007 |
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 Steamship Trade Association Ofbaltimore Charitable Legacy Inc with a Mission Score of 75 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, Steamship Trade Association Ofbaltimore Charitable Legacy Inc 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 $29K, with revenue exceeding expenses.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that its leadership is likely volunteer-based and not drawing salaries from the organization's funds. This suggests a high level of dedication and can contribute to lower administrative overhead.
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 Steamship Trade Association Ofbaltimore Charitable Legacy Inc's IRS 990 filings:
- NTEE code is unknown, making peer comparison difficult
- Lack of detailed expense breakdown in provided data to fully assess spending efficiency
Strengths
The following positive indicators were identified for Steamship Trade Association Ofbaltimore Charitable Legacy Inc:
- Consistently reports zero liabilities across all filings
- Consistent 0% officer compensation, indicating volunteer leadership
- Positive net assets and asset growth over time, from $902 in 2015 to $133,493 in 2023
- Maintains a healthy financial position with assets exceeding liabilities
Frequently Asked Questions about Steamship Trade Association Ofbaltimore Charitable Legacy Inc
Is Steamship Trade Association Ofbaltimore Charitable Legacy Inc a legitimate charity?
Steamship Trade Association Ofbaltimore Charitable Legacy Inc (EIN: 205505358) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $433K. 2 red flags identified. 4 strengths noted. Financial health grade: A.
How does Steamship Trade Association Ofbaltimore Charitable Legacy Inc spend its money?
Steamship Trade Association Ofbaltimore Charitable Legacy Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Steamship Trade Association Ofbaltimore Charitable Legacy Inc tax-deductible?
Steamship Trade Association Ofbaltimore Charitable Legacy Inc is registered as a tax-exempt nonprofit (EIN: 205505358). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Steamship Trade Association Ofbaltimore Charitable Legacy Inc's spending goes to programs?
Steamship Trade Association Ofbaltimore Charitable Legacy Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Steamship Trade Association Ofbaltimore Charitable Legacy Inc located?
Steamship Trade Association Ofbaltimore Charitable Legacy Inc is headquartered in Baltimore, Maryland and files with the IRS under EIN 205505358.
How many years of IRS 990 filings does Steamship Trade Association Ofbaltimore Charitable Legacy Inc have?
Steamship Trade Association Ofbaltimore Charitable Legacy 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 $433K in total revenue.
What are the specific programs funded by Steamship Trade Association Ofbaltimore Charitable Legacy Inc?
The provided data does not detail the specific programs or activities undertaken by the organization. Further investigation into their public mission statement or annual reports would be necessary to understand their programmatic focus.
How does the organization manage to operate with 0% officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership is entirely volunteer-based, or that any compensation falls below reporting thresholds or is covered by other means not reflected in the officer compensation line item. This is a strong indicator of volunteer commitment.
What is the reason for the significant fluctuation in annual revenue and expenses?
Revenue and expenses show variability, for example, revenue was $6,810 in 2020 but $83,306 in 2022. This could be due to the nature of their fundraising activities, reliance on specific grants, or the timing of large projects. Without more context on their operations, the exact reasons are unclear.
Filing History
IRS 990 filing history for Steamship Trade Association Ofbaltimore Charitable Legacy Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Steamship Trade Association Ofbaltimore Charitable Legacy Inc's revenue has declined by 34%, moving from $103K to $68K. Total assets increased by 182.6% over the same period, from $47K to $133K. Total functional expenses fell by 68.4%, from $123K to $39K. In its most recent filing year (2023), Steamship Trade Association Ofbaltimore Charitable Legacy Inc reported a surplus of $29K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $68K | $39K | $133K | $0 | — | — |
| 2022 | $83K | $68K | $104K | $0 | — | View 990 |
| 2021 | $82K | $29K | $89K | $0 | — | View 990 |
| 2020 | $7K | $35K | $36K | $0 | — | View 990 |
| 2019 | $86K | $75K | $64K | $0 | — | View 990 |
| 2018 | $82K | $112K | $53K | $0 | — | View 990 |
| 2017 | $103K | $47K | $84K | $0 | — | View 990 |
| 2016 | $135K | $109K | $27K | $0 | — | View 990 |
| 2015 | $121K | $142K | $902 | $0 | — | View 990 |
| 2014 | $123K | $127K | $23K | $0 | — | View 990 |
| 2013 | $177K | $171K | $27K | $1K | — | View 990 |
| 2012 | $129K | $155K | $21K | $0 | — | View 990 |
| 2011 | $103K | $123K | $47K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $68K, expenses of $39K, and assets of $133K (revenue -18.5% year-over-year).
- 2022: Revenue of $83K, expenses of $68K, and assets of $104K (revenue +1.7% year-over-year).
- 2021: Revenue of $82K, expenses of $29K, and assets of $89K (revenue +1102.7% year-over-year).
- 2020: Revenue of $7K, expenses of $35K, and assets of $36K (revenue -92.1% year-over-year).
- 2019: Revenue of $86K, expenses of $75K, and assets of $64K (revenue +5.2% year-over-year).
- 2018: Revenue of $82K, expenses of $112K, and assets of $53K (revenue -20.5% year-over-year).
- 2017: Revenue of $103K, expenses of $47K, and assets of $84K (revenue -23.4% year-over-year).
- 2016: Revenue of $135K, expenses of $109K, and assets of $27K (revenue +11.5% year-over-year).
- 2015: Revenue of $121K, expenses of $142K, and assets of $902 (revenue -1.9% year-over-year).
- 2014: Revenue of $123K, expenses of $127K, and assets of $23K (revenue -30.2% year-over-year).
- 2013: Revenue of $177K, expenses of $171K, and assets of $27K (revenue +37.1% year-over-year).
- 2012: Revenue of $129K, expenses of $155K, and assets of $21K (revenue +25.0% year-over-year).
- 2011: Revenue of $103K, expenses of $123K, and assets of $47K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Steamship Trade Association Ofbaltimore Charitable Legacy Inc:
Data Sources and Methodology
This transparency report for Steamship Trade Association Ofbaltimore Charitable Legacy 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.