Vermilion Sea Institute

Vermilion Sea Institute faces recurring deficits and declining assets despite fluctuating revenues.

EIN: 208381814 · Cambridge, MA · NTEE: B99 · Updated: 2026-03-28

$388KRevenue

$33KAssets

70/100Mission Score (Good)

B99

About Vermilion Sea Institute

Vermilion Sea Institute (EIN: 208381814) is a nonprofit organization based in Cambridge, MA, classified under NTEE code B99. The organization reported total revenue of $388K and total assets of $33K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Vermilion Sea Institute's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

Vermilion Sea Institute demonstrates a fluctuating financial health over the past several years. While the organization has shown periods of strong revenue growth, such as in 2019 with $579,585, it has also experienced significant deficits, notably in 2023 where expenses ($496,283) substantially exceeded revenue ($358,659). This trend of expenses often outpacing revenue, as seen in 2023, 2022, and 2020, suggests potential challenges in maintaining operational stability without drawing down reserves or incurring liabilities. The organization's assets have also shown considerable volatility, peaking at $215,050 in 2021 before declining to $32,091 in the latest period, indicating a potential depletion of financial reserves. The consistent reporting of 0% officer compensation across all filings suggests a commitment to directing funds towards the mission rather than executive salaries, which is a positive indicator of transparency and efficiency in this specific area. However, the overall financial picture suggests a need for more consistent revenue generation or expense management to ensure long-term sustainability.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Vermilion Sea Institute with a Mission Score of 70 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: 15%
programs: 80%
fundraising: 5%

According to IRS 990 filings, Vermilion Sea Institute allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Vermilion Sea Institute consistently reports 0% officer compensation across all available filings, indicating that no salaries or benefits are paid to its officers. This suggests a highly volunteer-driven leadership or a deliberate choice to allocate all available funds directly to program activities and operational costs, rather than executive salaries.

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 Vermilion Sea Institute's IRS 990 filings:

Recurring operational deficits: Expenses exceeded revenue in 2023, 2022, and 2020.
Significant decline in assets: Assets dropped from $215,050 in 2021 to $32,091 in 2023.
High liabilities relative to assets in 2023: Liabilities of $14,491 against assets of $32,091 indicate a notable portion of assets are offset by debt.

Strengths

The following positive indicators were identified for Vermilion Sea Institute:

Consistent 0% officer compensation: Demonstrates a commitment to directing funds away from executive salaries.
Periods of strong revenue generation: Achieved $579,585 in revenue in 2019, showing capacity for significant fundraising.
Long filing history: 13 filings indicate a sustained operational presence over more than a decade.

Frequently Asked Questions about Vermilion Sea Institute

Why have expenses frequently exceeded revenue in recent years?

The filings show expenses exceeding revenue in 2023 ($496,283 vs $358,659), 2022 ($372,731 vs $315,660), and 2020 ($181,984 vs $155,693). This trend suggests potential operational challenges or strategic investments that are not immediately covered by incoming funds.

What caused the significant drop in assets from $215,050 in 2021 to $32,091 in 2023?

The substantial decrease in assets, particularly between 2021 and 2023, could be attributed to the organization using its reserves to cover operational deficits, as seen in the 2022 and 2023 periods where expenses outpaced revenue.

How does the organization sustain operations with 0% officer compensation?

The consistent reporting of 0% officer compensation implies that the organization's leadership may be entirely volunteer-based or compensated through other means not classified as officer compensation, or that the organization is very small and relies heavily on volunteer efforts for its management.

Filing History

IRS 990 filing history for Vermilion Sea Institute showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Vermilion Sea Institute's revenue has grown by 3586490%, moving from $10 to $359K. Total assets increased by 24776.7% over the same period, from $129 to $32K. Total functional expenses rose by 1341205.4%, from $37 to $496K. In its most recent filing year (2023), Vermilion Sea Institute reported a deficit of $138K, with expenses exceeding revenue. The organization holds $14K in liabilities against $32K in assets (debt-to-asset ratio: 45.2%), resulting in net assets of $18K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2023	$359K	$496K	$32K	$14K	—	—
2022	$316K	$373K	$158K	$3K	—	View 990
2021	$305K	$254K	$215K	$454	—	View 990
2020	$156K	$182K	$165K	$3K	—	View 990
2019	$580K	$579K	$190K	$710	—	View 990
2018	$330K	$290K	$191K	$3K	—	View 990
2017	$187K	$78K	$200K	$0	—	View 990
2016	$178K	$100K	$91K	$0	—	View 990
2015	$101K	$97K	$13K	$0	—	View 990
2014	$92K	$88K	$10K	$0	—	View 990
2013	$89K	$134K	$6K	$0	—	View 990
2012	$137K	$84K	$51K	$0	—	View 990
2011	$10	$37	$129	$2K	—	View 990

Year-by-Year Financial Summary

2023: Revenue of $359K, expenses of $496K, and assets of $32K (revenue +13.6% year-over-year).
2022: Revenue of $316K, expenses of $373K, and assets of $158K (revenue +3.4% year-over-year).
2021: Revenue of $305K, expenses of $254K, and assets of $215K (revenue +96.1% year-over-year).
2020: Revenue of $156K, expenses of $182K, and assets of $165K (revenue -73.1% year-over-year).
2019: Revenue of $580K, expenses of $579K, and assets of $190K (revenue +75.5% year-over-year).
2018: Revenue of $330K, expenses of $290K, and assets of $191K (revenue +76.4% year-over-year).
2017: Revenue of $187K, expenses of $78K, and assets of $200K (revenue +5.2% year-over-year).
2016: Revenue of $178K, expenses of $100K, and assets of $91K (revenue +76.6% year-over-year).
2015: Revenue of $101K, expenses of $97K, and assets of $13K (revenue +9.5% year-over-year).
2014: Revenue of $92K, expenses of $88K, and assets of $10K (revenue +3.5% year-over-year).
2013: Revenue of $89K, expenses of $134K, and assets of $6K (revenue -35.1% year-over-year).
2012: Revenue of $137K, expenses of $84K, and assets of $51K (revenue +1369860.0% year-over-year).
2011: Revenue of $10, expenses of $37, and assets of $129.

Data Sources and Methodology

This transparency report for Vermilion Sea Institute 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.