BOSTON MARINE SOCIETY: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- BOSTON MARINE SOCIETY (EIN 04-2139204)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-11
- IRS object ID
- 202523159349306352
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-11T16:31:46-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 331498605 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PLANTE & MORAN PLLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 401 EDGEWATER PLACE SUITE 300 | AddressLine1Txt |
| City | WAKEFIELD | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 018806208 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 042139204 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOSTON MARINE SOCIETY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | BOST | BusinessNameControlTxt |
| Phone | 6172420522 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 1ST AVE 102 | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02129 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CAPTAIN JOHN F MULDERIG | PersonNm |
| Person Title | PRESIDENT | PersonTitleTxt |
| Phone | 7818209310 | PhoneNum |
| Signature | 2025-11-08 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | LYNETTE A SEQUEIRA | PreparerPersonNm |
| PTIN | P01518997 | PTIN |
| Phone | 7812459999 | PhoneNum |
| Preparation | 2025-11-08 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CAPTAIN JOHN F MULDERIG | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 236 OCEAN AVENUE | AddressLine1Txt |
| City | MARBLEHEAD | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01945 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $5,907,475 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | BOSTONMARINESOCIETY.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1754 | FormationYr |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Activity Or Mission | PROMOTE KNOWLEDGE OF THE COAST, RELIEVE MEMBERS & FAMILIES OF POVERTY & FINANCIALLY ASSIST IN THE EDUCATION & TRAINING OF MARITIME ACADEMY STUDENTS. | ActivityOrMissionDesc |
| Voting Members Governing Body | 15 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 15 | VotingMembersIndependentCnt |
| Total Employee | 2 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $22,485 | PYContributionsGrantsAmt |
| CY Contributions Grants | $142,109 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $9,730 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $11,200 | CYProgramServiceRevenueAmt |
| PY Investment Income | $598,484 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,400,501 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $630,699 | PYTotalRevenueAmt |
| CY Total Revenue | $1,553,810 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $184,000 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $197,500 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $128,683 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $154,088 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $591,855 | PYOtherExpensesAmt |
| CY Other Expenses | $641,138 | CYOtherExpensesAmt |
| PY Total Expenses | $904,538 | PYTotalExpensesAmt |
| CY Total Expenses | $992,726 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$273,839 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $561,084 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $24,409,964 | TotalAssetsBOYAmt |
| Total Assets EOY | $27,336,320 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $218,084 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $1,493,809 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $24,191,880 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $25,842,511 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | PROMOTE KNOWLEDGE OF THE COAST, RELIEVE MEMBERS AND FAMILIES OF POVERTY, AND FINANCIALLY ASSIST IN THE EDUCATION AND TRAINING OF MARITIME ACADEMY STUDENTS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $177,500 | ExpenseAmt |
| Grant | $177,500 | GrantAmt |
| Desc | SCHOLARSHIPS AND MEMORIAL FUNDS GRANTED TO MARITIME ACADEMIES AND OTHERS ASSOCIATED WITH THE EDUCATION AND PRESERVATION OF THE COAST. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $20,000 | ExpenseAmt |
| Grant | $20,000 | GrantAmt |
| Desc | FINANCIAL AID AND ASSISTANCE TO MEMBERS & FAMILIES IN POVERTY. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $78,211 | ExpenseAmt |
| Desc | OTHER EXPENSES TO MAINTAIN HISTORICAL ASSETS HELD BY THE SOCIETY THAT ARE USED TO EDUCATE THE PUBLIC ABOUT THE COAST. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $231,764 | ExpenseAmt |
| Revenue | $11,200 | RevenueAmt |
| Desc | CONFERENCES AND MEETINGS TO PROVIDE A FORUM FOR THE DISCUSSION OF THE COAST AND TO PROMOTE PUBLIC AWARENESS OF THE COAST. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Prog Srvc Expense | $231,764 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Revenue | $11,200 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $507,475 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (1) | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | Yes (1) | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | Yes (1) | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 0 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Employee | 2 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | 0 | Form8899Filedind |
| Form1098 C Filed | 0 | Form1098CFiledInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 15 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 15 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | 0 | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Other Website | Yes (X) | OtherWebsiteInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CAPTAIN MARTIN E CONROY JR | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 6172420522 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 100 1ST AVENUE STE 102 CHARLESTOWN | AddressLine1Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02129 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| No Listed Persons Compensated | Yes (X) | NoListedPersonsCompensatedInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (18 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|
| CAPTAIN PETER J LAWRENCE | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN STEFAN J PALMER | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN BRUCE F PORTER | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN ANDREW TRIANDAFILOU | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN MICHAEL R BURNS JR | |||||||
| SECRETARY | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN ROBERT A KOLOFSKY | |||||||
| TRUSTEE EMERITUS | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN JAY C BURGESS | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN CHARLES G GIFFORD | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN JEFFREY J HAVLICEK | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN A ROSS POPE | |||||||
| TRUSTEE EMERITUS | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN CARL A POTTEY | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN DAVID L HAGNER | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN JOHN N HEALEY | |||||||
| TRUSTEE | 2.00 | Yes (X) | $0 | $0 | $0 | ||
| CAPTAIN RICHARD R CUNIO | |||||||
| VICE PRESIDENT | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| CAPTAIN MARTIN E CONROY JR | |||||||
| TREASURER | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| CAPTAIN JOHN F MULDERIG | |||||||
| PRESIDENT | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| MARTHA R BAGLEY ESQ | |||||||
| ASSISTANT SECRETARY/TREASU | 2.00 | $0 | $0 | $0 | Yes (X) | ||
| LISA V WALSH | |||||||
| EXECUTIVE DIRECTOR | 40.00 | $146,544 | $0 | $0 | Yes (X) | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $146,544 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp
Contractor Name ContractorName
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | MORGAN STANLEY | BusinessNameLine1Txt |
Contractor Address ContractorAddress
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 141 LONGWATER DRIVE STE 102 | AddressLine1Txt |
| City | NORWELL | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02061 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Services | INVESTMENT MANAGEMENT | ServicesDesc |
| Compensation | $153,424 | CompensationAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 1 | CntrctRcvdGreaterThan100KCnt |
| Membership Dues | $1,789 | MembershipDuesAmt |
| All Other Contributions | $140,320 | AllOtherContributionsAmt |
| Total Contributions | $142,109 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | PROGRAM ACTIVITY FEES | Desc |
| Business | 900099 | BusinessCd |
| Total Revenue Column | $11,200 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $11,200 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $11,200 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $666,689 | TotalRevenueColumnAmt |
| Exclusion | $666,689 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $5,087,477 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $4,353,665 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $733,812 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $733,812 | TotalRevenueColumnAmt |
| Exclusion | $733,812 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,553,810 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $11,200 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,400,501 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $107,500 | TotalAmt |
| Program Services | $107,500 | ProgramServicesAmt |
Grants To Domestic Individuals GrantsToDomesticIndividualsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $90,000 | TotalAmt |
| Program Services | $90,000 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $138,718 | TotalAmt |
| Program Services | $69,359 | ProgramServicesAmt |
| Management And General | $69,359 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,518 | TotalAmt |
| Program Services | $2,259 | ProgramServicesAmt |
| Management And General | $2,259 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $10,852 | TotalAmt |
| Program Services | $5,426 | ProgramServicesAmt |
| Management And General | $5,426 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,700 | TotalAmt |
| Management And General | $1,700 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $27,133 | TotalAmt |
| Management And General | $27,133 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $153,424 | TotalAmt |
| Management And General | $153,424 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,708 | TotalAmt |
| Program Services | $5,854 | ProgramServicesAmt |
| Management And General | $5,854 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $137,574 | TotalAmt |
| Program Services | $68,787 | ProgramServicesAmt |
| Management And General | $68,787 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,814 | TotalAmt |
| Management And General | $14,814 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $147,863 | TotalAmt |
| Program Services | $147,863 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,333 | TotalAmt |
| Program Services | $1,167 | ProgramServicesAmt |
| Management And General | $1,166 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $62,726 | TotalAmt |
| Management And General | $62,726 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| MISCELLANEOUS | $45,906 | $0 | $45,906 |
| GIFTS | $26,487 | $0 | $26,487 |
| TELEPHONE | $5,046 | $5,046 | $0 |
| POSTAGE | $4,214 | $4,214 | $0 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $210 | TotalAmt |
| Management And General | $210 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $992,726 | TotalAmt |
| Program Services | $507,475 | ProgramServicesAmt |
| Management And General | $485,251 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,653 | BOYAmt |
| EOY | $33,330 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $64,185 | BOYAmt |
| EOY | $90,613 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $38,115 | BOYAmt |
| EOY | $30,639 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $51,392 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $45,358 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,367 | BOYAmt |
| EOY | $6,034 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,224,617 | BOYAmt |
| EOY | $23,473,770 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,093,525 | BOYAmt |
| EOY | $1,458,575 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $958,502 | BOYAmt |
| EOY | $2,243,359 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,409,964 | BOYAmt |
| EOY | $27,336,320 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $11,997 | BOYAmt |
| EOY | $9,320 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $206,087 | BOYAmt |
| EOY | $1,484,489 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $218,084 | BOYAmt |
| EOY | $1,493,809 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $23,555,594 | BOYAmt |
| EOY | $25,206,225 | EOYAmt |
Donor Restriction Net Assets DonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $636,286 | BOYAmt |
| EOY | $636,286 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,191,880 | BOYAmt |
| EOY | $25,842,511 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,409,964 | BOYAmt |
| EOY | $27,336,320 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $561,084 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,098,773 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$9,226 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Other | Yes (X) | MethodOfAccountingOtherInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nonded | Yes (1) | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | 0 | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | 0 | AgreeCarryoverPriorYearInd |
Schedule D IRS990ScheduleD
Art Public Exhibition Amounts ArtPublicExhibitionAmountsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Assets Included | $750,396 | AssetsIncludedAmt |
Held Works Art HeldWorksArtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Assets Included | $750,396 | AssetsIncludedAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Collection Used Pub Exhibition | Yes (X) | CollectionUsedPubExhibitionInd |
| Collection Used Preservation | Yes (X) | CollectionUsedPreservationInd |
| Solicited Assets Sale | 0 | SolicitedAssetsSaleInd |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $22,191 | OtherCostOrOtherBasisAmt |
| Depreciation | $16,158 | DepreciationAmt |
| Book Value | $6,033 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $29,201 | OtherCostOrOtherBasisAmt |
| Depreciation | $29,200 | DepreciationAmt |
| Book Value | $1 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $6,034 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ALTERNATIVE INVESTMENTS | Desc |
| Book Value | $1,458,575 | BookValueAmt |
| Method Valuation | F | MethodValuationCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $1,458,575 | TotalBookValueSecuritiesAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| INEXHAUSTIBLE COLLECTIONS AND BOOKS | $750,396 |
| INTEREST AND DIVIDENDS RECEIVABLE | $22,735 |
| ROU ASSETS - NET | $1,470,228 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $2,243,359 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (2 entries)
| DescDesc | AmtAmt |
|---|---|
| OPERATING LEASE LIABILITY - CURRENT | $93,561 |
| OPERATING LEASE LIABILITY - LONG TERM | $1,390,928 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $1,484,489 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $2,499,205 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $1,098,773 | NetUnrealizedGainsInvstAmt |
| Revenue Not Reported | $1,098,773 | RevenueNotReportedAmt |
| Revenue Subtotal | $1,400,432 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $153,424 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | -$46 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $153,378 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $1,553,810 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $848,574 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $848,574 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $153,424 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | -$9,272 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $144,152 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $992,726 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART III, LINE 4: | THE SOCIETY HAS A COLLECTION OF INEXHAUSTIBLE ARTS AND BOOKS. THE ITEMS ARE ON DISPLAY AT THE SOCIETY'S OFFICES LOCATED IN THE BOSTON NATIONAL HISTORICAL PARK. THEY REVEAL NOT ONLY THE HISTORY OF A DISTINGUISHED INSTITUTION BUT ALSO HELP TELL THE STORY OF ONE OF THE AMERICA'S OLDEST AND MOST IMPORTANT PORTS. |
| PART X, LINE 2: | IN ACCORDANCE WITH SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THE SOCIETY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES ON ITS INCOME AND, ACCORDINGLY, THE FINANCIAL STATEMENTS DO NOT REFLECT A PROVISION FOR INCOME TAXES. INSTEAD, THE SOCIETY IS LIABLE FOR FEDERAL AND STATE TAXES ON THE SOCIETY'S UNRELATED TAXABLE BUSINESS INCOME. THESE DETERMINATIONS HAVE BEEN REVIEWED ACCORDING TO GUIDANCE IN A RECENT FINANCIAL ACCOUNTING STANDARDS BOARD PRONOUNCEMENT RELATED TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES. IN DETERMINING THE RECOGNITION OF UNCERTAIN TAX POSITIONS, THE SOCIETY APPLIES A MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD AND DETERMINS THE MEASUREMENT OF UNCERTAIN TAX POSITIONS CONSIDERING THE AMOUNT AND PROBABILITIES OF THE OUTCOMES THAT COULD BE REALIZED UPON ULTIMATE SETTLEMENT WITH TAXING AUTHORITIES. AS OF DECEMBER 31, 2024, THE SOCIETY HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SOCIETY IS GENERALLY SUBJECT TO POTENTIAL EXAMINATION BY TAXING JURISDICTIONS FOR THE THREE PRIOR YEARS. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | RECLASS TAX REFUND -46. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | ACCRUAL TO CASH BASIS ADJUSTMENTS 2,677. BOOK TO TAX DIFFERENCE -11,903. RECLASS TAX REFUND -46. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| MASSACHUSETTS MARITIME ACADEMY | ||||||||
| 101 ACADEMY DRIVE | BUZZARDS BAY | MA | 02532 | 237025807 | 501(C)(3) | $20,000 | $0 | PHASE II OF MAINTENANCE AND RESTORATION OF MANNED MODEL FLEET |
| MAINE MARITIME ACADEMY | ||||||||
| PO BOX C-3 | CASTINE | ME | 04420 | 016000724 | 501(C)(3) | $20,000 | $0 | UPGRADE LIBRARY (INCLUDES BMS CORNER), ANTI-EXPOSURE SUITS, & 2025 CMA SHIPPING CONFERENCE |
| PROPELLER CLUB PORT OF BOSTON | ||||||||
| 25 DORCHESTER AVENUE 51676 | BOSTON | MA | 02205 | 474112336 | 501(C)(3) | $7,500 | $0 | SUPPORT PROMOTION OF RELATIONSHIPS AND TOWARDS SCHOLARSHIPS AT MARITIME DAY AND USCG NIGHT |
| SEAFARER'S FRIEND | ||||||||
| 11 BROADWAY | CHELSEA | MA | 02150 | 770395654 | 501(C)(3) | $10,000 | $0 | OFFSET COST OF TWO BOSTON BASED VEHICLES |
Grants Other Asst To Indiv In US GrantsOtherAsstToIndivInUSGrp (3 entries)
| Grant TypeGrantTypeTxt | Cash GrantCashGrantAmt |
|---|---|
| SCHOLARSHIPS FOR STUDENTS ATTENDING MASSACHUSETTS MARITIME ACADEMY ASSOCIATED WITH THE EDUCATION & PRESERVATION OF THE COAST. | $35,000 |
| SCHOLARSHIPS FOR STUDENTS ATTENDING MAINE MARITIME ACADEMY ASSOCIATED WITH THE EDUCATION & PRESERVATION OF THE COAST. | $35,000 |
| RELIEF GRANT FUNDS PROVIDED TO SURVIVORS OF MEMBERS WHO ARE IN NEED OF FINANCIAL ASSISTANCE. | $20,000 |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | GRANTEES ARE ENCOURAGED TO PROVIDE THE SOCIETY WITH SUMMARIES OF HOW THE GRANTEE ORGANIZATION UTILIZED THE FUNDS RECEIVED FROM THE BOSTON MARINE SOCIETY AND TO UPDATE THE SOCIETY ON THE SUCCESSES OF THE PROGRAMS THAT RECEIVED FUNDING. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | THE ORGANIZATION HAS A BODY OF MEMBERSHIP THAT HAVE SUBMITTED APPLICATIONS FOR THEIR MEMBERSHIP TO THE BOARD OF TRUSTEES, WHO REVIEW AND APPROVE MEMBERSHIPS IN ACCORDANCE WITH THE SOCIETY'S BY-LAWS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERSHIP OF THE SOCIETY ELECT THE MEMBERS OF THE BOARD OF TRUSTEES AT THE SOCIETY'S ANNUAL MEETING, WHICH IS HELD EACH YEAR IN NOVEMBER. |
| FORM 990, PART VI, SECTION A, LINE 7B | DECISIONS OF THE BOARD OF TRUSTEES ARE SUBJECT TO APPROVAL OF THE MEMBERS. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE BOARD OF TRUSTEES REVIEWS FORM 990 AND IT IS APPROVED BY THE AUDIT AND FINANCE COMMITTEE. |
| FORM 990, PART VI, SECTION B, LINE 12C | CONFLICTS OF INTEREST ARE DOCUMENTED FIRST AND LATER DISCUSSED IN BOARD OF TRUSTEES MEETING. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST AT THE SOCIETY'S OFFICE. ALSO, THE FINANCIAL STATEMENTS ARE ON FILE WITH THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE, PUBLIC CHARITIES DIVISION AS THE FINANCIAL STATEMENTS ARE REQUIRED TO BE SUBMITTED ANNUALLY WITH THE MASSACHUSETTS FORM PC. |
| FORM 990, PART XI, LINE 9: | EXPENSES ON 990 NOT RECORDED ON BOOKS(BOOK TO TAX DIFF-NET) -9,226. |
| FORM 990, PART XII, LINE 1 | ACCOUNTING METHOD: MODIFIED CASH BASIS |
| FORM 990, PART XII, LINE 2C | THE SOCIETY'S TRUSTEES HAVE ESTABLISHED AN AUDIT COMMITTEE, MADE UP OF MEMBERS OF THE BOARD OF TRUSTEES THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF THE INDEPENDENT AUDITOR. |