2026-01-30T10:50:21-06:00 2025-06-30 WITHUMSMITHBROWNPC 25 BRAINTREE HILL OFC PK SUITE 102 BRAINTREE MA 02184 990 2024-07-01 237025807 Massachusetts Maritime Academy Foundation Inc % ROSE-MARIE CASS MASS 5088305099 101 Academy Drive Buzzards Bay MA 025321803 Elizabeth Simmons VP OF EXT AFFAIRS 5088305099 2026-01-21 true true Thomas Parisi P00013287 6174711120 2024 2025-03-06 01:10:19Z Elizabeth Simmons 101 Academy Drive Buzzards Bay MA 025321803 25687141 false X WWW.MARITIME.EDU X 1968 MA THE MASSACHUSETTS MARITIME ACADEMY FOUNDATION EXISTS TO PROMOTE THE GENERAL WELFARE, ACADEMIC POSTURE, AND QUALITY OF LIFE OF THE REGIMENT OF CADETS BY GENERATING AND MANAGING PRIVATE FUNDS TO SUPPORT THE MISSION OF THE (SEE SCHEDULE O) 24 24 0 50 0 0 13270270 4919207 0 0 1245913 6123364 17329 258386 14533512 11300957 6352900 3960853 0 0 0 0 0 0 0 286586 286348 6639486 4247201 7894026 7053756 71033076 77850041 300489 63698 70732587 77786343 X TO PROVIDE SCHOLORSHIPS AND CONTRIBUTIONS IN SUPPORT OF MASSACHUSETTS MARITIME ACADEMY. false false 3960853 3960853 SCHOLARSHIPS AWARDED TO ACADEMY STUDENTS AND EXPENSES RELATED TO RECEIVING AND ACCOUNTING FOR DONATIONS. 3960853 true true false false false false false false true true true false false true true true false false false false false false false true false false true true true false false false false false false false false true false false false false true false true false true 1 0 true 0 false false false false true true false false false false false false false false false false X 24 24 false false false false false false false true true false false true true true true true true false false false MA X ROSE-MARIE CASS 5088305099 101 ACADEMY DRIVE BUZZARDS BAY MA 02532 X ELIZABETH B SIMMONS VP OF EXTERNAL AFFAIRS 1.0 39.0 X 0 188267 79072 BRENDAN P O'CONNOR CHAIR 1.0 0.0 X X 0 0 0 WILLIAM L WALKER VICE CHAIR 1.0 0.0 X X 0 0 0 DAVID S SMITH TREASURER 1.0 0.0 X X 0 0 0 JAMES R SANISLOW SECRETARY 1.0 0.0 X X 0 0 0 ROBERT L DELHOME BOARD MEMBER 1.0 0.0 X 0 0 0 CAPT BRIAN J FOURNIER BOARD MEMBER 1.0 0.0 X 0 0 0 JOHN J GALLAGHER BOARD MEMBER 1.0 0.0 X 0 0 0 PENNIE HARE BOARD MEMBER 1.0 0.0 X 0 0 0 DENNIS HOUSTON BOARD MEMBER 1.0 0.0 X 0 0 0 CAPT WILLIAM C KELLEY JR BOARD MEMBER 1.0 0.0 X 0 0 0 GERHARD E KURZ BOARD MEMBER 1.0 0.0 X 0 0 0 CAPT PETER J LAWRENCE BOARD MEMBER 1.0 0.0 X 0 0 0 ALAN MCKIM BOARD MEMBER 1.0 0.0 X 0 0 0 DAVID F MIK BOARD MEMBER 1.0 0.0 X 0 0 0 LOUIS M RICCIARDI BOARD MEMBER 1.0 0.0 X 0 0 0 BRUCE S ROSENBLATT BOARD MEMBER 1.0 0.0 X 0 0 0 J PAUL SACCONE BOARD MEMBER 1.0 0.0 X 0 0 0 MICHAEL D TUSIANI BOARD MEMBER 1.0 0.0 X 0 0 0 GEOFFREY C WILKINSON BOARD MEMBER 1.0 0.0 X 0 0 0 JONATHAN D POOR BOARD MEMBER 1.0 0.0 X 0 0 0 JEFFREY F HAMEL BOARD MEMBER 1.0 0.0 X 0 0 0 CAPT MARTIN E CONROY JR BOARD MEMBER 1.0 0.0 X 0 0 0 JOHN F ISBERG BOARD MEMBER 1.0 0.0 X 0 0 0 BRIAN F TOBIN BOARD MEMBER 1.0 0.0 X 0 0 0 0 188267 79072 0 false true false Morgan Stanley 600 Longwater Dr NORWELL MA 02061 Investment Fees 172465 1 555555 4363652 1874609 4919207 0 4529574 4529574 0 0 0 0 0 15958749 14364959 1593790 1593790 1593790 279611 21225 258386 258386 0 0 0 0 0 0 0 11300957 0 6381750 2332595 2332595 1628258 1628258 0 0 0 0 0 0 0 0 0 0 18581 18581 0 0 172465 172465 2470 2470 0 73259 73259 0 0 0 0 0 0 0 0 16053 16053 124 124 OPERATIONAL EXPENSES 3396 3396 4247201 3960853 286348 0 X 3906086 6011537 514566 536394 10844948 9329827 115851 181948 0 0 0 0 271560 285119 0 0 0 0 3818150 167222 3666981 3650928 50113084 55698733 1600000 1600000 0 0 0 0 0 555555 71033076 77850041 296726 60281 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3763 3417 300489 63698 X 23208652 26900242 47523935 50886101 70732587 77786343 71033076 77850041 7053756 X X false true X true false X 3007572 5276872 11109346 13270270 4919207 37583267 0 520480 542620 126468 152795 149678 1492041 3528052 5819492 11235814 13423065 5068885 39075308 14658065 24417243 429982 533996 808382 952858 4529574 7254792 0 155848 72838 319850 17229 279611 845376 47175476 0.51758 0.63568 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 40908948 2622095 3376082 1633299 45273826 30026845 6505818 5374662 998377 40908948 18930535 10446583 1690404 1040677 30026845 17216729 3517851 -866006 938039 18930535 14757550 1438067 2005986 984874 17216729 0.55220 0.44780 false false 2792891 2792891 1025259 167222 858037 3650928 0 GIFT ANNUITY 3417 3417 X 11299395 149678 21225 170903 11128492 172465 172465 11300957 4245639 149678 21225 170903 4074736 172465 172465 4247201 PART xi and part xii, line 2: Fundraising expenses - $21,225 PART V, LINE 4: THE INVESTMENT POLICY FOR ENDOWMENT FUNDS IS INTENDED TO PRESERVE CAPITAL TO THE EXTENT POSSIBLE AND PROVIDE A REASONABLE PREDICTABLE STREAM OF REVENUE IN ORDERE TO PROVIDE APPROPRIATE FUNDING TO THE PROGRAMS SUPPORTED BY ENDOWMENT FUNDS. part X, line 2: The Foundation has been notified by the Internal Revenue Service that it meets the qualifications to be classified as tax exempt entity under section 501(c)(3) of the Internal Revenue Code. As a not-for-profit entity exempt from income taxes, the Foundation may, however, be subject to tax on unrelated business income. Accounting principles generally accepted in the United States of America require an entity to assess the probability that a tax position has a more likely than not sustainability after review by tax authorities. If a tax position is deemed not to meet this threshold, any unrecognized tax benefits and costs are estimated and recognized. Tax returns are routinely open for review by the tax authorities for three from their due date. In certain circumstances, the statute of limitations may remain open indefinitely. Homecoming 37361 37361 2836 Salute Inc 242250 242250 18389 0 279611 279611 21225 21225 258386 true MASSACHUSETTS MARITIME ACADEMY 101 ACADEMY DRIVE BUZZARDS BAY MA 02532 046002284 115 2332595 ACADEMY SUPPORT 1 SCHOLARSHIPS 360 1628258 Part I Description of Procedure for Monitoring Use of Funds: First, the Foundation inspects charges to ensure that they are appropriate and allowable. This includes checking clerical accuracy, reviewing encumbrance balances and checking compliance with applicable agency, CDU and federal guidelines. The Foundation also makes sure that expenses fit within the required categories and budget amounts. This includes reviewing expenses categories, rebudgeting or transferring expenses as needed, and determining if the award will be under spent at the end of the budget or project period. false false false false false false false false false ELIZABETH B SIMMONS VP OF EXTERNAL AFFAIRS 188267 79072 267339 X 3 1874609 FMV 0 false false false Form 990, PART I, LINE 1: MASSACHUSETTS MARITIME ACADEMY. THE FOUNDATION'S MISSION IS TO ENHANCE OUR GRADUATES' PREEMINENT LEADERSHIP QUALIFICATIONS. form 990, part vi, section B, line 11b: AS PART OF THE FORM 990 REVIEW PROCESS THE FORM 990 NEEDS TO BE REVIEWED BY THE MASSACHUSETTS MARITIME ACADEMY FOUNDATION BOARD OF TRUSTEES OR WILL BE DELEGATED TO A SUB-COMMITTEE WHERE A MEMBER OF THE FINANCE COMMITTEE WILL BE ABLE TO REVIEW THE RETURN FOR COMPLETENESS AND ACCURACY. ONCE THE FORM 990 HAS BEEN APPROVED BY THE BOARD OF TRUSTEES OR A MEMBER OF THE FINANCE COMMITTEE THE FORM 990 THEN CAN BE FILED WITH THE INTERNAL REVENUE SERVICE AND THE MASSACHUSETTS ATTORNEY GENERAL'S OFFICE (IF APPLICABLE). FORM 990, PART VI, SECTION B, LINE 12C: PERSONS COVERED BY THIS POLICY WILL ANNUALLY DISCLOSE OR UPDATE TO THE CHAIRMAN OF THE BOARD OF DIRECTORS ON A FORM PROVIDED BY THE MASSACHUSETTS MARITIME ACADEMY FOUNDATION, INC. THEIR INTERESTS THAT COULD GIVE RISE TO CONFLICTS OF INTEREST, SUCH AS A LIST OF FAMILY MEMBERS, SUBSTANTIAL BUSINESS OR INVESTMENT HOLDINGS, AND OTHER TRANSACTIONS OR AFFILIATIONS WITH BUSINESSES AND OTHER ORGANIZATIONS OR THOSE OF FAMILY MEMBERS. FORM 990, PART VI, SECTION C, LINE 19: THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC THROUGH THE USE OF ITS WEB SITE AND THE PUBLISHING OF PRINTED REPORTS. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS AN AUDIT COMMITTER WHOSE PURPOSE 18 THE OVERSIGHT AND REVIEW OF THE AUDITED FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR. MASSACHUSETTS MARITIME ACADEMY 101 ACADEMY DRIVE BUZZARDS BAY MA 02532 046002284 HIGHER EDUCAT MA 115 N/A NA false false true false false false false false false false false false false false true true false false false MASSACHUSETTS MARITIME ACADEMY B 2332595 FMV mASSACHUSETTS MARITIME ACADEMY O 149678