Nonprofit · EIN 05-0507802
BLOCK ISLAND MARITIME FUNDING INC
Also known as MARITIME FUNDING
Tax-exempt (reinstated) · WAKEFIELD, RI 02880
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $4,310,795 | $1,592,386 | $2,718,409 | $4,829,041 | $239,961 | $4,589,080 |
| December 31, 2023 | 990 | $1,850,050 | $1,515,538 | $334,512 | $2,117,351 | $246,680 | $1,870,671 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $4,088,150
- Program service revenue
- $421,958
- Investment income
- -$199,313
- Net gain from sales of assets
- -$199,313
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $76,769
- Other salaries and wages
- $59,733
- Salaries, compensation and benefits (total)
- $156,420
- Professional fundraising fees
- $0
- Legal fees
- $2,761
- Accounting fees
- $30,849
- Occupancy
- $28,837
- Travel
- $41,561
- Depreciation
- $864,512
- Program services (functional)
- $1,406,388
- Management and general (functional)
- $185,998
Balance sheet and other
- Total assets, start of year
- $2,117,351
- Total assets, end of year
- $4,829,041
- Total liabilities, end of year
- $239,961
- Net assets, end of year
- $4,589,080
- Land, buildings and equipment
- $2,313,807
- Gross receipts
- $4,535,108
- Employees
- 5
- Year formed
- 2001
- State of legal domicile
- RI
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Richard T Harris | Director Trustee or director, Officer | 40 | $39,000 | $2,717 |
| Linda Harris | Secretary Trustee or director, Officer | 30 | $37,769 | $0 |
| Nathaniel Harris | President Trustee or director | 5 | $0 | $0 |
990 for the year ended December 31, 2023: 3 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RICHARD T HARRIS | PRESIDENT Trustee or director, Officer | 40 | $101,676 | $6,377 |
| LINDA HARRIS | SECRETARY Trustee or director, Officer | 30 | $34,169 | $0 |
| NATHANIEL HARRIS | DIRECTOR Trustee or director | 5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 5338, WAKEFIELD, RI 02880-5338
- In care of
- % NATHANIEL HARRIS
- Principal officer (990 for 2024)
- Nathaniel Harris, PO Box 5338, Wakefield, RI 02880
- Signed the 990
- Nathaniel Harris, President
- Phone
- (401) 842-0752
- Website
- maritimefunding.com
- Return prepared by
- Dolores Ricci-Norcott CPA
Mission
Supports youth sailing programs through Atlantic Challenge Foundation and Piers Island Maritime Institute
Program accomplishments
- Support programs promoting the education of children in various marine programsExpenses $1,406,388 · grants $7,850 · revenue $413,958
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 05-0507802
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2012
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Youth development (O50)
- Assets (IRS master file)
- $4,829,041
- Income (IRS master file)
- $4,535,108
Revocation and reinstatement
- Exemption revoked
- May 15, 2011
- Posted by the IRS
- February 22, 2012
- Reinstated
- Effective March 15, 2012
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $4,310,795 | $1,592,386 | $4,829,041 | XML |
| 990 | December 2023 | $1,850,050 | $1,515,538 | $2,117,351 | XML |
| 990 | December 2022 | $1,093,821 | $1,600,300 | $1,778,340 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 05-0507802).
Questions about BLOCK ISLAND MARITIME FUNDING INC
- What is the EIN of BLOCK ISLAND MARITIME FUNDING INC?
- The employer identification number (EIN) of BLOCK ISLAND MARITIME FUNDING INC is 05-0507802.
- Is BLOCK ISLAND MARITIME FUNDING INC tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2011 and reinstated it effective March 15, 2012.
- Are donations to BLOCK ISLAND MARITIME FUNDING INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does BLOCK ISLAND MARITIME FUNDING INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of BLOCK ISLAND MARITIME FUNDING INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did BLOCK ISLAND MARITIME FUNDING INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of BLOCK ISLAND MARITIME FUNDING INC?
- The 990 for the year ended December 31, 2024 names Nathaniel Harris.
- Who are the officers and directors of BLOCK ISLAND MARITIME FUNDING INC?
- The 990 for the year ended December 31, 2024 lists 3 people; 2 received compensation from the organization, the highest $39,000 (Richard T Harris, Director).
- How much revenue does BLOCK ISLAND MARITIME FUNDING INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $4,310,795, expenses of $1,592,386 and total assets of $4,829,041 at year end.
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