SOUND WATERS INC
Mission Statement
SoundWaters was founded in 1989 with the mission to protect Long Island Sound through education and action. Since then, we have engaged hundreds of thousands of students and adults to build a deeper interest and literacy in science for improved school achievement and to raise awareness about the small differences we all can make to protect the health of the Sound. The schooner SoundWaters, our most visible and recognized resource, conducts 250 experiential education sails each season for school and community groups and public sails for everyone throughout the region. SoundWaters teaches over 28,000 students of all ages from CT and NY annually, including 9,000 on scholarship from low-income communities, aboard the schooner, in schools and at our Coastal Education Center in Stamford. We expand educational opportunities and achievement through fun, yet rigorous, hands-on science tied to classroom content and state education standards in partnership with 146 schools and organizations across the Long Island Sound region. Camp SoundWaters offers exciting, outdoor activities and learning on the shore and our sailing programs are training the next generation of mariners.
Financial Overview — FY 2024
Compared with Peers
FY 2024| Ratio | This org | Peer median | Position (P10 → P90) | |
|---|---|---|---|---|
|
Program expense ratio
Program expenses / total expenses
· higher is better
|
80.9% | 82.0% |
P10P90
|
Below median |
|
Admin expense ratio
Management and general / total expenses
· lower is better
|
8.3% | 12.2% |
P10P90
|
Above median |
|
Fundraising expense ratio
Fundraising expenses / total expenses
· lower is better
|
10.9% | 3.8% |
P10P90
|
Bottom quarter |
|
Fundraising efficiency
Fundraising expenses / gross fundraising income
· lower is better
|
926.3% | 334.8% |
P10P90
|
Bottom quarter |
|
Operating reserve
Months of expenses covered by net assets
· higher is better
|
54.2 mo | 13.4 mo |
P10P90
|
Top quarter |
|
Liabilities to assets
Total liabilities / total assets
· lower is better
|
6.0% | 8.5% |
P10P90
|
Above median |
|
Revenue concentration
Share of revenue from the largest source
· lower is better
|
69.9% | 90.7% |
P10P90
|
Top quarter |
|
Revenue growth
Year over year revenue growth
|
-29.1% | 11.6% |
P10P90
|
|
|
Expense growth
Year over year expense growth
|
31.6% | 13.0% |
P10P90
|
|
|
Surplus margin
Surplus as a share of revenue
|
-8.9% | 4.5% |
P10P90
|
Financial History
| Year | Revenue | Expenses | Net Assets | Program % | Staff |
|---|---|---|---|---|---|
| 2024 | $3.5M | $3.8M | $17.2M | 80.9% | 89 |
| 2023 | $4.9M | $2.9M | $17.4M | 79.1% | 88 |
| 2022 | $6.0M | $2.3M | $14.9M | 67.4% | 73 |
| 2021 | $7.5M | $2.1M | N/A | — | 73 |
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