Maine Aquaculture Association
- Assets
- $1.4m
- Revenue
- $759.8k
- Investments
- $0.0
- Employees
- 4
- Location
- Gardiner, ME
- Founding
- 10/1981
- Data as of
- 09/2023
- EIN
- 01-0375969
Organization Overview
Maine Aquaculture Association is located in Gardiner, ME. The organization was established in 1981. According to its NTEE Classification (K20) the organization is classified as: Agricultural Programs, under the broad grouping of Food, Agriculture & Nutrition and related organizations. As of 09/2023, Maine Aquaculture Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Maine Aquaculture Association is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 09/2023, Maine Aquaculture Association generated $759.8k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 11.0% each year . All expenses for the organization totaled $676.8k during the year ending 09/2023. While expenses have increased by 14.2% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORT FOR THE MAINE AQUACULTURE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOP POLICIES, MANAGEMENT PLANS, AUDIT PROGRAMS, SYSTEM DESIGNS, AND STANDARDS FOR AQUATIC FARMING IN MAINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sebastian Belle Executive Direc | Officer | 40 | $93,238 |
Christopher V Davis PHD Current President | OfficerTrustee | 0.5 | $0 |
Andrew Lively Past President | OfficerTrustee | 0.5 | $0 |
Matthew Moretti Treasurer | OfficerTrustee | 0.5 | $0 |
Theo DE Koning Secretary | OfficerTrustee | 0.5 | $0 |
Joannajesse Fogg Director | Trustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $260,336 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $417,925 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $678,261 |
| Total Program Service Revenue | $0 |
| Investment income | $1,112 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $61,054 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $759,753 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $29,388 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $84,385 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $198,746 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $4,373 |
| Payroll taxes | $19,689 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $441 |
| Fees for services: Accounting | $17,000 |
| Fees for services: Lobbying | $20,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $120,480 |
| Advertising and promotion | $10,568 |
| Office expenses | $13,529 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $23,372 |
| Travel | $60,764 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,942 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,158 |
| All other expenses | $3,019 |
| Total functional expenses | $676,815 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $623,724 |
| Savings and temporary cash investments | $250,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $290,426 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $200,000 |
| Total assets | $1,364,150 |
| Accounts payable and accrued expenses | $13,934 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $13,934 |
| Net assets without donor restrictions | $1,350,216 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,364,150 |