Downeast Institute For Applied Marine Research And Education Inc
- Assets
- $6.4m
- Revenue
- $2.7m
- Investments
- $1.0k
- Employees
- 35
- Location
- Beals Island, ME
- Founding
- 04/1997
- Data as of
- 12/2023
- EIN
- 01-0452403
Organization Overview
Downeast Institute For Applied Marine Research And Education Inc is located in Beals Island, ME. The organization was established in 1997. According to its NTEE Classification (D33) the organization is classified as: Fisheries Resources, under the broad grouping of Animal-Related and related organizations. As of 12/2023, Downeast Institute For Applied Marine Research And Education Inc employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Downeast Institute For Applied Marine Research And Education Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Downeast Institute For Applied Marine Research And Education Inc generated $2.7m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.4% each year . All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 12.1% per year over the past 9 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
TO DEVELOP AND ENHANCE MAINE'S MARINE RESOURCES THROUGH APPLIED SCIENTIFIC RESEARCH, TECHNOLOGY TRANSFER, PUBLIC EDUCATION AND AQUACULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE DOWNEAST INSTITUTE CONDUCTS RESEARCH AND TECHNOLOGY TRANSFER TO HELP SPUR INNOVATION IN PUBLIC AND PRIVATE SHELLFISH AQUACULTURE. WE CONDUCT K-12 PROGRAMMING AND PROFESSIONAL EDUCATOR DEVELOPMENT IN MARINE SCIENCE AND OFFER UNDERGRADUATE AND GRADUATE LEVEL INTERNSHIPS FOR COLLEGE STUDENTS. WE PROVIDE FACILITIES AND SERVICES TO RESEARCHERS AS THE EASTERN MOST MARINE SCIENCE FIELD STATION IN THE UNITED STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lynn Alley Chair | OfficerTrustee | 4 | $23,104 |
Dr Sherrie Sprangers Vice Chair | OfficerTrustee | 4 | $0 |
Jane Hinson Clerk/treasurer | OfficerTrustee | 2 | $0 |
Jason Alley Director | Trustee | 1 | $0 |
Jonathan Alley Director | Trustee | 1 | $0 |
Christopher Bartlett Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bowman Constructors Construction | 12/30/18 | $601,382 |
King Construction Services Construction | 12/30/18 | $123,916 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,392,943 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,036,892 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,429,835 |
| Total Program Service Revenue | $219,720 |
| Investment income | $35,355 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $13,065 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,697,975 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $155,899 |
| Compensation of current officers, directors, key employees. | $28,054 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $784,509 |
| Pension plan accruals and contributions | $13,226 |
| Other employee benefits | $50,062 |
| Payroll taxes | $79,886 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $33,150 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $158,283 |
| Advertising and promotion | $0 |
| Office expenses | $44,460 |
| Information technology | $21,413 |
| Royalties | $0 |
| Occupancy | $417,288 |
| Travel | $20,973 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $52,405 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,830 |
| Insurance | $124,908 |
| All other expenses | $6,697 |
| Total functional expenses | $2,367,998 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $371,142 |
| Savings and temporary cash investments | $32,870 |
| Pledges and grants receivable | $312,278 |
| Accounts receivable, net | $55,188 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,434,450 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $44,525 |
| Net Land, buildings, and equipment | $2,184,444 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,435,897 |
| Accounts payable and accrued expenses | $159,481 |
| 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 | $1,184,305 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $950,344 |
| Total liabilities | $2,294,130 |
| Net assets without donor restrictions | $3,753,371 |
| Net assets with donor restrictions | $388,396 |
| 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 | $6,435,897 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Atlantic Salmon Federation Inc Calais, ME | $22,618,383 | $10,301,297 |
Downeast Institute For Applied Marine Research And Education Inc Beals Island, ME | $6,435,897 | $2,697,975 |
Downeast Salmon Federation Columbia Falls, ME | $5,972,156 | $2,129,209 |
Maine Coast Community Sector Brunswick, ME | $279,059 | $1,299,298 |
Project Share Cherryfield, ME | $52,137 | $414,180 |
Xi Northeast Fishery Sector Inc Portsmouth, NH | $342,855 | $0 |
Trout Unlimited Littleton, NH | $79,137 | $0 |
Powwow Pond Council Inc Kingston, NH | $16,094 | $0 |
Northeast Coastal Communities Sector Stonington, ME | $56,383 | $0 |