Fair Tide Inc
- Assets
- $3.1m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 12
- Location
- Kittery, ME
- Founding
- 08/1999
- Data as of
- 06/2023
- EIN
- 01-0525140
Organization Overview
Fair Tide Inc is located in Kittery, ME. The organization was established in 1999. According to its NTEE Classification (L41) the organization is classified as: Homeless Shelters, under the broad grouping of Housing & Shelter and related organizations. As of 06/2023, Fair Tide Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fair Tide 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 06/2023, Fair Tide Inc generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.7% each year . All expenses for the organization totaled $502.6k during the year ending 06/2023. While expenses have increased by 7.9% per year over the past 7 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
FAIR TIDE'S MISSION IS TO REDUCE HOMELESSNESS BY PROVIDING HOUSING AND SUPPORT SERVICES TO INDIVIDUALS AND FAMILIES IN THE SEACOAST. THROUGH FAIR TIDE'S PERMANENT HOUSING PROGRAM, HOMELESS HOUSEHOLDS BENEFIT FROM INTENSIVE CASE MANAGEMENT SERVICES COUPLED WITH A SAFE AND STABLE PLACE TO LIVE. FAIR TIDE ALSO OPERATES A THRIFT STORE WHICH PROVIDES REVENUE FOR THE PROGRAMMING AND A VALUABLE RESOURCE FOR THE LOCAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FAIR TIDE MOVED 10 INDIVIDUALS FROM HOMELESSNESS INTO PERMANENT HOUSING. ADDITIONALLY, PROVIDED ONGOING SUPPORT FOR 30 HOUSEHOLDS AND DISTRIBUTED MONEY IN EMERGENCY ASSISTANCE TO HELP FOLKS STAY CURRENT WITH THEIR BILLS AND SECURE IN THEIR HOMES.
THE FAIR TIDE THRIFT STORE PROVIDES CRITICAL FUNDING FOR OUR MISSION TO HOUSE AND SUPPORT HOMELESS HOUSEHOLDS. THE THRIFT STORE ALSO ACTS AS A RESOURCE FOR OUR HOUSING PROGRAM RESIDENTS AND OTHER MEMBERS OF THE COMMUNITY IN NEED OF QUALITY HOUSEWARES AND CLOTHING AT AN AFFORDABLE PRICE.
DEVELOPING MAINSPRING - THE RESOURCE HUB OF SOCIAL SERVICES, AND 6-UNIT HOUSING PROJECT AT 22 SHAPLEIGH ROAD, KITTERY, ME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ali Goodwin Chair | OfficerTrustee | 1 | $0 |
Ryan Pope Vice Chair | OfficerTrustee | 1 | $0 |
Steven Epstein Treasurer | OfficerTrustee | 1 | $0 |
George Dow Board Member | Trustee | 1 | $0 |
Bill Dignan Board Member | Trustee | 1 | $0 |
Dale Keller Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $11,647 |
| Related organizations | $0 |
| Government grants | $154,795 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,353,680 |
| Noncash contributions included in lines 1a–1f | $18,734 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,520,122 |
| Total Program Service Revenue | $74,485 |
| Investment income | $7,483 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $234,197 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,836,287 |
| 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. | $78,056 |
| Compensation of current officers, directors, key employees. | $1,561 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $150,726 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,174 |
| Payroll taxes | $19,115 |
| Fees for services: Management | $7,296 |
| Fees for services: Legal | $1,000 |
| Fees for services: Accounting | $20,700 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $2,647 |
| Fees for services: Other | $31,572 |
| Advertising and promotion | $1,748 |
| Office expenses | $5,560 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $52,730 |
| Travel | $1,722 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,322 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,919 |
| Insurance | $14,163 |
| All other expenses | $4,802 |
| Total functional expenses | $502,588 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $461,435 |
| Savings and temporary cash investments | $85,235 |
| Pledges and grants receivable | $946,650 |
| Accounts receivable, net | $89,649 |
| 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 | $11,607 |
| Net Land, buildings, and equipment | $1,177,242 |
| Investments—publicly traded securities | $238,062 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $46,863 |
| Total assets | $3,056,743 |
| Accounts payable and accrued expenses | $20,158 |
| 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 | $94,834 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $48,681 |
| Total liabilities | $163,673 |
| Net assets without donor restrictions | $2,787,569 |
| Net assets with donor restrictions | $105,501 |
| 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 | $3,056,743 |