Cobscook Bay Resource Center Inc
- Assets
- $445.0k
- Revenue
- $3.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Eastport, ME
- Founding
- 02/2000
- Data as of
- 06/2020
- EIN
- 01-0529806
Organization Overview
Cobscook Bay Resource Center Inc is located in Eastport, ME. The organization was established in 2000. According to its NTEE Classification (C30) the organization is classified as: Natural Resources Conservation & Protection, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cobscook Bay Resource Center 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 06/2020, Cobscook Bay Resource Center Inc generated $3.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (36.3%) each year. All expenses for the organization totaled $47.0k during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE COBSCOOK BAY RESOURCE CENTER IS TO ENCOURAGE AND STENGTHEN COMMUNITY-BASED APPROACHES TO RESOURCE MANAGEMENT AND SUSTAINABLE ECONOMIC DEVELOPMENT OF THE COBSCOOK BAY REGION, THE BAY OF FUNDY AND THE GULF OF MAINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MISSION OF THE COBSCOOK BAY RESOURCE CENTER IS TO ENCOURAGE & STRENGTHEN COMMUNITY-BASED APPROACHES TO RESOURCE MANAGEMENT & SUSTAINABLE ECONOMIC DEVELOPMENT IN THE COBSCOOK BAY REGION, THE BAY OF FUNDY & THE GULF OF MAINE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carol Bryan Director | Trustee | 4 | $0 |
Charles Curtin Director | Trustee | 4 | $0 |
Elizabeth Sprague Director | Trustee | 4 | $0 |
Tari Camick Vice Chair | Officer | 4 | $0 |
John Charlton Treasurer | Officer | 4 | $0 |
Will Hopkins Executive Director | Officer | 40 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,653 |
| Investment income | $15 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,668 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,308 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $864 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,342 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $491 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $25,113 |
| Insurance | $1,516 |
| All other expenses | $0 |
| Total functional expenses | $47,038 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,027 |
| Savings and temporary cash investments | $7,400 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $9,797 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $444,968 |
| Accounts payable and accrued expenses | $0 |
| 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 | $34,137 |
| Secured mortgages and notes payable | $9,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,333 |
| Total liabilities | $48,470 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $396,498 |