Penobscot River Restoration Tr
- Assets
- $929.9k
- Revenue
- $45.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Augusta, ME
- Founding
- 10/2005
- Data as of
- 12/2021
- EIN
- 20-1437259
Organization Overview
Penobscot River Restoration Tr is located in Augusta, ME. The organization was established in 2005. According to its NTEE Classification (C32) the organization is classified as: Water Resources, Wetlands Conservation & Management, 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. Penobscot River Restoration Tr 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 12/2021, Penobscot River Restoration Tr generated $45.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (46.3%) each year. All expenses for the organization totaled $23.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (55.5%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RESTORE SELF-SUSTAINING POPULATIONS OF NATIVE SEA-RUN FISH AND THE OVERALL ECOSYSTEM OF THE PENOBSCOT RIVER BY IMPROVING ACCESS TO NEARLY 1,000 MILES OF HISTORIC RIVER HABITAT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PENOBSCOT RIVER RESTORATION PROJECT IS A COLLABORATION BETWEEN THE PENOBSCOT INDIAN NATION, SEVEN CONSERVATIONS GROUPS, HYDROPOWER COMPANY PPL CORPORATION, AND STATE AND FEDERAL GOVERNMENTS, TO RESTORE 11 SPECIES OF SEA RUN FISH ON THE PENOBSCOT RIVER WHILE BALANCING HYDROPOWER PRODUCTION. THIS EXTRAORDINARY PROJECT HAS BEEN COMPLETED AND HAS HELPED RESTORE THE ECOLOGICAL INTEGRITY OF THE PENOBSCOT RIVER WATERSHED AND REVITALIZE THE RICH HISTORY OF THE CULTURAL TRADITIONS AND ECONOMIC OPPORTUNITIES IN COMMUNITIES UP AND DOWN THE RIVER. DURING 2010 THE FIRST PART OF THE PROJECT WAS COMPLETED WITH THE PURCHASE FROM THE PPL OF THE 3 DAMS ENCUMBERING THE PENOBSCOT: NAMELY, GREAT WORKS, VEAZIE, AND HOWLAND DAMS. IN 2012 GREAT WORKS DAM WAS REMOVED FROM THE RIVER; IN 2013 AND 2014, THE VEAZIE DAM WAS REMOVED. IN 2015, FISH BY-PASS WAS CONSTRUCTED AT THE HOWLAND DAM SITE. IN 2016, THE HOWLAND PROJECT WAS COMPLETED, AND RIVER QUALITY MONITORING CONTINUED. THE BOARD OF THE PENOBSCOT RIVER RESTORATION TRUST WILL CONTINUE TO OPERATE, WITHOUT STAFFING, UNTIL 2030 WHEN VARIOUS FEDERAL MONITORING OBLIGATIONS WILL BE MET.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Hudson President | OfficerTrustee | 1 | $0 |
Andrew Goode Treasurer | OfficerTrustee | 1 | $0 |
Kate Dempsey Vice President | OfficerTrustee | 1 | $0 |
Lisa Pohlmann Secretary | OfficerTrustee | 1 | $0 |
John Banks Director | Trustee | 1 | $0 |
Sally Stockwell Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $13,668 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $31,929 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,643 |
| 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. | $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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,698 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $246 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,619 |
| All other expenses | $0 |
| Total functional expenses | $23,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $25,430 |
| Savings and temporary cash investments | $41,943 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $862,524 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $929,897 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $929,897 |
| 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 | $929,897 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Penobscot River Restoration Tr has recieved totaling $135,100.
| Awarding Organization | Amount |
|---|---|
Nature Conservancy Arlington, VA PURPOSE: Conservation Activities | $85,100 |
Maine Community Foundation Inc Ellsworth, ME PURPOSE: Water Resources, Wetlands Conservation & Management | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Coastal Rivers Conservation Trust Damariscotta, ME | $13,906,618 | $2,629,526 |
Maine Coast Fishermens Association Brunswick, ME | $1,658,455 | $1,744,192 |
Squam Lakes Association Holderness, NH | $9,739,864 | $1,722,976 |
Friends Of Casco Bay South Portland, ME | $2,926,094 | $1,343,610 |
Maine Rivers Yarmouth, ME | $267,446 | $665,121 |
Shallow River Properties Inc Washington St Conway, NH | $6,580,048 | $1,463,552 |
Midcoast Conservancy Edgecomb, ME | $14,271,594 | $1,144,535 |
Frenchman Bay Conservancy Hancock, ME | $6,160,152 | $1,838,771 |
Benevolent & Protective Order Of Elks Of The Usa Waterville, ME | $1,353,098 | $773,107 |
Squam Lakes Conservation Society Holderness, NH | $16,070,606 | $3,812,851 |
Lake Stewards Of Maine Auburn, ME | $737,517 | $581,322 |
Friends Of Cobbossee Watershed District East Winthrop, ME | $161,905 | $439,874 |