Atlantic Challenge Foundation Inc
- Assets
- $818.7k
- Revenue
- $689.5k
- Investments
- $0.0
- Employees
- 25
- Location
- Rockland, ME
- Founding
- 10/1991
- Data as of
- 12/2021
- EIN
- 22-3132234
Organization Overview
Atlantic Challenge Foundation Inc is located in Rockland, ME. The organization was established in 1991. According to its NTEE Classification (Q21) the organization is classified as: International Cultural Exchange, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Atlantic Challenge Foundation Inc employed 25 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Atlantic Challenge Foundation 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 12/2021, Atlantic Challenge Foundation Inc generated $689.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.5% each year. All expenses for the organization totaled $609.9k during the year ending 12/2021. While expenses have increased by 2.7% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE APPRENTICESHOP IS A COMMUNITY THAT CULTIVATES THINKERS, MAKERS, AND DOERS THROUGH TRADITIONAL BOAT BUILDING AND SEAMANSHIP TO NAVIGATE AN EVER-CHANGING WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
APPRENTICE PROGRAM: AT THE APPRENTICESHOP, WE LEARN BY DOING AND WE BELIEVE THAT ALL PEOPLE ARE CAPABLE OF BUILDING AND SAILING BOATS. BY NAVIGATING CHALLENGES WITHIN A SUPPORTIVE COMMUNITY, WE COME TO UNDERSTAND WHAT WE ARE CAPABLE OF, AND TO BUILD RESILIENCE, SELF-CONFIDENCE AND RESOURCEFULNESS IN THE PROCESS. OUR APPRENTICE PROGRAM IS ANCHORED IN HANDS-ON, EXPERIENTIAL EDUCATION WITH THE BOAT AS THE CURRICULUM. DURING THE SEASON, SEAMANSHIP IS PRACTICED WEEKLY WITH TWO WEEK-LONG EXPEDITIONS A YEAR. APPRENTICESHIPS LAST EITHER 12 WEEKS, 9 MONTHS, OR 2 YEARS. WE ALSO OFFER SHORT WORKSHOPS FOR ADULTS IN BOATBUILDING RELATED SKILLS ON EVENINGS AND WEEKENDS.
SAILING YOUTH AND ADULT: FROM MARCH THROUGH OCTOBER WE PROVIDE ACCESS TO THE WATER AND OUR MARITIME HERITAGE THROUGH SAILING PROGRAMS FOR AGES 6 AND UP. OUR PROGRAMS INCLUDE: A)FALL AND SPRING HIGH SCHOOL SAILING; B)FALL MIDDLE SCHOOL SAILING; C)YOUTH SUMMER SAILING CAMP, AND D)ADULT SAILING COURSES. NO PREVIOUS EXPERIENCE IS REQUIRED AND ALL PARTICIPANTS ARE GIVEN THE OPPORTUNITY TO DEVELOP RESILIENCE, SELF-CONFIDENCE AND RESOURCEFULNESS WHILE BUILDING SEAMANSHIP SKILLS IN A FUN AND SUPPORTIVE ENVIRONMENT. WITH SUPPORT FROM ORGANIZATIONS AND INDIVIDUALS, WE STRIVE TO MAKE ALL OUR PROGRAMS ACCESSIBLE REGARDLESS OF ABILITY TO PAY.
JR. APPRENTICESHIP: FOR LOCAL YOUTH IN MIDDLE AND HIGH SCHOOL, WE PARTNER WITH SCHOOL DISTRICTS IN THE REGION TO OFFER A JUNIOR APPRENTICESHIP. STUDENTS COME TO THE APPRENTICESHOP DURING AND AFTER SCHOOL TO LEARN BOTH TRADITIONAL BOATBUILDING AND SEAMANSHIP. THE CENTERPIECE OF THE JR. APPRENTICESHIP IS THE CONSTRUCTION OF A TRADITIONAL PORTUGUESE SAILING SARDINE CARRIER OR CANOA DA PICADA. WHILE JR. APPRENTICES WILL PRACTICE A VARIETY OF SKILLS, FROM SHOP SAFETY, BASIC TOOL USE AND WOODWORKING TO KNOT TYING AND ROWING, ALL OF THE STUDENTS WILL CONTRIBUTE TO SOME PART OF THE CONSTRUCTION OF THIS LARGE, MULTI-YEAR PROJECT. AS WITH ALL OF OUR PROGRAMS, THE JR. APPRENTICESHIP REQUIRES COLLABORATION AND PUSHES YOUNG PEOPLE TO SEE WHAT THEY ARE CAPABLE OF, WHILE BUILDING RESILIENCE, SELF-CONFIDENCE, AND RESOURCEFULNESS IN THE PROCESS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Isabella Zp Feracci Executive Dir. | OfficerTrustee | 40 | $65,793 |
Tim Clark Director | Trustee | 1 | $0 |
David Cockey Director | Trustee | 1 | $0 |
Francis I Blair Director | Trustee | 1 | $0 |
Keith Davie Director | Trustee | 1 | $0 |
Steve Anderson Chairman | OfficerTrustee | 6 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $69,615 |
| All other contributions, gifts, grants, and similar amounts not included above | $405,879 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $475,494 |
| Total Program Service Revenue | $209,115 |
| Investment income | $18,443 |
| 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 | -$16,943 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $689,470 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $26,010 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $63,479 |
| Compensation of current officers, directors, key employees. | $63,479 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $262,016 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,438 |
| Payroll taxes | $27,212 |
| 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 | $0 |
| Fees for services: Other | $14,244 |
| Advertising and promotion | $12,071 |
| Office expenses | $23,144 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,043 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,882 |
| Insurance | $18,652 |
| All other expenses | $1,731 |
| Total functional expenses | $609,882 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $297,669 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,698 |
| 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 | $394,235 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $116,102 |
| Total assets | $818,704 |
| Accounts payable and accrued expenses | $12,437 |
| Grants payable | $0 |
| Deferred revenue | $31,110 |
| 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 | $286,841 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,874 |
| Total liabilities | $339,262 |
| Net assets without donor restrictions | $180,471 |
| Net assets with donor restrictions | $298,971 |
| 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 | $818,704 |