Wellfleet Shellfish Promotion And Tasting Inc
- Assets
- $958.4k
- Revenue
- $756.0k
- Investments
- $200.7k
- Employees
- 2
- Location
- Wellfleet, MA
- Founding
- 06/2003
- Data as of
- 12/2023
- EIN
- 43-1973181
Organization Overview
Wellfleet Shellfish Promotion And Tasting Inc, operating under the name Wellfleet Spat, is located in Wellfleet, MA. The organization was established in 2003. 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, Wellfleet Spat employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Wellfleet Spat 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, Wellfleet Spat generated $756.0k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.9% each year. All expenses for the organization totaled $621.1k during the year ending 12/2023. While expenses have increased by 7.4% 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
THE ORGANIZATION IS DEVOTED TO PRESERVING, PROTECTING AND PROMOTING WELLFLEET, MASSACHUSETTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SPONSORSHIP AND AWARENESS BUILDING PROGRAMS TO PROMOTE THE SHELLFISHING INDUSTRY IN WELLFLEET, MASSACHUSETTS.
GRANTS AWARDED TO STUDENTS PURSUING CAREERS IN THE MARINE SCIENCES AND COMMUNITY GRANTS TO THOSE WHOSE EDUCATIONAL CONTRIBUTIONS WILL INCREASE AWARENESS OF WELLFLEETS SHELLFISHERY.
INSURANCE TO PROTECT THE GENERAL PUBLIC FOR LIABILITY ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carli Bertrand Director | Trustee | 10 | $0 |
Jodi Birchall Director | Trustee | 10 | $0 |
Lisa Brown Clerk | OfficerTrustee | 10 | $0 |
Janet Drohan Director | Trustee | 10 | $0 |
Nancy O'connell President | OfficerTrustee | 10 | $0 |
Alfred Picard Director | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $36,136 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $133,995 |
| Noncash contributions included in lines 1a–1f | $31,468 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $170,131 |
| Total Program Service Revenue | $575,692 |
| Investment income | $10,217 |
| 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 | $756,040 |
| 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 | $82,480 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,170 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $880 |
| Fees for services: Accounting | $18,806 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,452 |
| Advertising and promotion | $31,600 |
| Office expenses | $20,251 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,334 |
| Insurance | $10,053 |
| All other expenses | $3,576 |
| Total functional expenses | $621,052 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $613,528 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,376 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $36,931 |
| Inventories for sale or use | $14,379 |
| Prepaid expenses and deferred charges | $6,719 |
| Net Land, buildings, and equipment | $1,500 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $200,725 |
| Investments—program-related | $70,000 |
| Intangible assets | $10,214 |
| Other assets | $0 |
| Total assets | $958,372 |
| Accounts payable and accrued expenses | $1,435 |
| Grants payable | $10,000 |
| 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 | $17,500 |
| Total liabilities | $28,935 |
| Net assets without donor restrictions | $929,437 |
| 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 | $958,372 |
Grants Awarded
Over the last fiscal year, Wellfleet Shellfish Promotion And Tasting Inc has awarded $20,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TOWN OF WELLFLEET MAINTENANCE DREDGING FUND PURPOSE: TO HELP THE TOWN WITH ONGOING MAINTENANCE DREDGING IN ORDER TO NAVIGATE A HEALTH HARBOR. | $10,000 |
BARNSTABLE COUNTY CAPE COD COOPERATIVE EXTENSION (NOAA) SEA GRANT PURPOSE: TO HELP EXPLORE MARKET DEVELOPMENT TO DIVERSIFY SHELLFISH ACQUACULTURE PRODUCTS IN MASSACHUSETTS | $10,000 |