Ferry Cove Shellfish Inc
- Assets
- $120.0k
- Revenue
- $589.4k
- Investments
- $0.0
- Employees
- 7
- Location
- Sherwood, MD
- Founding
- Data as of
- 12/2022
- EIN
- 84-4611271
Organization Overview
Ferry Cove Shellfish Inc is located in Sherwood, MD. 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 12/2022, Ferry Cove Shellfish Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ferry Cove Shellfish 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 12/2022, Ferry Cove Shellfish Inc generated $589.4k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (36.9%) each year. All expenses for the organization totaled $1.3m during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
FERRY COVE SHELLFISH IS DESIGNING, PROMOTING AND IMPLEMENTING SUSTAINABLE AQUACULTURE-RELATED ACTIVITIES CONTINUED ON SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
FERRY COVE SHELLFISH IS COMMITTED TO THE LONG-TERM VIABILITY OF THE COMMERCIAL SHELLFISH INDUSTRY AND A THRIVING CHESAPEAKE BAY. WE COLLABORATE WITH SCIENTISTS, WATERMEN, BUSINESS OWNERS AND POLICY MAKERS TO ADDRESS THE CURRENT AND FUTURE NEEDS OF THIS FAST-GROWING INDUSTRY. OUR FACILITY IS DESIGNED TO PRODUCE SHELLFISH AND TO STUDY, IMPLEMENT AND DEMONSTRATE INNOVATIVE TECHNIQUES AND PROCESSES NEEDED TO ADVANCE THE EFFICIENCY AND COST EFFECTIVENESS OF THE AQUACULTURE COMMUNITY THROUGHOUT THE MID-ATLANTIC REGION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephan Abel President CEO | Officer | 40 | $176,421 |
Tina Davenport Member | Trustee | 1 | $0 |
James Perdue Member | Trustee | 1 | $0 |
Michael Roman Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $21,846 |
| All other contributions, gifts, grants, and similar amounts not included above | $300,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $321,846 |
| Total Program Service Revenue | $267,550 |
| Investment income | $0 |
| 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 | $589,396 |
| 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. | $210,823 |
| Compensation of current officers, directors, key employees. | $31,623 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $359,566 |
| Pension plan accruals and contributions | $20,256 |
| Other employee benefits | $68,668 |
| Payroll taxes | $42,102 |
| 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 | $12,976 |
| Advertising and promotion | $10,718 |
| Office expenses | $20,038 |
| Information technology | $11,706 |
| Royalties | $0 |
| Occupancy | $181,436 |
| Travel | $687 |
| 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 | $5,220 |
| Insurance | $2,408 |
| All other expenses | $0 |
| Total functional expenses | $1,275,414 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,874 |
| Savings and temporary cash investments | $0 |
| 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 | $29,100 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $119,974 |
| Accounts payable and accrued expenses | $25,389 |
| 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 | $25,389 |
| Net assets without donor restrictions | $94,585 |
| 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 | $119,974 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Fisheries Society Inc Bethesda, MD | $5,661,170 | $5,527,526 |
National Fisheries Institute Inc Reston, VA | $6,791,855 | $4,946,724 |
Ferry Cove Shellfish Inc Sherwood, MD | $119,974 | $589,396 |
Trout Unlimited Bellefonte, PA | $662,257 | $324,766 |
Fish America Foundation Alexandria, VA | $1,863,572 | $222,919 |
Rise Up Foundation Of Worcester County Berlin, MD | $92,400 | $0 |
Yellow Breeches Anglers & Conservation Association Inc Boiling Springs, PA | $310,538 | $185,272 |
Trout Unlimited Carlisle, PA | $176,085 | $0 |
Lehigh River Stocking Association Inc Danielsville, PA | $6,463 | $45,289 |
American Fisheries Society Bethesda, MD | $179,722 | $0 |
True Oyster Restoration Initiative Inc Baltimore, MD | $19,283 | $0 |