Commercial Fisheries Research Foundation Inc
- Assets
- $1.5m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 11
- Location
- Saunderstown, RI
- Founding
- 12/2008
- Data as of
- 06/2023
- EIN
- 86-1116341
Organization Overview
Commercial Fisheries Research Foundation Inc is located in Saunderstown, RI. The organization was established in 2008. According to its NTEE Classification (D99) the organization is classified as: Animal-Related N.E.C., under the broad grouping of Animal-Related and related organizations. As of 06/2023, Commercial Fisheries Research Foundation Inc employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Commercial Fisheries Research 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 06/2023, Commercial Fisheries Research Foundation Inc generated $2.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 33.4% each year . All expenses for the organization totaled $2.1m during the year ending 06/2023. While expenses have increased by 27.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE COMMERCIAL FISHERIES RESEARCH FOUNDATION IS TO SUPPORT AND CONDUCT RESEARCH AND EDUCATION THAT ASSISTS IN THE ACHIEVEMENT OF SUSTAINABLE FISHERIES THROUGH THE GENERATION OF BETTER INFORMATION AND EFFECTIVE TECHNOLOGIES FOR THE BENEFIT
Describe the Organization's Program Activity:
Part 3 - Line 4a
ATLANTIC STATE MARINE FISHERIES COMMISSION: AMERICAN LOBSTER MATURITY ASSESSMENT PROJECT COLLECTS SPECIES/DATA TO MONITOR AND HELP DETERMINE THE EFFECTS OF INCREASED WATER TEMPERATURES ON LOBSTER SIZES AT MATURITY AND GROWTH PATTERNS.
THE SCUP FILLET MARKETING AND PRODUCTION, SHELF RESEARCH, PILOTING AUTOMATIC SQUID JIGGING AND OTHER PROJECTS ARE MAINTAINED AND OVERSEEN BY CFRF THROUGHOUT THE YEAR.
THE BLACK SEAS BASS RESEARCH FLEET PROJECT EMPLOYS EIGHT RI COMMERCIAL AND RECREATIONAL FISHERMEN UTILIZING A VARIETY OF GEAR TYPES TO COLLECT BIOLOGICAL AND FISHERY DATA ON BLACK SEA BASS THROUGHOUT THE YEAR. DATA IS COLLECTED AND TRANSMITTED TO THE CFRF USING A SPECIFICALLY DESIGNED BLACK SEA BASS SAMPLING APPLICATION ON ANDRIOD TABLETS.
CFRF IN PARTNERSHIP WITH LOCAL FISHERMEN ARE CONDUCTING PRE- CONSTRUCTION FISHERIES MONITORING SURVEYS OF THE SOUTH FORK OFFSHORE WIND FARM. IT INCLUDES UP TO 15 WIND TURBINE GENERATORS,SUBMARINE CABLES BETWEEN TURBINES AND OFFSHORE SUBSTATION. THE PROJECT AIMS TO COLLECT PRE-CONSTRUCTION DATA ON 1)THE ABUNDANCE,SIZE STRUCTURE, AND DISTRIBUTION OF MARINE SPECIES AND 2)OCEANOGRAPHIC DATA THAT CAN BE USED TO CHARACTERIZE THE CONDITIONS OF THE SOUTH FORK WIND FARM LEASE AREA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Fred Mattera President | OfficerTrustee | 12 | $10,000 |
John Kennedy Vice-President | OfficerTrustee | 12 | $0 |
Chris Lee Treasurer | OfficerTrustee | 12 | $0 |
Donald Fox Board Member | Trustee | 1 | $0 |
Jeff Grant Board Member | Trustee | 1 | $0 |
Jon Knight Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $659,360 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,231,957 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,891,317 |
| Total Program Service Revenue | $0 |
| Investment income | $2 |
| 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 | $2,891,319 |
| 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. | $144,273 |
| Compensation of current officers, directors, key employees. | $40,791 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $604,563 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $71,303 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $563 |
| Fees for services: Accounting | $16,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,034,580 |
| Advertising and promotion | $5,594 |
| Office expenses | $28,051 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $39,068 |
| 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 | $21,234 |
| Insurance | $65,485 |
| All other expenses | $111,820 |
| Total functional expenses | $2,142,534 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $821,881 |
| Savings and temporary cash investments | $3,067 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $587,890 |
| 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 | $6,723 |
| Net Land, buildings, and equipment | $66,676 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,486,237 |
| Accounts payable and accrued expenses | $308,561 |
| 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 | $5,000 |
| Total liabilities | $313,561 |
| Net assets without donor restrictions | $211,594 |
| Net assets with donor restrictions | $961,082 |
| 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 | $1,486,237 |