Northern Southeast Regional Aquaculture Association Inc
- Assets
- $30.4m
- Revenue
- $10.2m
- Investments
- $0.0
- Employees
- 81
- Location
- Sitka, AK
- Founding
- 10/1977
- Data as of
- 06/2022
- EIN
- 92-0062550
Organization Overview
Northern Southeast Regional Aquaculture Association Inc is located in Sitka, AK. The organization was established in 1977. 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 06/2022, Northern Southeast Regional Aquaculture Association Inc employed 81 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northern Southeast Regional Aquaculture Association 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 06/2022, Northern Southeast Regional Aquaculture Association Inc generated $10.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $9.4m during the year ending 06/2022. While expenses have increased by 2.1% 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.
Since 2015, Northern Southeast Regional Aquaculture Association Inc has awarded 24 individual grants totaling $2,119,200. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST IN THE RESTORATION AND REHABILIATION OF ALASKA'S SALMON STOCKS, AND TO SUPPLEMENT THE FISHERIES OF ALASKA BY UTILIZING ARTIFICAL PROPAGATION TO ENHANCE THE AVAILABILITY OF SALMON TO ALL COMMON PROPERTY USERS, WITHOUT ADVERSELY AFFECTING WILD SALMON STOCKS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TOTAL EXPENSES OF NSRAA ARE DIRECTED TOWARD PRODUCING SALMON FRY AND SMOLT AT FOUR FACILITIES (MEDVEJIE, HIDDEN FALLS, GUNNUK CREEK & SMC HATCHERIES), AND ONE LAKE STOCKING PROGRAM AT DEER LAKE. THE PRODUCTION OF SALMON FRY AND SMOLT ARE RELEASED TO THE OCEAN ANNUALLY, AND RETURN IN TWO TO FOUR YEARS TIME, DURING WHICH THE FISH ARE A PUBLIC RESOURCE AND BELONG TO THE CITIZENS OF THE STATE OF ALASKA. THE PURPOSE OF RAISING AND RELEASING SALMON IS TO INCREASE THE COMMON PROPERTY CATCH AND VALUE IN SALMON FISHERIES THROUGHOUT SOUTHEAST ALASKA. NSRAA PRODUCES AND RELEASES APPROXIMATELY 250 MILLION CHUM SALMON FRY, 7.5 MILLION COHO SMOLT, AND 3.4 MILLION CHINOOK SMOLT ANNUALLY. THE VALUE TO COMMERCIAL AND SPORTS FISHERIES IS GENERALLY IN EXCESS OF 10 MILLION EACH YEAR. IN 2022, NSRAA VALUE TO COMMERCIAL FISHERIES WAS 6.75 MILLION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Scott Wagner General Mana | Officer | 40 | $160,000 |
Ilona Mayo Office Manag | Officer | 40 | $73,825 |
Adam Olson Operations M | $109,814 | ||
Justin Peeler Board Presid | OfficerTrustee | 1 | $0 |
William Prisciandaro Board Vice P | OfficerTrustee | 1 | $0 |
Deborah Lyons Board Sec/tr | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Oceanside Excavation Construction | 6/29/22 | $111,975 |
Bl Terry Llc Towing/freight | 6/29/22 | $151,623 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $944,756 |
| 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 | $944,756 |
| Total Program Service Revenue | $1,312,203 |
| Investment income | $87,934 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $7,682,903 |
| Net Rental Income | $34,946 |
| Net Gain/Loss on Asset Sales | $159,884 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,229,590 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $226,425 |
| Grants and other assistance to domestic individuals. | $5,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $264,989 |
| Compensation of current officers, directors, key employees. | $264,989 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,258,857 |
| Pension plan accruals and contributions | $81,139 |
| Other employee benefits | $410,465 |
| Payroll taxes | $191,933 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $701 |
| Fees for services: Accounting | $28,164 |
| Fees for services: Lobbying | $15,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,905 |
| Fees for services: Other | $242,723 |
| Advertising and promotion | $15,034 |
| Office expenses | $146,881 |
| Information technology | $18,172 |
| Royalties | $0 |
| Occupancy | $258,189 |
| Travel | $227,847 |
| 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 | $1,298,330 |
| Insurance | $188,289 |
| All other expenses | $54,837 |
| Total functional expenses | $9,448,042 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $282,276 |
| Savings and temporary cash investments | $27,846 |
| Pledges and grants receivable | $598,846 |
| Accounts receivable, net | $80,251 |
| 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 | $557,078 |
| Net Land, buildings, and equipment | $11,824,543 |
| Investments—publicly traded securities | $17,071,716 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $30,442,556 |
| Accounts payable and accrued expenses | $919,053 |
| Grants payable | $0 |
| Deferred revenue | $55,380 |
| 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 | $2,300,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,274,433 |
| Net assets without donor restrictions | $27,168,123 |
| 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 | $30,442,556 |
Grants Awarded
Over the last fiscal year, Northern Southeast Regional Aquaculture Association Inc has awarded $225,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SITKA SOUND SCIENCE CENTER PURPOSE: SALMON PRODUCTION | $140,000 |
STATE OF ALASKA - DEPARTMENT OFFISH AND GAME PURPOSE: HATCHERY WILD RESEAR | $50,000 |
ALASKA TROLLERS ASSOCIATION PURPOSE: WILD FISH CONSERVANC | $25,000 |
ALASKA MARINE SAFETY EDUCATION ASSO PURPOSE: MARINE SAFETY PROG | $10,000 |