Valdez Fisheries Development Assoc

Organization Overview

Valdez Fisheries Development Assoc is located in Valdez, AK. The organization was established in 1981. 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 05/2023, Valdez Fisheries Development Assoc employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Valdez Fisheries Development Assoc 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 05/2023, Valdez Fisheries Development Assoc generated $5.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $4.5m during the year ending 05/2023. While expenses have increased by 2.2% per year over the past 8 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

TO RAISE AND RELEASE SALMON FRY TO GUARANTEE THE RETURN OF SALMON TO PORT VALDEZ TO SUPPORT COMMERCIAL AND SPORT FISHING UNDER THE CONTROL OF THE ALASKA DEPARTMENT OF FISH AND GAME AND THE PWS MANAGEMENT TEAM.

Describe the Organization's Program Activity:

Part 3 - Line 4a

HATCHERY OPERATIONS - ACCOUNTS FOR ACTIVITIES ASSOCIATED WITH THE SOLOMON GULCH HATCHERY INCLUDING ACTIVITIES RELATED TO EGG TAKE AND SPAWNING FOR COHO AND PINK SALMON.


FISH PROCESSING - ACCOUNTS FOR ALL ACTIVITIES AT THE PROCESSING PLANT. THIS WAS CREATED TO ACHIEVE FULL UTILIZATION OF SURPLUS HATCHERY RESOURCES, BY PROCESSING AND MARKETING SMOKED SALMON PRODUCTS AND CAVIAR.


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Board, Officers & Key Employees

Name (title)Compensation
Mike Wells
Executive Dir.
$148,710
Rob Unger
Hatchery Manager
$111,052
Laura Therriault
Accountant
$107,591
Ed Day
Vice President
$0
George Levasseur
Director
$0
Bernie Culbertson
Past President
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
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$0
Total Program Service Revenue$5,533,483
Investment income $130,935
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $32,511
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $5,700,212

Peer Organizations

Organization NameAssets
Prince William Sound Aquaculture Corp
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$20,851,641
International Pacific Halibut Commission
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$11,001,813
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Northern Southeast Regional Aquaculture Association Inc
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$10,229,590
Douglas Island Pink And Chum Incorporated
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$7,510,752
Kodiak Regional Aquaculture
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$7,194,355
Valdez Fisheries Development Assoc
Valdez, AK
$5,700,212
Long Live The Kings
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Hood Canal Slmon Enhancement Group
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$3,655,084
Cascade Columbia Fisheries Enhancement Group
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$3,056,110
Nooksack Salmon Enhancement Association
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Lower Columbia Fish Enhancement
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$2,613,314
Armstrong-Keta Incorporated
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$1,964,956
South Puget Sound Salmon Enhancement Group
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Wild Fish Conservancy
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$1,838,039
Skagit Fisheries Enhancement Group
Mount Vernon, WA
$1,743,902
North Olympic Salmon Coalition
Port Townsend, WA
$1,718,434
Mid Puget Sound Fisheries Enhancement Group
Seattle, WA
$1,574,439
Hood Canal Coordinating Council
Poulsbo, WA
$1,233,171
Upper Columbia Salmon Recovery Board
Wenatchee, WA
$1,300,553
Chehalis Basin Fisheries Task Force
Montesano, WA
$985,777
Stilly-Snohomish Fisheries
Mukilteo, WA
$785,260
Yakima Basin Fish & Wildliferecovery Board
Yakima, WA
$466,691
Willapa Bay Fisheries Enhancement Group
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$297,006
Petersburg Vessel Owners Association
Petersburg, AK
$0

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