Massachusetts Lobstermens Association Inc
- Assets
- $633.7k
- Revenue
- $667.4k
- Investments
- $250.0k
- Employees
- 2
- Location
- Scituate, MA
- Founding
- 02/1977
- Data as of
- 06/2021
- EIN
- 04-2587614
Organization Overview
Massachusetts Lobstermens Association Inc is located in Scituate, MA. The organization was established in 1977. According to its NTEE Classification (S46) the organization is classified as: Boards of Trade, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2021, Massachusetts Lobstermens Association Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Massachusetts Lobstermens Association Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2021, Massachusetts Lobstermens Association Inc generated $667.4k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $633.8k during the year ending 06/2021. While expenses have increased by 10.3% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PROMOTION OF CONSERVATION IN LOBSTER FISHERIES, THE ENCOURAGEMENT OF ENFORCEMENT OF MARINE FISHERIES LAWS, THE ENCOURAGEMENT OF SOUND ECONOMICAL PRACTICES, THE PROMOTION OF COOPERATION AND AN EXCHANGE OF IDEAS AMONG LOBSTERMEN, AND THE SPONSORSHIP AND ADMINISTRATION OF EDUCATIONAL AND OTHER PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM SERVICES CONTRIBUTE TO THE PROMOTION OF CONSERVATION IN LOBSTER FISHERIES, THE ENCOURAGEMENT OF ENFORCEMENT OF MARINE FISHERIES LAWS, THE ENCOURAGEMENT OF SOUND ECONOMICAL PRACTICES, THE PROMOTION OF COOPERATION AND AN EXCHANGE OF IDEAS AMONG LOBSTERMEN, AND THE SPONSORSHIP AND ADMINISTRATION OF EDUCATIONAL AND OTHER PROGRAMS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jarrett Drake Vice President | OfficerTrustee | 3 | $147,650 |
Elizabeth Casoni Executive Director | OfficerTrustee | 40 | $110,558 |
Arthur Sawyer Jr President | OfficerTrustee | 3 | $6,950 |
David Casoni Secretary/treasurer | OfficerTrustee | 3 | $650 |
William Lister Vice President | OfficerTrustee | 3 | $650 |
Mark Ring Director | Trustee | 3 | $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 | $66,079 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $66,079 |
| Total Program Service Revenue | $597,381 |
| Investment income | $2 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $3,506 |
| 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 | $417 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $667,385 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $116,235 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $59,165 |
| Pension plan accruals and contributions | $3,424 |
| Other employee benefits | $0 |
| Payroll taxes | $13,636 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,771 |
| Fees for services: Accounting | $15,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,168 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,101 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,195 |
| Interest | $16 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,220 |
| Insurance | $5,417 |
| All other expenses | $44,069 |
| Total functional expenses | $633,824 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $92,922 |
| Savings and temporary cash investments | $3,232 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $72,805 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20,576 |
| Prepaid expenses and deferred charges | $3,270 |
| Net Land, buildings, and equipment | $187,416 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $250,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,495 |
| Total assets | $633,716 |
| Accounts payable and accrued expenses | $51,340 |
| Grants payable | $0 |
| Deferred revenue | $20,375 |
| 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 | $28,750 |
| Total liabilities | $100,465 |
| Net assets without donor restrictions | $497,355 |
| Net assets with donor restrictions | $35,896 |
| 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 | $633,716 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Massachusetts Lobstermens Association Inc has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
International Fund For Animal Welfare Inc Washington, DC PURPOSE: In support of removal of lobster gear | $15,000 |
Endowment Analysis
| Beg. Balance | $27,804 |
| Grants | $2,000 |
| Ending Balance | $25,804 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sound Recording Special Payments Fund New York, NY | $20,084,543 | $13,023,174 |
Southern Tier Rural Integrated Performing Provider System Inc Binghamton, NY | $93,646,541 | $188,761 |
Hong Kong Trade Development Council Inc New York, NY | $1,322,669 | $4,447,221 |
International Association Of Credit Portfolio Managers Inc New York, NY | $3,469,133 | $2,422,450 |
Call Before You Dig Inc Hamden, CT | $1,482,458 | $2,467,576 |
New England Trade Adjustment Assistance Center Inc North Billerica, MA | $129,956 | $1,964,794 |
Ascend Inc New York, NY | $5,589,868 | $3,173,147 |
Rhode Island Lumber & Building Material Dealers Association Rensselaer, NY | $6,807,037 | $1,588,921 |
Propane Gas Association Of Ne Inc Epsom, NH | $1,093,269 | $1,787,343 |
London & Partners Us Limited Hauppauge, NY | $221,311 | $1,550,604 |
National Oranization Of Social Nanuet, NY | $3,379,517 | $1,694,709 |
Association Of Marina Industries Warren, RI | $1,836,285 | $1,381,193 |