Fishermen In Newport
- Assets
- $216.3k
- Revenue
- $342.5k
- Investments
- $0.0
- Employees
- 24
- Location
- Newport, RI
- Founding
- Data as of
- 12/2016
- EIN
- 06-1819678
Organization Overview
Fishermen In Newport is located in Newport, RI. As of 12/2016, Fishermen In Newport employed 24 individuals. Fishermen In Newport is a 501(c)(5) and as such, is described as a "Labor, Agricultural, and Horticultural Organization" by the IRS.
For the year ending 12/2016, Fishermen In Newport generated $342.5k in total revenue. This organization has experienced exceptional growth, as over the past 2 years, it has increased revenue by an average of 15.4% each year . All expenses for the organization totaled $284.7k during the year ending 12/2016. 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
2016
Describe the Organization's Mission:
Part 3 - Line 1
TO PURCHASE FISH PRODUCTS FROM LOCAL FISHERMEN AT A PRICE HIGHER THAN THEY WOULD RECEIVE ON THE OPEN MARKET, IN ORDER TO INSURE A PERMANENT RESIDENCE OF THE COMMERCIAL FISHING FLEET IN NEWPORT HARBOR, RI.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WAS ABLE TO PURCHASE FROM NEWPORT FISHERMEN $445231 IN FRESH FISH PRODUCTS WHICH WAS WELL ABOVE WHAT THE MARKET WAS PAYING FOR THE SAME PRODUCT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Spencer President | OfficerTrustee | 10 | $0 |
Dennis Ingram Director | Trustee | 10 | $0 |
Peter Wakeman Director | Trustee | 10 | $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 | $0 |
| 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 | $342,519 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $342,519 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $114,796 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,781 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,609 |
| Fees for services: Accounting | $2,050 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,281 |
| Office expenses | $2,419 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $55,911 |
| Insurance | $3,664 |
| All other expenses | $63,135 |
| Total functional expenses | $284,692 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $136,935 |
| 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 | $79,315 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $216,250 |
| Accounts payable and accrued expenses | $4,693 |
| 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 | $4,693 |
| Unrestricted restricted net Assets | $211,557 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $211,557 |