Gulf Of Maine Properties Inc
- Assets
- $10.7m
- Revenue
- $915.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, ME
- Founding
- 07/2007
- Data as of
- 06/2021
- EIN
- 20-1480528
Organization Overview
Gulf Of Maine Properties Inc is located in Portland, ME. The organization was established in 2007. According to its NTEE Classification (U11) the organization is classified as: Single Organization Support, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gulf Of Maine Properties 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 06/2021, Gulf Of Maine Properties Inc generated $915.9k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $1.0m during the year ending 06/2021. While expenses have increased by 0.3% 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 PURPOSE OF THE CORPORATION IS TO PROMOTE THE LAWFUL INTEREST OF THE GULF OF MAINE RESEARCH INSTITUTE, A NONPROFIT, CHARITABLE INSTITUTION DULY ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF MAINE BY ACQUIRING, HOLDING, MANAGING, MAINTAINING, DEVELOPING, OR DISPOSING OF REAL PROPERTY FOR THE BENEFIT OF AND IN CONNECTION WITH THE GULF OF MAINE RESEARCH INSTITUTE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GULF OF MAINE PROPERTIES OWNS, MANAGES, MAINTAINS AND DEVELOPS REAL PROPERTY FOR THE BENEFIT OF GULF OF MAINE RESEARCH INSTITUTE (GMRI). GMRI OCCUPIED 82.35% OF THE FACILITIES AND THE REMAINING SPACE WAS RENTED TO OTHER TENANTS IN ORDER TO SUBSIDIZE THE COST OF THE FACILITIES AND THEREBY SUPPORT GMRI'S MISSION. TENANTS EITHER PROVIDED SERVICES CONSISTENT WITH GMRI'S MISSION OR PROVIDED SUBSTANTIAL SERVICES TO GMRI WHICH DIRECTLY SUPPORTED GMRI'S MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles E Miller ESQ Chair | OfficerTrustee | 2 | $0 |
Mike Bonney Secretary | OfficerTrustee | 2 | $0 |
Robin Sawyer Treasurer | OfficerTrustee | 2 | $0 |
Donald W Perkins Jr President | Officer | 5 | $0 |
Beth Shissler Director | Trustee | 1 | $0 |
Frank Governali Director | Trustee | 1 | $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 | $908,690 |
| Investment income | $6,769 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $477 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $915,936 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $111,837 |
| Fees for services: Legal | $11,571 |
| Fees for services: Accounting | $6,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,033 |
| Advertising and promotion | $0 |
| Office expenses | $39,521 |
| Information technology | $27,961 |
| Royalties | $0 |
| Occupancy | $295,355 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $109,939 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $351,865 |
| Insurance | $22,990 |
| All other expenses | $73 |
| Total functional expenses | $1,006,145 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $17,874 |
| Savings and temporary cash investments | $234,851 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,153 |
| 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 | $101,762 |
| Net Land, buildings, and equipment | $9,487,379 |
| Investments—publicly traded securities | $815,027 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $10,663,046 |
| Accounts payable and accrued expenses | $83,843 |
| Grants payable | $0 |
| Deferred revenue | $17,685 |
| Tax-exempt bond liabilities | $2,813,958 |
| 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 | $11,401 |
| Total liabilities | $2,926,887 |
| Net assets without donor restrictions | $7,736,159 |
| 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 | $10,663,046 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Lab Central Inc Cambridge, MA | $43,646,817 | $21,795,021 |
Bigelow Laboratory For Ocean Sciences East Boothbay, ME | $62,794,897 | $20,387,195 |
American Meteorological Society Boston, MA | $23,955,564 | $17,020,268 |
Mount Desert Island Biological Laboratory Salisbury Cove, ME | $34,360,356 | $21,825,438 |
Terc Inc Cambridge, MA | $20,874,819 | $13,653,170 |
Woodwell Climate Research Center Falmouth, MA | $35,020,483 | $19,563,281 |
Sea Education Association Inc Falmouth, MA | $20,669,049 | $7,982,566 |
Scratch Foundation Boston, MA | $12,660,412 | $10,034,461 |
Stockholm Environment Institute Usinc Somerville, MA | $5,389,275 | $5,787,254 |
Northeastern Regional Association Of Coastal Ocean Observation Syste Portsmouth, NH | $603,712 | $3,843,145 |
James M And Cathleen D Stone Family Foundation Inc Boston, MA | $262,207 | $3,735,238 |
Earthwatch Institute Inc Newton, MA | $7,504,527 | $5,695,996 |