Gloucester Marine Genomics Institute Incorporated
- Assets
- $6.4m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 27
- Location
- Gloucester, MA
- Founding
- 10/2014
- Data as of
- 12/2021
- EIN
- 46-3020006
Organization Overview
Gloucester Marine Genomics Institute Incorporated is located in Gloucester, MA. The organization was established in 2014. According to its NTEE Classification (B30) the organization is classified as: Vocational & Technical Schools, under the broad grouping of Education and related organizations. As of 12/2021, Gloucester Marine Genomics Institute Incorporated employed 27 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gloucester Marine Genomics Institute Incorporated 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 12/2021, Gloucester Marine Genomics Institute Incorporated generated $3.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.9% each year . All expenses for the organization totaled $3.3m during the year ending 12/2021. 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
GLOUCESTER MARINE GENOMICS INSTITUTE (GMGI) WAS ESTABLISHED IN 2013. GMGI'S MISSION IS TO ADDRESS CRITICAL CHALLENGES FACING OUR OCEANS, HUMAN HEALTH AND THE ENVIRONMENT THROUGH INNOVATIVE SCIENTIFIC RESEARCH AND EDUCATION. BY BRINGING WORLD-CLASS SCIENCE AND TRANSFORMATIVE WORKFORCE DEVELOPMENT TO GLOUCESTER'S HISTORIC WATERFRONT, GMGI IS CATALYZING THE REGIONAL ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH- GMGI HAS ESTABLISHED A WORLD-CLASS MARINE BIOTECHNOLOGY RESEARCH INSTITUTE ON THE GLOUCESTER HARBOR WHOSE WORK IS POWERED BY THE SCIENTIFIC FIELD OF GENOMICS. MARINE GENOMICS REPRESENTS A NEW EPOCH IN BOTH MARINE SCIENCE AND BIOTECHNOLOGY AND GMGI IS LEADING THE WAY. THE PRIMARY FOCUS IS ON TRANSLATIONAL RESEARCH THAT CONNECTS DIRECTLY WITH HUMAN HEALTH. GMGI IS ALSO BRINGING THE BEST SCIENCE TO FISHERY RESEARCH.
BIOTECHNOLOGY ACADEMY- GMGI HAS CREATED A VIBRANT SCIENCE LEARNING ENVIRONMENT, WITH GLOUCESTER BIOTECHNOLOGY ACADEMY AS THE FLAGSHIP PROGRAM. THE ACADEMY TRAINS LOCAL HIGH SCHOOL GRADUATES FOR JOBS AS BIOTECH LAB TECHNICIANS THROUGH A LAB-IMMERSION CURRICULUM AT OUR STATE-OF-THE-ART TRAINING FACILITY AND PAID INTERNSHIPS AT LOCAL BIOTECH FIRMS. THE ACADEMY ALSO OFFERS EDUCATIONAL SCIENCE PROGRAMS FOR MIDDLE AND HIGH SCHOOL STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andrea Bodnar Science Director | Officer | 40 | $232,306 |
Christine Bolzan Executive Director/clerk | Officer | 40 | $204,375 |
Logan Walsh Development Director | 40 | $148,462 | |
John Doyle Education Director | 40 | $110,000 | |
Jillian Cluett Director Of Finance & Administrative | 40 | $105,055 | |
Marc Vidal Board Member/president | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,288,284 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,901,949 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,190,233 |
| Total Program Service Revenue | $487,644 |
| Investment income | $2,405 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,696,624 |
| 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. | $436,681 |
| Compensation of current officers, directors, key employees. | $171,880 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,148,562 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $150,455 |
| Payroll taxes | $125,520 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,076 |
| Advertising and promotion | $0 |
| Office expenses | $8,260 |
| Information technology | $41,253 |
| Royalties | $0 |
| Occupancy | $209,996 |
| Travel | $17,516 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,146 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $471,200 |
| Insurance | $15,690 |
| All other expenses | $154,569 |
| Total functional expenses | $3,299,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $361,688 |
| Savings and temporary cash investments | $887,027 |
| Pledges and grants receivable | $1,169,736 |
| Accounts receivable, net | $12,633 |
| 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 | $76,252 |
| Net Land, buildings, and equipment | $3,662,303 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $221,609 |
| Total assets | $6,391,248 |
| Accounts payable and accrued expenses | $118,052 |
| 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 | $145,567 |
| Other liabilities | $0 |
| Total liabilities | $263,619 |
| Net assets without donor restrictions | $4,944,725 |
| Net assets with donor restrictions | $1,182,904 |
| 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 | $6,391,248 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Gloucester Marine Genomics Institute Incorporated has recieved totaling $4,000.
| Awarding Organization | Amount |
|---|---|
Institution For Savings In Newbrypt & Its Vcnty Chrtble Foundation Inc Newburyport, MA PURPOSE: EXEMPT PURPOSE | $4,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Ort America Inc New York, NY | $29,293,739 | $16,000,497 |
Brooklyn Excelsior Charter School Brooklyn, NY | $823,096 | $13,395,974 |
All Our Kin Inc New Haven, CT | $6,225,964 | $7,705,066 |
Mason Tenders Training Fund Long Island City, NY | $44,024,998 | $3,801,436 |
North Bennet Street School Boston, MA | $57,772,831 | $8,454,312 |
Coop Careers Inc New York, NY | $4,159,202 | $8,380,118 |
American Academy Mcallister Institute Of Funeral Service Inc New York, NY | $4,267,692 | $5,884,780 |
Pipefitters Local Union No 537 Education Trust Dorchester, MA | $52,682,067 | $10,001,027 |
Propel America Boston, MA | $3,917,614 | $6,072,902 |
Finishing Trades Institute Of New York New York, NY | $16,930,233 | $2,729,484 |
Sheet Metal Workers Local Union No 28 Education Fund Jamaica, NY | $12,641,253 | $5,378,417 |
Side By Side Charter School Inc Norwalk, CT | $5,501,040 | $3,036,601 |