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Chebeague Transportation Co FY2023 filing

Tax-deductible

Chebeague Is, ME501(c)(3)Since 2014Public & Societal BenefitEIN 01-0318796Revenue $1.8M in FY2023

On file with the IRSctcferry.org16 North Rd, 04017-3118 · Chebeague Is, METax-exempt since Jun 2014Publicly supported — 509(a)(2)

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To provide reliable and safe Transportation to Chebeague island, me.

501(c)(3) charity; gifts are tax-deductible.
78¢ of each $1 spent went to programs.
$97K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $29K a year · 2% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
78%
of spending
Looks good: 78% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$97K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 8.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
49% of total assets
Looks good: liabilities are 49% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.8M
+38% vs prior year
Spent
$1.5M
To programs
78%
Net assets
$1.3M
By yearFY2020–FY2025
Revenue
$1.8M
FY2023▲ +38%
Tap a bar for its year
Revenue by fiscal year
FY2020$860K
FY2021$1.6M
FY2022$1.3M
FY2023$1.8M
FY2024$1.7M
FY2025$1.9M
Expenses
$1.5M
FY2023▲ +0.8%
Tap a bar for its year
Expenses by fiscal year
FY2020$1.2M
FY2021$1.3M
FY2022$1.5M
FY2023$1.5M
FY2024$1.7M
FY2025$1.8M
Net assets
$1.3M
FY2023▲ +31%
Tap a bar for its year
Net assets by fiscal year
FY2020$879K
FY2021$1.2M
FY2022$1.0M
FY2023$1.3M
FY2024$1.3M
FY2025$1.4M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2014.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

78 cents of each dollar spent went to programs.

Program services 78% · $1.2M Management & general 22% · $335K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990; $97K paid to officers and key staff.

Part VII, Section A · reportable compensation
Matthew Ridgway
Executive Director/Gm
$97,046Pt VII · Sec A
John Birkett
Treasurer
$0Pt VII · Sec A
Susan Stranahan
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Matthew Ridgway’s $108K as Executive Director is at the 26th percentile of top reported officer pay among 731 $1–10M public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Matthew Ridgway$107,628$104,042$97,046$98,890$92,183$99,307

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects Chebeague Island with safe and dependable ferry service.

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Provided by the organization

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3 programs · $1.2M · in their own filed words · FY2023
01

To provide ferry services to residents and school children from chebeague island.

$662Kprogram expense
02

To provide parking facilities on the mainland for the citizens of chebeague island.

$363Kprogram expense
03

To provide barging services for vehicles between chebeague island and yarmouth (cousins island).

$149Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
The Greater Cincinnati FoundationFY2020$10K
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.8M
Ln 12
Fees for servicesLn 2g$1.6M
Other incomeLn 4–11$176K
Investment incomeLn 3$39K
Money outPt IX
$1.5M
Ln 25
Programscol B$1.2M
Managementcol C$335K
Owns and owesPt X
$1.3M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$2.6M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$5K
Fees for servicesLn 2g$1.6M
Investment incomeLn 3$39K
Other incomeLn 4–11$176K
Gains on assetsLn 7$6K
Total revenueLn 12$1.8M
Assets in detailPt X, end of year
CashLn 1$799K
SavingsLn 2$321K
Cash and savings togetherLn 1–2$1.1M
Land, buildings, equipmentLn 10c$1.4M
Total assetsLn 16$2.6M
LiabilitiesLn 26$1.3M
Net assetsLn 32$1.3M
OperationsPt I, VI
EmployeesI 535
VolunteersI 69
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$766K$1.1M
Land, buildings, equipmentLn 10c$1.5M$1.4M
Total assetsLn 16$2.3M$2.6M
LiabilitiesLn 26$1.3M$1.3M
Net assetsLn 32$1.0M$1.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$224$224
Pay of current officers, directors and key staffLn 5$102K$79K$22K
Other salaries and wagesLn 7$623K$495K$129K
Other employee benefitsLn 9$28K$13K$15K
Payroll taxesLn 10$61K$48K$14K
Accounting feesLn 11c$30K$30K
Investment management feesLn 11f$502$502
Other fees for servicesLn 11g$3K$2K$1K
Advertising and promotionLn 12$5K$5K
Office expensesLn 13$43K$18K$25K
OccupancyLn 16$39K$34K$4K
TravelLn 17$1K$1K$42
InterestLn 20$42K$34K$8K
Depreciation, depletion and amortizationLn 22$142K$130K$12K
InsuranceLn 23$83K$68K$15K
Other expenses (24a–d)Ln 24$295K$246K$49K
All other expensesLn 24e$13K$7K$5K
Total functional expensesLn 25$1.5M$1.2M$335K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.9M$1.8M$96K$1.4M 990 PDF
FY2024 $1.7M$1.7M$16K$1.3M 990 PDF
FY2023 Viewing $1.8M$1.5M$303K$1.3M 990 PDF
FY2022 $1.3M$1.5M−$184K$1.0M 990 PDF
FY2021 $1.6M$1.3M$319K$1.2M 990 PDF
FY2020 $860K$1.2M−$374K$879K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (6 parts)
Part I · Summary $1,812,838 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,200$5,000
I-9 Program service revenuePrior year $1,303,407$1,592,079
I-10 Investment incomePrior year $1,414$39,348
I-11 Other revenuePrior year $805$176,411
I-12 Total revenuePrior year $1,313,826$1,812,838
I-13 Grants and similar amounts paidPrior year $0$224
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $852,851$814,309
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $645,388$695,648
I-18 Total expensesPrior year $1,498,239$1,510,181
I-19 Revenue less expensesPrior year −$184,413$302,657
Part VI · Governance 9 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $1,812,838 across 7 lines filed
VIII-1f All other contributions, gifts and grants$5,000
VIII-1h Total contributions, gifts and grants$5,000
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,592,079$1,592,079
VIII-3 Investment incomeExcluded from tax $33,848$33,848
VIII-7 Net gain or loss on sales of assetsExcluded from tax $5,500$5,500
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $237 · Excluded from tax $176,174$176,411
VIII-12 Total revenueRelated to mission $1,592,316 · Unrelated business $0 · Excluded from tax $215,522$1,812,838
Part IX · Statement of functional expenses $1,510,181 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $224$224
IX-5 Pay of current officers, directors and key staffPrograms $79,086 · Management $22,460$101,546
IX-7 Other salaries and wagesPrograms $494,595 · Management $128,704$623,299
IX-9 Other employee benefitsPrograms $13,068 · Management $15,219$28,287
IX-10 Payroll taxesPrograms $47,583 · Management $13,594$61,177
IX-11c Accounting feesManagement $30,462$30,462
IX-11f Investment management feesManagement $502$502
IX-11g Other fees for servicesPrograms $1,575 · Management $1,253$2,828
IX-12 Advertising and promotionManagement $4,700$4,700
IX-13 Office expensesPrograms $17,784 · Management $24,866$42,650
IX-16 OccupancyPrograms $34,465 · Management $4,263$38,728
IX-17 TravelPrograms $1,151 · Management $42$1,193
IX-20 InterestPrograms $34,067 · Management $7,760$41,827
IX-22 Depreciation, depletion and amortizationPrograms $130,230 · Management $11,886$142,116
IX-23 InsurancePrograms $67,766 · Management $15,265$83,031
IX-24 Other expenses (24a–d)Programs $245,769 · Management $49,179$294,948
IX-24e All other expensesPrograms $7,412 · Management $5,251$12,663
IX-25 Total functional expensesPrograms $1,174,775 · Management $335,406 · Fundraising $0$1,510,181
Part X · Balance sheet $2,608,167 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $565,146$799,259
X-2 Savings and temporary cash investmentsStart of year $200,837$320,551
X-4 Accounts receivableStart of year $64,615$24,363
X-8 Inventories for sale or useStart of year $7,214$8,941
X-9 Prepaid expenses and deferred chargesStart of year $32,115$5,945
X-10c Land, buildings and equipment, netStart of year $1,451,961$1,442,575
X-14 Intangible assetsStart of year $6,971$6,533
X-16 Total assetsStart of year $2,328,859$2,608,167
X-17 Accounts payable and accrued expensesStart of year $66,708$72,556
X-19 Deferred revenueStart of year $227,529$240,062
X-26 Total liabilitiesStart of year $1,315,277$1,284,727
X-27 Net assets without donor restrictionsStart of year $1,013,582$1,323,440
X-32 Total net assets or fund balancesStart of year $1,013,582$1,323,440
X-33 Total liabilities and net assetsStart of year $2,328,859$2,608,167
Part XI · Reconciliation of net assets $1,323,440 net assets at year end
XI-1 Total revenue$1,812,838
XI-2 Total expenses$1,510,181
XI-3 Revenue less expenses$302,657
XI-4 Net assets at start of year$1,013,582
XI-5 Net unrealized gains (losses) on investments$7,201
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,323,440

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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