Nantucket Shellfish Association INC FY2023 filing

Tax-deductible

Nantucket, MA501(c)(3)Science & TechnologyEIN 06-1684351Revenue $373K in FY2023

On file with the IRS45 Sparks Ave 2nd Floor, 02554-3951 · Nantucket, MATax-exempt since Dec 2003Publicly supported charity — 170(b)(1)(A)(vi)

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Research amd education for the conservation and enhancement of Shellfish populations in the waters off Nantucket island.

501(c)(3) charity; gifts are tax-deductible.
44¢ of each $1 spent went to programs.
$110K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 4
filings with a surplus
Average surplus $97K a year · 30% of revenue · last 4 filings
Looks good: a surplus in 4 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
44%
of spending
Concern: 44% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$110K
to officers and key staff · 47% of spending
Concern: pay to officers and key staff is 47% of spending; over 30%.
Pt VII · Sec A
Cash reserves
34 mo
of spending, in cash
Looks good: 33.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $31K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$373K
+41% vs prior year
Spent
$236K
To programs
44%
Net assets
$662K
By yearFY2020–FY2024
Revenue
$373K
FY2023▲ +41%
Tap a bar for its year
Revenue by fiscal year
FY2020$124K
FY2021$211K
FY2022$265K
FY2023$373K
FY2024$419K
Expenses
$236K
FY2023▲ +54%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$102K
FY2022$154K
FY2023$236K
FY2024$391K
Net assets
$662K
FY2023▲ +26%
Tap a bar for its year
Net assets by fiscal year
FY2020$303K
FY2021$414K
FY2022$526K
FY2023$662K
FY2024$691K

From the FY2023 Form 990 · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2003.

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

Where the money goes

44 cents of each dollar spent went to programs.

Program services 44% · $103K Management & general 31% · $74K Fundraising 25% · $59K

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

21 people listed on the 990; $110K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$110,000Pt VII · Sec A
Co-President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A

Samantha Denette’s $60K as Executive Di is at the 43rd percentile of top reported officer pay among 312 $100K–1M science & technology 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

NameFY2024FY2023FY2022
Samantha Denette$60,000$110,000$79,800

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.

See Nantucket Shellfish Association INC executive salaries →

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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

Studies and teaches how to conserve and improve shellfish in Nantucket's waters.

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Provided by the organization

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1 program · $103K · in their own filed words · FY2023
01

Shellfish propagation and management research.

$103Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$31K
Grants paid · 5 grants · $110K · 2021–2024
Unitemized GrantFY2024$61,992
Unitemized GrantFY2023$22,032
Unitemized GrantFY2023$7,500
Unitemized GrantFY2022$8,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$373K
Ln 12
Gifts and grantsLn 1h$303K
Other incomeLn 4–11$58K
Investment incomeLn 3$11K
Money outPt IX
$236K
Ln 25
Programscol B$103K
Managementcol C$74K
Fundraisingcol D$59K
Owns and owesPt X
$662K
net assets · Ln 32
Cash and savingsLn 1–2$667K
Total assetsLn 16$667K
LiabilitiesLn 26$4K
PeoplePt VI, VII
21
listed · VII A
PaidVII A1
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$303K
Fundraising eventsLn 1c$18K
Investment incomeLn 3$11K
Other incomeLn 4–11$58K
Total revenueLn 12$373K
Assets in detailPt X, end of year
CashLn 1$71K
SavingsLn 2$596K
Cash and savings togetherLn 1–2$667K
Total assetsLn 16$667K
LiabilitiesLn 26$4K
Net assetsLn 32$662K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
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$525K$667K
Total assetsLn 16$526K$667K
LiabilitiesLn 26$0$4K
Net assetsLn 32$526K$662K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$30K$30K
Pay of current officers, directors and key staffLn 5$110K$55K$28K$28K
Payroll taxesLn 10$9K$4K$2K$2K
Accounting feesLn 11c$13K$13K
Other fees for servicesLn 11g$10K$10K
Advertising and promotionLn 12$3K$3K
Office expensesLn 13$31K$12K$19K
Information technologyLn 14$2K$2K
TravelLn 17$1K$1K
Conferences, conventions and meetingsLn 19$20K$10K$10K
Other expenses (24a–d)Ln 24$7K$7K
Total functional expensesLn 25$236K$103K$74K$59K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $419K$391K$28K$691K 990 PDF
FY2023 Viewing $373K$236K$137K$662K 990 PDF
FY2022 $265K$154K$112K$526K 990 PDF
FY2021 $211K$102K$110K$414K 990 PDF
FY2020 $124K$303K 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 $372,864 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $215,551$303,325
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $554$11,338
I-11 Other revenuePrior year $49,103$58,201
I-12 Total revenuePrior year $265,208$372,864
I-13 Grants and similar amounts paidPrior year $27,438$29,532
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$118,730
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $126,086$87,828
I-18 Total expensesPrior year $153,524$236,090
I-19 Revenue less expensesPrior year $111,684$136,774
Part VI · Governance 19 of 19 board members independent, 1 to look at
VI-1a Voting members of the governing body19
VI-1b Independent voting members19
VI-13 Written whistleblower policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $372,864 across 7 lines filed
Lines not itemized here account for $15,563 of total revenue; see the IRS return.
VIII-1b Membership dues$90,930
VIII-1c Fundraising events$17,880
VIII-1f All other contributions, gifts and grants$194,515
VIII-1h Total contributions, gifts and grants$303,325
VIII-3 Investment incomeExcluded from tax $11,338$11,338
VIII-8 Net income from fundraising eventsExcluded from tax $42,638$42,638
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $69,539$372,864
Part IX · Statement of functional expenses $236,090 across 11 lines filed
IX-2 Grants to domestic individualsPrograms $29,532$29,532
IX-5 Pay of current officers, directors and key staffPrograms $55,000 · Management $27,500 · Fundraising $27,500$110,000
IX-10 Payroll taxesPrograms $4,365 · Management $2,183 · Fundraising $2,182$8,730
IX-11c Accounting feesManagement $12,880$12,880
IX-11g Other fees for servicesManagement $10,300$10,300
IX-12 Advertising and promotionPrograms $2,885$2,885
IX-13 Office expensesManagement $12,027 · Fundraising $19,240$31,267
IX-14 Information technologyManagement $1,798$1,798
IX-17 TravelPrograms $1,416$1,416
IX-19 Conferences, conventions and meetingsPrograms $9,636 · Fundraising $10,213$19,849
IX-24 Other expenses (24a–d)Management $7,433$7,433
IX-25 Total functional expensesPrograms $102,834 · Management $74,121 · Fundraising $59,135$236,090
Part X · Balance sheet $666,835 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $40,705$71,277
X-2 Savings and temporary cash investmentsStart of year $484,721$595,558
X-16 Total assetsStart of year $525,651$666,835
X-17 Accounts payable and accrued expenses$4,410
X-26 Total liabilitiesStart of year $0$4,410
X-27 Net assets without donor restrictionsStart of year $525,651$662,425
X-32 Total net assets or fund balancesStart of year $525,651$662,425
X-33 Total liabilities and net assetsStart of year $525,651$666,835
Part XI · Reconciliation of net assets $662,425 net assets at year end
XI-1 Total revenue$372,864
XI-2 Total expenses$236,090
XI-3 Revenue less expenses$136,774
XI-4 Net assets at start of year$525,651
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$662,425

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

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