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Gb Cod Fixed Gear Sector INC FY2023 filing

Not tax-deductible

Chatham, MA501(c)(5)AnimalsEIN 41-2237942Revenue $191K in FY2023

On file with the IRS1566 Main St, 02633-1805 · Chatham, MATax-exempt since Mar 2008

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The georges bank Cod Fixed Gear Sector represents a proactive group of small, dayboat fishermen on cape Cod that have voluntarily come together to cooperatively manage annual allocations of fish. Its members agree to fish within sustainable limits and to stop fishing once quotas have been met, thereby, protecting fish populations for future generations. The federal government (I.e. National marine fisheries service) has agreed to provide these quotas to the Sector, which includes fishermen who have developed and incorporated their organization in compliance with state and federal tax requirements.

99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(5)
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
No
Donations are not tax-deductible
Worth a look: the IRS does not list 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
1 of 5
filings with a surplus
Average deficit $5K a year · 2% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
2 mo
of spending, in cash
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$191K
-50% vs prior year
Spent
$200K
To programs
99%
Net assets
$42K
By yearFY2020–FY2024
Revenue
$191K
FY2023▼ -50%
Tap a bar for its year
Revenue by fiscal year
FY2020$114K
FY2021$164K
FY2022$384K
FY2023$191K
FY2024$382K
Expenses
$200K
FY2023▼ -53%
Tap a bar for its year
Expenses by fiscal year
FY2020$146K
FY2021$180K
FY2022$425K
FY2023$200K
FY2024$306K
Net assets
$42K
FY2023▼ -18%
Tap a bar for its year
Net assets by fiscal year
FY2020$108K
FY2021$92K
FY2022$51K
FY2023$42K
FY2024$118K

From the FY2023 Form 990 · see the original

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 Mar 2008.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $199K Management & general 1% · $1K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation
Greg Connors
President
$0Pt VII · Sec A
Jason Amaru
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Eric Hesse
Director
$0Pt VII · Sec A
Tim Linnell
Director
$0Pt VII · Sec A
Jared Bennet
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Nick O'Toole
Director
$0Pt VII · Sec A
See Gb Cod Fixed Gear Sector 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 15aNo

Programs and updates

Fishermen cooperatively manage cod quotas to protect fish populations for the future.

Questions for Gb Cod Fixed Gear Sector INC

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Provided by the organization

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1 program · $199K · in their own filed words · FY2023
01

The sector did not exceed any of its allocations. It minimized the harvest of depleted stocks and instead focused on the harvest of healthy stocks such as monkfish, skates, dogfish and pollock.

$199Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$191K
Ln 12
Fees for servicesLn 2g$190K
Other incomeLn 4–11$1K
Investment incomeLn 3$4
Money outPt IX
$200K
Ln 25
Programscol B$199K
Managementcol C$1K
Owns and owesPt X
$42K
net assets · Ln 32
Cash and savingsLn 1–2$41K
Total assetsLn 16$42K
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$190K
Investment incomeLn 3$4
Other incomeLn 4–11$1K
Total revenueLn 12$191K
Assets in detailPt X, end of year
CashLn 1$41K
Cash and savings togetherLn 1–2$41K
Total assetsLn 16$42K
LiabilitiesLn 26$0
Net assetsLn 32$42K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$52K$41K
Total assetsLn 16$52K$42K
LiabilitiesLn 26$1K$0
Net assetsLn 32$51K$42K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K$1K
Other fees for servicesLn 11g$53K$53K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$138K$138K
All other expensesLn 24e$7K$7K$19
Total functional expensesLn 25$200K$199K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $382K$306K$76K$118K 990 PDF
FY2023 Viewing $191K$200K−$9K$42K 990 PDF
FY2022 $384K$425K−$41K$51K 990 PDF
FY2021 $164K$180K−$16K$92K 990 PDF
FY2020 $114K$146K−$33K$108K 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 $191,071 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,500$0
I-9 Program service revenuePrior year $380,487$189,929
I-10 Investment incomePrior year $8$4
I-11 Other revenue$1,138
I-12 Total revenuePrior year $383,995$191,071
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $425,238$200,326
I-18 Total expensesPrior year $425,238$200,326
I-19 Revenue less expensesPrior year −$41,243−$9,255
Part VI · Governance 8 of 8 board members independent, 3 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $191,071 across 4 lines filed
Lines not itemized here account for $500 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $189,429$189,429
VIII-3 Investment incomeExcluded from tax $4$4
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,138$1,138
VIII-12 Total revenueRelated to mission $191,067 · Excluded from tax $4$191,071
Part IX · Statement of functional expenses $200,326 across 5 lines filed
IX-11c Accounting feesManagement $1,000$1,000
IX-11g Other fees for servicesPrograms $53,000$53,000
IX-23 InsurancePrograms $1,157$1,157
IX-24 Other expenses (24a–d)Programs $138,334$138,334
IX-24e All other expensesPrograms $6,816 · Management $19$6,835
IX-25 Total functional expensesPrograms $199,307 · Management $1,019 · Fundraising $0$200,326
Part X · Balance sheet $41,945 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $51,844$41,345
X-9 Prepaid expenses and deferred chargesStart of year $557$600
X-16 Total assetsStart of year $52,401$41,945
X-26 Total liabilitiesStart of year $1,201$0
X-32 Total net assets or fund balancesStart of year $51,200$41,945
X-33 Total liabilities and net assetsStart of year $52,401$41,945
Part XI · Reconciliation of net assets $41,945 net assets at year end
XI-1 Total revenue$191,071
XI-2 Total expenses$200,326
XI-3 Revenue less expenses−$9,255
XI-4 Net assets at start of year$51,200
XI-10 Net assets at end of year$41,945

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

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