Gulf Shellfish Institute INC

Tax-deductible

Palmetto, FL501(c)(3)Food & AgricultureEIN 81-0747697Revenue $505K in FY2024

On file with the IRSgulfshellfish.org13230 Eastern Ave, 34221-6607 · Palmetto, FLTax-exempt since Nov 2016Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of gsi is to facilitate, support and encourage increased production of Shellfish in florida and the Gulf region for economic and environmental benefit through cooperative, industry-driven research and outreach.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$85K 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

FY2024 · 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
1 of 2
filings with a surplus
Average deficit $19K a year · 5% of revenue · last 2 filings
Worth a look: a surplus in 1 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$85K
to officers and key staff · 15% of spending
Top officer’s pay higher than 84% of similar orgs
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$100K
144% of total assets
Concern: liabilities are 144% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$505K
+116% vs prior year
Spent
$550K
To programs
92%
Net assets
−$31K
By yearFY2020–FY2024
Revenue
$505K
FY2024▲ +116%
Tap a bar for its year
Revenue by fiscal year
FY2020$172K
FY2021$63K
FY2022$83K
FY2023$234K
FY2024$505K
Expenses
$550K
FY2024▲ +142%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021Not on file
FY2022Not on file
FY2023$227K
FY2024$550K
Net assets
−$31K
FY2024▼ -307%
Tap a bar for its year
Net assets by fiscal year
FY2020$16K
FY2021$28K
FY2022$8K
FY2023$15K
FY2024−$31K

From the FY2024 Form 990 · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 2016.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $505K Management & general 8% · $45K

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

12 people listed on the 990; $85K paid to officers and key staff.

Part VII, Section A · reportable compensation
Executive Director
$85,000Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
$0Pt VII · Sec A

Stephen Hesterberg PHD’s $85K as Executive Director is at the 84th percentile of top reported officer pay among 1171 $100K–1M food & agriculture 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 · 3 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Stephen Hesterberg PHD$85,000$28,333$56,000$5,000—
Bruce Barber————$78,417
Dinorah Chacin PHD———$33,333$50,000

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

Boosts shellfish farming in Florida and the Gulf for economic and environmental gain.

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Provided by the organization

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1 program · $505K · in their own filed words · FY2024
01

Applied Shellfish Research Program

Scientific research involving questions related to the improved shellfish production using aquaculture and restoration in southwest, florida. Applied research topics include shellfish genetics, physiology, biology, ecology, and restoration.

$505Kprogram 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 · FY2024
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$505K
Ln 12
Gifts and grantsLn 1h$503K
Investment incomeLn 3$2K
Money outPt IX
$550K
Ln 25
Programscol B$505K
Managementcol C$45K
Owns and owesPt X
−$31K
net assets · Ln 32
Cash and savingsLn 1–2$69K
Total assetsLn 16$69K
LiabilitiesLn 26$100K
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$503K
Government grantsLn 1e$475K
Investment incomeLn 3$2K
Total revenueLn 12$505K
Assets in detailPt X, end of year
CashLn 1$69K
Cash and savings togetherLn 1–2$69K
Total assetsLn 16$69K
LiabilitiesLn 26$100K
Net assetsLn 32−$31K
OperationsPt I, VI
EmployeesI 53
VolunteersI 60
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 FY24End FY24
Cash and savingsLn 1–2$30K$69K
Total assetsLn 16$30K$69K
LiabilitiesLn 26$15K$100K
Net assetsLn 32$15K−$31K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$85K$85K
Other salaries and wagesLn 7$300K$300K
Legal feesLn 11b$30K$30K
Other fees for servicesLn 11g$14K$13K$2K
Office expensesLn 13$3K$3K
InterestLn 20$2K$2K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$112K$108K$5K
All other expensesLn 24e$3K$3K
Total functional expensesLn 25$550K$505K$45K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $505K$550K−$45K−$31K 990 PDF
FY2023 $234K$227K$7K$15K 990 PDF
FY2022 $83K$8K 990 PDF
FY2021 $63K$28K 990 PDF
FY2020 $172K$16K 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 FY2024 990 (6 parts)
Part I · Summary $504,950 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $233,320$503,121
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $704$1,829
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $234,024$504,950
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $171,964$384,689
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $55,079$165,579
I-18 Total expensesPrior year $227,043$550,268
I-19 Revenue less expensesPrior year $6,981−$45,318
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $504,950 across 5 lines filed
VIII-1e Government grants$474,871
VIII-1f All other contributions, gifts and grants$28,250
VIII-1h Total contributions, gifts and grants$503,121
VIII-3 Investment incomeExcluded from tax $1,829$1,829
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $1,829$504,950
Part IX · Statement of functional expenses $550,268 across 9 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $85,000$85,000
IX-7 Other salaries and wagesPrograms $299,689$299,689
IX-11b Legal feesManagement $30,000$30,000
IX-11g Other fees for servicesPrograms $12,700 · Management $1,531$14,231
IX-13 Office expensesManagement $2,734$2,734
IX-20 InterestManagement $2,173$2,173
IX-23 InsuranceManagement $1,171$1,171
IX-24 Other expenses (24a–d)Programs $107,878 · Management $4,568$112,446
IX-24e All other expensesManagement $2,824$2,824
IX-25 Total functional expensesPrograms $505,267 · Management $45,001 · Fundraising $0$550,268
Part X · Balance sheet $69,446 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $29,764$69,446
X-16 Total assetsStart of year $29,764$69,446
X-25 Other liabilitiesStart of year $15,000$100,000
X-26 Total liabilitiesStart of year $15,000$100,000
X-27 Net assets without donor restrictionsStart of year $14,764−$30,554
X-32 Total net assets or fund balancesStart of year $14,764−$30,554
X-33 Total liabilities and net assetsStart of year $29,764$69,446
Part XI · Reconciliation of net assets −$30,554 net assets at year end
XI-1 Total revenue$504,950
XI-2 Total expenses$550,268
XI-3 Revenue less expenses−$45,318
XI-4 Net assets at start of year$14,764
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$30,554

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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