DOWNEAST INSTITUTE FOR APPLIED MAR… - Form 990 Financial Data

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1995

Legal Domicile

Principal Officer

Kyle Pepperman

Phone

2072551314

Tax Period

2024-01-01 to 2024-12-31

DOWNEAST INSTITUTE FOR APPLIED MARINE RESEARCH AND EDUCATION INC, founded in 1995, is a community nonprofit in the Animal-Related sector that reported $2.0M in total revenue in fiscal year 2024. Revenue fell 24% from the prior year — a significant decline worth monitoring. Net assets of $8.5M represent 50 months of operating reserves.

Mission

TO DEVELOP AND ENHANCE MAINE'S MARINE RESOURCES THROUGH APPLIED SCIENTIFIC RESEARCH, TECHNOLOGY TRANSFER, PUBLIC EDUCATION AND AQUACULTURE.

Program Service Accomplishments

Program 1

Expenses: $1,494,658 Revenue: $517,558

THE DOWNEAST INSTITUTE CONDUCTS RESEARCH AND TECHNOLOGY TRANSFER TO HELP SPUR INNOVATION IN PUBLIC AND PRIVATE SHELLFISH AQUACULTURE. WE CONDUCT K-12 PROGRAMMING AND PROFESSIONAL EDUCATOR DEVELOPMENT IN MARINE SCIENCE AND OFFER UNDERGRADUATE AND GRADUATE LEVEL INTERNSHIPS FOR COLLEGE STUDENTS. WE PROVIDE FACILITIES AND SERVICES TO RESEARCHERS AS THE EASTERN MOST MARINE SCIENCE FIELD STATION IN THE UNITED STATES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,493,996

Program Service Revenue $508,950

Investment Income $31,009

Other Revenue $8,608

TOTAL REVENUE $2,042,563

Expense Breakdown

Grants Paid $0

Salaries & Benefits $965,310

Fundraising Expenses $151,590

Program Expenses $1,494,658

Other Expenses $1,060,873

TOTAL EXPENSES $2,026,183

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,042,563	$2,697,975	-0.2%
Expenses	$2,026,183	$2,367,998	-0.1%
Net Income	$16,380	$329,977	-1.0%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$126,415

Total Directors

$132,915

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
LYNN ALLEY	CHAIR	4.00	Officer Director	$20,873	$0	$20,873
DR SHERRIE SPRANGERS	VICE CHAIR	4.00	Officer Director	$0	$0	$0
JANE HINSON	CLERK/TREASURER	2.00	Officer Director	$0	$0	$0
JASON ALLEY	DIRECTOR	1.00	Director	$0	$0	$0
JONATHAN ALLEY	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER BARTLETT	DIRECTOR	1.00	Director	$0	$0	$0
DR BRIAN BEAL	DIRECTOR & DIRECTOR OF RES	4.00	Director	$6,500	$0	$6,500
WENDELL BRADFORD	DIRECTOR	1.00	Director	$0	$0	$0
SAM CHAPMAN	DIRECTOR	1.00	Director	$0	$0	$0
DEAN GIRDIS	DIRECTOR	1.00	Director	$0	$0	$0
PETER GREENE	DIRECTOR	1.00	Director	$0	$0	$0
TOM HASLETT	DIRECTOR	1.00	Director	$0	$0	$0
GAYLE KRAUS	DIRECTOR	1.00	Director	$0	$0	$0
RALPH SMITH	DIRECTOR	1.00	Director	$0	$0	$0
DIANNE TILTON	EXECUTIVE DIRECTOR	40.00	Officer Director	$95,538	$10,004	$105,542

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$2,042,563	$2,026,183	$9,849,662	$16,380
2023	$2,697,975	$2,367,998	$6,435,897	$329,977
2022	$1,574,675	$2,028,124	$5,056,684	$-453,449
2021	$1,513,596	$1,623,764	$5,216,598	$-110,168
2020	$1,146,084	$1,411,801	$5,224,039	$-265,717
2019	$1,470,973	$1,490,118	$5,194,112	$-19,145
2018	$2,451,156	$1,556,087	$5,128,056	$895,069

DOWNEAST INSTITUTE FOR APPLIED MARINE RESEARCH AND EDUCATION INC