GULF OF MAINE RESEARCH INSTITUTE (EIN 010504905) - Form 990 Financial Analysis & Trantor Score

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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

1994

Legal Domicile

Principal Officer

GLENN PRICKETT

Phone

2077722321

Tax Period

2024-07-01 to 2025-06-30

GULF OF MAINE RESEARCH INSTITUTE, founded in 1994, is a mid-sized nonprofit in the Animal-Related sector that reported $23.3M in total revenue in fiscal year 2024. Revenue grew 15% year-over-year, indicating healthy expansion. The organization ran a surplus of $4.0M, a strong 17% operating margin.

Mission

GMRI PIONEERS COLLABORATIVE SOLUTIONS TO GLOBAL OCEAN CHALLENGES.

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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 $21,021,414

Program Service Revenue $1,091,186

Investment Income $827,462

Other Revenue $385,875

TOTAL REVENUE $23,325,937

Expense Breakdown

Grants Paid $0

Salaries & Benefits $11,363,079

Fundraising Expenses $1,369,786

Program Expenses $13,139,939

Other Expenses $7,996,418

TOTAL EXPENSES $19,359,497

Year-over-Year Comparison

	2024	2023	Change
Revenue	$23,325,937	$20,243,085	+0.2%
Expenses	$19,359,497	$17,708,525	+0.1%
Net Income	$3,966,440	$2,534,560	+0.6%

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

130

Volunteers

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

$774,159

Total Directors

Key Employees

$520,109

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL BONNEY	CHAIR	2.00	Officer Director	$0	$0	$0
DENISE DESCHENES	VICE CHAIR	2.00	Officer Director	$0	$0	$0
LISA HOOK	TREASURER	1.00	Officer Director	$0	$0	$0
PAT PANAIA	SECRETARY	2.00	Officer Director	$0	$0	$0
GEORGE BELL	DIRECTOR	1.00	Director	$0	$0	$0
TAWNY ALVAREZ	DIRECTOR	1.00	Director	$0	$0	$0
PETER BRYANT	DIRECTOR	1.00	Director	$0	$0	$0
DICK CURRAN	DIRECTOR	1.00	Director	$0	$0	$0
JILL DUSON	DIRECTOR	1.00	Director	$0	$0	$0
JAY ESPY	DIRECTOR	1.00	Director	$0	$0	$0
JEAN GULLIVER	DIRECTOR (THRU	1.00	Director	$0	$0	$0
ERIC HALEY	DIRECTOR	1.00	Director	$0	$0	$0
REBECCA HATFIELD	DIRECTOR (THRU	1.00	Director	$0	$0	$0
LUKE HOLDEN	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET HONEY	DIRECTOR	1.00	Director	$0	$0	$0
ERIC KOLBEN	DIRECTOR	1.00	Director	$0	$0	$0
R SCOTT MAHONEY	DIRECTOR (THRU	1.00	Director	$0	$0	$0
RICHARD MERRICK	DIRECTOR	1.00	Director	$0	$0	$0
TONY MCDONALD	DIRECTOR (THRU	1.00	Director	$0	$0	$0
STEVEN MURAWSKI	DIRECTOR	1.00	Director	$0	$0	$0
PENNY NOYCE	DIRECTOR (THRU	1.00	Director	$0	$0	$0
ANNE OLIVIERO	DIRECTOR (THRU	1.00	Director	$0	$0	$0
MATTHEW O'REILLY	DIRECTOR	1.00	Director	$0	$0	$0
CECILY PINGREE	DIRECTOR	1.00	Director	$0	$0	$0
FRANK SIMON	DIRECTOR	1.00	Director	$0	$0	$0
DAVID SMITH	DIRECTOR	1.00	Director	$0	$0	$0
JULIA TROTMAN	DIRECTOR	1.00	Director	$0	$0	$0
ABIGAL WARK	DIRECTOR	1.00	Director	$0	$0	$0
CHARISSA KERR	CHIEF FINANCIAL OFFICER	40.00	Officer	$180,020	$10,295	$190,315
NANA ANNAN	CHIEF OPERATING OFFICER	40.00	Officer	$198,907	$4,914	$203,821
GLENN PRICKETT	PRESIDENT/CEO	40.00	Officer	$371,136	$8,887	$380,023
BLAINE GRIMES	CHIEF VENTURES OFFICER	40.00	Key Emp	$307,355	$26,182	$333,537
MARGARET HENDRICKS ROUDSARI	CHIEF DEVELOPMENT OFFICER	40.00	Key Emp	$174,333	$12,239	$186,572
JANET DUFFY-ANDERSON	CHIEF SCIENTIFIC OFFICER	40.00	Highest	$192,017	$15,674	$207,691
DAVID REIDMILLER	CLIMATE CENTER DIRECTOR	40.00	Highest	$175,355	$22,068	$197,423
LEIGH PEAKE	CHIEF EDUCATION OFFICER	40.00	Highest	$185,333	$17,461	$202,794
KATHY MILLS	RESEARCH SCIENTIST	40.00	Highest	$157,777	$9,452	$167,229
GRAHAM SHERWOOD	RESEARCH SCIENTIST	40.00	Highest	$156,509	$19,366	$175,875
DONALD W PERKINS JR	PRESIDENT/CEO THRU12/31/23	0.00		$451,198	$1,022	$452,220

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
2025	$23,325,937	$19,359,497	$59,376,541	$3,966,440
2024	$20,243,085	$17,708,525	$53,705,208	$2,534,560
2023	$19,370,120	$15,361,083	$50,428,548	$4,009,037
2022	$15,490,107	$13,066,663	$45,327,842	$2,423,444
2021	$13,047,979	$11,443,471	$29,423,293	$1,604,508
2020	$15,942,946	$12,092,531	$26,242,989	$3,850,415
2019	$13,945,444	$10,462,217	$22,252,142	$3,483,227

GULF OF MAINE RESEARCH INSTITUTE