NANTUCKET ICE COMPANY INC

EIN: 043256369 501(c)(3) Recreation & Sports

NANTUCKET, MA

Total Revenue
$553,500
Total Expenses
$782,850
Total Assets
$4,614,240
Net Assets
$4,553,691
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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
MA
Principal Officer
DEVIN REMICK
Phone
5082282516
Tax Period
2020-01-01 to 2020-12-31

NANTUCKET ICE COMPANY INC, founded in 1994, is a small nonprofit in the Recreation & Sports sector that reported $554K in total revenue in fiscal year 2020. Revenue decreased 10% compared to the prior year. Expenses of $783K exceeded revenue, resulting in a 41% operating deficit.

Mission

TO PROMOTE A SAFE AND HEALTHY RECREATIONAL ENVIRONMENT WHERE NANTUCKET CHILDREN, ADULTS, AND FAMILIES CAN GATHER TO ENJOY THE SPORT OF ICE-SKATING

Program Service Accomplishments

Program 1
Expenses: $614,220 Revenue: $322,571

EXPENSES DIRECTLY RELATED TO ICE SKATING RINK PROGRAM. SKATING PROGRAMS INCLUDE KIDS ON ICE, LEARN TO SKATE AND SYNCHRONIZED SKATING PROGRAMS (350 SKATERS). IN ADDITION, PROGRAMS INCLUDE ICE TIME FOR...

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EXPENSES DIRECTLY RELATED TO ICE SKATING RINK PROGRAM. SKATING PROGRAMS INCLUDE KIDS ON ICE, LEARN TO SKATE AND SYNCHRONIZED SKATING PROGRAMS (350 SKATERS). IN ADDITION, PROGRAMS INCLUDE ICE TIME FOR YOUTH HOCKEY LEAGUE, HIGH SCHOOL HOCKEY PROGRAMS, ADULT LEAGUES, CLINICS AND CAMPS

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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%)

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Financial Overview (2020)

Revenue Breakdown

Contributions & Grants $186,387
Program Service Revenue $298,551
Investment Income $44,171
Other Revenue $24,391
TOTAL REVENUE $553,500

Expense Breakdown

Grants Paid $0
Salaries & Benefits $256,116
Fundraising Expenses $33,921
Program Expenses $614,220
Other Expenses $526,734
TOTAL EXPENSES $782,850

Year-over-Year Comparison

2020 2019 Change
Revenue $553,500 $611,611 -0.1%
Expenses $782,850 $834,917 -0.1%
Net Income $-229,350 $-223,306 +0.0%
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

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Governance

Voting Members
11
Independent Members
11
Employees
10
Volunteers
25

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
4
$0
Total Directors
11
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JENNIFER KING TREASURER 1.00
Officer Director
$0 $0 $0
SCOTT CORBETT CLERK/BLDG COMMITTEE CHAIR 0.50
Officer Director
$0 $0 $0
ERIK EVENS VICE PRESIDENT 0.50
Officer Director
$0 $0 $0
DEVIN REMICK PRESIDENT 0.50
Officer Director
$0 $0 $0
ANDE GRENNAN TRUSTEE 0.50
Director
$0 $0 $0
CHARLES GIBSON TRUSTEE 0.50
Director
$0 $0 $0
CAMERON GAMMILL TRUSTEE 0.50
Director
$0 $0 $0
MONIQUE HARRINGTON TRUSTEE 0.50
Director
$0 $0 $0
MIKE GILLIES TRUSTEE 0.50
Director
$0 $0 $0
KAREN THEROUX TRUSTEE 0.50
Director
$0 $0 $0
SHARON QUIGLEY TRUSTEE 0.50
Director
$0 $0 $0
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
2020 $553,500 $782,850 $4,614,240 $-229,350
2019 $611,611 $834,917 $4,827,888 $-223,306
2018 $594,057 $823,181 $5,007,169 $-229,124
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