GULF OF MAINE PROPERTIES INC

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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

2004

Legal Domicile

Principal Officer

GLENN PRICKETT

Phone

2072281690

Tax Period

2023-07-01 to 2024-06-30

GULF OF MAINE PROPERTIES INC, founded in 2004, is a community nonprofit in the Science & Technology sector that reported $1.1M in total revenue in fiscal year 2023. Revenue decreased 9% compared to the prior year. Net assets of $7.7M represent 86 months of operating reserves.

Mission

TO ACQUIRE, HOLD, MANAGE, MAINTAIN, DEVELOP, OR DISPOSE OF REALPROPERTY FOR THE BENEFIT OF AND IN CONNECTION WITH THE GULF OF MAINERESEARCH INSTITUTE.

Program Service Accomplishments

Program 1

Expenses: $920,953 Revenue: $1,022,033

GULF OF MAINE PROPERTIES OWNS, MANAGES, MAINTAINS AND DEVELOPS REAL PROPERTY FOR THE BENEFIT OF GULF OF MAINE RESEARCH INSTITUTE (GMRI). GMRI OCCUPIED 90.98% OF THE FACILITIES AND THE REMAINING SPACE WAS RENTED TO OTHER TENANTS IN ORDER TO SUBSIDIZE THE COST OF THE FACILITIES AND THEREBY SUPPORT GMRI'S MISSION. TENANTS EITHER PROVIDED SERVICES CONSISTENT WITH GMRI'S MISSION OR PROVIDED SUBSTANTIAL SERVICES TO GMRI WHICH DIRECTLY SUPPORTED GMRI'S MISSION.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,022,033

Investment Income $59,705

Other Revenue $0

TOTAL REVENUE $1,081,738

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $920,953

Other Expenses $1,077,818

TOTAL EXPENSES $1,077,818

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,081,738	$1,191,396	-0.1%
Expenses	$1,077,818	$1,159,352	-0.1%
Net Income	$3,920	$32,044	-0.9%

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

N/A

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

$1,123,006

Total Directors

$167,845

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARISSA KERR	TREASURER	5.00	Officer Director	$0	$12,016	$167,845
TONY MCDONALD	CHAIR	1.00	Officer Director	$0	$0	$0
DAVID SMITH	SECRETARY	1.00	Officer Director	$0	$0	$0
REBECCA HATFIELD	DIRECTOR	1.00	Director	$0	$0	$0
DONALD W PERKINS JR	PRESIDENT THRU 12/31/23	5.00	Officer	$0	$105,446	$737,213
GLENN PRICKETT	PRESIDENT	5.00	Officer	$0	$27,762	$217,948

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	No data	No data	No data	No data
2024	$1,081,738	$1,077,818	$10,423,459	$3,920
2023	$1,191,396	$1,159,352	$10,597,155	$32,044
2022	$1,057,275	$957,070	$10,565,313	$100,205
2021	$915,936	$1,006,145	$10,663,046	$-90,209
2020	$872,461	$983,772	$10,926,643	$-111,311
2019	$890,435	$1,016,946	$11,057,672	$-126,511