GULF OF MAINE PROPERTIES INC

EIN: 201480528 501(c)(3) Science & Technology

PORTLAND, ME

Total Revenue
$1,081,738
Total Expenses
$1,077,818
Total Assets
$10,423,459
Net Assets
$7,713,610
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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
ME
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

THE PURPOSE OF THE CORPORATION IS TO PROMOTE THE LAWFUL INTEREST OF THE GULF OF MAINE RESEARCH INSTITUTE, A NONPROFIT, CHARITABLE INSTITUTION DULY ORGANIZED AND EXISTING UNDER THE LAWS OF THE STATE OF MAINE BY ACQUIRING, HOLDING, MANAGING, MAINTAINING, DEVELOPING, OR DISPOSING OF REAL PROPERTY FOR THE BENEFIT OF AND IN CONNECTION WITH THE GULF OF MAINE RESEARCH INSTITUTE.

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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 (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

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Governance

Voting Members
3
Independent Members
3
Employees
N/A
Volunteers
3

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
5
$1,123,006
Total Directors
4
$167,845
Key Employees
0
$0
Highest Compensated
0
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
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