SEAFOOD PRODUCTS ASSOCIATION (EIN 208459653) - 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

2007

Legal Domicile

Principal Officer

LENNA SOUTHLAND

Phone

2063233540

Tax Period

2024-01-01 to 2024-12-31

SEAFOOD PRODUCTS ASSOCIATION, founded in 2007, is a community nonprofit in the Community Improvement sector that reported $1.2M in total revenue in fiscal year 2024. Revenue decreased 18% compared to the prior year. Expenses of $1.4M exceeded revenue, resulting in a 13% operating deficit.

Mission

TO PROMOTE PUBLIC POLICY, INCREASE PRODUCTIVITY AND GROWTH, AND PROTECT THE FOOD SUPPLY.

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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 $0

Program Service Revenue $1,217,964

Investment Income $19,910

Other Revenue $0

TOTAL REVENUE $1,237,874

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,160,470

Fundraising Expenses $0

Other Expenses $241,181

TOTAL EXPENSES $1,401,651

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,237,874	$1,501,188	-0.2%
Expenses	$1,401,651	$1,543,622	-0.1%
Net Income	$-163,777	$-42,434	+2.9%

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

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

$358,474

Total Directors

$358,474

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLAUDIA G COLES	PRESIDENT	38.00	Officer Director	$163,909	$49,847	$213,756
LENNA SOUTHLAND	ADMINISTRATIVE DIRECTOR	38.00	Officer Director	$104,045	$40,673	$144,718
STEFANIE MORELAND	DIRECTOR	0.25	Director	$0	$0	$0
ALNOOR HIRJI	DIRECTOR	0.25	Director	$0	$0	$0
JASON MARTIN	DIRECTOR	0.25	Director	$0	$0	$0
DAVID FORBUSH	DIRECTOR	0.25	Director	$0	$0	$0
LE HEGGE	DIRECTOR	0.25	Director	$0	$0	$0
TIFFANY LAKE	DIRECTOR	0.25	Director	$0	$0	$0
JOHN VIECHNICKI	DIRECTOR	0.25	Director	$0	$0	$0
JEFF BACKLUND	DIRECTOR	0.25	Director	$0	$0	$0
SUBBARAO GURRAM	VP OF PROCESS AUTHORITY SE	40.00	Highest	$125,739	$39,927	$165,666
BRUCE C ODEGAARD	VP OF PRODUCT SERVICES	40.00	Highest	$104,905	$32,277	$137,182

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	$1,237,874	$1,401,651	$2,001,675	$-163,777
2023	$1,501,188	$1,543,622	$2,107,245	$-42,434
2022	$1,573,947	$1,564,913	$2,155,764	$9,034
2021	$1,343,298	$1,464,536	$2,137,958	$-121,238
2020	$1,506,625	$1,493,926	$2,268,338	$12,699
2019	$1,202,223	$1,516,884	$2,241,656	$-314,661
2018	$1,635,852	$1,452,709	$2,510,013	$183,143

SEAFOOD PRODUCTS ASSOCIATION