CALIFORNIA FISHERIES FUND 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

2008

Legal Domicile

Principal Officer

DAVID FESTA

Phone

2125052100

Tax Period

2017-10-01 to 2018-09-30

CALIFORNIA FISHERIES FUND INC, founded in 2008, is a small nonprofit that reported $181K in total revenue in fiscal year 2017. Revenue fell 26% from the prior year — a significant decline worth monitoring. Expenses of $290K exceeded revenue, resulting in a 60% operating deficit.

Mission

THE CALIFORNIA FISHERIES FUND IS A PUBLIC-PRIVATE-NONPROFIT PARTNERSHIP THAT PROVIDES LOANS TO SUPPORT THE ENTIRE SEAFOOD SUPPLY CHAIN, FROM FISHERMAN TO DOCKSIDE FISH BUYERS TO PROCESSORS AND DISTRIBUTORS. THESE INVESTMENTS ARE STIMULATING NEW JOBS AND COASTAL COMMUNITIES, AND ALIGNING THE ECONOMIC INTERESTS OF FISHING COMMUNITIES WITH OCEAN CONSERVATION AND STEWARDSHIP GOALS.

Program Service Accomplishments

Program 1

Expenses: $269,814 Revenue: $78,456

THE CALIFORNIA FISHERIES FUND ("CFF") HELPS FISHERMAN PURCHASE EQUIPMENT, DEVELOP FISHING PORT INFRASTRUCTURE, AND CREATE AND IMPLEMENT NEW BUSINESS PLANS FOR BRINING ECO-FRIENDLY FISH TO NEW...

THE CALIFORNIA FISHERIES FUND ("CFF") HELPS FISHERMAN PURCHASE EQUIPMENT, DEVELOP FISHING PORT INFRASTRUCTURE, AND CREATE AND IMPLEMENT NEW BUSINESS PLANS FOR BRINING ECO-FRIENDLY FISH TO NEW MARKETS. CALIFORNIA FISHERMEN ARE FACING CHALLENGING ECONOMIC TIMES, A CREDIT CRUNCH AND LIMITED ACCESS TO FISHING STOCKS, AT A TIME WHEN CONSUMER DEMAND FOR SUSTAINABLE SEAFOOD CONTINUES TO GROW. TO MEET THE RISING DEMAND FOR ECO-FRIENDLY SEAFOOD AND TO GROW OUR FISHING ECONOMY, CFF IS INVESTING IN INNOVATIVE AND ENVIRONMENTALLY-FRIENDLY SEAFOOD BUSINESSES IN CALIFORNIA. THE CFF INVESTS AT EVERY STAGE IN THE SUPPLY CHAIN, FROM THE FISHERMEN, TO THE DOCKSIDE FISH BUYER, TO THE PROCESSOR AND DISTRIBUTOR. FISHERIES UNDERGOING INNOVATIVE MANAGEMENT PROGRAMS THAT LAY THE GROUNDWORK AND ENVIRONMENTAL RECOVERY ARE PARTICULARLY RIPE FOR INVESTMENT. CFF BORROWERS WILL HELP TO DEVELOP A MARKET FOR ECO-FRIENDLY SEAFOOD CAUGHT IN CALIFORNIA WATERS AND IN TURN HELP TO CREATE NEW FISHING INDUSTRY JOBS.

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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 (2017)

Revenue Breakdown

Contributions & Grants $102,500

Program Service Revenue $0

Investment Income $78,456

Other Revenue $218

TOTAL REVENUE $181,174

Expense Breakdown

Grants Paid $78,833

Salaries & Benefits $163,651

Fundraising Expenses $0

Program Expenses $269,814

Other Expenses $48,005

TOTAL EXPENSES $290,489

Year-over-Year Comparison

	2017	2016	Change
Revenue	$181,174	$243,388	-0.3%
Expenses	$290,489	$231,726	+0.3%
Net Income	$-109,315	$11,662	-10.4%

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

$684,594

Total Directors

$1,342,152

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DAVID FESTA	PRESIDENT	2.0	Officer Director	$0	$36,255	$363,952
John McGeehan	TREASURER	1.0	Officer Director	$0	$35,910	$320,642
LAURENCE BAND	DIRECTOR	2.0	Director	$0	$0	$0
TIMOTHY FITZGERALD	DIRECTOR	1.0	Director	$0	$37,223	$146,143
PHOEBE HIGGINS	DIRECTOR	35.0	Director	$0	$26,520	$132,337
AMANDA LELAND	DIRECTOR	1.0	Director	$0	$45,925	$379,078

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
2018	$181,174	$290,489	No data	$-109,315