Alaska Seafood Cooperative

EIN: 261317661 Employment

Seattle, WA

Total Revenue
$721,476
Total Expenses
$754,165
Total Assets
$53,685
Net Assets
$53,685
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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
WA
Phone
2064627690
Tax Period
2024-01-01 to 2024-12-31

Alaska Seafood Cooperative, founded in 2007, is a small nonprofit in the Employment sector that reported $721K in total revenue in fiscal year 2024. Revenue surged 32% from the prior year, signaling strong growth momentum.

Mission

The cooperative was formed for the purpose of promoting, fostering, and encouraging the intelligent and orderly harvest of Bering Sea/Aleutian Islands ("BSAI") yellowfin sole, rock sole, flathead sole, Atka mackerel and Pacific cod, Aleutian Islands Pacific Ocean perch, and other BSAI and Gulf of Alaska groundfish;reducing waste and improving resource utilization by vessels employed in such fisheries (together, the "Fisheries"); reducing the discard mortality of non-target species by vessels employed in the Fisheries and supporting research and public education about the Fisheries.

Program Service Accomplishments

Program 1

Alaska Seafood Cooperative (ASC) is an industry group representing several "freezer trawler" fishing companies that all share the goal of improving the management and ecological stewardship of...

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Alaska Seafood Cooperative (ASC) is an industry group representing several "freezer trawler" fishing companies that all share the goal of improving the management and ecological stewardship of flatfish and other non-pollock groundfish fisheries in the Bering Sea.Flatfish are managed by the same strict, science-based standards that have made Alaska fisheries globally renowned as among the best managed in the world. Catches are held at or below scientific limits, none of these stocks are overfished, and fishing is strictly regulated to prevent excessive bycatch of other species.Bycatch is a major concern for ASC and fishery managers. Bycatch limits are placed on the mortality of incidental catch of species like halibut and crab and if any of these limits are reached, the flatfish fisheries will be closed regardless of how much is left of their quota.From its inception, ASC worked with the North Pacific Fishery Management Council to end the "race for fish and develop a safer, more responsible way to manage the fisheries. The resulting new system (Amendment 80) went into effect in 2008 and divides the groundfish target quotas and bycatch limits among cooperatives like ASC. This new management system makes each group responsible for its own catch and bycatch, and also provides strong incentives for the co-ops to keep bycatch rates low, maximize retention of target catches that can be marketed, and reward those who fish cleanly and efficiently.At industry expense, observer coverage aboard flatfish vessels was doubled from historic levels, resulting in the current standard of 200% coverage for the fleet. New flow scales were adopted that precisely account for everything that is caught. Additionally, fishermen collaborated with Federal scientists to reduce the impact of their nets, resulting in the fleets implementation of modified flatfish trawls that reduce seafloor contact by as much as 90% relative to older gear types.In 2010, the flatfish industry decided to pursue certification under the Marine Stewardship Council (MSC), an internationally recognized body that provides third-party, objective certification of sustainable fisheries. MSC certification involves close and ongoing scrutiny through a transparent, science-based process to evaluate soundness of stock assessments, impacts of fishing on target and bycatch species as well as the overall ecosystem, and other metrics of sustainability. The flatfish fisheries were certified under the MSC guidelines in 2010, and this certification was renewed in 2015 and 2020. Additionally, several species of rockfish and Atka mackerel were certified by MSC in 2020.More recently, the ASC has been refining a program of deck sorting under an exempted fishing permit (EFP). This EFP allows for experimental fishing practices to be tested under the supervision of Federal scientists. The deck sorting EFP has allowed for halibut an important bycatch species to be returned to the water much faster than would be the case under normal regulations, greatly reducing halibut mortality. Deck sorting was made part of normal regulations beginning in the 2020 season.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $721,476
Investment Income $0
Other Revenue $0
TOTAL REVENUE $721,476

Expense Breakdown

Grants Paid $0
Salaries & Benefits $446,066
Fundraising Expenses $0
Other Expenses $308,099
TOTAL EXPENSES $754,165

Year-over-Year Comparison

2024 2023 Change
Revenue $721,476 $548,457 +0.3%
Expenses $754,165 $571,644 +0.3%
Net Income $-32,689 $-23,187 +0.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
5
Independent Members
5
Employees
3
Volunteers
N/A

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
3
$0
Total Directors
8
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Sarah Webster Employee 40.00
$151,000 $48,383 $199,383
Elizabeth Concepcion Employee 40.00
$158,333 $4,725 $163,058
John Gauvin Employee 40.00
$51,458 $2,976 $54,434
Jim Johnson Director 3.00
Director
$0 $0 $0
Helena Park Director 3.00
Director
$0 $0 $0
Glenn Merrill VP/President 10.00
Officer Director
$0 $0 $0
Matt Doherty Director 3.00
Director
$0 $0 $0
Mary Beth Tooley Sec/Treasurer 3.00
Officer Director
$0 $0 $0
Mike Faris Director 3.00
Director
$0 $0 $0
Francis J O'Hara Director 3.00
Director
$0 $0 $0
Jason Anderson President 1.00
Officer 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
2024 $721,476 $754,165 $53,685 $-32,689
2023 $548,457 $571,644 $86,374 $-23,187
2022 $566,796 $520,351 $110,895 $46,445
2021 $463,250 $518,590 $63,116 $-55,340
2020 $685,548 $607,330 $118,456 $78,218
2019 $594,636 $800,705 $40,238 $-206,069
2018 $805,339 $599,161 $249,882 $206,178
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