GLOUCESTER MARINE GENOMICS INSTITUTE INCORPORATED (EIN 463020006) - 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

2013

Legal Domicile

Principal Officer

BONNIE FENDROCK

Phone

9788794575

Tax Period

2024-01-01 to 2024-12-31

GLOUCESTER MARINE GENOMICS INSTITUTE INCORPORATED, founded in 2013, is a community nonprofit in the Science & Technology sector that reported $9.9M in total revenue in fiscal year 2024. Revenue surged 74% from the prior year, signaling strong growth momentum. The organization ran a surplus of $4.0M, a strong 41% operating margin.

Mission

TO ADDRESS CRITICAL CHALLENGES FACING OUR OCEANS, HUMAN HEALTH AND THE ENVIRONMENT THROUGH INNOVATIVE SCIENTIFIC RESEARCH AND EDUCATION. BY BRINGING WORLD-CLASS SCIENCE AND TRANSFORMATIVE WORKFORCE DEVELOPMENT TO GLOUCESTER'S HISTORIC WATERFRONT, GMGI IS CATALYZING THE REGIONAL ECONOMY.

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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 $9,715,449

Program Service Revenue $109,987

Investment Income $22,971

Other Revenue $8,451

TOTAL REVENUE $9,856,858

Expense Breakdown

Grants Paid $177,601

Salaries & Benefits $3,696,348

Fundraising Expenses $496,891

Program Expenses $4,305,943

Other Expenses $1,965,525

TOTAL EXPENSES $5,839,474

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,856,858	$5,663,713	+0.7%
Expenses	$5,839,474	$5,271,443	+0.1%
Net Income	$4,017,384	$392,270	+9.2%

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

$269,636

Total Directors

Key Employees

$251,450

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARC VIDAL	PRESIDENT	1.00	Officer Director	$0	$0	$0
MICHELE MAY	BOARD CHAIR & TREASURER	4.00	Officer Director	$0	$0	$0
TOM SIMONS	DIRECTOR/CLERK	2.00	Officer Director	$0	$0	$0
JOSE-CARLOS GUTIERREZ-RAMOS	DIRECTOR	1.00	Director	$0	$0	$0
BILL KANE	DIRECTOR	2.00	Director	$0	$0	$0
LAURA LISS	DIRECTOR THRU 06/2024	1.00	Director	$0	$0	$0
JOHN O'CONNOR	DIRECTOR	2.00	Director	$0	$0	$0
GEORGE PUTNAM	DIRECTOR	2.00	Director	$0	$0	$0
LAURA SEN	DIRECTOR	2.00	Director	$0	$0	$0
DAVID WALT	DIRECTOR	1.00	Director	$0	$0	$0
JIM WESTRA	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTINE BOLZAN	EXECUTIVE DIRECTOR	40.00	Officer	$267,956	$1,680	$269,636
ANDREA BODNAR	SCIENCE DIRECTOR	40.00	Key Emp	$222,055	$29,395	$251,450
JOHN DOYLE	EDUCATION DIRECTOR	40.00	Highest	$125,614	$38,471	$164,085
ANDREW GARDNER	CHIEF SCIENTIFIC OFFICER	40.00	Highest	$134,838	$191	$135,029
MATTHEW HARKE	RESEARCH SCIENTIST II	40.00	Highest	$108,777	$22,388	$131,165
LAURA RICHANE	DIRECTOR OF PARTNERSHIP & ENROLLMENT	40.00	Highest	$118,119	$36,007	$154,126
LOGAN WALSH	DEVELOPMENT DIRECTOR	40.00	Highest	$175,581	$18,498	$194,079

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	$9,856,858	$5,839,474	$13,172,949	$4,017,384
2023	$5,663,713	$5,271,443	$9,194,920	$392,270
2022	$4,950,560	$4,182,030	$8,833,922	$768,530
2021	$3,696,624	$3,299,148	$6,391,248	$397,476
2020	$2,200,360	$2,905,680	$5,971,628	$-705,320
2019	$3,132,397	$2,748,462	$6,702,969	$383,935
2018	$4,510,020	$1,843,630	$6,458,366	$2,666,390

GLOUCESTER MARINE GENOMICS INSTITUTE INCORPORATED