INDIAN TOWNSHIP PASSAMAQUODDY DEVE… - Form 990 Financial Data

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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

JOSEPH SOCOBASIN

Phone

2077962301

Tax Period

2018-10-01 to 2019-09-30

INDIAN TOWNSHIP PASSAMAQUODDY DEVELOPMENT AGENCY, founded in 2013, is a small nonprofit that reported $577K in total revenue in fiscal year 2018. Revenue fell 20% from the prior year — a significant decline worth monitoring.

Mission

THE AGENCY WAS FORMED TO IMPROVE THE QUALITY OF LIFE FOR THE PASSAMAQUODDY PEOPLE THROUGH ECONOMIC INITIATIVES, DEVELOPING ECONOMIC OPPORTUNITIES AND SKILL DEVELOPMENT OPPORTUNITIES.

Program Service Accomplishments

Program 1

Expenses: $549,228

THE AGENCY WAS FORMED TO IMPROVE THE QUALITY OF LIFE FOR THE PASSAMAQUODDY PEOPLE - THIS INVOLVES ECONOMIC INITIATIVES, DEVELOPING ECONOMIC OPPORTUNITIES, AND SKILL DEVELOPMENT OPPORTUNITIES...

THE AGENCY WAS FORMED TO IMPROVE THE QUALITY OF LIFE FOR THE PASSAMAQUODDY PEOPLE - THIS INVOLVES ECONOMIC INITIATIVES, DEVELOPING ECONOMIC OPPORTUNITIES, AND SKILL DEVELOPMENT OPPORTUNITIES SPECIFICALLY TARGETING THE MEMBERS OF THE PASSAMAQUODDY TRIBE LOCATED AT INDIAN TOWNSHIP, PLEASANT POINT, AND THE SURROUNDING COMMUNITIES.

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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 (2018)

Revenue Breakdown

Contributions & Grants $575,009

Program Service Revenue $0

Investment Income $0

Other Revenue $1,682

TOTAL REVENUE $576,691

Expense Breakdown

Grants Paid $0

Salaries & Benefits $275,873

Fundraising Expenses $0

Program Expenses $549,228

Other Expenses $344,300

TOTAL EXPENSES $620,173

Year-over-Year Comparison

	2018	2017	Change
Revenue	$576,691	$724,997	-0.2%
Expenses	$620,173	$768,531	-0.2%
Net Income	$-43,482	$-43,534	0.0%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CLAYTON CLEAVES	BOARD MEMBER	2.00	Director	$0	$0	$0
JOSEPH SOCOBASIN	PRESIDENT	2.00	Officer	$0	$0	$0
CLAYTON SOCKABASIN	VICE PRESIDENT	2.00	Officer	$0	$0	$0
MATT LEWIS	TREASURER	2.00	Officer	$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
2019	$576,691	$620,173	$176,234	$-43,482
2018	$724,997	$768,531	$212,495	$-43,534

INDIAN TOWNSHIP PASSAMAQUODDY DEVELOPMENT AGENCY