GLOUCESTER FISHING COMMUNITY PRESERVATION FUND INC

EIN: 640961351 501(c)(3) Environment

GLOUCESTER, MA

Total Revenue
$317,525
Total Expenses
$294,332
Total Assets
$12,306,171
Net Assets
$12,073,330
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2007
Legal Domicile
MA
Principal Officer
VITO GIACALONE
Phone
9782811770
Tax Period
2023-01-01 to 2023-12-31

GLOUCESTER FISHING COMMUNITY PRESERVATION FUND INC, founded in 2007, is a small nonprofit in the Environment sector that reported $318K in total revenue in fiscal year 2023. Revenue fell 36% from the prior year — a significant decline worth monitoring. Expenses of $294K left a modest 7% surplus.

Mission

PRESERVE AND PROMOTE AWARENESS OF GLOUCESTERS FISHERIES, HERITAGE, AND THE FABRIC OF GLOUCESTER, MASSACHUSETTS COMMUNITY;PROTECTING AND ENHANCING THE PORT OF GLOUCESTER AND THE PORTS INFRASTRUCTURE;AND, IN ORDER TO AID FISHERMEN, SERVING AS A CENTRAL REPOSITORY AND

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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 (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $321,818
Investment Income $-4,293
Other Revenue $0
TOTAL REVENUE $317,525

Expense Breakdown

Grants Paid $0
Salaries & Benefits $219,987
Fundraising Expenses $0
Program Expenses $236,345
Other Expenses $74,345
TOTAL EXPENSES $294,332

Year-over-Year Comparison

2023 2022 Change
Revenue $317,525 $497,853 -0.4%
Expenses $294,332 $303,169 0.0%
Net Income $23,193 $194,684 -0.9%
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

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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
4
Employees
2
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
6
$105,000
Key Employees
1
$105,000
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
VITO GIACALONE EXECUTIVE DIRECTOR/DIRECTOR 40.00
Director Key Emp
$105,000 $0 $105,000
JACQUELINE ODELL TREASURER/DIRECTOR 2.00
Officer Director
$0 $0 $0
DALE BROWN CLERK/DIRECTOR 2.00
Officer Director
$0 $0 $0
ANGELA SANFILIPPO PRESIDENT/DIRECTOR 2.00
Officer Director
$0 $0 $0
KATHI TURNER DIRECTOR 2.00
Director
$0 $0 $0
ROBERT GILLIS DIRECTOR 2.00
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 No data No data No data No data
2023 $317,525 $294,332 $12,306,171 $23,193
2022 $497,853 $303,169 $12,263,156 $194,684
2021 $381,262 $299,622 $12,234,085 $81,640
2020 $648,856 $304,548 $12,456,301 $344,308
2019 $173,661 $344,358 $12,161,755 $-170,697
2018 $372,300 $307,586 $11,736,394 $64,714
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