Global Seafood Assurances 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

2019

Legal Domicile

Principal Officer

Wallace Stevens

Phone

6033175000

Tax Period

2021-01-01 to 2021-12-31

Global Seafood Assurances Inc, founded in 2019, is a micro nonprofit that reported $41K in total revenue in fiscal year 2021. Revenue fell 82% from the prior year — a significant decline worth monitoring. Expenses of $113K exceeded revenue, resulting in a 178% operating deficit.

Mission

To provide credible assurances for wild-catch seafood to the marketplace that seafood is responsibly and sustainably harvested. This includes the full supply-chain assurances for sustainability, social responsibility, food safety, and animal health and welfare.

Program Service Accomplishments

Program 1

GSA was established to meet marketplace expectations for assurances across the board in aquaculture and fisheries. Those assurances will flow from third-party certification programs that have been...

GSA was established to meet marketplace expectations for assurances across the board in aquaculture and fisheries. Those assurances will flow from third-party certification programs that have been benchmarked by a combination of the Global Sustainable Seafood Initiative (GSSI), Global Food Safety Initiative (GFSI) and Global Social Compliance Programme (GSCP) and will address integrated assurances for environmental responsibility, social responsibility, food safety and animal welfare. During 2021, the Organization formally ceased operations and transfered all of its assets and activities to Global Seafood Alliance, Inc. an affiliated entity.

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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 (2021)

Revenue Breakdown

Contributions & Grants $18,395

Program Service Revenue $22,109

Investment Income $0

Other Revenue $0

TOTAL REVENUE $40,504

Expense Breakdown

Grants Paid $0

Salaries & Benefits $27,141

Fundraising Expenses $0

Other Expenses $85,399

TOTAL EXPENSES $112,540

Year-over-Year Comparison

	2021	2020	Change
Revenue	$40,504	$225,449	-0.8%
Expenses	$112,540	$732,001	-0.8%
Net Income	$-72,036	$-506,552	-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

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

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

$486,217

Total Directors

$590,402

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Marcus Coleman	Director	1.00	Director	$0	$0	$0
Horace Dawson	Director	1.00	Director	$0	$0	$0
Ally Dingwall	Director	1.00	Director	$0	$0	$0
Melanie Siggs	Director	1.00	Director	$0	$0	$104,185
Wally Stevens	President & Executive Dire	40.00	Officer Director	$0	$4,000	$204,000
William Herzig	Vice President	1.00	Officer Director	$0	$0	$77,000
William Clark	Treasurer/Secretary	1.00	Officer Director	$0	$32,742	$205,217

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
2021	$40,504	$112,540	No data	$-72,036
2020	$225,449	$732,001	$39,922	$-506,552