FERRY COVE SHELLFISH INC

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2020

Legal Domicile

Principal Officer

STEPHAN ABEL

Phone

4108861006

Tax Period

2023-01-01 to 2023-12-31

FERRY COVE SHELLFISH INC, founded in 2020, is a community nonprofit in the Animal-Related sector that reported $1.7M in total revenue in fiscal year 2023. Revenue surged 192% from the prior year, signaling strong growth momentum.

Mission

FERRY COVE SHELLFISH IS AN OYSTER HATCHERY THAT WILL BE DESIGNING, PROMOTING AND IMPLEMENTING SUSTAINABLE AQUACULTURE-RELATED ACTIVITIES CONTINUED ON SCHEDULE O

Program Service Accomplishments

Program 1

Expenses: $1,510,414 Revenue: $397,827

FERRY COVE SHELLFISH IS COMMITTED TO THE LONG-TERM VIABILITY OF THE COMMERCIAL SHELLFISH INDUSTRY AND A THRIVING CHESAPEAKE BAY. WE COLLABORATE WITH SCIENTISTS, WATERMEN, BUSINESS OWNERS AND POLICY MAKERS TO ADDRESS THE CURRENT AND FUTURE NEEDS OF THIS FAST-GROWING INDUSTRY. OUR FACILITY IS DESIGNED TO PRODUCE SHELLFISH AND TO STUDY, IMPLEMENT AND DEMONSTRATE INNOVATIVE TECHNIQUES AND PROCESSES NEEDED TO ADVANCE THE EFFICIENCY AND COST EFFECTIVENESS OF THE AQUACULTURE COMMUNITY THROUGHOUT THE MID-ATLANTIC REGION.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,322,417

Program Service Revenue $397,827

Investment Income $0

Other Revenue $3,271

TOTAL REVENUE $1,723,515

Expense Breakdown

Grants Paid $407,116

Salaries & Benefits $838,850

Fundraising Expenses $53,085

Program Expenses $1,510,414

Other Expenses $476,793

TOTAL EXPENSES $1,722,759

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,723,515	$589,396	+1.9%
Expenses	$1,722,759	$1,275,414	+0.4%
Net Income	$756	$-686,018	-1.0%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

$216,820

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
STEPHAN ABEL	PRESIDENT CEO	040.00	Officer	$177,019	$39,801	$216,820
TINA DAVENPORT	MEMBER	001.00	Director	$0	$0	$0
JAMES PERDUE	MEMBER	001.00	Director	$0	$0	$0
MICHAEL ROMAN	MEMBER	001.00	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	$1,723,515	$1,722,759	$152,181	$756
2022	$589,396	$1,275,414	$119,974	$-686,018
2021	$1,478,724	$723,819	$782,377	$754,905