Overview
What is Maine Aquaculture Innovation Center?
The Maine Aquaculture Innovation Center, situated in Walpole, Maine, is a nonprofit organization dedicated to enhancing the aquaculture industry's competitiveness. Their mission revolves around the development and commercialization of novel marketable species of finfish, shellfish, and sea vegetables. To achieve this, they focus on innovating technology to reduce industry costs. Moreover, they offer educational resources to contribute to the industry's growth. With a team of five dedicated individuals, the Center aims to support the sustainable development of Maine's aquaculture sector.
Official website here: www.maineaquaculture.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: Needs Improvement. The Maine Aquaculture Innovation Center holds a Two-Star out of Four Star rating with an overall score of 73%. This indicates that while some aspects of the organization are functioning well, there are significant areas requiring attention, particularly in financial transparency and accountability.
One of the strengths of the organization is its governance structure, characterized by an independent board with full compliance in areas such as board size and material diversion of assets. However, the center scored poorly in financial statement transparency, indicating that the financial reports may not be adequately shared or accessible to stakeholders, which raises concerns about accountability.
Additionally, the lack of a whistleblower policy and inadequate document retention processes are notable limitations, suggesting potential vulnerabilities in organizational governance. Despite these issues, the center demonstrates a strong commitment to program expenditure, which could indicate effective use of resources for its mission in aquaculture innovation.
This AI summary has been generated from information found on Charity Navigator.
Is Maine Aquaculture Innovation Center legitimate?
Maine Aquaculture Innovation Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Maine Aquaculture Innovation Center submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $72,800
Professional Fundraising Fees: $0
Other Salaries and Wages: $96,921
For more financial information, click here
Official website here: www.maineaquaculture.org
What is the mission statement of Maine Aquaculture Innovation Center?
The Maine Aquaculture Innovation Center's mission is centered around enhancing the competitive edge of the aquaculture industry. This is achieved by focusing on the development and commercialization of novel, marketable species of finfish, shellfish, and sea vegetables. The center strives to accomplish this by innovating technology to reduce industry costs. Additionally, they provide educational resources to further support this mission.
Official website here: www.maineaquaculture.org
Who is the CEO of Maine Aquaculture Innovation Center?
Christopher Davis Phd is the President of Maine Aquaculture Innovation Center.
Official website here: www.maineaquaculture.org
What is the revenue of Maine Aquaculture Innovation Center?
Maine Aquaculture Innovation Center's revenue in 2022 was $484,359.
Official website here: www.maineaquaculture.org
Who are the executives of Maine Aquaculture Innovation Center and what are their salaries?
The average compensation at Maine Aquaculture Innovation Center during 2022 was $33,944. There are 5 employees at Maine Aquaculture Innovation Center.
Here are 8 key members and their salaries:
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- Compensation: $72,800
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Official website here: www.maineaquaculture.org
Where can I find the form 990 for Maine Aquaculture Innovation Center?
Maine Aquaculture Innovation Center's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.maineaquaculture.org
Learn more at the official website: www.maineaquaculture.org
Mission Statement of Maine Aquaculture Innovation Center
The Maine Aquaculture Innovation Center, in its mission, aims to enhance the competitive edge of the aquaculture industry in the development and commercialization of novel marketable fish, shellfish, and sea vegetable species. This is accomplished through the creation of technology designed to reduce industry expenses. Furthermore, the center also prioritizes education, serving as a knowledge-sharing platform within this sector. By implementing these strategies, the Maine Aquaculture Innovation Center aims to contribute significantly to the growth and sustainability of the aquaculture industry.
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Impact
July, 2024
The Maine Aquaculture Innovation Center has made a significant impact on the aquaculture industry by focusing on developing and commercializing new marketable species of finfish, shellfish, and sea vegetables. Through their efforts to lower industry costs and provide education, the center has helped strengthen the competitive position of aquaculture businesses in Maine. By researching and implementing new technologies, the center contributes to the growth and sustainability of the aquaculture sector, ultimately benefiting the local economy and food supply chain.
This information is meant to be a general summary of Maine Aquaculture Innovation Center. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $515
- Gross Receipts: $567,043
Assets and Liabilities:
- Total Assets: $2,290,428
- Total Liabilities: $30,441
- Net Assets: $2,259,987
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Organization Details
Founding Year
1988
Phone
(207) 581-2263Principal Officer
Christopher Davis Phd
Main Address
193 CLARKS COVE RD, WALPOLE, ME, 04573
Website
www.maineaquaculture.orgNTEE Category
Code: K99Z - Food
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