Overview
What is Inter-Cooperative Exchange?
Inter-Cooperative Exchange is a nonprofit organization situated in Bothell, Washington. Their primary focus lies in the crab industry, where they monitor market prices, provide regular updates to their members, and negotiate agreements between crab harvesters and processors. They also conduct market analysis of various crab species and analyze import/export statistics. In addition, they represent their members in arbitration proceedings for price disputes and host meetings. To boost market sustainability and create new opportunities, Inter-Cooperative Exchange engages in marketing efforts. Moreover, they allocate individual fishing quotas under the Bering Sea/Aleutian Island Crab rationalization program. With a small team of one employee, Inter-Cooperative Exchange is dedicated to ensuring the best deals for their crab-related cooperative members.
Is Inter-Cooperative Exchange legitimate?
Inter-Cooperative Exchange is a legitimate nonprofit organization registered as a 501(c)(5) entity. Inter-Cooperative Exchange 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $122,066
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What is the mission statement of Inter-Cooperative Exchange?
The Inter-Cooperative Exchange, as outlined in its mission, primarily serves to facilitate agreements between crab harvesters and processors. Beyond this, the organization conducts market analysis on various crab species and analyzes import and export statistics. They also host meetings for their cooperative members and represent them in arbitration proceedings. To add value to its members, the Inter-Cooperative Exchange engages in marketing efforts for crab products. Furthermore, it receives and allocates individual fishing quotas under the Bering Sea/Aleutian Island Crab rationalization program.
Who is the CEO of Inter-Cooperative Exchange?
Erling E Jacobsen is the Executive Director of Inter-Cooperative Exchange.
What is the revenue of Inter-Cooperative Exchange?
Inter-Cooperative Exchange's revenue in 2022 was $314,328.
Who are the executives of Inter-Cooperative Exchange and what are their salaries?
The average compensation at Inter-Cooperative Exchange during 2022 was $122,066. There is 1 employee at Inter-Cooperative Exchange.
Here are 14 key members and their salaries:
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Where can I find the form 990 for Inter-Cooperative Exchange?
Inter-Cooperative Exchange's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Inter-Cooperative Exchange
Inter-Cooperative Exchange, a nonprofit organization, plays a crucial role in the crab industry. Its mission is multi-faceted, aimed at benefiting crab harvesters and processors alike. Firstly, the organization negotiates agreements between these two groups, ensuring fair terms and fair prices for all parties involved. Secondly, Inter-Cooperative Exchange conducts market analysis on various crab species, providing valuable insights into supply and demand trends. This analysis enables its members to make informed decisions about their crab harvesting and processing activities.
Furthermore, the nonprofit analyzes import and export statistics for crab, keeping its members updated on international trade patterns. By doing so, Inter-Cooperative Exchange helps its members to stay competitive in the global market. Additionally, the organization hosts meetings for its coop members, fostering a sense of community and providing a platform for members to share their experiences and ideas.
In the event of disputes, Inter-Cooperative Exchange represents its members in arbitration proceedings, advocating for their interests and seeking resolutions that are fair and beneficial to all parties involved. The organization also enhances the value of crab products for its members through marketing efforts, promoting the high quality of their products and helping to secure new customers. Lastly, Inter-Cooperative Exchange receives and allocates individual fishing quota under the Bering Sea/Aleutian Island Crab rationalization program, ensuring that its members have the rights to harvest a fair share of the available crab resources.
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Impact
October, 2024
Inter-Cooperative Exchange significantly impacts the crab harvesting community by effectively negotiating agreements between crab harvesters and processors, ensuring fair prices and stable market conditions. Through regular market analysis, they provide members with vital updates on market prices and trends, enabling informed decision-making.
Their efforts in negotiating with crab processing companies have led to successful price negotiations, ultimately benefiting the financial stability of members. By representing members in binding arbitration for price disputes, they serve as an advocate for fair treatment in the marketplace.
Additionally, Inter-Cooperative Exchange plays a critical role in managing individual fishing quotas, distributing these resources among members to optimize harvest opportunities. Their commitment to engaging in marketing initiatives helps sustain existing markets while exploring new avenues for crab products, enhancing the overall value for cooperative members. The organization fosters a collaborative environment through regular meetings, ensuring that all members are informed and supported in their endeavors. Overall, Inter-Cooperative Exchange strengthens the crab industry’s framework, promoting economic resilience and supporting the livelihoods of its members.
This information is meant to be a general summary of Inter-Cooperative Exchange. 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.
- Program Service Revenue: $314,328
- Gross Receipts: $314,328
Assets and Liabilities:
- Total Assets: $497,369
- Total Liabilities: $9,108
- Net Assets: $488,261
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Membership Dues & Assessments
Revenue
$314,328
Organization Details
Founding Year
2006
Phone
(360) 399-1118Principal Officer
Erling E Jacobsen
Main Address
23929 22nd Dr SE, Bothell, WA, 98021
NTEE Category
Code: K28 - Food
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