Overview
What is Ferry Cove Shellfish Inc?
Ferry Cove Shellfish Inc is a Maryland-based organization, specifically located at 21770 Lowes Wharf Road, Sherwood, committed to the long-term sustainability of the commercial shellfish industry and the thriving Chesapeake Bay. They collaborate with scientists, watermen, business owners, and policymakers to address the current and future needs of this expanding industry. Their facility focuses on producing shellfish while also studying and implementing innovative techniques and processes to enhance the efficiency and cost-effectiveness of the aquaculture community within the Mid-Atlantic region. Ferry Cove Shellfish is an oyster hatchery that designs, promotes, and implements sustainable aquaculture-related activities.
Official website here: www.ferrycove.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% (Four-Star out of Four Stars)
Ferry Cove Shellfish Inc has achieved a commendable Four-Star rating from Charity Navigator, reflecting its strong commitment to accountability and finance. The charity's score is based entirely on its accountability and finance metrics, underscoring its transparency and responsible financial management. With a high score of 96%, it has demonstrated effective governance and adherence to best practices.
Organizational strengths include a fully independent board with 100% of members meeting independence criteria, which enhances decision-making and oversight. The charity also exhibits excellent financial stewardship, as evidenced by a material diversion of assets score of none and a robust program expense ratio of 86.52%, indicating that a significant majority of its expenses are directed towards its mission-driven programs.
While the rating highlights numerous strengths, it is essential for potential donors to consider that a high score in accountability and finance does not provide insight into the effectiveness of the charity's programs or their impact. As such, individuals may wish to seek additional information regarding the specific outcomes and services provided by Ferry Cove Shellfish Inc to gain a more comprehensive understanding of its overall effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Ferry Cove Shellfish Inc legitimate?
Ferry Cove Shellfish Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ferry Cove Shellfish Inc 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: $210,823
Professional Fundraising Fees: $0
Other Salaries and Wages: $359,566
For more financial information, click here
Official website here: www.ferrycove.org/
What is the mission statement of Ferry Cove Shellfish Inc?
Ferry Cove Shellfish Inc is dedicated to promoting sustainable activities within the oyster aquaculture industry. Their commitment extends to the long-term viability of the commercial shellfish sector and a thriving Chesapeake Bay. To achieve this, they collaborate with scientists, watermen, business owners, and policy makers to address current and future needs of the rapidly growing industry. Their facility focuses on producing shellfish while also studying, implementing, and demonstrating innovative techniques and processes to enhance the efficiency and cost-effectiveness of the aquaculture community throughout the Mid-Atlantic region.
Official website here: www.ferrycove.org/
Who is the CEO of Ferry Cove Shellfish Inc?
Stephan Abel is the President Ceo of Ferry Cove Shellfish Inc. The CEO's salary of Ferry Cove Shellfish Inc is $176,421 and their total compensation is $200,323.
Official website here: www.ferrycove.org/
What is the revenue of Ferry Cove Shellfish Inc?
Ferry Cove Shellfish Inc's revenue in 2022 was $589,396.
Official website here: www.ferrycove.org/
Who are the executives of Ferry Cove Shellfish Inc and what are their salaries?
The average compensation at Ferry Cove Shellfish Inc during 2022 was $81,484. There are 7 employees at Ferry Cove Shellfish Inc.
Here are 4 key members and their salaries (Ferry Cove Shellfish Inc's CEO's salary is $176,421 and their total compensation is $200,323):
- Compensation: $176,421
- Related: $0
- Other: $23,902
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.ferrycove.org/
Where can I find the form 990 for Ferry Cove Shellfish Inc?
Ferry Cove Shellfish Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.ferrycove.org/
Learn more at the official website: www.ferrycove.org/
Mission Statement of Ferry Cove Shellfish Inc
Ferry Cove Shellfish Inc is a dedicated oyster hatchery with a mission to promote and implement sustainable aquaculture practices. In their commitment to the long-term viability of the commercial shellfish industry and a thriving Chesapeake Bay, they collaborate with scientists, watermen, business owners, and policy makers to address the needs of this rapidly growing industry. Their facility serves as both a production site for shellfish and a research center for innovative techniques and processes aimed at enhancing the efficiency and cost-effectiveness of the aquaculture community in the Mid-Atlantic region. Ferry Cove Shellfish Inc is not just about business; they are passionate about advancing the industry through collaboration and the sharing of knowledge. Their dedication to sustainability is evident in their work, as they strive to ensure the health of the aquaculture industry and the environment it operates within. By fostering partnerships and implementing cutting-edge practices, Ferry Cove Shellfish Inc is leading the charge in the sustainable growth of the shellfish industry in the Mid-Atlantic region.
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Impact
July, 2024
Ferry Cove Shellfish Inc's impact lies in its dedication to advancing sustainable aquaculture practices within the commercial shellfish industry, particularly in the Chesapeake Bay region. By collaborating with scientists, watermen, business owners, and policymakers, they are actively working to address current and future needs of the industry. Their facility serves not only as a shellfish producer but also as a hub for studying, implementing, and demonstrating innovative techniques that enhance the efficiency and cost-effectiveness of aquaculture throughout the Mid-Atlantic region. This work not only supports the economic viability of the industry but also contributes to the overall health and thriving ecosystem of the Chesapeake Bay.
This information is meant to be a general summary of Ferry Cove Shellfish Inc. 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: $267,550
- Gross Receipts: $589,396
Assets and Liabilities:
- Total Assets: $119,974
- Total Liabilities: $25,389
- Net Assets: $94,585
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM REVENUE
Revenue
$267,550
Organization Details
Founding Year
2020
Phone
(410) 886-1006Principal Officer
Stephan Abel
Main Address
21770 LOWES WHARF ROAD, SHERWOOD, MD, 21665
Website
www.ferrycove.org/NTEE Category
Code: D33 - Animals
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