Ferry Cove Shellfish Inc

Nonprofit profile at a glance

EIN
844611271
IRS 990 coverage
2021–2025
Forms available
Form 990 2025, Form 990-N 2020
Location
Sherwood, MD, USA
Phone
4108861006
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fisheries Resources

Official website

Reported finances

Revenue
$3,025,657
Expenses
$3,102,007
Assets
$111,829
Liabilities
$112,878

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • STEPHAN ABEL (PRESIDENT &)

Highest reported compensation

  • STEPHAN ABEL (PRESIDENT &): $210,888 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Ferry cove shellfish, an oyster hatchery on Maryland's eastern shore, produces shellfish larvae and seed and develops new techniques to improve aquaculture efficiency and cost-effectiveness. Through its hatchery and production facilities, ferry cove's goal is to facilitate the growth and long-term viability of the commercial shellfish industry and promote a thriving chesapeake bay.

What it reported doing in 2025

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.

Operating model

Revenue model
Donor-supported. 70% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 70
  • Accountability: 95
  • Sustainability: 16
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.6%; rating input score 87
  • Program expense ratio: 84.5%; rating input score 84
  • Fundraising efficiency: $24.83 raised per $1 spent on fundraising; rating input score 65; 65th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.5%; rating input score 20; 20th percentile among comparable filings
  • Total-asset coverage ratio: 0.04; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 3; 3rd percentile among comparable filings
  • Officer compensation ratio: 6.8%; rating input score 46; 46th percentile among comparable filings

Growth

  • Program expense growth: 29.5% per year; rating input score 100; 91st percentile among comparable filings
  • Revenue growth: 24% per year; rating input score 100; 91st percentile among comparable filings
  • Asset growth: -54% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 86.6% of revenue deployed · 84.5% of spending went to programs
  • Governance: 3 of 3 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.6M in reported program spending
  • Leadership: top reported pay $211K · 4 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 32 of 32 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 5 filing years from 2021 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Sustainability: Operating margin scored 20/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • Review — Accountability: Governance controls: CEO compensation review process not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 3/100.
  • Moderate — Sustainability: Officer compensation ratio scored 46/100.