Global Seafood Assurances Inc
Nonprofit profile at a glance
- EIN
- 825387827
- IRS 990 coverage
- 2020–2020
- Forms available
- Form 990 2020, Form 990-EZ 2019
- Location
- Portsmouth, NH, USA
- Phone
- 6033175000
- Rating confidence
- Limited
- Sector
- Chambers of Commerce & Business Leagues
Reported finances
- Revenue
- $225,449
- Expenses
- $732,001
- Assets
- $39,922
- Liabilities
- $101,739
Source: IRS Form 990. Selected filing: tax year 2020. Amounts in USD.
Leadership & pay
7 people listed
Executive titles in this filing
- Wally Stevens (President & Executive Dire)
- William Herzig (Vice President)
Highest reported compensation
- Wally Stevens (President & Executive Dire): $223,852 total reported compensation
- William Clark (Treasurer/Secretary): $181,978 total reported compensation
- William Herzig (Vice President): $72,100 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2020. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
To provide credible assurances for wild-catch seafood to the marketplace that seafood is responsibly and sustainably harvested. This includes the full supply-chain assurances for sustainability, social responsibility, food safety, and animal health and welfare.
What it reported doing in 2020
GSA was established to meet marketplace expectations for assurances across the board in aquaculture and fisheries. Those assurances will flow from third-party certification programs that have been benchmarked by a combination of the Global Sustainable Seafood Initiative (GSSI), Global Food Safety Initiative (GFSI) and Global Social Compliance Programme (GSCP) and will address integrated assurances for environmental responsibility, social responsibility, food safety and animal welfare. GSA will be open to any certification program choosing to be a part of full supply-chain assurances for or wild-caught seafood. Fishery Improvement Projects (FIPs) and Aquaculture Improvement Projects (AIPs) will also be considered for representation.
Operating model
- Revenue model
- Earned-program. 79% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 47
- Accountability: 48
- Sustainability: 4
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
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: Scored; rating input score 0
- Grant itemization coverage: 0%; rating input score 0; 18th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 42.9%; rating input score 43; 14th percentile among comparable filings
- Governance controls: 5 of 9 controls in place; rating input score 56
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: Pass
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -224.7%; rating input score 1; 1st percentile among comparable filings
- Total-asset coverage ratio: 0.05; rating input score 3; 3rd percentile among comparable filings
- Liabilities to assets ratio: 2.55; rating input score 1; 1st percentile among comparable filings
- Officer compensation ratio: 21%; rating input score 22; 22nd percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 26.4% per year; rating input score 100; 93rd percentile among comparable filings
- Asset growth: 198.9% per year; rating input score 100; 100th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 3 of 7 board members independent · 5 of 9 filing controls reported
- Programs: 1 filed program accomplishment
- Leadership: top reported pay $224K · 7 people listed · 1 of 6 pay-setting controls reported
- Consistency: 9 of 9 current checks pass
- Schedules: 5 filed schedules · includes major donors, foreign activity, and executive pay
- Contacts: How to reach this organization
- Money network: 5 filed money-flow records
- Related organizations: 2 filed related-organization links
- 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.
- Moderate — Accountability: Independent voting board scored 43/100.
- High — Transparency & Controls: Foreign activity oversight scored 0/100.
- High — Transparency & Controls: Grant itemization coverage scored 0/100.
- Review — Accountability: Governance controls: 3 of 8 not reported.
- High — Sustainability: Operating margin scored 1/100.
- High — Sustainability: Total-asset coverage ratio scored 3/100.
- High — Sustainability: Liabilities to assets ratio scored 1/100.
- High — Sustainability: Officer compensation ratio scored 22/100.