Nantucket Shellfish Association Inc

Nonprofit profile at a glance

EIN
061684351
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Nantucket, MA, USA
Phone
5083257753
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Engineering

Reported finances

Revenue
$419,352
Expenses
$390,951
Assets
$714,879
Liabilities
$24,053

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

21 people listed

Executive titles in this filing

  • BRUCE BENI (CO-PRESIDENT)
  • KEVIN KUESTER (CO-PRESIDENT)

Highest reported compensation

  • SAMANTHA DENETTE (EXECUTIVE DI): $60,000 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Research and education for the conservation and enhancement of shellfish populations in the waters off nantucket island.

What it reported doing in 2024

Shellfish propagation and management research

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 62% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 30
  • Transparency & Controls: 93
  • Accountability: 90
  • Sustainability: 49
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 27.8%; rating input score 28
  • Program expense ratio: 25.7%; rating input score 26
  • Fundraising efficiency: $16.57 raised per $1 spent on fundraising; rating input score 53; 53rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.8%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 1.83; rating input score 57; 57th percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 36; 36th percentile among comparable filings
  • Officer compensation ratio: 15.3%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 18.4% per year; rating input score 100; 83rd percentile among comparable filings
  • Revenue growth: 13.9% per year; rating input score 100; 80th percentile among comparable filings
  • Asset growth: 15% per year; rating input score 100; 77th percentile among comparable filings

Details

  • Where the money goes: 27.8% of revenue deployed · 25.7% of spending went to programs
  • Governance: 19 of 19 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $101K in reported program spending
  • Leadership: top reported pay $60K · 21 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 4 filed schedules · includes grants
  • Filing history: 3 filing years from 2022 to 2024
  • 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 — Financial Efficiency: Mission deployment rate scored 28/100.
  • High — Financial Efficiency: Program expense ratio scored 26/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 53/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Review — Sustainability: Operating margin scored 54/100.
  • Review — Sustainability: Total-asset coverage ratio scored 57/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 36/100.