Sea Meadow Marine Foundation

Nonprofit profile at a glance

EIN
870873558
IRS 990 coverage
2021–2025
Forms available
Form 990 2025
Location
Yarmouth, ME, USA
Phone
2076506262
Rating
72
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Water Resource, Wetlands Conservation and Management

Official website

Reported finances

Revenue
$283,087
Expenses
$229,809
Assets
$2,758,427
Liabilities
$1,253,473

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Chadwick Strater (President)
  • Nick Planson (Vice-President)

People named in this filing

  • Chadwick Strater (President)
  • Nick Planson (Vice-President)
  • Austin Plaster (Secretary)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

The Sea Meadow Marine Foundation preserves Maine's working waterfront through a collaborative, sustainable approach to regenerate our coast, improve marine and public health, and protect our maritime heritage. We strive to integrate environmental science and educational opportunities into our support of the marine economy.

What it reported doing in 2025

The Sea Meadow Marine Foundation preserves Maine's working waterfront through a collaborative, sustainable approach to regenerate our coast, improve marine and public health, and protect our maritime heritage. Maine's coastal lands are under increasing pressure from real estate developers. Our primary goal is to preserve and maintain affordable access to the working waterfront for individuals and families who make their living from the sea. Our main program is leasing space/access to these groups.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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 - 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 92
  • Accountability: 62
  • Sustainability: 69
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 57%; rating input score 57
  • Program expense ratio: 68.3%; rating input score 68
  • Fundraising efficiency: $9.38 raised per $1 spent on fundraising; rating input score 36; 36th 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: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 22nd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 18.8%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 12; rating input score 91; 91st percentile among comparable filings
  • Liabilities to assets ratio: 0.45; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 51.3% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: 39.7% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 20.9% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 57% of revenue deployed · 68.3% of spending went to programs
  • Governance: 6 of 8 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $157K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 5 filing years from 2021 to 2025
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.

  • Review — Financial Efficiency: Mission deployment rate scored 57/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 36/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.