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Nonprofiteer
← MARTHAS VINEYARD FISHERMENS PRESERVATION TRUST INC

Form 990 for tax year 2022

Filed by MARTHAS VINEYARD FISHERMENS PRESERVATION TRUST INC.

Totals

Total revenue
$388,741
Total expenses
$436,566
Contributions and grants received
$200,950
Grants paid
$0
Program service revenue
$147,227
Investment income
$1,577
Other revenue
$38,987
Total assets, end of year
$1,605,240
Total liabilities, end of year
$336,902
Net assets or fund balances, end of year
$1,268,338
Program services expenses (Part IX)
$293,294
Management and general expenses
$77,512
Fundraising expenses
$65,760
Program service expenses (Part III)
$293,294

Program services were 67.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $200,950

  • 2a · Program service revenue: MEET THE FLEET

    total $64,252 · related or exempt $64,252

  • 2b · Program service revenue: QUOTA LEASE

    total $44,475 · related or exempt $44,475

  • 2c · Program service revenue: FISHERIES REPRESENTATIVE FEES

    total $36,000 · related or exempt $36,000

  • 2d · Program service revenue: LOBSTER TAG SALES

    total $2,500 · related or exempt $2,500

  • 3 · Investment income

    total $1,577 · excluded $1,577

  • 10a · Gross sales of inventory

    $524,051

  • 10b · Cost of goods sold

    $485,064

  • 10c · Net income from sales of inventory

    total $38,987 · related or exempt $38,987

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $102,292 · program services $40,917 · management and general $20,458 · fundraising $40,917

  • 7 · Other salaries and wages

    total $180,461 · program services $137,659 · management and general $32,562 · fundraising $10,240

  • 10 · Payroll taxes

    total $10,312 · program services $6,513 · management and general $1,934 · fundraising $1,865

  • 11c · Fees: accounting

    total $10,382 · management and general $10,382

  • 11g · Fees: other

    total $4,893 · program services $3,090 · management and general $1,803

  • 12 · Advertising and promotion

    total $14,660 · program services $1,467 · management and general $455 · fundraising $12,738

  • 13 · Office expenses

    total $12,545 · program services $7,605 · management and general $4,940

  • 16 · Occupancy

    total $24,610 · program services $24,610

  • 20 · Interest

    total $10,038 · program services $10,038

  • 22 · Depreciation, depletion and amortization

    total $19,691 · program services $19,691

  • 23 · Insurance

    total $4,665 · program services $2,406 · management and general $2,259

  • 24a · Other expenses: OTHER PROGRAM EXPENSES

    total $14,312 · program services $14,312

  • 24b · Other expenses: VEHICLE EXPENSES

    total $9,885 · program services $9,885

  • 24c · Other expenses: MEET THE FLEET

    total $8,373 · program services $8,373

  • 24d · Other expenses: DOCUMENTARY

    total $6,168 · program services $6,168

  • 24e · All other expenses

    total $3,279 · program services $560 · management and general $2,719

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $423,364 · end of year $279,285

  • 3 · Pledges and grants receivable

    end of year $50,000

  • 4 · Accounts receivable

    beginning of year $13,279 · end of year $11,685

  • 5 · Loans and receivables from officers and key people

    beginning of year $3,750 · end of year $3,750

  • 7 · Other notes and loans receivable

    beginning of year $60,408 · end of year $68,157

  • 9 · Prepaid expenses and deferred charges

    beginning of year $130

  • 10a · Land, buildings and equipment: cost or other basis

    $208,779

  • 10b · Land, buildings and equipment: accumulated depreciation

    $33,487

  • 10c · Land, buildings and equipment, net

    beginning of year $182,240 · end of year $175,292

  • 14 · Intangible assets

    beginning of year $1,011,156 · end of year $1,011,156

  • 15 · Other assets

    beginning of year $5,915 · end of year $5,915

  • 17 · Accounts payable and accrued expenses

    beginning of year $53,094 · end of year $34,897

  • 24 · Unsecured notes and loans payable

    beginning of year $330,985 · end of year $302,005

  • 27 · Net assets without donor restrictions

    beginning of year $1,313,975 · end of year $1,213,548

  • 28 · Net assets with donor restrictions

    beginning of year $2,188 · end of year $54,790

Mission and programs · 2022

Mission

SAFEGUARDING MARTHA'S VINEYARD'S FISHING HERITAGE AND FUTURE BY SUPPORTING THE ISLAND'S SMALL-BOAT OWNER-OPERATED FISHING FLEETS AND THEIR SUSTAINABLY HARVESTED CATCH.

  • PERMIT AND QUOTA LEASING - MVFPT ACQUIRES FISHING PERMITS, QUOTAS AND LEASES AND SELLS THEM BACK TO LOCAL SMALL-BOAT, OWNER OPERATED FISHING FLEETS ON MARTHA'S VINEYARD AT BELOW MARKET RATES OR WITH CUSTOMIZED PAYMENT PLANS.

    Expenses $47,304 · Revenue $83,462

  • MAINTAIN MVSC WATERFRONT INFRASTRUCTURE NECESSARY TO BUY AND SELL SEAFOOD, OPERATE A WHOLESALE SEAFOOD MARKET THAT PROVIDE A SELLING OUTLET FOR LOCAL FISHERMEN AND THE ABILITY TO DONATE SEAFOOD TO LOCAL FOOD INSECURITY.

    Expenses $237,617 · Revenue $38,500

  • MEET THE FLEET - ANNUAL EVENT HELD TO DRAW ATTENTION TO AND FOSTER APPRECIATION FOR THE MARTHA'S VINEYARD FISHING COMMUNITY AND TO EDUCATE THE PUBLIC ON LOCAL SEAFOOD AND HOW IT IS CAUGHT/GROWN.

    Expenses $8,373 · Revenue $64,252

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Shelley Edmundson

    EXECUTIVE DI

    Total calculated
    $70,417
    From this org
    $70,417
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Emily Bramhall

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wesley Brighton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Katherine Carroll

    CLERK

    Total calculated
    $0
    Hours/week
    1

  • John Keene

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10

  • Matthew Mayhew

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Stanley Startzell

    TREASURER

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • VINEYARD FISH & FLEET - LLC

    ACQUIRE, H · MA

    Directly controlled by MVFPT

  • MARTHA'S VINEYARD SEAFOOD COLLABORATIVE LLC

    SEAFOOD · MA · income $525,254 · assets $188,289

    Directly controlled by MVFPT

Provenance

Return type
form_990
Tax year
2022
Filed
13 November 2023
IRS schema version
2022v5.0
Source object
202343199349314129

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