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← CENTRAL BERING SEA FISHERMENS ASSOCIATION

Form 990 for tax year 2023

Filed by CENTRAL BERING SEA FISHERMENS ASSOCIATION.

Totals

Total revenue
$17,448,332
Total expenses
$7,442,164
Contributions and grants received
$0
Grants paid
$753,230
Program service revenue
$7,038,617
Investment income
$6,661,656
Other revenue
$3,748,059
Total assets, end of year
$117,582,870
Total liabilities, end of year
$5,453,580
Net assets or fund balances, end of year
$112,129,290
Program services expenses (Part IX)
$2,794,971
Management and general expenses
$4,647,193
Fundraising expenses
$0
Program service expenses (Part III)
$2,794,971

Program services were 37.6% 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.

  • 2a · Program service revenue: FISHING ROYALTIES

    total $4,327,159 · excluded $4,327,159

  • 2b · Program service revenue: INVESTMENT IN FISHING PARTNERSHIP

    total $2,711,458 · related or exempt $2,711,458

  • 3 · Investment income

    total $6,661,656 · excluded $6,661,656

  • 10a · Gross sales of inventory

    $25,429,614

  • 10b · Cost of goods sold

    $21,681,555

  • 10c · Net income from sales of inventory

    total $3,748,059 · related or exempt $3,748,059

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $209,901 · program services $209,901

  • 2 · Grants to domestic individuals

    total $543,329 · program services $543,329

  • 5 · Compensation of officers, directors and key employees

    total $1,193,285 · management and general $1,193,285

  • 7 · Other salaries and wages

    total $957,801 · management and general $957,801

  • 11g · Fees: other

    total $70,585 · management and general $70,585

  • 13 · Office expenses

    total $159,018 · management and general $159,018

  • 16 · Occupancy

    total $206,132 · management and general $206,132

  • 17 · Travel

    total $25,163 · management and general $25,163

  • 19 · Conferences, conventions and meetings

    total $1,288,806 · program services $1,288,806

  • 20 · Interest

    total $163,722 · management and general $163,722

  • 22 · Depreciation, depletion and amortization

    total $456,484 · program services $443,276 · management and general $13,208

  • 23 · Insurance

    total $157,446 · management and general $157,446

  • 24a · Other expenses: RESEARCHERS, MATERIALS

    total $309,659 · program services $309,659

  • 24b · Other expenses: DUES, MEMBERSHIPS & LIC

    total $63,885 · management and general $63,885

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $7,935 · management and general $7,935

  • 24e · All other expenses

    total $1,629,013 · management and general $1,629,013

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $34,016,647 · end of year $22,567,683

  • 4 · Accounts receivable

    beginning of year $208,748 · end of year $1,858,916

  • 5 · Loans and receivables from officers and key people

    beginning of year $227,330 · end of year $268,082

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,246,253 · end of year $6,015,399

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

    $40,852,928

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

    $27,315,166

  • 10c · Land, buildings and equipment, net

    beginning of year $14,612,947 · end of year $13,537,762

  • 11 · Investments: publicly traded securities

    beginning of year $350,538 · end of year $350,222

  • 13 · Investments: program-related

    beginning of year $4,102,377 · end of year $3,613,900

  • 14 · Intangible assets

    beginning of year $13,857 · end of year $1,678

  • 15 · Other assets

    beginning of year $72,856,417 · end of year $69,369,228

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,422,316 · end of year $4,572,247

  • 23 · Secured mortgages and notes payable

    beginning of year $13,390,669 · end of year $0

  • 25 · Other liabilities

    beginning of year $834,369 · end of year $881,333

  • 27 · Net assets without donor restrictions

    beginning of year $114,987,760 · end of year $112,129,290

Mission and programs · 2023

Mission

CENTRAL BERING SEA FISHERMEN'S ASSOCIATION IS A NOT-FOR-PROFITCORPORATION ORGANIZED TO REPRESENT THE ST. PAUL ISLAND COMMUNITY INTHE COMMUNITY DEVELOPMENT QUOTA (CDQ) PROGRAM ESTABLISHED BY THEFEDERAL GOVERNMENT IN 1992. PROCEEDS RECEIVED FROM THE PROGRAM ARETO BE USED TO DEVELOP NATURAL AND HUMAN RESOURCES IN THE ST. PAULISLAND COMMUNITY AND TO PROMOTE EDUCATIONAL AND CHARITABLE BETTERMENTOF ITS MEMBERS.

Activities or mission (Part I)

TO REPRESENT THE ST PAUL ISLAND COMMUNITY DEVELOPMENT QUOTA (CDQ) (SEE SCHEDULE O)PROGRAM ESTABLISHED BY THE FEDERAL GOVERNMENT IN 1992.

  • FISHING:CBSFA ST. PAUL FISHING COMPANY, LLC - THIS PROGRAM DEVELOPSINFRASTRUCTURE AND INVESTMENTS IN PROJECTS THAT SUPPORT FISHERIESBASED IN ST. PAUL. EXPENSES RELATED TO THIS PROGRAM ARE INCLUDEDIN COST OF GOODS SOLD ON PART VIII.170 DEGREES WEST - THIS PROGRAM IS OPERATED TO MAXIMIZE THEEX-VESSEL PRICE PAID TO LOCAL FISHERMEN. 170 DEGREES WESTPURCHASES CDQ HALIBUT FROM THE LOCAL FLEET, THEN HAS IT CUSTOMPROCESSED THROUGH A NEGOTIATED CONTRACT WITH A LOCAL PROCESSOR.THE PRODUCT IS THEN MARKETED THROUGH A MARKETING AGREEMENT WITH ADISTRIBUTOR. NET REVENUE IS DISTRIBUTED TO THE LOCAL FLEETTHROUGH A RETROACTIVE EX-VESSEL PRICE ADJUSTMENT. REVENUE ANDEXPENSES RELATED TO THIS PROGRAM ARE INCLUDED IN SALES OFINVENTORY ON PART VIII.VEHICLE & EQUIPMENT OPERATIONS - THIS PROGRAM WAS FORMED TOMANAGE, MAINTAIN, AND OPERATE EQUIPMENT. ANNUALLY THE DEPARTMENTPUTS IN AND REMOVES THE DOCKS IN THE SMALL BOAT HARBOR. THEDEPARTMENT ALSO HELPS LOAD AND UNLOAD CONTAINER SHIPS THAT COME TOPORT. CBSFA HAS ACQUIRED NUMEROUS PIECES OF EQUIPMENT, MOSTNOTABLY A MANITOWOC CRANE AND A GROVE CRANE, TO SUPPORT ITSFISHING OPERATIONS. REVENUE AND EXPENSES RELATED TO THIS PROGRAMARE INCLUDED IN SALES OF INVENTORY ON PART VIII.

    Revenue $7,038,617

  • EDUCATION, OUTREACH & ASSISTANCE:THIS PROGRAM PROVIDES SCHOLARSHIPS, TRAINING GRANTS, AND STUDENTLOANS FOR THE RESIDENTS OF ST. PAUL ISLAND TO FURTHER THEIREDUCATION. IT FUNDS EDUCATIONAL PROGRAMS AND CURRICULUM PROVIDEDBY OTHER LOCAL ENTITIES. THIS PROGRAM ALSO PROVIDES OUTREACH TOTHE COMMUNITY OF ST. PAUL VIA NEWSLETTERS, RADIO ANNOUNCEMENTS,WEBSITE, COMMUNITY SURVEYS, AND ANNUAL MEETINGS. THE ASSISTANCEFUND PROVIDES FINANCIAL SUPPORT FOR COMMUNITY WELLNESS,BEREAVEMENT, AND LOCAL VOLUNTEER OPERATIONS. THE PROGRAM ALSOPROVIDES SUPPORT FOR THE TRIBAL GOVERNMENT OF ST. PAUL ISLANDPROGRAMS.

    Expenses $2,794,971 · Grants $753,231

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Myron Melovidov

    CHAIRMAN

    Total calculated
    $316,923
    From this org
    $240,233
    From related orgs
    $0
    Other
    $76,690
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,316
    Bonus
    $0
    Other
    $134,917
    Deferred
    $15,531
    Nontaxable benefits
    $61,159
    Filer's total
    $316,923

  • Phillip Lestenkof

    PRESIDENT

    Total calculated
    $458,850
    From this org
    $361,014
    From related orgs
    $0
    Other
    $97,836
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $278,985
    Bonus
    $0
    Other
    $82,029
    Deferred
    $54,743
    Nontaxable benefits
    $43,093
    Filer's total
    $458,850

  • Jeff Kauffman

    VICE PRESIDENT

    Total calculated
    $518,352
    From this org
    $418,014
    From related orgs
    $0
    Other
    $100,338
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $233,272
    Bonus
    $0
    Other
    $184,742
    Deferred
    $43,412
    Nontaxable benefits
    $56,926
    Filer's total
    $518,352

  • Rena Kudrin

    SECRETARY/TREASURER

    Total calculated
    $190,485
    From this org
    $110,829
    From related orgs
    $0
    Other
    $79,656
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,479
    Bonus
    $0
    Other
    $3,350
    Deferred
    $15,855
    Nontaxable benefits
    $63,801
    Filer's total
    $190,485

  • Jason Bourdukofsky Sr

    DIRECTOR

    Total calculated
    $4,600
    From this org
    $4,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Daniel Porath

    DIRECTOR

    Total calculated
    $64,005
    From this org
    $64,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • John Ricardo Merculief

    DIRECTOR

    Total calculated
    $175,308
    From this org
    $170,615
    From related orgs
    $0
    Other
    $4,693
    Hours/week
    2

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $170,615
    Deferred
    $0
    Nontaxable benefits
    $4,693
    Filer's total
    $175,308

  • Michael Baldwin

    DIRECTOR

    Total calculated
    $14,894
    From this org
    $8,622
    From related orgs
    $0
    Other
    $6,272
    Hours/week
    2

  • Amos Philemonoff

    DIRECTOR

    Total calculated
    $108,310
    From this org
    $108,310
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Constantine Kashevarof

    CHIEF FINANCIAL OFFICER

    Total calculated
    $298,988
    From this org
    $196,126
    From related orgs
    $0
    Other
    $102,862
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,126
    Bonus
    $0
    Other
    $0
    Deferred
    $38,931
    Nontaxable benefits
    $63,931
    Filer's total
    $298,988

  • Raymond Melovidov

    CHIEF OPERATING OFFICER

    Total calculated
    $399,086
    From this org
    $296,902
    From related orgs
    $0
    Other
    $102,184
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $249,105
    Bonus
    $0
    Other
    $47,797
    Deferred
    $44,483
    Nontaxable benefits
    $57,701
    Filer's total
    $399,086

  • Shiona Melovidov

    HR

    Total calculated
    $170,354
    From this org
    $119,173
    From related orgs
    $0
    Other
    $51,181
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $119,173
    Bonus
    $0
    Other
    $0
    Deferred
    $17,609
    Nontaxable benefits
    $33,572
    Filer's total
    $170,354

  • Jennifer Hausmann

    OFFICE MANAGER/ACCOUNTING

    Total calculated
    $196,887
    From this org
    $136,635
    From related orgs
    $0
    Other
    $60,252
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,635
    Bonus
    $0
    Other
    $0
    Deferred
    $20,228
    Nontaxable benefits
    $40,024
    Filer's total
    $196,887

  • Sean Head

    ANALYST/ACCOUNTANT

    Total calculated
    $185,752
    From this org
    $107,455
    From related orgs
    $0
    Other
    $78,297
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $107,455
    Bonus
    $0
    Other
    $0
    Deferred
    $28,283
    Nontaxable benefits
    $50,014
    Filer's total
    $185,752

  • Robert Melovidov

    MAINTENANCE/SPECIAL PROJECTS SUPVR

    Total calculated
    $163,829
    From this org
    $103,347
    From related orgs
    $0
    Other
    $60,482
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $103,347
    Bonus
    $0
    Other
    $0
    Deferred
    $15,236
    Nontaxable benefits
    $45,246
    Filer's total
    $163,829

  • Marisa Mack

    SENIOR ACCOUNTANT

    Total calculated
    $171,525
    From this org
    $105,328
    From related orgs
    $0
    Other
    $66,197
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $105,328
    Bonus
    $0
    Other
    $0
    Deferred
    $9,319
    Nontaxable benefits
    $56,878
    Filer's total
    $171,525

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
SCHEDULE J, PART I, LINE 1A COMPANY POLICY ALLOWS FOR FIRST CLASS AIRLINE TICKETS FOR TRAVEL BEYOND SEATTLE, WA.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • PRIBILOF SCHOOL DISTRICT

    $116,901

    GENERAL SUPPORT

  • TRIBAL GOVERNMENT OF ST PAUL ISLAND

    $51,000

    GENERAL SUPPORT

  • ST'S PETER & PAUL ORTHODOX CHURCH

    $35,000

    GENERAL SUPPORT

  • ALASKA BUSINESS DEVELOPMENT CENTER

    $7,000

    GENERAL SUPPORT

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.

  • 57 DEGREES NORTH LLC

    FISHERIES · AK · income $1,870,027 · assets $50,294,991

    Directly controlled by CBSFA

  • ST PAUL FISHING COMPANY LLC

    FISHERIES · AK · income $6,107,783 · assets $48,820,289

    Directly controlled by CBSFA

  • SAINT BOATS LLC

    FISHERIES · AK · income $509,448 · assets $5,196,367

    Directly controlled by SPFC

  • CENTRAL BERING SEA VESSELS LLC

    FISHERIES · AK · income $45,431 · assets $3,542,362

    Directly controlled by SPFC

  • 170 DEGREES WEST LLC

    FISHERIES · AK · income -$1,158,180 · assets $671,548

    Directly controlled by CBSFA

  • VILLAGE COVE SEAFOODS

    FISHERIES · AK · income $406,313 · assets $685,188

    Directly controlled by CBSFA

  • FV SAINT PAUL LLC

    FISHERIES · AK · income $377,237 · assets $2,420,872

    Directly controlled by ST BOATS LLC

  • FV SAINT PETER LLC

    FISHERIES · AK · income $509,353 · assets $2,934,391

    Directly controlled by ST BOATS LLC

  • CENTRAL BERING SEA HOLDINGS LLC

    HOLDINGS · AK · income $2,563,637 · assets $108,372,074

    Directly controlled by CBSFA

  • ADVENTURE LLC

    FISHERIES · AK · income $0 · assets $0

    Directly controlled by SPFC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • STAR PARTNERS LLC

    RELATED · FISHING · WA · 75% owned · share of income $1,221,613 · share of assets $1,783,364

    Directly controlled by SPFC

  • EARLY DAWN LLC

    RELATED · FISHING · WA · 83% owned · share of income $1,480,979 · share of assets $2,476,859

    Directly controlled by CBSFA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CENTRAL BERING SEA FISHERMEN'S CORP

    C · BOAT LOANS · AK · 100% owned · share of assets $1,254,519 · controlled entity

    Directly controlled by CBSFA

Provenance

Return type
form_990
Tax year
2023
Filed
9 September 2024
IRS schema version
2023v5.1
Source object
202412559349301251

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