2023-05-15T12:10:06-05:00 2022-06-30 390758449 WIPFLI LLP 30 LONG CREEK DRIVE SOUTH PORTLAND ME 041062437 990 2021-07-01 010504905 GULF OF MAINE RESEARCH INSTITUTE GULF 2077722321 350 COMMERCIAL STREET PORTLAND ME 04101 DONALD W PERKINS JR PRESIDENT 2077722321 2023-05-12 1 DONALD PERKINS JR 999009999 JULIA HOWLAND CPA P01711658 2077745701 2023-05-12 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z DONALD W PERKINS JR 350 COMMERCIAL STREET PORTLAND ME 04101 16621243 0 X WWW.GMRI.ORG X 1994 ME THE GULF OF MAINE RESEARCH INSTITUTE (GMRI) PIONEERS COLLABORATIVE SOLUTIONS TO GLOBAL OCEAN CHALLENGES. 25 24 140 25 52971 60348 12182676 14796754 461826 379626 324856 146049 78621 167678 13047979 15490107 0 0 0 0 7479420 7818989 0 0 1772223 3964051 5247674 11443471 13066663 1604508 2423444 29423293 45327842 1817013 14973899 27606280 30353943 X THE GULF OF MAINE RESEARCH INSTITUTE (GMRI) DEVELOPS AND DELIVERS COLLABORATIVE SOLUTIONS TO GLOBAL OCEAN CHALLENGES. 1 0 3480710 14304 HANDS-ON SCIENCE LEARNING EXPERIENCES FOR STUDENTS AND ADULTS AND SUPPORT FOR MAINE'S SCIENCE EDUCATORS. 3544471 81205 RESEARCH THAT DEEPENS OUR SCIENTIFIC UNDERSTANDING OF THE GULF OF MAINE ECOSYSTEM AND ECONOMY. 2256921 234258 SUPPORT FOR THE COMMUNITIES THAT DEPEND ON THE GULF OF MAINE, INCLUDING FISHERMEN, AQUACULTURISTS, AND SEAFOOD SUPPLY CHAIN BUSINESSES. 896277 184595 GMRI PROVIDES PROPERTY MANAGEMENT SERVICES TO GMP, WHOSE PURPOSE IS TO SUPPORT GMRI, AND RECEIVES OTHER EXEMPT PURPOSE REVENUE WHICH SUPPORTS GMRI'S EXEMPT PURPOSE. GMRI ALSO PROVIDES PROPERTY MANAGEMENT SERVICES TO UW, A FOR-PROFIT SUBSIDIARY OF GMRI. 378166 GMRI SUPPORTS LOCAL, STATE, NATIONAL, AND GLOBAL CLIMATE ACTIONS TO HELP COASTAL COMMUNITIES THRIVE IN A WARMER WORLD. GMRI SUPPORTS CREATING, SCALING, AND INVESTING IN HIGH-IMPACT COMPANIES THAT ADVANCE GMRI'S NONPROFIT MISSION. 1274443 184595 10556545 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 0 1 81 0 1 140 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 25 24 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X X DONALD W PERKINS JR 2077722321 350 COMMERCIAL STREET PORTLAND ME 04101 ELIZABETH GREENLAW CHAIR 2.00 2.00 X X 0 0 0 JILL DUSON DIRECTOR 1.00 X 0 0 0 ERIC KOLBEN DIRECTOR 1.00 X 0 0 0 ABIGAL WARK DIRECTOR 1.00 X 0 0 0 CECILY PINGREE DIRECTOR 1.00 X 0 0 0 LUKE HOLDEN DIRECTOR 1.00 X 0 0 0 DONALD W PERKINS JR PRESIDENT/CEO 40.00 5.00 X X 577238 0 400580 ANNE OLIVIERO DIRECTOR 1.00 X 0 0 0 PAT PANAIA SECRETARY 2.00 2.00 X X 0 0 0 TRISH HIGGINS DIRECTOR 1.00 X 0 0 0 FRANK GOVERNALI TREASURER 2.00 2.00 X X 0 0 0 FRANK SIMON DIRECTOR 1.00 X 0 0 0 JEAN GULLIVER DIRECTOR 1.00 X 0 0 0 MICHAEL BONNEY VICE CHAIR 2.00 2.00 X X 0 0 0 PENNY NOYCE DIRECTOR 1.00 X 0 0 0 R SCOTT MAHONEY DIRECTOR 1.00 X 0 0 0 DENISE DESCHENES DIRECTOR 1.00 X 0 0 0 MARGARET ANGELL DIRECTOR 1.00 X 0 0 0 DAVID SMITH DIRECTOR 1.00 X 0 0 0 RICHARD MERRICK DIRECTOR 1.00 X 0 0 0 LISA HOOK DIRECTOR 1.00 X 0 0 0 RICK GANONG DIRECTOR 1.00 X 0 0 0 JULIA BRADY DIRECTOR 1.00 X 0 0 0 CHARLES E MILLER ESQ DIRECTOR 1.00 2.00 X 0 0 0 MATTHEW O'REILLY DIRECTOR 1.00 X 0 0 0 CHARISSA KERR CHIEF FINANCIAL OFFICER 40.00 X 135772 0 14717 MARGARET ROUDSARI CHIEF DEVELOPMENT OFFICER 40.00 X 169913 0 15453 AMY KIMBALL CHIEF OPERATING OFFICER UNTIL MAY 22 40.00 X 157791 0 1566 BLAINE GRIMES CHIEF VENTURES OFFICER 40.00 X 234116 0 27115 DAVID REIDMILLER CLIMATE CENTER DIRECTOR 40.00 X 148501 0 10412 LEIGH PEAKE CHIEF EDUCATION OFFICER 40.00 X 146916 0 26787 GRAHAM SHERWOOD RESEARCH SCIENTIST 40.00 X 141555 0 28000 JONATHAN LABAREE CHIEF COMMUNITY OFFICER 40.00 X 119127 0 25938 LISA KERR RESEARCH SCIENTIST 40.00 X 135706 0 26702 1966635 0 577270 11 0 1 0 UPSWELL 555 SE MLK BLVD SUITE 520 PORTLAND OR 97214 COHEN CENTER NEW PROGRAMMING AND OTHER S 231466 1 6848964 7947790 1326049 14796754 CONTRACT INCOME 541700 379626 379626 379626 162729 162729 654898 621956 32942 32942 52971 -20029 492500 509180 -16680 -16680 -16680 PROPERTY MANAGEMENT FEE & OTHER 900099 134736 134736 134736 15490107 514362 52971 126020 X 1476821 284724 993710 198387 4320782 3059913 666730 594139 217918 150583 42497 24838 1429165 839204 444341 145620 374303 254335 83489 36479 26779 18442 8337 82723 82723 2704444 2305580 302113 96751 269966 79130 130586 60250 27024 23193 3831 717959 717959 177819 106796 43748 27275 17637 13412 4225 21783 21783 262918 262918 83781 83781 OTHER SPECIAL COSTS 736626 742721 -7595 1500 STAFF DEVELOPMENT 31243 5998 21659 3586 BANK FEES 23640 23640 DUES AND SUBSCRIPTIONS 16016 4168 3379 8469 47316 2668346 -3195959 574929 13066663 10556545 737895 1772223 613833 1820482 5269004 6275658 3970879 3768694 1233627 1580964 50000 50000 77736 156586 19562690 2806878 4619431 16755812 10593065 10010157 -356583 1903487 3352301 3006002 29423293 45327842 1814483 2172392 43215 12741137 2530 17155 1817013 14973899 X 15017907 15989576 12588373 14364367 27606280 30353943 29423293 45327842 X 2423444 -1968848 2293066 X 0 1 X 1 1 1 X 4318764 13355257 15183247 12182676 14796754 59836698 4318764 13355257 15183247 12182676 14796754 59836698 3333082 56503616 68339 112444 148345 143435 167769 640332 62537 62537 60539567 2379405 0.93330 0.94960 X PART II, SECTION A AND SECTION B COLUMN (E) REPRESENTS THE AMOUNTS FOR FISCAL YEAR 06/30/2022. COLUMN (D) REPRESENTS THE AMOUNTS FOR FISCAL YEAR 06/30/2021. COLUMN (C) REPRESENTS THE AMOUNTS FOR FISCAL YEAR 06/30/2020. COLUMN (B) REPRESENTS THE AMOUNTS FOR FISCAL YEAR 06/30/2019. COLUMN (A) REPRESENTS THE AMOUNTS FOR SHORT YEAR JANUARY 2018 - JUNE 2018. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 45150 45150 0 PART II-B, LINE 1: PAID PINEAU POLICY ASSOCIATES FOR STATE OF MAINE LOBBYING. 10203962 1556179 -1474936 375372 9909833 6848441 1616576 2026808 287863 10203962 5872300 964793 281591 270243 6848441 4609382 1083108 410069 230259 5872300 4547374 208292 24892 171176 4609382 0.82000 0.18000 0 0 5340602 5340602 324057 116801 207256 1107309 921504 185805 12790722 1768573 11022149 16755812 ACCRUED INTEREST AND DIVIDEND RECEIVABLE 38089 BENEFICIAL INTEREST IN CHARITABLE REMAINDER TRUST 157740 BENEFICIAL INTEREST IN POOLED INVESTMENTS HELD BY OTHERS 2810173 3006002 SECURITY DEPOSIT 17155 17155 X 14595296 -1968848 452081 621956 -894811 15490107 0 15490107 13543810 452081 25067 477148 13066662 0 13066662 PART V, LINE 4: THE INTENDED USE OF THESE ENDOWMENT FUNDS IS FOR LONG-TERM INVESTMENT PURPOSES. THE INCOME IS TO BE USED TO HELP MEET THE OPERATING COSTS OF GMRI AND, IF NECESSARY, THE BALANCE IS TO PROVIDE A LAST-RESORT SOURCE OF FUNDS IN THE CASE OF SERIOUS FINANCIAL NEED. PART X, LINE 2: GMRI AND GMPINC HAVE BEEN DETERMINED TO BE EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAVE BOTH BEEN CLASSIFIED AS PUBLICLY SUPPORTED ORGANIZATIONS THAT ARE NOT PRIVATE FOUNDATIONS UNDER SECTION 509(A) OF THE CODE. THE INSTITUTE HAS DETERMINED THERE ARE NO AMOUNTS TO RECORD AS ASSETS OR LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS. THE INSTITUTE IS SUBJECT TO AUDIT UNDER THE STATUTE OF LIMITATIONS BY THE INTERNAL REVENUE SERVICE AND STATE TAXING AUTHORITIES FOR THREE YEARS AFTER THE FILING OF THE INSTITUTE'S RETURN. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 621,956. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 25,069. ROUNDING -2. PART V, LINE 1 COLUMN (A) REPRESENTS THE AMOUNTS FOR FISCAL YEAR 06/30/2022. COLUMN (B) REPRESENTS THE AMOUNTS FOR FISCAL YEAR 06/30/2021. COLUMN (C) REPRESENTS THE AMOUNTS FOR FISCAL YEAR 06/30/2020. COLUMN (D) REPRESENTS THE AMOUNTS FOR FISCAL YEAR 06/30/2019. COLUMN (E) REPRESENTS THE AMOUNTS FOR SHORT YEAR JANUARY 2018 - JUNE 2018. X X X X X X 0 1 0 1 0 0 0 1 0 DONALD W PERKINS JR PRESIDENT/CEO 346867 0 119976 0 110395 0 381980 0 18600 0 977818 0 144876 0 BLAINE GRIMES CHIEF VENTURES OFFICER 213758 0 20000 0 358 0 9346 0 17769 0 261231 0 0 0 MARGARET ROUDSARI CHIEF DEVELOPMENT OFFICER 134765 0 35000 0 148 0 7342 0 8111 0 185366 0 0 0 LEIGH PEAKE CHIEF EDUCATION OFFICER 142824 0 0 0 4092 0 9143 0 17644 0 173703 0 0 0 GRAHAM SHERWOOD RESEARCH SCIENTIST 141317 0 0 0 238 0 8340 0 19660 0 169555 0 0 0 LISA KERR RESEARCH SCIENTIST 135516 0 0 0 190 0 8569 0 18133 0 162408 0 0 0 AMY KIMBALL CHIEF OPERATING OFFICER UNTIL MAY 22 142645 0 13000 0 2146 0 0 0 1566 0 159357 0 0 0 DAVID REIDMILLER CLIMATE CENTER DIRECTOR 139841 0 8500 0 160 0 3029 0 7383 0 158913 0 0 0 CHARISSA KERR CHIEF FINANCIAL OFFICER 127437 0 8000 0 335 0 7991 0 6726 0 150489 0 0 0 PART I, LINE 3 WHEN NEGOTIATING THE PRESIDENT'S COMPENSATION, GMRI HAS USED A BOARD CEO COMPENSATION COMMITTEE, ADVICE FROM INDEPENDENT COMPENSATION CONSULTANTS REGARDING THE CEO COMPENSATION MARKET, INFORMATION FROM PEER ORGANIZATION 990S, AND A WRITTEN EMPLOYMENT AGREEMENT APPROVED BY GMRI'S BOARD OF DIRECTORS. PART I, LINE 4B DONALD PERKINS PARTICIPATES IN A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN UNDER SECTIONS 409 AND 457 OF THE INTERNAL REVENUE CODE WITH A TOTAL MAXIMUM OBLIGATION OF $800,000. ACCRUAL OF FUNDING FOR THIS PLAN BEGAN IN 2016 AS PART OF A FIVE-YEAR EMPLOYMENT CONTRACT. QUARTERLY PAYMENTS STARTED IN 2021 FOLLOWING COMPLETION OF THE EXECUTIVE'S FIVE-YEAR EMPLOYMENT COMMITMENT. FUNDING OF THIS PLAN WAS EXTENDED TO 2023 DUE TO THE EXECUTIVE'S AGREEMENT TO EXTEND HIS EMPLOYMENT THROUGH DECEMBER 2023. THE 2021 ENTRY FOR RETIREMENT AND OTHER DEFERRED COMPENSATION (SCHEDULE J) [PART 2 (C)] ($381,980) INCLUDES A ONE-TIME ACCRUAL OF $275,00O TO FUND THE SUPPLEMENTAL RETIREMENT PLAN THAT WILL BE FULLY FUNDED BY DECEMBER 2023. PART I, LINE 5 DONALD PERKINS HAS BEEN EMPLOYED AS GMRI'S PRESIDENT/CEO FOR 28 YEARS. GMRI COMPENSATES THIS EXECUTIVE THROUGH A COMBINATION OF BASE ANNUAL SALARY - PART 2(B)(I), ANNUAL PERFORMANCE BONUS - PART 2(B)(II), LONG-TERM PERFORMANCE BONUS - PART 2 (B)(III), A SUPPLEMENTAL RETIREMENT PLAN - PART 2 (C), AND 401K MATCHING CONTRIBUTION - PART 2 (D). ACCRUED DEFERRED INCENTIVE COMPENSATION FOR MEETING LONG-TERM FINANCIAL GOALS FROM 2015-2023, UNDER WHICH $39,880 WAS EARNED AND A PAYMENT OF $44,876 WAS MADE IN 2021. THE 2021 TOTAL ACCRUAL BALANCE TO SATISFY FUTURE OBLIGATIONS OF THE LONG TERM INCENTIVE PLAN WAS $230,013. PART I, LINE 7 DONALD PERKINS, BLAINE GRIMES, CHARISSA KERR, MARGARET ROUDSARI, AMY KIMBALL AND DAVID REIDMILLER RECEIVED BONUSES DURING THE YEAR, BASED ON THEIR PERFORMANCE THROUGHOUT THE YEAR. X 22 1326049 MARKET VALUE 0 1 1 PART I, LINE 32B: THE ORGANIZATION USES AN INVESTMENT FIRM TO SELL ANY STOCK CONTRIBUTIONS IT RECEIVES. FORM 990, PART III, LINE 2 DURING FY2022, GULF OF MAINE VENTURES, LLC (GOMV) WAS INCORPORATED BY ACTION OF THE GMRI BOARD, AS A WHOLLY-OWNED SINGLE MEMBER LIMITED LIABILITY COMPANY SUBSIDIARY OF GMRI UNDER THE LAWS OF THE STATE OF MAINE. DURING FY2022, UNION WHARF, LLC (UW) WAS INCORPORATED BY ACTION OF THE GMRI BOARD, AS A WHOLLY-OWNED SINGLE MEMBER LIMITED LIABILITY COMPANY SUBSIDIARY OF GMRI UNDER THE LAWS OF THE STATE OF MAINE. ON DECEMBER 29, 2021, THIS ENTITY PURCHASED THE PROPERTY LOCATED ON UNION WHARF AND ASSUMED OPERATIONS THEREOF. FORM 990, PART VI, SECTION A, LINE 4 MISSION WAS UPDATED AS OF 8/16/21: THE GULF OF MAINE RESEARCH INSTITUTE IS A NOT-FOR-PROFIT CORPORATION COMMITTED TO (I) FACILITATING AND CONDUCTING MARINE RESEARCH; (II) EDUCATING THE PUBLIC ABOUT THE OCEANS; (III) ENABLING INFORMED DECISIONS ABOUT THE STEWARDSHIP AND USE OF MARINE RESOURCES; (IV) SUPPORTING INVESTMENT IN MARINE COMMUNITIES; (IV) APPLYING LESSONS LEARNED IN THE GULF OF MAINE TO OTHER MARINE COMMUNITIES WORLDWIDE; AND, (VI) UNDERTAKING THE FINANCING, SITING, DESIGN, CONSTRUCTION AND OPERATION OF FACILITIES TO SUPPORT ITS EDUCATION, RESEARCH, AND COMMUNITY DEVELOPMENT INTERESTS. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS THE FOLLOWING REVIEW AND APPROVAL PROCESS: 1. 990 FILINGS ARE REVIEWED BY GMRI FINANCIAL STAFF. 2. COPIES OF 990 FILINGS ARE THEN PROVIDED TO THE PRESIDENT AND FINANCE COMMITTEE. 3. COPIES OF THE FINAL 990 FILING ARE PROVIDED TO THE ORGANIZATION'S DIRECTORS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C STAFF AND BOARD ARE MINDFUL OF THE POTENTIAL FOR CONFLICT OF INTEREST. IF ONE ARISES, WE DISCUSS AND ADDRESS THE ISSUE. ANNUALLY BOARD MEMBERS ARE PRESENTED WITH A DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15 STAFF AND EXTERNAL STAKEHOLDERS ARE ASKED TO GIVE INPUT ON THE PERFORMANCE OF THE PRESIDENT. THE INFORMATION IS THEN COMPILED AND THE RESULTS SUMMARIZED. THE CHAIRMAN OF THE BOARD COLLECTS ALL INPUTS AND REVIEWS THE RESULTS WITH THE EXECUTIVE COMMITTEE. ANNUALLY THE PRESIDENT AND CHIEF OPERATING OFFICER CONDUCT A REVIEW OF COMPENSATION OF KEY EMPLOYEES. PERIODICALLY EXTERNAL SURVEYS AND COMPARISONS ARE DONE BY AN INDEPENDENT COMPENSATION ADVISOR. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND POLICIES ARE AVAILABLE UPON REQUEST AT THE ORGANIZATION'S OFFICE. FINANCIAL STATEMENTS ARE AVAILABLE ON THE WEBSITE. FORM 990, PART IX, LINE 11G SUBCONTRACTED RESEARCH AND OTHER SERVICES: PROGRAM SERVICE EXPENSES 1,380,046. MANAGEMENT AND GENERAL EXPENSES 127,069. FUNDRAISING EXPENSES 53,751. TOTAL EXPENSES 1,560,866. OUTSIDE SERVICES: PROGRAM SERVICE EXPENSES 925,534. MANAGEMENT AND GENERAL EXPENSES 9,956. FUNDRAISING EXPENSES 43,000. TOTAL EXPENSES 978,490. RECEPTIONIST SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 165,088. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 165,088. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SUBSIDIARIES -640,929. TRANSFER OF ASSETS FROM GMP 32,995. INVESTMENT IN UNION WHARF AND GM VENTURES 2,901,000. FORM 990 - THROUGHOUT: REFERENCE TO GMPINC IS THE GULF OF MAINE PROPERTIES, INC., WHOSE NAME HAS BEEN SHORTENED ON THIS FORM IN ORDER TO FIT WITHIN THE SPACES PROVIDED. UNION WHARF LLC 350 COMMERCIAL STREET PORTLAND ME 04101 301287662 TO ACQUIRE, HOLD, MANAGE, DEVELOP, OR DISPOSE OF REAL PROPERTY ME 54364 12996999 GULF OF MAINE RESEARCH INSTITUTE GULF OF MAINE VENTURES LLC 350 COMMERCIAL STREET PORTLAND ME 04101 881765254 TO INVEST IN BLUE ECONOMY BUS-S TO SUPPORT RESILIENCE IN COASTAL COMMUNITIES ME 0 1000 GULF OF MAINE RESEARCH INSTITUTE GULF OF MAINE PROPERTIES INC 350 COMMERCIAL STREET PORTLAND ME 04101 201480528 SEE SCHEDULE R, PART VII ME 501(C)(3) LINE 12A, I GULF OF MAINE RESEARCH INSTITUTE 1 GULF OF MAINE PROPERTIES I A CONDOMINIUM 350 COMMERCIAL STREET PORTLAND ME 04101 352446323 CONDOMINIUM ASSOCIATION ME GULF OF MAINE PROPERTIES INC C 1.00000 1 GULF OF MAINE SASHIMI INC 350 COMMERCIAL STREET PORTLAND ME 04101 832833089 SALE OF SASHIMI GRADE FISH ME GULF OF MAINE RESEARCH INSTITUTE C -695295 648037 1.00000 1 0 1 0 1 1 0 0 0 0 0 1 1 0 0 0 0 1 0 1 GULF OF MAINE PROPERTIES INC K 718247 ACCOUNTING RECORDS GULF OF MAINE PROPERTIES INC L 97100 ACCOUNTING RECORDS UNION WHARF LLC L 34998 ACCOUNTING RECORDS GULF OF MAINE PROPERTIES INC D 2806408 BOOK VALUE GULF OF MAINE PROPERTIES INC (GUARANTOR) E 1000000 LINE OF CREDIT LMTS ($0 O/S) GULF OF MAINE PROPERTIES INC S 32995 BOOK VALUE UNION WHARF LLC B 2900000 FMV GULF OF MAINE VENTURES LLC B 1000 FMV SCHEDULE R, PART II, COLUMN B - GMP INC'S PRIMARY ACTIVITY TO ACQUIRE, HOLD, MANAGE, DEVELOP, OR DISPOSE OF REAL PROPERTY FOR THE BENEFIT OF AND IN CONNECTION WITH GMRI.