Cape Ann Fisheries Development Corporation C/O Massdevelopment

“Massachusetts development finance agency ("mdfa") oversees management services for cape ann including providing necessary staff and administrative support. Ricks frazier, clerk, and gary stuart walker, treasurer, are compensated by mdfa for calendar year 2020. Cape ann pays mdfa a management fee that covers time spent by certain mdfa employees. The compensation from mdfa to gary and ricks is for their overall services to mdfa and its affiliates. There is no specific compensation allocated to services provided to the organization.”

“Cape ann fisheries development corporation ("cape ann") is a 501(c)(25) title holding corporation. Its sole beneficiary when formed was the massachusetts government land bank which merged to form mdfa. The organization has two members, mdfa and planning office for urban affairs, inc., an affiliate of the catholic archdiocese of boston.”

“There are 5 directors, 4 are appointed by members: massachusetts development finance agency has the power to appoint 2, planning office for urban affairs has the power to appoint 2, and 1 is a representative of the gloucester community appointed by the other 4 directors. At the end of this fiscal year, planning office for urban affairs had not yet replaced one of its appointees, leaving a vacancy on june 30.”

“Board member, william grogan (president) will review and approve the form 990 after it is prepared by an outside paid preparer. Once the form has been approved, it will be mailed to the remaining board members via certified receipt mail.”

“There are no compensated officers or key employees.”

“Forms 1024 and 990 are available for public inspection at the organization's office.”

“Certain governing documents, policies and financial statements are available to the public at the organiation's office.”