Civic Intelligence

Atlantic Challenge Foundation Inc D/B/A the Apprenticeshop

990 • Fiscal year 2018 • EIN 22-3132234

Jan 01, 2018 to Dec 31, 2018 • Filed on Sep 11, 2019

655 Main StreetRockland, ME 04841

(207) 594-1800

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

85th percentile

0.50x

Higher debt load relative to assets than 85% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Liabilities / Revenue

88th percentile

0.73x

Higher debt load relative to revenue than 88% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Net Margin

24th percentile

-7.2%

Higher net margin than 24% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Top Officer Pay

58th percentile

$32,308

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 6.1% of source-year revenue.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2018

Asset Growth

26th percentile

-5.4%

Faster asset growth than 26% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Revenue Growth

28th percentile

-7.0%

Faster revenue growth than 28% of similar nonprofits.

2018 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2017 to 2018

Assets

Down

$776,915

Down $44,705 (-5.4%) from 2017

Net Assets

Up

$391,794

Up $4,841 (+1.3%) from 2017

Liabilities

Down

$385,121

Down $49,546 (-11%) from 2017

Revenue

Down

$526,297

Down $39,728 (-7.0%) from 2017

Expenses

Up

$564,063

Up $26,773 (+5.0%) from 2017

Net Income

Down

-$37,766

Down $66,501 (-231%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $1,354,698Liabilities 2010: $1,222,706Net Assets 2010: $131,9922010Assets 2011: $1,917,216Liabilities 2011: $1,118,700Net Assets 2011: $798,5162011Assets 2012: $1,697,890Liabilities 2012: $926,289Net Assets 2012: $771,6012012Assets 2013: $1,510,329Liabilities 2013: $786,151Net Assets 2013: $724,1782013Assets 2014: $1,358,354Liabilities 2014: $869,640Net Assets 2014: $488,7142014Assets 2015: $888,516Liabilities 2015: $499,621Net Assets 2015: $388,8952015Assets 2016: $799,794Liabilities 2016: $441,576Net Assets 2016: $358,2182016Assets 2017: $821,620Liabilities 2017: $434,667Net Assets 2017: $386,9532017Assets 2018: $776,915Liabilities 2018: $385,121Net Assets 2018: $391,7942018Assets 2019: $684,170Liabilities 2019: $333,776Net Assets 2019: $350,3942019Assets 2020: $710,011Liabilities 2020: $327,199Net Assets 2020: $382,8122020Assets 2021: $818,704Liabilities 2021: $339,262Net Assets 2021: $479,4422021Assets 2022: $815,188Liabilities 2022: $320,084Net Assets 2022: $495,1042022Assets 2023: $707,313Liabilities 2023: $269,449Net Assets 2023: $437,8642023Assets 2024: $746,164Liabilities 2024: $235,698Net Assets 2024: $510,4662024

Highlighted filing

2018

Assets$776,915
Liabilities$385,121
Net Assets$391,794

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KExpenses 2010: $603,6422010Revenue 2011: $1,358,727Expenses 2011: $692,203Net Income 2011: $666,5242011Expenses 2012: $602,4842012Revenue 2013: $550,260Expenses 2013: $597,683Net Income 2013: -$47,4232013Revenue 2014: $400,334Expenses 2014: $635,800Net Income 2014: -$235,4662014Revenue 2015: $389,818Expenses 2015: $504,637Net Income 2015: -$114,8192015Revenue 2016: $422,122Expenses 2016: $453,537Net Income 2016: -$31,4152016Revenue 2017: $566,025Expenses 2017: $537,290Net Income 2017: $28,7352017Revenue 2018: $526,297Expenses 2018: $564,063Net Income 2018: -$37,7662018Revenue 2019: $514,634Expenses 2019: $576,857Net Income 2019: -$62,2232019Revenue 2020: $560,576Expenses 2020: $527,025Net Income 2020: $33,5512020Revenue 2021: $689,470Expenses 2021: $609,882Net Income 2021: $79,5882021Revenue 2022: $682,608Expenses 2022: $683,788Net Income 2022: -$1,1802022Revenue 2023: $616,463Expenses 2023: $690,927Net Income 2023: -$74,4642023Revenue 2024: $733,417Expenses 2024: $682,497Net Income 2024: $50,9202024

Highlighted filing

2018

Revenue$526,297
Expenses$564,063
Net Income-$37,766
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Dec 31, 2018
Signed
Sep 11, 2019
Return Version
2018v3.1
Gross Receipts
$610,490
Mission and Program Overview

Mission

The Apprenticeshop is a school for traditional boatbuilding and seamanship with a mission to inspire personal growth through craftsmanship, community service and traditions of the sea.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$478,392$455,884▼ $22,508
Cash and Non-Interest-Bearing Accounts$80,850$101,157▲ $20,307
Accounts Receivable$101,173$77,644▼ $23,529
Pledges and Grants Receivable$75,228$55,628▼ $19,600
Prepaid Expenses and Deferred Charges$200$200→ $0
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$821,620$776,915▼ $44,705
Other Assets Total$85,777$86,402▲ $625
Liabilities
Mortgage Notes Payable Secured by Investment Property$384,283$343,147▼ $41,136
Deferred Revenue$34,610$36,196▲ $1,586
Accounts Payable and Accrued Expenses$15,774$3,646▼ $12,128
Other Liabilities-$2,132-
Total Liabilities$434,667$385,121▼ $49,546
Net Assets / Fund Balance
Unrestricted Net Assets$151,783$192,066▲ $40,283
Temporarily Rstr Net Assets$149,393$113,326▼ $36,067
Permanently Rstr Net Assets$85,777$86,402▲ $625
Total Net Assets Fund Balance$386,953$391,794▲ $4,841
Total Liabilities and Net Assets / Fund Balance$821,620$776,915▼ $44,705

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$321,234$978,025$1,299,259
Equipment$64,650$219,404$284,054
Land$70,000-$70,000
Other Assets Org$86,402--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Isabella Zp FeracciExecutive DirectorPT$32,308$32,308
Tatiana Pertzoff FischerDirector-$4,701$4,701

Board Members and Trustees

NameTitle
Molly MulhernChairwoman
Jim CuthbertsonVice Chair
Thomas R MooreVice Chair
Corey BelcherDirector
Evelyn AnselDirector
Francis I BlairDirector
Jan LethDirector
Julian D FischerDirector
Robert JohnstonDirector
Joseph SteinbergerSecretary
Paul CosterTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$301,503
Program Service Revenue
$225,480
Investment Income
$3,342
Other Revenue
$-4,028
All Other Contributions
$301,503
Change in Net Assets
$-37,766
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$297,103
Other Expenses$266,960
Total Fundraising Expense$2,860
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$181,398$39,409-$220,807
Fees for Services Other$31,141$18,867$180$50,188
Current Officers, Directors, Trustees, and Key Employees-$37,009-$37,009
Depreciation Depletion$24,408$10,460-$34,868
Occupancy$19,522$8,367-$27,889
Payroll Taxes$15,377$5,486-$20,863
Interest$18,300$478-$18,778
Other Employee Benefits$18,424--$18,424
Insurance$12,501$5,357-$17,858
Office Expenses$11,978$3,423$1,711$17,112
Advertising$6,786$1,939$969$9,694
Other Expenses$9,274$2,998-$9,274
Conferences and Meetings$433$186-$619
Total Functional Expenses$427,224$133,979$2,860$564,063
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Payroll Taxes$2,132
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

Two board members are related by marriage.

Form 990, Part VI, Line 11B: Form 990 Review Process

The 990 is reviewed by the treasurer and then shared with all directors prior to filling.

Form 990, Part VI, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

Board members and key employees are required to disclose conflicts of interest to the board when applicable and abstain from voting. Formal conflict of interest and whistleblower policies are in place.

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

Salaries are determined by comparison to industry standards and qualifications of the individual. Salaries are approved and reviewed annually by the executive committee of the board.

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

Tax returns are provided upon request to the public.

Filing and Contact Details

Filer

Filer Name
Atlantic Challenge Foundation Inc
EIN
22-3132234
Phone
2075941800
Address
655 MAIN STREET, ROCKLAND, ME 04841

Signing Officer

Name
Jim Cuthbertson
Title
Vice Chair
Signed
2019-09-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jim Cuthbertson
Formed
1991
Legal Domicile
Me
Voting Board Members
11
Independent Board Members
9
Employees
8
Volunteers
12

Preparer

Firm
Toshie Ichiyanagi Tesler CPA
Address
PO BOX 1286, ROCKLAND, ME 04841
Preparer
Toshie Tesler
Phone
2075963595
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IRS990/InterestGrp/ManagementAndGeneralAmt0478
IRS990/InterestGrp/ProgramServicesAmt018300
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IRS990/IRPDocumentCnt025
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IRS990/LandBldgEquipBasisNetGrp/EOYAmt0455884
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
IRS990/MinutesOfGoverningBodyInd0true
IRS990/MissionDesc0The Apprenticeshop is a school for traditional boatbuilding and seamanship with a mission to inspire personal growth through craftsmanship, community service and traditions of the sea.
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IRS990/MoreThan5000KToOrgInd0false
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IRS990/NetIncomeFromGamingGrp/TotalRevenueColumnAmt00
IRS990/NetIncomeOrLossGrp/RelatedOrExemptFuncIncomeAmt0-8659
IRS990/NetIncomeOrLossGrp/TotalRevenueColumnAmt0-8659
IRS990/NetRentalIncomeOrLossGrp/TotalRevenueColumnAmt00
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IRS990/OccupancyGrp/ManagementAndGeneralAmt08367
IRS990/OccupancyGrp/ProgramServicesAmt019522
IRS990/OccupancyGrp/TotalAmt027889
IRS990/OfficeExpensesGrp/FundraisingAmt01711
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt03423
IRS990/OfficeExpensesGrp/ProgramServicesAmt011978
IRS990/OfficeExpensesGrp/TotalAmt017112
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IRS990/OnBehalfOfIssuerInd0false
IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OrgFiledInLieuOfForm1041Ind0false
IRS990/OtherAssetsTotalGrp/BOYAmt085777
IRS990/OtherAssetsTotalGrp/EOYAmt086402
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt018424
IRS990/OtherEmployeeBenefitsGrp/TotalAmt018424
IRS990/OtherExpensesGrp/Desc0SAILING PROGRAM EXPENSES
IRS990/OtherExpensesGrp/Desc1BOATBUILDING PROGRAM EXPENSES
IRS990/OtherExpensesGrp/Desc2WORKER'S COMP
IRS990/OtherExpensesGrp/Desc3REPAIR & MAINTENANCE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt02998
IRS990/OtherExpensesGrp/ProgramServicesAmt048811
IRS990/OtherExpensesGrp/ProgramServicesAmt121875
IRS990/OtherExpensesGrp/ProgramServicesAmt26996
IRS990/OtherExpensesGrp/ProgramServicesAmt39274
IRS990/OtherExpensesGrp/TotalAmt048811
IRS990/OtherExpensesGrp/TotalAmt121875
IRS990/OtherExpensesGrp/TotalAmt29994
IRS990/OtherExpensesGrp/TotalAmt39274
IRS990/OtherLiabilitiesGrp/EOYAmt02132
IRS990/OtherRevenueMiscGrp/Desc0OTHER
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt039409
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0181398
IRS990/OtherSalariesAndWagesGrp/TotalAmt0220807
IRS990/OthNotesLoansReceivableNetGrp/EOYAmt00
IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt05486
IRS990/PayrollTaxesGrp/ProgramServicesAmt015377
IRS990/PayrollTaxesGrp/TotalAmt020863
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt085777
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt086402
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt055628
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/BOYAmt0200
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0200
IRS990/PrincipalOfficerNm0JIM CUTHBERTSON
IRS990/PriorPeriodAdjustmentsAmt042607
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0900099
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611600
IRS990/ProgramServiceRevenueGrp/Desc0OTHER PROGRAM REVENUE
IRS990/ProgramServiceRevenueGrp/Desc1SAILING TUITION
IRS990/ProgramServiceRevenueGrp/Desc2SHOP TUITION
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt014040
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt180259
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2131181
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt180259
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2131181
IRS990/ProgSrvcAccomActy2Grp/Desc0Sailing and other waterborne educational programs provide opportunities for local youth and adults to develop skills that connect our community to the maritime heritage of midcoast Maine. The process of acquiring these skills promotes and develops confidence, competence, and resourcefulness in our students.The staff are experienced and trained for the goals of each individual program, with junior staff apprenticing to senior staff while teaching novice students. Programs run from Appril to October, and include collaborations with local schools and afterschool programs, and other agencies. It is our goal that all particepants be able to attend regardless of their own financial circumstances. Scholarships and other support provided by local contributors as well as a growing endowment help ensure this is possible.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0128167
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt080259
IRS990/ProhibitedTaxShelterTransInd0false
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IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt020148
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0281797
IRS990/PYOtherRevenueAmt035904
IRS990/PYProgramServiceRevenueAmt0201157
IRS990/PYRevenuesLessExpensesAmt028735
IRS990/PYSalariesCompEmpBnftPaidAmt0255493
IRS990/PYTotalExpensesAmt0537290
IRS990/PYTotalRevenueAmt0566025
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt0-37766
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0145221
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt093236
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt0107433
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt058000
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt0166673
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt0524155
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt0301503
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0308816
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0283739
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0222689
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0281871
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01398618
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt03342
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt010498
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus2YearsAmt046
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus4YearsAmt0636
IRS990ScheduleA/GrossInvestmentIncome509Grp/TotalAmt014522
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt0248174

Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.75$0.24$0.51$0.73$0.68$0.05
2023Detailed filing. Detailed filing data is available for this year.$0.71$0.27$0.44$0.62$0.69$0.07
2022Detailed filing. Detailed filing data is available for this year.$0.82$0.32$0.50$0.68$0.68$0.00
2021Detailed filing. Detailed filing data is available for this year.$0.82$0.34$0.48$0.69$0.61$0.08
2020Detailed filing. Detailed filing data is available for this year.$0.71$0.33$0.38$0.56$0.53$0.03
2019Detailed filing. Detailed filing data is available for this year.$0.68$0.33$0.35$0.51$0.58$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.78$0.39$0.39$0.53$0.56$0.04
2017Detailed filing. Detailed filing data is available for this year.$0.82$0.43$0.39$0.57$0.54$0.03
2016Detailed filing. Detailed filing data is available for this year.$0.80$0.44$0.36$0.42$0.45$0.03
2015Detailed filing. Detailed filing data is available for this year.$0.89$0.50$0.39$0.39$0.50$0.11
2014Detailed filing. Detailed filing data is available for this year.$1.36$0.87$0.49$0.40$0.64$0.24
2013Detailed filing. Detailed filing data is available for this year.$1.51$0.79$0.72$0.55$0.60$0.05
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.70$0.93$0.77$0.60
2011Summary only. Only limited summary data is available for this year.$1.92$1.12$0.80$1.36$0.69$0.67
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$1.22$0.13$0.60