Civic Intelligence

Atlantic Challenge Foundation Inc D/B/A the Apprenticeshop

990 • Fiscal year 2022 • EIN 22-3132234

Jan 01, 2022 to Dec 31, 2022 • Filed on Oct 02, 2023

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

84th percentile

0.39x

Higher debt load relative to assets than 84% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

85th percentile

0.47x

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

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

36th percentile

-0.2%

Higher net margin than 36% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

74th percentile

$64,792

Higher top officer pay than 74% of similar nonprofits.

Top officer pay equals 9.5% of source-year revenue.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Asset Growth

44th percentile

-0.4%

Faster asset growth than 44% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

38th percentile

-1.0%

Faster revenue growth than 38% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Down

$815,188

Down $3,516 (-0.4%) from 2021

Net Assets

Up

$495,104

Up $15,662 (+3.3%) from 2021

Liabilities

Down

$320,084

Down $19,178 (-5.7%) from 2021

Revenue

Down

$682,608

Down $6,862 (-1.0%) from 2021

Expenses

Up

$683,788

Up $73,906 (+12%) from 2021

Net Income

Down

-$1,180

Down $80,768 (-101%) from 2021

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

2022

Assets$815,188
Liabilities$320,084
Net Assets$495,104

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

2022

Revenue$682,608
Expenses$683,788
Net Income-$1,180
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Oct 2, 2023
Return Version
2022v5.0
Gross Receipts
$799,628
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.

The Apprenticeshop is a community that cultivates thinkers, makers, and doers through traditional boat building and seamanship to navigate an ever-changing world.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$394,235$384,479▼ $9,756
Cash and Non-Interest-Bearing Accounts$297,669$314,950▲ $17,281
Accounts Receivable$10,698$14,982▲ $4,284
Prepaid Expenses and Deferred Charges-$3,778-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$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$818,704$815,188▼ $3,516
Other Assets Total$116,102$96,999▼ $19,103
Liabilities
Mortgage Notes Payable Secured by Investment Property$286,841$269,034▼ $17,807
Deferred Revenue$31,110$41,417▲ $10,307
Other Liabilities$8,874$5,904▼ $2,970
Accounts Payable and Accrued Expenses$12,437$3,729▼ $8,708
Total Liabilities$339,262$320,084▼ $19,178
Net Assets / Fund Balance
Net Assets With Donor Restrictions$298,971$278,439▼ $20,532
Net Assets Without Donor Restrictions$180,471$216,665▲ $36,194
Total Net Assets Fund Balance$479,442$495,104▲ $15,662
Total Liabilities and Net Assets / Fund Balance$818,704$815,188▼ $3,516

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$304,742$1,025,717$1,330,459
Equipment$7,824$220,205$228,029
Land$70,991-$70,991
Other Land Buildings$922$3,028$3,950
Other Assets Org$96,999--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Isabella Zp FeracciExecutive DirectorFT$64,792$64,792

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$433,059
Program Service Revenue
$222,218
Investment Income
$8,069
Other Revenue
$19,262
All Other Contributions
$433,059
Change in Net Assets
$-1,180
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$429,145
Other Expenses$231,142
Grants and Similar Amounts Paid$23,501
Total Fundraising Expense$22,070
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$268,583$39,021-$307,604
Current Officers, Directors, Trustees, and Key Employees-$64,792-$64,792
Advertising$11,479-$22,070$33,549
Payroll Taxes$25,755$3,971-$29,726
Other Employee Benefits$27,023--$27,023
Office Expenses$18,048$7,735-$25,783
Depreciation Depletion$16,496$7,070-$23,566
Grants to Domestic Individuals$23,501--$23,501
Insurance$14,510$6,219-$20,729
Fees for Services Other$3,936$13,929-$17,865
Interest$15,111--$15,111
Other Expenses$6,881$8,875-$6,881
All Other Expenses$1,553$155-$1,708
Total Functional Expenses$509,951$151,767$22,070$683,788
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$5,902
Rounding$2
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 35% controlled entity
No
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, Section B, Line 11B

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

Form 990, Part VI, Section B, Line 12C

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, Section B, Line 15B

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, Section C, Line 19

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
Isabella Zp Feracci
Title
Executive Director
Signed
2023-10-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steve Anderson
Formed
1991
Legal Domicile
Me
Voting Board Members
14
Independent Board Members
13
Employees
21
Volunteers
30

Preparer

Firm
Toshie Ichiyanagi Tesler CPA
Address
PO BOX 1286, ROCKLAND, ME 04841
Preparer
Toshie Tesler
Phone
2075963595
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IRS990/GrossReceiptsAmt0799628
IRS990/GrossRentsGrp/PersonalAmt045008
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IRS990/InsuranceGrp/ManagementAndGeneralAmt06219
IRS990/InsuranceGrp/ProgramServicesAmt014510
IRS990/InsuranceGrp/TotalAmt020729
IRS990/IntangibleAssetsGrp/EOYAmt00
IRS990/InterestGrp/ProgramServicesAmt015111
IRS990/InterestGrp/TotalAmt015111
IRS990/InventoriesForSaleOrUseGrp/EOYAmt00
IRS990/InvestmentIncomeGrp/ExclusionAmt0-14431
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IRS990/LandBldgEquipCostOrOtherBssAmt01633429
IRS990/LegalDomicileStateCd0ME
IRS990/LessRentalExpensesGrp/PersonalAmt045008
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IRS990/MembersOrStockholdersInd0false
IRS990/MethodOfAccountingAccrualInd0X
IRS990/MinutesOfCommitteesInd0true
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IRS990/MissionDesc0The Apprenticeshop is a community that cultivates thinkers, makers, and doers through traditional boat building and seamanship to navigate an ever-changing world.
IRS990/MoreThan5000KToIndividualsInd0false
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IRS990/NoDonorRestrictionNetAssetsGrp/EOYAmt0216665
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IRS990/OccupancyGrp/TotalAmt00
IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt07735
IRS990/OfficeExpensesGrp/ProgramServicesAmt018048
IRS990/OfficeExpensesGrp/TotalAmt025783
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IRS990/Organization501c3Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt096999
IRS990/OtherEmployeeBenefitsGrp/ProgramServicesAmt027023
IRS990/OtherEmployeeBenefitsGrp/TotalAmt027023
IRS990/OtherExpensesGrp/Desc0DIRECT PROGRAM EXPENSES
IRS990/OtherExpensesGrp/Desc1FACILITIES
IRS990/OtherExpensesGrp/Desc2REPAIR & MAINTENANCE
IRS990/OtherExpensesGrp/Desc3EDUCATION & TRAINING
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt08875
IRS990/OtherExpensesGrp/ProgramServicesAmt047656
IRS990/OtherExpensesGrp/ProgramServicesAmt120708
IRS990/OtherExpensesGrp/ProgramServicesAmt28711
IRS990/OtherExpensesGrp/ProgramServicesAmt36881
IRS990/OtherExpensesGrp/TotalAmt047656
IRS990/OtherExpensesGrp/TotalAmt129583
IRS990/OtherExpensesGrp/TotalAmt28711
IRS990/OtherExpensesGrp/TotalAmt36881
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IRS990/OtherRevenueTotalAmt010188
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt039021
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0268583
IRS990/OtherSalariesAndWagesGrp/TotalAmt0307604
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IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt03971
IRS990/PayrollTaxesGrp/ProgramServicesAmt025755
IRS990/PayrollTaxesGrp/TotalAmt029726
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt03778
IRS990/PrincipalOfficerNm0STEVE ANDERSON
IRS990/PriorPeriodAdjustmentsAmt016842
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0611710
IRS990/ProgramServiceRevenueGrp/BusinessCd1611710
IRS990/ProgramServiceRevenueGrp/BusinessCd2611600
IRS990/ProgramServiceRevenueGrp/Desc0JR. APPRENTICESHIP
IRS990/ProgramServiceRevenueGrp/Desc1SAILING TUITION
IRS990/ProgramServiceRevenueGrp/Desc2SHOP TUITION
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt024404
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt181143
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt2116671
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt181143
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt2116671
IRS990/ProgSrvcAccomActy2Grp/Desc0Sailing youth and adult: From March through October we provide access to the water and our maritime heritage through sailing programs for ages 6 and up. Our programs include: a)Fall and spring High School Sailing; b)Fall Middle School Sailing; c)Youth Summer Sailing Camp, and d)Adult Sailing courses. No previous experience is required and all participants are given the opportunity to develop resilience, self-confidence and resourcefulness while building seamanship skills in a fun and supportive environment. With support from organizations and individuals, we strive to make all our programs accessible regardless of ability to pay.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt075921
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt081143
IRS990/ProgSrvcAccomActy3Grp/Desc0Jr. Apprenticeship: For local youth in middle and high school, we partner with school districts in the region to offer a Junior Apprenticeship. Students come to The Apprenticeshop during and after school to learn both traditional boatbuilding and seamanship. The centerpiece of the Jr. Apprenticeship is the construction of a traditional Portuguese sailing sardine carrier or Canoa da Picada. While Jr. Apprentices will practice a variety of skills, from shop safety, basic tool use and woodworking to knot tying and rowing, all of the students will contribute to some part of the construction of this large, multi-year project. As with all of our programs, the Jr. Apprenticeship requires collaboration and pushes young people to see what they are capable of, while building resilience, self-confidence, and resourcefulness in the process.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt064582
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt024404
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt0475494
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt026010
IRS990/PYInvestmentIncomeAmt018443
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt0205727
IRS990/PYOtherRevenueAmt0-13582
IRS990/PYProgramServiceRevenueAmt0209115
IRS990/PYRevenuesLessExpensesAmt079588
IRS990/PYSalariesCompEmpBnftPaidAmt0378145
IRS990/PYTotalExpensesAmt0609882
IRS990/PYTotalRevenueAmt0689470
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
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IRS990/ReconcilationRevenueExpnssAmt0-1180
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt0116671
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearAmt068930
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus1YearAmt040395
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus2YearsAmt085789
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus3YearsAmt085806
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/CurrentTaxYearMinus4YearsAmt098813
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt0405879
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt0361619
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0346167
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0301503
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt01848227
IRS990ScheduleA/GovtFurnSrvcFcltsVl509Grp/TotalAmt00
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearAmt0-14431
IRS990ScheduleA/GrossInvestmentIncome509Grp/CurrentTaxYearMinus1YearAmt018443

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