Civic Intelligence

Commercial Fisheries Research Foundation

EIN 86-1116341 • 501(c)3 • Saunderstown, RI

Profile

The Mission of the Commercial Fisheries Research Foundation (CFRF) is to support and conduct research that assists in the achievement of sustainable fisheries through the generation of better information and effective technologies for the benefit of individuals and businesses dependent on commercial fishing, consumers of seafood and the public good.

PO Box 278Saunderstown, RI 02874

www.cfrfoundation.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

62nd percentile

0.15x

Higher debt load relative to assets than 62% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Liabilities / Revenue

48th percentile

0.06x

Higher debt load relative to revenue than 48% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Net Margin

33rd percentile

-2.3%

Higher net margin than 33% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Top Officer Pay

86th percentile

$170,526

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 4.3% of source-year revenue.

501(c)3 • $1M-$5M nonprofits • Source year 2025

Asset Growth

24th percentile

-4.9%

Faster asset growth than 24% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Revenue Growth

16th percentile

-19%

Faster revenue growth than 16% of similar nonprofits.

501(c)3 • $1M-$5M nonprofits • Annualized from 2024 to 2025

Assets

Up

$1,701,449

Up $215,212 (+14%) from 2023

Liabilities

Down

$254,396

Down $59,165 (-19%) from 2023

Net Assets

Up

$1,447,053

Up $274,377 (+23%) from 2023

Revenue

Up

$3,922,479

Up $1,031,160 (+36%) from 2023

Expenses

Up

$4,014,299

Up $1,871,765 (+87%) from 2023

Net Income

Down

-$91,820

Down $840,605 (-112%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$2.0M$1.5M$1.0M$500K$0Assets 2010: $530,344Liabilities 2010: $508,257Net Assets 2010: $22,0872010Assets 2011: $332,978Liabilities 2011: $296,528Net Assets 2011: $36,4502011Assets 2012: $478,941Liabilities 2012: $181,032Net Assets 2012: $297,9092012Assets 2013: $431,343Liabilities 2013: $136,491Net Assets 2013: $294,8522013Assets 2014: $322,033Liabilities 2014: $47,725Net Assets 2014: $274,3082014Assets 2015: $319,804Liabilities 2015: $55,606Net Assets 2015: $264,1982015Assets 2016: $319,531Liabilities 2016: $65,153Net Assets 2016: $254,3782016Assets 2017: $393,294Liabilities 2017: $93,146Net Assets 2017: $300,1482017Assets 2018: $261,666Liabilities 2018: $56,217Net Assets 2018: $205,4492018Assets 2019: $386,058Liabilities 2019: $92,394Net Assets 2019: $293,6642019Assets 2020: $400,788Liabilities 2020: $90,190Net Assets 2020: $310,5982020Assets 2021: $720,507Liabilities 2021: $170,358Net Assets 2021: $550,1492021Assets 2022: $608,181Liabilities 2022: $184,290Net Assets 2022: $423,8912022Assets 2023: $1,486,237Liabilities 2023: $313,561Net Assets 2023: $1,172,6762023Assets 2025: $1,701,449Liabilities 2025: $254,396Net Assets 2025: $1,447,0532025

Highlighted filing

2025

Assets$1,701,449
Liabilities$254,396
Net Assets$1,447,053

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $2,449,2342010Revenue 2011: $2,093,843Expenses 2011: $2,079,480Net Income 2011: $14,3632011Expenses 2012: $1,455,6552012Expenses 2013: $1,138,3692013Revenue 2014: $697,264Expenses 2014: $717,808Net Income 2014: -$20,5442014Revenue 2015: $571,499Expenses 2015: $581,609Net Income 2015: -$10,1102015Revenue 2016: $384,259Expenses 2016: $394,079Net Income 2016: -$9,8202016Revenue 2017: $635,604Expenses 2017: $589,834Net Income 2017: $45,7702017Revenue 2018: $558,554Expenses 2018: $653,253Net Income 2018: -$94,6992018Revenue 2019: $814,600Expenses 2019: $726,385Net Income 2019: $88,2152019Revenue 2020: $617,555Expenses 2020: $600,621Net Income 2020: $16,9342020Revenue 2021: $1,596,979Expenses 2021: $1,357,428Net Income 2021: $239,5512021Revenue 2022: $1,827,254Expenses 2022: $1,953,512Net Income 2022: -$126,2582022Revenue 2023: $2,891,319Expenses 2023: $2,142,534Net Income 2023: $748,7852023Revenue 2025: $3,922,479Expenses 2025: $4,014,299Net Income 2025: -$91,8202025

Highlighted filing

2025

Revenue$3,922,479
Expenses$4,014,299
Net Income-$91,820

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.70$0.25$1.45$3.92$4.01$0.09
2023Summary only. Only limited summary data is available for this year.$1.49$0.31$1.17$2.89$2.14$0.75
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.61$0.18$0.42$1.83$1.95$0.13
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.72$0.17$0.55$1.60$1.36$0.24
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.40$0.09$0.31$0.62$0.60$0.02
2019Summary only. Only limited summary data is available for this year.$0.39$0.09$0.29$0.81$0.73$0.09
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.26$0.06$0.21$0.56$0.65$0.09
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.39$0.09$0.30$0.64$0.59$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.32$0.07$0.25$0.38$0.39$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.32$0.06$0.26$0.57$0.58$0.01
2014Summary only. Only limited summary data is available for this year.$0.32$0.05$0.27$0.70$0.72$0.02
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.43$0.14$0.29$1.14
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.48$0.18$0.30$1.46
2011Summary only. Only limited summary data is available for this year.$0.33$0.30$0.04$2.09$2.08$0.01
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.53$0.51$0.02$2.45
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Feb 2, 2026
Return Version
2024v5.2
Gross Receipts
$3,922,479
Mission and Program Overview

Mission

The mission of the commercial fisheries research foundation is to support and conduct research and education that assists in the achievement of sustainable fisheries through the generation of better information and effective technologies for the benefit

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$912,474$844,542▼ $67,932
Accounts Receivable$759,637$537,021▼ $222,616
Savings and Temporary Cash Investments$65,542$286,803▲ $221,261
Land, Buildings, and Equipment, Net$45,706$25,125▼ $20,581
Prepaid Expenses and Deferred Charges$6,618$7,958▲ $1,340
Total Assets$1,789,977$1,701,449▼ $88,528
Liabilities
Accounts Payable and Accrued Expenses$246,104$249,396▲ $3,292
Other Liabilities$5,000$5,000→ $0
Total Liabilities$251,104$254,396▲ $3,292
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,151,072$1,040,161▼ $110,911
Net Assets Without Donor Restrictions$387,801$406,892▲ $19,091
Total Net Assets Fund Balance$1,538,873$1,447,053▼ $91,820
Total Liabilities and Net Assets / Fund Balance$1,789,977$1,701,449▼ $88,528

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$3,065$39,754-
Leasehold Improvements$22,060$242,665-
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
N David Bethony--$160,526$18,526$179,052
N David BethonyExecutive DirectorFT$170,526-$170,526
Fred MatteraPresidentPT$10,000-$10,000

Board Members and Trustees

NameTitle
John KennedyVice-president
Chris RoebuckBoard Member
Donald FoxBoard Member
Jeff GrantBoard Member
Jon KnightBoard Member
Jonathan WilliamsBoard Member
Katie AlmeidaBoard Member
Mark SweitzerBoard Member
Michael MarchettiBoard Member
Chris LeeTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$3,915,951
Program Service Revenue
$0
Investment Income
$6,528
Other Revenue
$0
All Other Contributions
$3,104,700
Change in Net Assets
$-91,820

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,922,479
Revenue Not Reported on Form 990
$1,781
Total Revenue per Audited Statements
$3,924,260
Total Revenue per Form 990
$3,922,479
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,545,545
Salaries, Compensation, and Employee Benefits$1,468,754
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$2,180,225$1,624$0$2,181,849
Comp Disqual Persons$757,430$302,347$0$1,059,777
All Other Expenses$158,797$39,499$0$198,296
Current Officers, Directors, Trustees, and Key Employees$105,605$64,921$0$170,526
Payroll Taxes$73,641$31,052$0$104,693
Other Employee Benefits$0$75,637$0$75,637
Travel$56,176$7,076$0$63,252
Pension Plan Contributions$0$58,121$0$58,121
Insurance$8,082$17,883$0$25,965
Advertising$18,823$5,471$0$24,294
Depreciation Depletion$18,909$1,672$0$20,581
Fees for Services Accounting$0$18,000$0$18,000
Office Expenses$0$11,449$0$11,449
Fees for Services Legal$0$1,859$0$1,859
Total Functional Expenses$3,377,688$636,611$0$4,014,299

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$4,016,080
Expenses per Audited Statements$4,014,299
Total Expenses per Form 990$4,014,299
Expenses Not Reported on Form 990$1,781
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Fred MatteraBoard Member/officerResearch ServicesNo$10,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accounts Payable - Related Party$5,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
Yes
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
Filing and Contact Details

Filer

Filer Name
Commercial Fisheries Research Foundation
EIN
86-1116341
Phone
4015154662
Address
PO BOX 278, SAUNDERSTOWN, RI 02874

Signing Officer

Name
Fred Mattera
Title
President
Phone
4015154662
Signed
2026-02-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Fred Mattera
Formed
2004
Legal Domicile
Ri
Voting Board Members
11
Independent Board Members
11
Employees
18
Volunteers
0

Preparer

Firm
Golden Gormly & Company
Address
55 CHERRY LANE SUITE 2A, WAKEFIELD, RI 02879
Preparer
Brian P Gormly
Phone
4017831040
Supplemental Narrative

Additional Explanations

Pt VI, Line 11B

A copy of the form 990 is reviewed and approved by the executive committee prior to filing. A copy of the final form 990 is sent to all members of the board of directors prior to its filing.

Pt VI, Line 12C

The cfrf maintains a conflict of interest policy for its board members and staff. If a board member or staff member finds himself or herself in a potential conflict of interest situation that person is required to bring that matter to the attention of the full board of directors. The full board makes a determination if the situation is a conflict of interest and suggested resolution. If a board member is involved, the board member is required to recluse himself from any board decisions related to the situation. In the case of a staff member, at the time of hiring and throughout employment, staff members are expected to disclose any potential conflict of interest and appropriate action is taken to avoid having that person involved in such situations.

Pt VI, Line 15A

A yearly performance review is conducted on the anniversary of an employees date of hire. In the case of the executive director, members of the executive committee review his or her work performance, discuss any concerns and evaluate his or her performance. A written evaluation is completed and filed. Changes in compensation are then discussed.

Pt VI, Line 15B

A yearly performance review is conducted on the anniversary of an employees date of hire. In the case of other employees, the executive director and executive team of the board of directors meet with the employee, review his or her work performance, discuss concerns and any changes in the compensation package. Any changes in the compensation arrangements requires a review and vote from the full board of directors.

Form 990, Part III, Line 4D

The black sea bass research fleet, shelf research, 1221459. 0. 1333496.

Form 990, Part IX, Line 11G

Fishing vessel charges 1833190. 1831990. 1200. 0.

Form 990, Part IX, Line 11G

Project sub-contractors 342860. 342860. 0. 0.

Form 990, Part IX, Line 11G

Consultants and training 5799. 5375. 424. 0.

Raw XML AppendixShowing 400 of 490 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/MissionDesc0THE MISSION OF THE COMMERCIAL FISHERIES RESEARCH FOUNDATION IS TO SUPPORT AND CONDUCT RESEARCH AND EDUCATION THAT ASSISTS IN THE ACHIEVEMENT OF SUSTAINABLE FISHERIES THROUGH THE GENERATION OF BETTER INFORMATION AND EFFECTIVE TECHNOLOGIES FOR THE BENEFIT
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IRS990/ProgSrvcAccomActy2Grp/Desc0SUNRISE WIND TRAWL SURVEY IS A COLLABORATION BETWEEN CFRF AND THE UNIVERSITY OF MASSACHUSETTS DARTMOUTH SCHOOL FOR MARINE SCIENCE AND TECHNOLOGY AND LOCAL FISHERMEN. THE SURVEY IS DESIGNED TO ASSESS THE SEASONAL ABUNDANCE, DISTRIBUTION AND POPULATION STRUCTURE OF FISH IN THE REVOLUTION AND SUNRISE WIND LEASE AREAS PRIOR TO THE CONSTRUCTION OF THE REVOLUTION WIND FARM AND SUNRISE WIND FARM.
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IRS990/ProgSrvcAccomActy3Grp/Desc0CFRF IN PARTNERSHIP WITH LOCAL FISHERMEN ARE CONDUCTING PRE- CONSTRUCTION FISHERIES MONITORING SURVEYS OF THE SOUTH FORK OFFSHORE WIND FARM. IT INCLUDES UP TO 15 WIND TURBINE GENERATORS,SUBMARINE CABLES BETWEEN TURBINES AND OFFSHORE SUBSTATION. THE PROJECT AIMS TO COLLECT PRE-CONSTRUCTION DATA ON 1)THE ABUNDANCE,SIZE STRUCTURE, AND DISTRIBUTION OF MARINE SPECIES AND 2)OCEANOGRAPHIC DATA THAT CAN BE USED TO CHARACTERIZE THE CONDITIONS OF THE SOUTH FORK WIND FARM LEASE AREA.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE BLACK SEA BASS RESEARCH FLEET, SHELF RESEARCH, SEA SCALLOP PROGRAMS, SQUID JIGGING AND OTHER PROJECTS ARE MAINTAINED AND OVERSEEN BY CFRF THROUGHOUT THE YEAR.
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCOUNTS PAYABLE - RELATED PARTY
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0RESEARCH SERVICES
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE PRIOR TO FILING. A COPY OF THE FINAL FORM 990 IS SENT TO ALL MEMBERS OF THE BOARD OF DIRECTORS PRIOR TO ITS FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE CFRF MAINTAINS A CONFLICT OF INTEREST POLICY FOR ITS BOARD MEMBERS AND STAFF. IF A BOARD MEMBER OR STAFF MEMBER FINDS HIMSELF OR HERSELF IN A POTENTIAL CONFLICT OF INTEREST SITUATION THAT PERSON IS REQUIRED TO BRING THAT MATTER TO THE ATTENTION OF THE FULL BOARD OF DIRECTORS. THE FULL BOARD MAKES A DETERMINATION IF THE SITUATION IS A CONFLICT OF INTEREST AND SUGGESTED RESOLUTION. IF A BOARD MEMBER IS INVOLVED, THE BOARD MEMBER IS REQUIRED TO RECLUSE HIMSELF FROM ANY BOARD DECISIONS RELATED TO THE SITUATION. IN THE CASE OF A STAFF MEMBER, AT THE TIME OF HIRING AND THROUGHOUT EMPLOYMENT, STAFF MEMBERS ARE EXPECTED TO DISCLOSE ANY POTENTIAL CONFLICT OF INTEREST AND APPROPRIATE ACTION IS TAKEN TO AVOID HAVING THAT PERSON INVOLVED IN SUCH SITUATIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2A YEARLY PERFORMANCE REVIEW IS CONDUCTED ON THE ANNIVERSARY OF AN EMPLOYEES DATE OF HIRE. IN THE CASE OF THE EXECUTIVE DIRECTOR, MEMBERS OF THE EXECUTIVE COMMITTEE REVIEW HIS OR HER WORK PERFORMANCE, DISCUSS ANY CONCERNS AND EVALUATE HIS OR HER PERFORMANCE. A WRITTEN EVALUATION IS COMPLETED AND FILED. CHANGES IN COMPENSATION ARE THEN DISCUSSED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A YEARLY PERFORMANCE REVIEW IS CONDUCTED ON THE ANNIVERSARY OF AN EMPLOYEES DATE OF HIRE. IN THE CASE OF OTHER EMPLOYEES, THE EXECUTIVE DIRECTOR AND EXECUTIVE TEAM OF THE BOARD OF DIRECTORS MEET WITH THE EMPLOYEE, REVIEW HIS OR HER WORK PERFORMANCE, DISCUSS CONCERNS AND ANY CHANGES IN THE COMPENSATION PACKAGE. ANY CHANGES IN THE COMPENSATION ARRANGEMENTS REQUIRES A REVIEW AND VOTE FROM THE FULL BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE BLACK SEA BASS RESEARCH FLEET, SHELF RESEARCH, 1221459. 0. 1333496.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5FISHING VESSEL CHARGES 1833190. 1831990. 1200. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6PROJECT SUB-CONTRACTORS 342860. 342860. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CONSULTANTS AND TRAINING 5799. 5375. 424. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 12c

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