Envisioning 2030: Turning Ambition Into Impact

From the CEO

I am proud of the progress we made in 2025, the first year of our ambitious new strategic plan. Our vision for 2030 is that communities in the Gulf of Maine and beyond will have the knowledge, resources, and relationships they need to thrive amid rapid change.

Over the past year, I’ve had the privilege of sharing this vision in living rooms, community centers, media interviews, and public events throughout our region and around the world. I often describe our work in the Gulf of Maine as a blueprint for communities beyond our region—a homegrown model for translating scientific knowledge into impact on some of the hardest challenges facing oceans and the communities that depend on them.

The urgency of the climate challenge is real, but so is the ingenuity of the people working to overcome it. You see it in school cafeterias serving locally caught fish to young students; in apprentices building careers in aquaculture; in coastal towns turning flood hazard maps into community visions and investment plans; in start-ups creating new business models for the ocean economy, and in seafood harvesters helping to shape the future of marine renewable energy alongside the scientists studying it.

At the heart of our work is our core belief that ecological resilience, economic resilience, and community resilience are not competing priorities. More often than not, they are the same thing. As we mark our 20th year on the waterfront, we are building on two decades of momentum and accelerating our efforts to bring this belief to life. Read on to explore our impact over the past year and our vision for what's to come.

Glenn Prickett

President & CEO

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20 Years on the Waterfront

2025 marked 20 years since our research and education facility opened on Portland's waterfront. As we celebrated this anniversary, we also took a moment to imagine what's next for the Gulf of Maine region and beyond. What we envisioned was a future in which ocean ecosystems, communities, and economies thrive for generations to come. We are building on two decades of momentum, partnership, and community to accelerate our efforts to bring this vision to life.

Story Spotlights from 2025

Each year, we share dozens of stories that highlight our mission, impact, and partners. Revisit some of our favorite moments from 2025 below.

2025 Financial Update

The Gulf of Maine Research Institute maintains a strong and resilient financial foundation, supported by a diversified mix of revenue sources and a healthy liquidity position. Our FY2025 revenue totaled $25.2 million, driven by $13.4 million in government grants and contracts, $7.6 million in contributions, and $4.1 million from other sources. This balanced revenue portfolio reduces dependency on any single source and supports long-term stability. Our financial resilience is further reinforced by operating reserves totaling $10.8 million. This provides the Institute with flexibility to maintain consistent program delivery.

GMRI’s endowment plays a vital role in ensuring long-term financial stability and mission sustainability. As of June 30, 2025, the endowment’s market value totaled $19,375,047, reflecting disciplined stewardship and adherence to our Board-approved Investment Policy Statement. The annual distribution to support operations is 4% of the trailing 12-quarter average market value, providing a stable and predictable source of support for ongoing operations while protecting the endowment’s long-term growth.

As we continue our mission to develop and deliver collaborative solutions to global ocean challenges, we remain committed to disciplined resource management. With strong liquidity, diversified revenue streams, and mission-centered program investments, GMRI is well-positioned to sustain ongoing operations and advance long-term strategic goals.

GMRI’s audited financial statements are reported on a consolidated basis with its subsidiaries.

– Sarah Clifford
Director of Finance

Revenue: $25,153,918

Expenses: $19,436,648

Total Net Assets: $51,632,290

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We are navigating a funding environment that demands both steadiness and flexibility. The donors and partners who stood with GMRI this year — some for the first time, some for nearly two decades — have provided exactly that.
Denise DesChenes Board Chair & Retired Partner/Managing Director

Denise DesChenes Board Chair & Retired Partner/Managing Director Sard Verbinnen & Co. (now FGS Global)

Thank You To Our Donors

Thank you to our extraordinary community of individuals, foundations, and corporations from near and far who make our mission possible. Your contribution supports the Gulf of Maine ecosystem and the hardworking communities that depend on it.

Wind Rose Society

Wind Rose Society donors are GMRI community leaders. By making a Wind Rose Society gift, donors receive access to organizational leadership, unique events, and insider information and expertise.

Learn more about our Wind Rose Society

Gulf of Maine Legacy Society

The Gulf of Maine Legacy Society consists of visionary donors who have committed a planned gift to sustain GMRI for generations to come.

Learn more about our Legacy Society