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← GLOUCESTER MARINE GENOMICS INSTITUTE INCORPORATED

Form 990 for tax year 2022

Filed by GLOUCESTER MARINE GENOMICS INSTITUTE INCORPORATED.

Totals

Total revenue
$4,950,560
Total expenses
$4,182,030
Contributions and grants received
$4,770,781
Grants paid
$44,659
Program service revenue
$145,417
Investment income
$30,947
Other revenue
$3,415
Total assets, end of year
$8,833,922
Total liabilities, end of year
$1,937,763
Net assets or fund balances, end of year
$6,896,159
Program services expenses (Part IX)
$3,101,123
Management and general expenses
$759,056
Fundraising expenses
$321,851
Program service expenses (Part III)
$3,101,123

Program services were 74.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $872,107

  • 1f · All other contributions, gifts and grants

    $3,898,674

  • 1g · Noncash contributions included above

    $164,473

  • 2a · Program service revenue: RESEARCH SUPPORT

    total $125,508 · related or exempt $125,508

  • 2b · Program service revenue: TUITION REVENUE

    total $19,909 · related or exempt $19,909

  • 3 · Investment income

    total $15,666 · excluded $15,666

  • 7a · Gross sales of assets other than inventory

    securities $164,473 · other assets $20,000

  • 7b · Less cost or other basis and sales expenses

    securities $165,192 · other assets $4,000

  • 7c · Gain or loss

    securities -$719 · other assets $16,000

  • 7d · Net gain or loss

    total $15,281 · excluded $15,281

  • 11a · Other revenue: OTHER REVENUE

    total $3,415 · excluded $3,415

  • 11e · Other revenue, total

    $3,415

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $12,471 · program services $12,471

  • 2 · Grants to domestic individuals

    total $32,188 · program services $32,188

  • 5 · Compensation of officers, directors and key employees

    total $501,981 · program services $224,424 · management and general $224,424 · fundraising $53,133

  • 7 · Other salaries and wages

    total $1,614,558 · program services $1,136,105 · management and general $299,374 · fundraising $179,079

  • 9 · Other employee benefits

    total $135,203 · program services $96,512 · management and general $22,943 · fundraising $15,748

  • 10 · Payroll taxes

    total $154,083 · program services $100,175 · management and general $36,439 · fundraising $17,469

  • 11c · Fees: accounting

    total $17,750 · management and general $17,750

  • 11g · Fees: other

    total $121,652 · program services $117,159 · management and general $3,906 · fundraising $587

  • 12 · Advertising and promotion

    total $29,636 · program services $963 · management and general $28,673

  • 13 · Office expenses

    total $148,336 · program services $87,800 · management and general $28,581 · fundraising $31,955

  • 14 · Information technology

    total $65,360 · program services $33,588 · management and general $26,800 · fundraising $4,972

  • 16 · Occupancy

    total $301,585 · program services $282,970 · management and general $14,178 · fundraising $4,437

  • 17 · Travel

    total $38,900 · program services $33,400 · management and general $4,855 · fundraising $645

  • 19 · Conferences, conventions and meetings

    total $47,810 · program services $30,216 · management and general $6,447 · fundraising $11,147

  • 20 · Interest

    total $10,385 · management and general $10,385

  • 22 · Depreciation, depletion and amortization

    total $503,793 · program services $494,396 · management and general $7,283 · fundraising $2,114

  • 23 · Insurance

    total $24,922 · program services $350 · management and general $24,572

  • 24a · Other expenses: LAB CONSUMABLES

    total $287,271 · program services $286,943 · management and general $328

  • 24b · Other expenses: SERVICE POLICIES

    total $85,429 · program services $85,429

  • 24c · Other expenses: REPAIRS AND MAINTENANCE

    total $28,289 · program services $26,639 · management and general $1,190 · fundraising $460

  • 24d · Other expenses: CONTRACT RESEARCH COSTS

    total $18,461 · program services $18,461

  • 24e · All other expenses

    total $1,967 · program services $934 · management and general $928 · fundraising $105

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $361,688 · end of year $149,897

  • 2 · Savings and temporary cash investments

    beginning of year $887,027 · end of year $1,403,006

  • 3 · Pledges and grants receivable

    beginning of year $1,169,736 · end of year $2,286,305

  • 4 · Accounts receivable

    beginning of year $12,633 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $76,252 · end of year $111,594

  • 10a · Land, buildings and equipment: cost or other basis

    $5,394,333

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,149,090

  • 10c · Land, buildings and equipment, net

    beginning of year $3,662,303 · end of year $3,245,243

  • 15 · Other assets

    beginning of year $221,609 · end of year $1,637,877

  • 17 · Accounts payable and accrued expenses

    beginning of year $118,052 · end of year $151,964

  • 19 · Deferred revenue

    beginning of year $0 · end of year $1,760

  • 24 · Unsecured notes and loans payable

    beginning of year $145,567 · end of year $129,399

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,654,640

  • 27 · Net assets without donor restrictions

    beginning of year $4,944,725 · end of year $4,276,200

  • 28 · Net assets with donor restrictions

    beginning of year $1,182,904 · end of year $2,619,959

Mission and programs · 2022

Mission

GLOUCESTERMARINE GENOMICS INSTITUTE (GMGI) ADDRESSES CRITICAL CHALLENGES FACING OUR OCEANS, HUMAN HEALTH, AND THE ENVIRONMENT THROUGH INNOVATIVE SCIENTIFIC RESEARCH AND EDUCATION. BY BRINGING WORLD-CLASS SCIENCE AND TRANSFORMATIVE WORKPLACE DEVELOPMENT TO GLOUCESTER'S HISTORIC WATERFRONT, GMGI IS CATALYZING THE REGIONAL ECONOMY.

Activities or mission (Part I)

TO ADDRESS CRITICAL CHALLENGES FACING OUR OCEANS, HUMAN HEALTH AND THE ENVIRONMENT THROUGH INNOVATIVE SCIENTIFIC RESEARCH AND EDUCATION.

  • RESEARCH - GMGI HAS ESTABLISHED A WORLD-CLASS MARINE BIOTECHNOLOGY RESEARCH INSTITUTE ON THE GLOUCESTER HARBOR WHOSE WORK IS POWERED BY THE SCIENTIFIC FIELD OF GENOMICS. MARINE GENOMICS REPRESENTS A NEW EPOCH IN BOTH MARINE SCIENCE AND BIOTECHNOLOGY AND GMGI IS LEADING THE WAY. THE PRIMARY FOCUS IS ON TRANSLATIONAL RESEARCH THAT CONNECTS DIRECTLY WITH HUMAN HEALTH. GMGI IS ALSO BRINGING THE BEST SCIENCE TO FISHERY RESEARCH.

    Expenses $2,055,908 · Revenue $125,508

  • BIOTECHNOLOGY ACADEMY - GMGI HAS CREATED A VIBRANT SCIENCE LEARNING ENVIRONMENT, WITH GLOUCESTER BIOTECHNOLOGY ACADEMY AS THE FLAGSHIP PROGRAM. THE ACADEMY TRAINS LOCAL HIGH SCHOOL GRADUATES FOR JOBS AS BIOTECH LAB TECHNICIANS THROUGH A LAB-IMMERSION CURRICULUM AT OUR STATE-OF-THE-ART TRAINING FACILITY, AND FOR PAID INTERNSHIPS AT LOCAL BIOTECH FIRMS. THE ACADEMY ALSO OFFERS EDUCATIONAL SCIENCE PROGRAMS FOR MIDDLE AND HIGH SCHOOL STUDENTS. DURING 2022, THE ORGANIZATION CHANGED ITS TUITION POLICY, AND NOW OFFERS ITS CERTIFICATE PROGRAM TUITION-FREE FOR ALL STUDENTS IN THE ACADEMY.

    Expenses $1,045,215 · Grants $44,659 · Revenue $19,909

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Marc Vidal

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Michele May

    BOARD CHAIR & TREASURER

    Total calculated
    $0
    Hours/week
    8

  • Jim Bacon

    DIRECTOR THRU AUG. 2022

    Total calculated
    $0
    Hours/week
    1.5

  • Jose-Carlos Gutierrez-Ramos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bill Kane

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Laura Liss

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John O'Connor

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • George Putnam

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1.5

  • Laura Sen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tom Simons

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3.5

  • David Walt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Christine Bolzan

    EXECUTIVE DIRECTOR / CLERK

    Total calculated
    $265,666
    From this org
    $243,587
    From related orgs
    $0
    Other
    $22,079
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $218,173
    Bonus
    $25,000
    Other
    $414
    Deferred
    $0
    Nontaxable benefits
    $22,079
    Filer's total
    $265,666

  • Andrea Bodnar

    SCIENCE DIRECTOR

    Total calculated
    $236,315
    From this org
    $215,744
    From related orgs
    $0
    Other
    $20,571
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,564
    Bonus
    $10,000
    Other
    $180
    Deferred
    $0
    Nontaxable benefits
    $20,571
    Filer's total
    $236,315

  • John Doyle

    EDUCATION DIRECTOR

    Total calculated
    $124,978
    From this org
    $117,978
    From related orgs
    $0
    Other
    $7,000
    Hours/week
    40

  • Logan Walsh

    DEVELOPMENT DIRECTOR

    Total calculated
    $177,387
    From this org
    $170,229
    From related orgs
    $0
    Other
    $7,158
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $155,114
    Bonus
    $15,000
    Other
    $115
    Deferred
    $0
    Nontaxable benefits
    $7,158
    Filer's total
    $177,387

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE ORGANIZATION PAID PERFORMANCE-BASED BONUSES TO THE INDIVIDUALS LISTED IN PART II AS REPORTED IN COLUMN B(II). BONUSES ARE REVIEWED AND APPROVED BY THE GOVERNANCE/PERSONNEL COMMITTEE.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • UNIVERSITY OF WASHINGTON

    $6,493

    SUBAWARD - RESEARCH PROJECT

  • UNIVERSITY OF MASSACHUSETTS AMHERST

    $5,978

    SUBAWARD - RESEARCH PROJECT

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343189349312004

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