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Nonprofiteer
← SEA RESEARCH FOUNDATION INC

Form 990 for tax year 2022

Filed by SEA RESEARCH FOUNDATION INC.

Totals

Total revenue
$32,599,649
Total expenses
$29,857,481
Contributions and grants received
$10,053,356
Grants paid
$83,846
Program service revenue
$23,171,763
Investment income
-$388,051
Other revenue
-$237,419
Total assets, end of year
$54,777,845
Total liabilities, end of year
$12,016,372
Net assets or fund balances, end of year
$42,761,473
Program services expenses (Part IX)
$22,880,745
Management and general expenses
$3,806,060
Fundraising expenses
$3,170,676
Program service expenses (Part III)
$22,880,745

Program services were 76.6% 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.

  • 1c · Fundraising events

    $508,563

  • 1e · Government grants (contributions)

    $7,772,242

  • 1f · All other contributions, gifts and grants

    $1,772,551

  • 1g · Noncash contributions included above

    $741,101

  • 2a · Program service revenue: ADMISSIONS

    total $15,979,935 · related or exempt $15,979,935

  • 2b · Program service revenue: SPECIAL EXHIBITS AND OTHER REVENU

    total $3,889,357 · related or exempt $3,889,357

  • 2c · Program service revenue: MEMBERSHIPS

    total $2,163,718 · related or exempt $2,163,718

  • 2d · Program service revenue: PROGRAM INCOME

    total $1,138,753 · related or exempt $1,129,982 · unrelated business $8,771

  • 3 · Investment income

    total $61,009 · excluded $61,009

  • 7a · Gross sales of assets other than inventory

    other assets $214,188

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

    other assets $663,248

  • 7c · Gain or loss

    other assets -$449,060

  • 7d · Net gain or loss

    total -$449,060 · excluded -$449,060

  • 8a · Fundraising events: gross income

    $142,242

  • 8a · Fundraising events: contributions included on line 1c

    $508,563

  • 8b · Fundraising events: direct expenses

    $435,029

  • 8c · Net income from fundraising events

    total -$292,787 · excluded -$292,787

  • 11d · All other revenue

    total $55,368 · related or exempt $55,368

  • 11e · Other revenue, total

    $55,368

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $69,448 · program services $69,448

  • 2 · Grants to domestic individuals

    total $14,398 · program services $14,398

  • 5 · Compensation of officers, directors and key employees

    total $1,290,807 · program services $1,031,257 · management and general $176,045 · fundraising $83,505

  • 7 · Other salaries and wages

    total $11,888,506 · program services $9,498,019 · management and general $1,621,397 · fundraising $769,090

  • 8 · Pension plan contributions

    total $109,583 · program services $87,549 · management and general $14,945 · fundraising $7,089

  • 9 · Other employee benefits

    total $2,012,763 · program services $1,608,046 · management and general $274,508 · fundraising $130,209

  • 10 · Payroll taxes

    total $38,296 · program services $30,596 · management and general $5,223 · fundraising $2,477

  • 11b · Fees: legal

    total $347,865 · management and general $347,865

  • 11c · Fees: accounting

    total $90,900 · management and general $90,900

  • 11d · Fees: lobbying

    total $320,000 · program services $320,000

  • 11e · Fees: professional fundraising services

    total $40,000 · fundraising $40,000

  • 11g · Fees: other

    total $2,005,735 · program services $1,502,073 · management and general $392,603 · fundraising $111,059

  • 12 · Advertising and promotion

    total $1,657,025 · program services $3,189 · management and general $32,656 · fundraising $1,621,180

  • 13 · Office expenses

    total $940,439 · program services $848,085 · management and general $71,235 · fundraising $21,119

  • 14 · Information technology

    total $43,634 · program services $35,582 · fundraising $8,052

  • 16 · Occupancy

    total $1,741,924 · program services $1,485,016 · management and general $188,632 · fundraising $68,276

  • 17 · Travel

    total $287,101 · program services $169,599 · management and general $112,971 · fundraising $4,531

  • 20 · Interest

    total $163,860 · program services $131,088 · management and general $24,579 · fundraising $8,193

  • 22 · Depreciation, depletion and amortization

    total $2,425,025 · program services $2,182,523 · management and general $242,502

  • 23 · Insurance

    total $343,281 · program services $288,357 · management and general $34,328 · fundraising $20,596

  • 24a · Other expenses: EDUCATION PROGRAM

    total $1,463,411 · program services $1,447,418 · management and general $2,493 · fundraising $13,500

  • 24b · Other expenses: ANIMAL COSTS

    total $711,813 · program services $711,755 · management and general $58

  • 24c · Other expenses: DUES AND SUBSCRIPTIONS

    total $336,588 · program services $153,372 · management and general $14,095 · fundraising $169,121

  • 24d · Other expenses: BRINE AND CHEMICALS

    total $334,616 · program services $334,616

  • 24e · All other expenses

    total $1,180,463 · program services $928,759 · management and general $159,025 · fundraising $92,679

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,315,157 · end of year $1,766,408

  • 2 · Savings and temporary cash investments

    beginning of year $4,040,152 · end of year $7,275,686

  • 3 · Pledges and grants receivable

    beginning of year $590,132 · end of year $754,866

  • 4 · Accounts receivable

    beginning of year $365,768 · end of year $270,045

  • 9 · Prepaid expenses and deferred charges

    beginning of year $462,098 · end of year $277,075

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

    $75,098,991

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

    $41,899,750

  • 10c · Land, buildings and equipment, net

    beginning of year $32,875,006 · end of year $33,199,241

  • 11 · Investments: publicly traded securities

    beginning of year $10,061,646 · end of year $9,099,744

  • 15 · Other assets

    beginning of year $1,401,683 · end of year $2,134,780

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,203,391 · end of year $2,572,807

  • 19 · Deferred revenue

    beginning of year $3,503,185 · end of year $1,273,422

  • 23 · Secured mortgages and notes payable

    beginning of year $5,404,354 · end of year $7,731,806

  • 25 · Other liabilities

    beginning of year $469,323 · end of year $438,337

  • 27 · Net assets without donor restrictions

    beginning of year $38,996,108 · end of year $41,236,621

  • 28 · Net assets with donor restrictions

    beginning of year $1,535,281 · end of year $1,524,852

Mission and programs · 2022

Mission

TO INSPIRE PEOPLE TO CARE FOR AND PROTECT OUR OCEAN PLANET THROUGH EDUCATION AND RESEARCH.

Activities or mission (Part I)

TO INSPIRE PEOPLE TO CARE FOR AND PROTECT OUR OCEAN PLANET THROUGH EDUCATION AND RESEARCH

  • THE ORGANIZATION OPERATES AN AQUARIUM WHICH IS OPEN TO THE GENERAL PUBLIC. PROGRAMS INCLUDE ANIMAL HUSBANDRY AND REHABILITATION FOR MARINE MAMMALS, PENGUINS, FISHES AND AQUATIC INVERTEBRATES. DURING 2022 THERE WERE APPROXIMATELY 787,000 VISITORS THAT CAME TO THE AQUARIUM.

    Expenses $15,115,990 · Revenue $22,033,010

  • THE ORGANIZATION ALSO SUPPORTS EDUCATION AND RESEARCH PROGRAMS AT THE AQUARIUM, AND THROUGH TRAVELING TEACHERS' PROGRAMS TO STUDENTS AND THEIR SCHOOLS. DURING THE CALENDAR YEAR 2022 APPORXIMATELY 85,000 STUDENTS BENEFITED FROM THE EDUCATION AND RESEARCH PROGRAMS.

    Expenses $4,687,898 · Grants $14,398 · Revenue $1,129,982

  • OTHER VISITOR SERVICES PROVIDED BY THE ORGANIZATION INCLUDE PROMOTING EDUCATION, RESEARCH, AND LEARNING ABOUT OUR OCEAN PLANET.

    Expenses $3,076,857 · Grants $69,448 · Revenue $55,368

As filed on the 2022 return.

Listed in Part VII

  • Alex Marku

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Antonio Roberto

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Cecilie Jedlicka

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Dr George M Milne Jr

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1
  • Dr Sarah Kelly

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Ed Cassidy

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • George Kirby

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Jason Reese

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • John Holstein

    SECRETARY

    Total calculated
    $0
    Hours/week
    1
  • Michael Lech

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Michael Rauh

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Patrick Green

    TREASURER

    Total calculated
    $0
    Hours/week
    1
  • Paul Robertson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Peter B Barr PhD

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Peter G Drakos

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Richard Katz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Robert Williams Jr

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Rodney Butler

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Stephen M Coan PhD

    OUTGOING PRESIDENT, CEO

    Total calculated
    $659,363
    From this org
    $628,339
    From related orgs
    $0
    Other
    $31,024
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $293,843
    Bonus
    $100,000
    Other
    $234,496
    Deferred
    $6,773
    Nontaxable benefits
    $24,251
    Filer's total
    $659,363
  • Steve K Perrelli

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1
  • Susette Tibus

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1
  • Tan Hee Teck

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Thomas Marra

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1
  • Timothy J Kane

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Tom Mosey

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1
  • Veronica Dowling

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1
  • Katrina S Cubina

    INTERIM CEO/SENIOR VP, MISSION PROGRAM

    Total calculated
    $320,206
    From this org
    $295,194
    From related orgs
    $0
    Other
    $25,012
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $259,967
    Bonus
    $35,227
    Other
    $0
    Deferred
    $2,582
    Nontaxable benefits
    $22,430
    Filer's total
    $320,206
  • Koray Gurz

    SVP, CFO

    Total calculated
    $311,240
    From this org
    $277,152
    From related orgs
    $0
    Other
    $34,088
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $251,926
    Bonus
    $25,226
    Other
    $0
    Deferred
    $4,254
    Nontaxable benefits
    $29,834
    Filer's total
    $311,240
  • Allison Tuttle

    SVP, ZOOLOGICAL OPERATIONS

    Total calculated
    $247,464
    From this org
    $235,628
    From related orgs
    $0
    Other
    $11,836
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $220,402
    Bonus
    $15,226
    Other
    $0
    Deferred
    $3,409
    Nontaxable benefits
    $8,427
    Filer's total
    $247,464
  • Eric Anderson

    DIRECTOR OF ANIMAL CARE AND WELFARE

    Total calculated
    $199,739
    From this org
    $179,867
    From related orgs
    $0
    Other
    $19,872
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,667
    Bonus
    $3,200
    Other
    $15,000
    Deferred
    $0
    Nontaxable benefits
    $19,872
    Filer's total
    $199,739
  • Keith Sorensen

    SR VP OF FACILITIES AND CAPITAL PROJECTS

    Total calculated
    $192,034
    From this org
    $174,982
    From related orgs
    $0
    Other
    $17,052
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,756
    Bonus
    $15,226
    Other
    $0
    Deferred
    $3,263
    Nontaxable benefits
    $13,789
    Filer's total
    $192,034
  • Tina Couch

    VP DEVELOPMENT

    Total calculated
    $214,052
    From this org
    $210,723
    From related orgs
    $0
    Other
    $3,329
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,497
    Bonus
    $20,226
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $3,329
    Filer's total
    $214,052
  • Tracy Romano

    VP CHIEF SCIENTIST

    Total calculated
    $171,668
    From this org
    $171,439
    From related orgs
    $0
    Other
    $229
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $161,239
    Bonus
    $10,200
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $229
    Filer's total
    $171,668
  • Larry Rivarde

    FORMER EXECUTIVE VP, COO

    Total calculated
    $162,078
    From this org
    $160,952
    From related orgs
    $0
    Other
    $1,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $12,362
    Bonus
    $0
    Other
    $148,590
    Deferred
    $0
    Nontaxable benefits
    $1,126
    Filer's total
    $162,078

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

  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 7 · Other non-fixed payments

Answered no

  • 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, LINES 4A-B
THE OUTGOING CEO RECEIVED A PAYMENT OF $87,299 FROM A 457F RETIREMENT PLAN AND A SEVERANCE PAYMENT OF $147,115 WHICH WERE REPORTED IN HIS 2022 W2. THE FORMER COO RECEIVED A PAYMENT OF $144,009 FROM A 457F PLAN WHICH WAS REPORTED IN HIS 2022 W2.
PART I, LINE 7
EXECUTIVE OFFICERS RECEIVED A BOARD APPROVED CALENDAR YEAR 2022 BONUS.

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

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • MYSTIC ENTERTAINMENT COMPANY

    C · MANAGEMENT OF FOOD SERVICE AT MYSTIC AQUARIUM AND CATERING SERVICES · CT · 100% owned · controlled entity

    Directly controlled by SEA RESEARCH FOUNDATION INC

Provenance

Return type
form_990
Tax year
2022
Filed
7 September 2023
IRS schema version
2022v5.0
Source object
202302529349300200

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