Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1b · Membership dues

  $13,514,139

• 1e · Government grants (contributions)

  $4,111,183

• 1f · All other contributions, gifts and grants

  $87,983,148

• 1g · Noncash contributions included above

  $1,228,891

• 2a · Program service revenue: ADMISSION FEES

  total $66,684,055 · related or exempt $66,684,055

• 2b · Program service revenue: TOURS, EVENTS, OTHER

  total $7,614,047 · related or exempt $7,614,047

• 3 · Investment income

  total $12,554,798 · unrelated business $171,176 · excluded $12,383,622

• 6a · Gross rents

  real property $1,406,203

• 6b · Less rental expenses

  real property $1,060,437

• 6c · Rental income or loss

  real property $345,766

• 6d · Net rental income or loss

  total $345,766 · excluded $345,766

• 7a · Gross sales of assets other than inventory

  securities $853,534,080

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

  securities $839,657,667

• 7c · Gain or loss

  securities $13,876,413

• 7d · Net gain or loss

  total $13,876,413 · excluded $13,876,413

• 11a · Other revenue: PARKING REVENUE

  total $697,951 · related or exempt $35,010 · unrelated business $662,941

• 11b · Other revenue: LICENSING REVENUE

  total $510,833 · related or exempt $510,833

• 11c · Other revenue: OTHER EARNED REVENUE

  total $243,318 · related or exempt $243,318

• 11e · Other revenue, total

  $1,452,102

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $22,289 · program services $22,289

• 2 · Grants to domestic individuals

  total $167,409 · program services $167,409

• 3 · Grants to foreign organizations and individuals

  total $80,450 · program services $80,450

• 5 · Compensation of officers, directors and key employees

  total $4,016,137 · program services $2,020,948 · management and general $1,380,110 · fundraising $615,079

• 7 · Other salaries and wages

  total $46,446,714 · program services $38,971,351 · management and general $4,564,227 · fundraising $2,911,136

• 8 · Pension plan contributions

  total $3,239,041 · program services $2,734,129 · management and general $277,529 · fundraising $227,383

• 9 · Other employee benefits

  total $7,446,889 · program services $6,180,320 · management and general $777,494 · fundraising $489,075

• 10 · Payroll taxes

  total $3,613,283 · program services $2,989,126 · management and general $395,399 · fundraising $228,758

• 11b · Fees: legal

  total $345,234 · management and general $314,452 · fundraising $30,782

• 11c · Fees: accounting

  total $217,388 · management and general $217,388

• 11d · Fees: lobbying

  total $233,661 · program services $233,661

• 11e · Fees: professional fundraising services

  total $193,037 · fundraising $193,037

• 11f · Fees: investment management

  total $1,416,986 · management and general $1,416,986

• 11g · Fees: other

  total $11,297,941 · program services $8,828,617 · management and general $947,750 · fundraising $1,521,574

• 12 · Advertising and promotion

  total $8,011,019 · program services $8,007,597 · management and general $3,422

• 13 · Office expenses

  total $2,936,563 · program services $2,460,283 · management and general $61,944 · fundraising $414,336

• 14 · Information technology

  total $6,867,214 · program services $6,218,053 · management and general $603,695 · fundraising $45,466

• 15 · Royalties

  total $72,940 · program services $68,649 · management and general $4,291

• 16 · Occupancy

  total $9,826,924 · program services $8,225,839 · management and general $1,132,477 · fundraising $468,608

• 17 · Travel

  total $1,276,859 · program services $1,158,951 · management and general $99,244 · fundraising $18,664

• 19 · Conferences, conventions and meetings

  total $1,315,930 · program services $669,859 · management and general $526,914 · fundraising $119,157

• 22 · Depreciation, depletion and amortization

  total $12,298,996 · program services $9,696,394 · management and general $2,582,777 · fundraising $19,825

• 23 · Insurance

  total $1,156,154 · program services $1,061,916 · management and general $87,233 · fundraising $7,005

• 24a · Other expenses: VEHICLE AND VESSEL OPER

  total $587,704 · program services $431,182 · management and general $156,500 · fundraising $22

• 24b · Other expenses: SPONSORSHIPS & GIFTS

  total $440,151 · program services $271,753 · management and general $147,548 · fundraising $20,850

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $11,267,067 · end of year $5,576,842

• 2 · Savings and temporary cash investments

  beginning of year $55,987,009 · end of year $46,734,424

• 3 · Pledges and grants receivable

  beginning of year $21,631,281 · end of year $59,554,773

• 4 · Accounts receivable

  beginning of year $3,782,786 · end of year $2,840,152

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,260,191 · end of year $2,625,717

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

  $431,808,066

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

  $226,522,329

• 10c · Land, buildings and equipment, net

  beginning of year $191,386,461 · end of year $205,285,737

• 11 · Investments: publicly traded securities

  beginning of year $335,057,007 · end of year $269,350,359

• 12 · Investments: other securities

  beginning of year $113,188,757 · end of year $242,193,955

• 15 · Other assets

  beginning of year $4,963,855 · end of year $3,502,518

• 17 · Accounts payable and accrued expenses

  beginning of year $15,335,864 · end of year $14,631,812

• 19 · Deferred revenue

  beginning of year $8,837,495 · end of year $8,444,918

• 25 · Other liabilities

  beginning of year $145,879 · end of year $114,677

• 27 · Net assets without donor restrictions

  beginning of year $626,057,048 · end of year $674,733,614

• 28 · Net assets with donor restrictions

  beginning of year $89,148,128 · end of year $139,739,456

The filer's explanations (Part III)

PART I, LINE 1A

ATTRACTION TICKETS AND GIFT CERTIFICATES WERE PROVIDED TO THE ASSISTANT SECRETARY, THE VP OF ANIMAL CARE, AND THE VP OF GIFT PLANNING. THE AQUARIUM GROSSES UP THE FAIR MARKET VALUE OF THESE ITEMS TO COVER THE EMPLOYEES' TAXES. SUCH ITEMS WERE TREATED AS TAXABLE INCOME ON THE EMPLOYEE'S FORM W-2 AND REPORTED AS COMPENSATION ON SCHEDULE J, PART II, COLUMN B (III) AND FORM 990, PART VII, SECTION A, COLUMN D. AS PART OF THE AQUARIUM'S WELLNESS PROGRAM, ALL EMPLOYEES (INCLUDING THE LISTED EMPLOYEES IN FORM 990, PART VII, SECTION A) ARE ELIGIBLE TO RECEIVE A SUBSIDY FOR FITNESS CENTER DUES IF THE EMPLOYEE MEETS CERTAIN WELLNESS PROGRAM REQUIREMENTS. SINCE THIS TYPE OF SUBSIDY IS CONSIDERED A TAXABLE FRINGE BENEFIT, THE AQUARIUM GROSSES UP THESE SUBSIDIES TO COVER THE EMPLOYEE'S TAXES. SUCH PAYMENTS WERE TREATED AS TAXABLE INCOME ON THE EMPLOYEE'S W-2 AND REPORTED AS COMPENSATION ON SCHEDULE J, PART II, COLUMN B (III) AND FORM 990, PART VII, SECTION A, COLUMN D. THE EXECUTIVE VP AND DEPUTY DIRECTOR, RECEIVED TRAVEL FOR COMPANIONS AND A HOUSING ALLOWANCE IN 2024. THESE PAYMENTS WERE IN CONNECTION WITH HIS RECRUITMENT, OFFER OF EMPLOYMENT, AND RELOCATION TO MONTEREY. THESE AMOUNTS ARE TREATED AS TAXABLE COMPENSATION AND REPORTED ON SCHEDULE J, PART II, COLUMN B (III) AND FORM 990, PART VII, SECTION A, COLUMN D.

PART I, LINE 7

CERTAIN OFFICERS AND EMPLOYEES WERE AWARDED BONUSES AS PART OF AN ORGANIZATION BONUS BASED ON POSITIVE FINANCIAL RESULTS. THESE AMOUNTS ARE TREATED AS TAXABLE COMPENSATION AND REPORTED ON FORM 990, SCHEDULE J, PART II, COLUMN B (II) AND FORM 990, PART VII, SECTION A, COLUMN D.

Related corporations and trusts

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

• CHARITABLE LEAD ANNUITY TRUST (1)

  T · INVESTMENTS · CA · controlled entity

  Directly controlled by MONTEREY BAY AQUARIUM FOUNDATION