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Nonprofiteer
← NATIONAL AQUARIUM FOUNDATION INC

Form 990 for tax year 2025

Filed by NATIONAL AQUARIUM FOUNDATION INC.

Totals

Total revenue
$2,731,866
Total expenses
$1,561,278
Contributions and grants received
$0
Grants paid
$1,425,978
Program service revenue
$0
Investment income
$2,731,866
Other revenue
$0
Total assets, end of year
$36,489,650
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$36,489,650
Program services expenses (Part IX)
$1,425,978
Management and general expenses
$135,300
Fundraising expenses
$0
Program service expenses (Part III)
$1,425,978

Program services were 91.3% 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.

  • 3 · Investment income

    total $704,330 · excluded $704,330

  • 7a · Gross sales of assets other than inventory

    securities $4,096,179

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

    securities $2,068,643

  • 7c · Gain or loss

    securities $2,027,536

  • 7d · Net gain or loss

    total $2,027,536 · excluded $2,027,536

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,425,978 · program services $1,425,978

  • 11f · Fees: investment management

    total $135,300 · management and general $135,300

Balance sheet

Part X, book values.

  • 4 · Accounts receivable

    beginning of year $19,269 · end of year $15,963

  • 11 · Investments: publicly traded securities

    beginning of year $10,828,055 · end of year $10,641,798

  • 12 · Investments: other securities

    beginning of year $23,825,510 · end of year $25,831,889

  • 15 · Other assets

    beginning of year $121,436 · end of year $0

  • 25 · Other liabilities

    beginning of year $121,436 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $28,695,744 · end of year $30,239,275

  • 28 · Net assets with donor restrictions

    beginning of year $5,977,090 · end of year $6,250,375

Mission and programs · 2025

Mission

TO CONNECT PEOPLE WITH NATURE TO INSPIRE COMPASSION AND CARE FOR OUR OCEAN PLANET

  • THE NATIONAL AQUARIUM FOUNDATION PROVIDES FINANCIAL SUPPORT THAT ADVANCES THE NATIONAL AQUARIUM'S MISSION OF CONNECTING PEOPLE WITH NATURE TO INSPIRE COMPASSION AND CARE FOR OUR OCEAN PLANET

    Expenses $1,425,978 · Grants $1,425,978

As filed on the 2025 return.

Listed in Part VII

  • Meredith Mowen

    CHAIR

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Xuying Chang

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Anna Smith

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jennifer Ventimiglia

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ted Wiese

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • John C Racanelli

    PRESIDENT & CEO (THRU 11/28/25)

    Total calculated
    $677,165
    From this org
    $0
    From related orgs
    $464,429
    Other
    $212,736
    Hours/week
    6 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $427,722 related
    Bonus
    $0
    Other
    $0 + $36,707 related
    Deferred
    $0 + $167,250 related
    Nontaxable benefits
    $0 + $45,486 related
    Filer's total
    $0 + $677,165 related

  • Virginia Y Newton

    SVP/CFO/COO/TREASURER

    Total calculated
    $377,622
    From this org
    $0
    From related orgs
    $348,076
    Other
    $29,546
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $347,362 related
    Bonus
    $0
    Other
    $0 + $714 related
    Deferred
    $0 + $9,577 related
    Nontaxable benefits
    $0 + $19,969 related
    Filer's total
    $0 + $377,622 related

  • Margot Amelia

    SVP/CSO/SECRETARY

    Total calculated
    $299,640
    From this org
    $0
    From related orgs
    $278,628
    Other
    $21,012
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $276,518 related
    Bonus
    $0
    Other
    $0 + $2,110 related
    Deferred
    $0 + $6,432 related
    Nontaxable benefits
    $0 + $14,580 related
    Filer's total
    $0 + $299,640 related

  • Jennifer Driban

    INTERIM CEO

    Total calculated
    $357,231
    From this org
    $0
    From related orgs
    $317,008
    Other
    $40,223
    Hours/week
    6 + 34 related

    Schedule J breakdown matched by us

    Base
    $0 + $316,842 related
    Bonus
    $0
    Other
    $0 + $166 related
    Deferred
    $0 + $8,241 related
    Nontaxable benefits
    $0 + $31,982 related
    Filer's total
    $0 + $357,231 related

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

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
THE NATIONAL AQUARIUM, INC. (NAI), A RELATED ORGANIZATION, ESTABLISHES THE COMPENSATION FOR THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER. NAI USES A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINE 1B
THE PRESIDENT AND CEO, JOHN RACANELLI PARTICIPATES IN A 457(F) NONQUALIFIED RETIREMENT PLAN. DURING THE TAX YEAR, $155,000 WAS SET ASIDE AS A CONTRIBUTION TO HIS SECTION 457(F) ACCOUNT. JOHN RACANELLI ALSO RETIRED IN 2025. GIVEN HIS EMPLOYMENT AGREEMENT, HE WAS PAID THROUGH THE END OF HIS CONTRACT AFTER TERMINATION. JOHN RACANELLI RECEIVED A SEPARATION PACKAGE FROM THE NATIONAL AQUARIUM, INC. THAT WAS WITHIN THE TERMS AND CONDITIONS OF HIS EMPLOYMENT AGREEMENT. ADDITIONAL TERMS AND CONDITIONS OF THE CONFIDENTIAL AGREEMENT WILL BE PROVIDED TO THE IRS UPON REQUEST. AMOUNTS PAID DURING THE CURRENT PERIOD ARE PROPERLY REFLECTED ON THE EMPLOYEES W-2 AND DISCLOSED IN COLUMN B(III) ON SCHEDULE J, PART II.

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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2025
Filed
15 September 2026
IRS schema version
2025v4.2
Source object
202622609349302102

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