Form 990 for tax year 2023

Filed by OCEAN INSTITUTE.

Totals

Total revenue: $4,177,558
Total expenses: $5,196,801
Contributions and grants received: $2,323,269
Grants paid: $0
Program service revenue: $1,886,407
Investment income: $37,807
Other revenue: -$69,925
Total assets, end of year: $14,136,699
Total liabilities, end of year: $1,227,167
Net assets or fund balances, end of year: $12,909,532
Program services expenses (Part IX): $3,967,254
Management and general expenses: $842,156
Fundraising expenses: $387,391
Program service expenses (Part III): $3,967,254

Program services were 76.3% 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.

1c · Fundraising events

$253,645
1e · Government grants (contributions)

$270,386
1f · All other contributions, gifts and grants

$1,799,238
1g · Noncash contributions included above

$32,792
2a · Program service revenue: EDUCATIONAL PROGRAM FEES

total $1,598,729 · related or exempt $1,598,729
2b · Program service revenue: EDUCATIONAL CONFERENCE

total $287,678 · related or exempt $287,678
3 · Investment income

total $37,807 · excluded $37,807
7a · Gross sales of assets other than inventory

securities $362,970
7b · Less cost or other basis and sales expenses

securities $362,970
7c · Gain or loss

securities $0
8a · Fundraising events: gross income

$194,612
8a · Fundraising events: contributions included on line 1c

$253,645
8b · Fundraising events: direct expenses

$357,536
8c · Net income from fundraising events

total -$162,924 · excluded -$162,924
10a · Gross sales of inventory

$245,285
10b · Cost of goods sold

$153,786
10c · Net income from sales of inventory

total $91,499 · related or exempt $91,499
11a · Other revenue: MISCELLANEOUS REVENUE

total $1,500 · related or exempt $1,500
11e · Other revenue, total

$1,500

Functional expenses

Part IX, the statement of functional expenses.

5 · Compensation of officers, directors and key employees

total $294,010 · program services $251,314 · management and general $21,714 · fundraising $20,982
7 · Other salaries and wages

total $1,799,828 · program services $1,538,459 · management and general $132,926 · fundraising $128,443
9 · Other employee benefits

total $190,149 · program services $162,536 · management and general $14,043 · fundraising $13,570
10 · Payroll taxes

total $155,352 · program services $132,792 · management and general $11,473 · fundraising $11,087
11f · Fees: investment management

total $9,394 · management and general $9,394
11g · Fees: other

total $535,446 · program services $261,661 · management and general $217,461 · fundraising $56,324
12 · Advertising and promotion

total $26,208 · program services $21,103 · management and general $3,675 · fundraising $1,430
13 · Office expenses

total $87,947 · program services $25,920 · management and general $53,095 · fundraising $8,932
14 · Information technology

total $13,699 · program services $10,065 · management and general $2,107 · fundraising $1,527
16 · Occupancy

total $197,870 · program services $117,982 · management and general $55,437 · fundraising $24,451
19 · Conferences, conventions and meetings

total $25,162 · program services $18,227 · management and general $5,605 · fundraising $1,330
20 · Interest

total $22,259 · program services $20,375 · management and general $1,673 · fundraising $211
22 · Depreciation, depletion and amortization

total $906,555 · program services $626,949 · management and general $216,469 · fundraising $63,137
23 · Insurance

total $466,975 · program services $437,045 · management and general $14,482 · fundraising $15,448
24a · Other expenses: PROGRAM SERVICE COSTS

total $208,954 · program services $191,277 · management and general $10,737 · fundraising $6,940
24b · Other expenses: MAINTENANCE AND REPAIR

total $122,052 · program services $94,776 · management and general $13,198 · fundraising $14,078
24c · Other expenses: BANKING EXPENSE

total $74,971 · program services $48,259 · management and general $26,213 · fundraising $499
24d · Other expenses: IN-KIND EXPENSES

total $28,702 · program services $3,639 · management and general $15,618 · fundraising $9,445
24e · All other expenses

total $31,268 · program services $4,875 · management and general $16,836 · fundraising $9,557

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

end of year $2,740,736
2 · Savings and temporary cash investments

beginning of year $2,868,177 · end of year $45,468
3 · Pledges and grants receivable

beginning of year $17,500
4 · Accounts receivable

beginning of year $21,721 · end of year $41,022
8 · Inventories for sale or use

beginning of year $99,917 · end of year $127,917
9 · Prepaid expenses and deferred charges

beginning of year $83,457 · end of year $325,744
10a · Land, buildings and equipment: cost or other basis

$25,469,972
10b · Land, buildings and equipment: accumulated depreciation

$15,743,293
10c · Land, buildings and equipment, net

beginning of year $10,452,606 · end of year $9,726,679
11 · Investments: publicly traded securities

beginning of year $1,365,629 · end of year $1,053,470
12 · Investments: other securities

end of year $75,663
17 · Accounts payable and accrued expenses

beginning of year $184,353 · end of year $256,069
19 · Deferred revenue

beginning of year $319,093 · end of year $392,726
23 · Secured mortgages and notes payable

beginning of year $500,000 · end of year $500,000
25 · Other liabilities

beginning of year $0 · end of year $78,372
27 · Net assets without donor restrictions

beginning of year $12,588,417 · end of year $11,617,694
28 · Net assets with donor restrictions

beginning of year $1,317,144 · end of year $1,291,838

Mission and programs · 2023

Mission

THE OCEAN INSTITUTE'S MISSION IS "USING THE OCEAN AS OUR CLASSROOM, WE INSPIRE CHILDREN TO LEARN". OUR ORGANIZATION IS DEDICATED TO PROVIDING OCEAN AND MARITIME HISTORY LEARNING EXPERIENCES THROUGH HIGH-TOUCH REAL-WORLD PROGRAMS. WE HAVE A FIERCE COMMITMENT TO "ACCESS TO ENRICHMENT AND THROUGH OUR ADOPT-A-CLASS AND STUDENT AID PROGRAMS WE REMOVE FINANCIAL BARRIERS TO ENSURE SUCH ACCESS.

Activities or mission (Part I)

THE OCEAN INSTITUTE PROVIDES EXPERIENTIAL EDUCATIONAL PROGRAMMING TO SCHOOLS, YOUTH GROUPS, AND THE PUBLIC TO DEVELOP KNOWLEDGE ABOUT THE OCEAN AND MARITIME HISTORY. WE EMBODY OUR MOTTO, "EXPERIENCE IS THE TEACHER" THROUGH FIELD TRIPS, SUMMER CAMP PROGRAMS, PUBLIC CRUISES AND EXHIBITS, SPECIAL EVENTS AND SPEAKERS, AND GUIDED TOURS ON AND AROUND OUR OCEANFRONT CAMPUS.

SCHOOL AND YOUTH PROGRAMS AND PUBLIC LEARNING EXPERIENCE: OCEAN INSTITUTE PROVIDES HANDS-ON FIELD-TRIP PROGRAMS THAT ENGAGE STUDENTS IN LEARNING EXPERIENCES IN OUR LABS, ON THE WATER, AND IN THE LOCAL ENVIRONMENT. PROGRAMS TAKE PLACE ON CAMPUS IN OUR LEARNING LABS, ON THE WATER ON THE R/V SEA EXPLORER AND TALL SHIP SPIRIT, AND IN OUR LOCAL COASTAL ENVIRONMENT THAT INCLUDES UNIQUE GEOLOGICAL FEATURES, TIDEPOOLS, AND THE OCEAN INSTITUTE NATIVE PLANT GARDEN. OUR "OCEAN IN MOTION" VISITING VAN AND VIRTUAL FIELD TRIPS REACH STUDENTS WHO ARE UNABLE TO VISIT OUR CAMPUS, INCLUDING CHILDREN WITH SPECIAL NEEDS, CHILDREN'S HOSPITALS, AND HOMELESS SHELTERS. ADDITIONALLY, OCEAN INSTITUTE BELIEVES IN LIFELONG LEARNING AND OUR EXPERIENTIAL EDUCATIONIS ALSO OFFERED TO INDIVIDUALS, FAMILIES, PRIVATE GROUPS (FROM SCOUTS TO SENIORS), THROUGH OUR GENERAL ADMISSION AND SPECIAL EVENTS. VISITORS CAN SPEND A DAY VISITING OUR EXHIBITS AND TOUCH TANKS, SEARCH FOR MARINE MAMMALS ON THE R/V SEA EXPLORER CRUISE, SAIL ON THE TALL SHIP SPIRIT, OR JOIN OUR KAYAK, TIDEPOOL, AND GEOLOGY TOURS. SPECIAL EVENTS, INCLUDING MARITIME FEST, GIRLS ON OCEAN SCIENCE, THE MARINE & ENVIRONMENTAL SCIENCE COLLEGE FAIR, INTERN RESEARCH SYMPOSIUM, COASTAL CLEANUPS, AND DISTINGUISHED SPEAKER PRESENTATIONS PROVIDE MULTIPLE PATHWAYS TO LEARNING FOR THE GENERAL PUBLIC.

Expenses $3,967,254 · Revenue $1,886,407

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

VIPE DESAI

CHAIRMAN

Total calculated

$0

Hours/week

1
STEVE HARRIS

VICE CHAIR

Total calculated

$0

Hours/week

1
JIM PHILLIPS

TREASURER

Total calculated

$0

Hours/week

1
JEANNINE SMITH

SECRETARY

Total calculated

$0

Hours/week

1
JENNA KOHNKE GAFFNEY

DIRECTOR

Total calculated

$0

Hours/week

1
VIC HAUSMANINGER

DIRECTOR

Total calculated

$0

Hours/week

1
DOUG CICIONE

DIRECTOR

Total calculated

$0

Hours/week

1
COLLIE JAMES IV

DIRECTOR

Total calculated

$0

Hours/week

1
MIKE KILLEBREW

DIRECTOR

Total calculated

$0

Hours/week

1
TODD LARSON

DIRECTOR

Total calculated

$0

Hours/week

1
KEN PETERSON

DIRECTOR

Total calculated

$0

Hours/week

1
BRIAN SKELTON

DIRECTOR

Total calculated

$0

Hours/week

1
CHARLIE STEINMETZ

DIRECTOR

Total calculated

$0

Hours/week

1
KELLY STEWARD

DIRECTOR

Total calculated

$0

Hours/week

1
JILL TRACY

DIRECTOR

Total calculated

$0

Hours/week

1
TOM TURNER

DIRECTOR

Total calculated

$0

Hours/week

1
KERSTIN WOODS V

DIRECTOR

Total calculated

$0

Hours/week

1
LYNDA ZADRA-SYMES

DIRECTOR

Total calculated

$0

Hours/week

1
MIKE FROST

GOVERNMENT REPRESENTATIVE

Total calculated

$0

Hours/week

1
KATRINA FOLEY

GOVERNMENT REPRESENTATIVE

Total calculated

$0

Hours/week

1
JUAN GONZALEZ

ALTERNATIVE

Total calculated

$0

Hours/week

1
WENDY LEAVELL

PRESIDENT & CEO

Total calculated

$294,010

From this org

$271,147

From related orgs

$0

Other

$22,863

Hours/week

40

Schedule J breakdown matched by us

Base

$235,747

Bonus

$35,400

Other

$0

Deferred

$22,579

Nontaxable benefits

$284

Filer's total

$294,010

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

None.

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

The filer's explanations (Part III)

PART 1, LINE 3:: COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS DURING THE ANNUAL BUDGET PROCESS. COMPENSATION IS DETERMINED BASED ON COMPARATIVE DATA PROVIDED BY SALARY SURVEYS AND OTHER APPROPRIATE SOURCES.
PART 1, LINE 5:: THE BOARD PROVIDED GOALS FOR THE CEO BASED ON DOLLARS RAISED. BASED ON THE THRESHOLDS, THE CEO COULD EARN FROM A 5% TO 15% PERFORMANCE 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

No itemized grants to organizations on this return.

Provenance

Return type: form_990
Tax year: 2023
Filed: 24 June 2024
IRS schema version: 2023v5.1
Source object: 202421779349301117

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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