Totals
- Total revenue
- $2,309,568
- Total expenses
- $2,575,486
- Contributions and grants received
- $112,220
- Grants paid
- $61,356
- Program service revenue
- $1,920,726
- Investment income
- $108,319
- Other revenue
- $168,303
- Total assets, end of year
- $7,350,561
- Total liabilities, end of year
- $516,010
- Net assets or fund balances, end of year
- $6,834,551
- Program services expenses (Part IX)
- $1,979,621
- Management and general expenses
- $595,865
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $1,979,621
Program services were 76.9% 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)
$60,309
-
1f · All other contributions, gifts and grants
$51,911
-
2a · Program service revenue: Conferences and meetings
total $1,769,484 · related or exempt $1,769,484
-
2b · Program service revenue: Membership dues
total $113,861 · related or exempt $113,861
-
2c · Program service revenue: Publications and Journals
total $33,958 · related or exempt $33,958
-
2d · Program service revenue: CURRENTS - MTS Newsletter
total $3,423 · unrelated business $3,423
-
3 · Investment income
total $114,260 · excluded $114,260
-
5 · Royalties
total $2,729 · excluded $2,729
-
7a · Gross sales of assets other than inventory
securities $1,222,465
-
7b · Less cost or other basis and sales expenses
securities $1,228,406
-
7c · Gain or loss
securities -$5,941
-
7d · Net gain or loss
total -$5,941 · excluded -$5,941
-
8a · Fundraising events: gross income
$243,128
-
8b · Fundraising events: direct expenses
$118,975
-
8c · Net income from fundraising events
total $124,153 · excluded $124,153
-
11a · Other revenue: Other revenue
total $41,421 · excluded $41,421
-
11e · Other revenue, total
$41,421
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $61,356 · program services $61,356
-
5 · Compensation of officers, directors and key employees
total $237,360 · program services $163,229 · management and general $74,131
-
7 · Other salaries and wages
total $338,713 · program services $232,929 · management and general $105,784
-
8 · Pension plan contributions
total $16,710 · program services $11,491 · management and general $5,219
-
9 · Other employee benefits
total $60,912 · program services $41,888 · management and general $19,024
-
10 · Payroll taxes
total $47,915 · program services $32,950 · management and general $14,965
-
11b · Fees: legal
total $25,833 · management and general $25,833
-
11c · Fees: accounting
total $133,381 · management and general $133,381
-
11f · Fees: investment management
total $10,567 · management and general $10,567
-
11g · Fees: other
total $198,034 · program services $131,905 · management and general $66,129
-
12 · Advertising and promotion
total $9,677 · program services $7,595 · management and general $2,082
-
13 · Office expenses
total $118,814 · program services $97,922 · management and general $20,892
-
14 · Information technology
total $75,178 · program services $32,685 · management and general $42,493
-
16 · Occupancy
total $23,378 · management and general $23,378
-
17 · Travel
total $233,185 · program services $222,438 · management and general $10,747
-
19 · Conferences, conventions and meetings
total $940,794 · program services $939,949 · management and general $845
-
22 · Depreciation, depletion and amortization
total $13,268 · management and general $13,268
-
23 · Insurance
total $27,266 · program services $139 · management and general $27,127
-
24a · Other expenses: Section rebates
total $3,145 · program services $3,145
Balance sheet
Part X, book values.
-
2 · Savings and temporary cash investments
beginning of year $948,059 · end of year $1,530,427
-
4 · Accounts receivable
beginning of year $790,981 · end of year $166,182
-
9 · Prepaid expenses and deferred charges
beginning of year $174,612 · end of year $186,713
-
10a · Land, buildings and equipment: cost or other basis
$15,904
-
10b · Land, buildings and equipment: accumulated depreciation
$12,801
-
10c · Land, buildings and equipment, net
beginning of year $1,872 · end of year $3,103
-
11 · Investments: publicly traded securities
beginning of year $5,197,794 · end of year $5,456,390
-
14 · Intangible assets
beginning of year $19,368 · end of year $7,746
-
17 · Accounts payable and accrued expenses
beginning of year $119,450 · end of year $181,869
-
19 · Deferred revenue
beginning of year $70,344 · end of year $92,639
-
25 · Other liabilities
beginning of year $267,166 · end of year $241,502
-
27 · Net assets without donor restrictions
beginning of year $6,639,491 · end of year $6,776,191
-
28 · Net assets with donor restrictions
beginning of year $36,235 · end of year $58,360
Mission and programs · 2022
Mission
Facilitate a broader understanding of the relevance of marine technology to wider global issues by enhancing the dissemination of marine technology information. Promote and improve marine technology and related educational programs. Advance the development of the tools and procedures required to explore, study and further the responsible and sustainable use of the oceans.
Activities or mission (Part I)
To promote awareness, understanding, advancement and application of marine technology.
-
Conferences and Workshops: Annual regional, local, and international conferences on matters relating to the ocean and marine technology. Additionally, MTS offered several free-of-charge webinars during the fiscal year.MTS supports local Sections, which focus on events and programs unique to their specific geographic area in the United States and internationally.In addition, MTS has approximately 31 Professional Committees representing technical interest groups that facilitate the exchange and transfer of technical information among professionals from academia, government, and industry.
Expenses $1,402,925 · Grants $57,556 · Revenue $1,769,484
-
Membership: Support and service to membersThe Society's members and member companies work in all aspects of marine technology including underwater imaging and engineering; underwater vehicle design and operation; ocean observation and exploration; oceanography and meteorology; diving; mooring technology; remote sensing; offshore structures; renewable energy; marine physical and cyber security; underwater archaeology; dynamic positioning; marine law and policy; and more.Membership in the Society creates opportunities through networking, events, mentorships, and career advancement.
Expenses $249,071 · Revenue $113,861
-
Publications: Distribution of ocean and marine technology literature and periodicalsThe Marine Technology Society Journal is the Society's flagship publication, which has been published under its current title since 1969. The Journal includes the highest caliber, peer-reviewed papers on subjects including marine technology, ocean science, marine policy, and more.
Expenses $118,310 · Revenue $33,958
-
Communications: provides news and information to members and the broader marine science and technology community on a variety of channels including newsletters, MTS's website, and social media.Currents is the Society's bi-monthly digital newsletter, focusing on society-wide and industry news and events, business announcements and information, scientific briefs and articles, and member news.
Expenses $115,607 · Revenue $3,423
-
Education programming: Other educational programs supporting the organization's mission.
Expenses $93,708 · Grants $3,800
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Justin Manley
President
- Total calculated
- $0
- Hours/week
- 1
-
Zdenka Willis
Past-President
- Total calculated
- $0
- Hours/week
- 1
-
Susan Hunt
President-Elect
- Total calculated
- $0
- Hours/week
- 1
-
Jim Hanlon
VP of Research/Industry & Technology
- Total calculated
- $0
- Hours/week
- 1
-
Liesl Hotaling
VP of Communications
- Total calculated
- $0
- Hours/week
- 1
-
Richard Crout
VP of Section Affairs
- Total calculated
- $0
- Hours/week
- 1
-
Debbi Kill
VP of Budget & Finance and Treasurer
- Total calculated
- $0
- Hours/week
- 1
-
Jerry Miller
VP of Government & Public Affairs
- Total calculated
- $0
- Hours/week
- 1
-
Josh Kohut
VP of Education
- Total calculated
- $0
- Hours/week
- 1
-
Katharine Weathers
VP of ECOP (began 1/1/23)
- Total calculated
- $0
- Hours/week
- 1
-
Alfredo Giron
VP of ECOP (ended 12/31/22)
- Total calculated
- $0
- Hours/week
- 1
-
Christopher Ostrander
Chief Executive Officer
- Total calculated
- $184,808
- From this org
- $161,354
- From related orgs
- $0
- Other
- $23,454
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $134,154
- Bonus
- $25,000
- Other
- $2,200
- Deferred
- $6,882
- Nontaxable benefits
- $16,572
- Filer's total
- $184,808
-
Kristina Norman
Senior Director Events & Operations
- Total calculated
- $137,598
- From this org
- $130,053
- From related orgs
- $0
- Other
- $7,545
- Hours/week
- 40
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
- 1a · Payments for business use of a personal residence
- 1b · Written policy on the line-1a expenses
- 3 · Compensation committee
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 2 · Substantiation required before reimbursing expenses
- 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 I, Line 1a
- Employees receive a $200 per month stipend (amount subject to change annually) as a remote-working allowance to cover office related costs. This is reported as taxable compensation on Form W-2.
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
- 2022
- Filed
- 14 March 2024
- IRS schema version
- 2022v5.0
- Source object
- 202430749349300608
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