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Nonprofiteer
← OCEAN EXPLORATION TRUST INC

Form 990 for tax year 2022

Filed by OCEAN EXPLORATION TRUST INC.

Totals

Total revenue
$13,454,946
Total expenses
$14,376,842
Contributions and grants received
$11,380,622
Grants paid
$0
Program service revenue
$1,528,980
Investment income
$85,000
Other revenue
$460,344
Total assets, end of year
$12,779,785
Total liabilities, end of year
$5,258,730
Net assets or fund balances, end of year
$7,521,055
Program services expenses (Part IX)
$12,012,800
Management and general expenses
$2,225,503
Fundraising expenses
$138,539
Program service expenses (Part III)
$12,012,800

Program services were 83.6% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • DR ROBERT BALLARD

    PRESIDENT

    Total calculated
    $818,155
    From this org
    $765,685
    From related orgs
    $0
    Other
    $52,470
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $665,685
    Bonus
    $100,000
    Other
    not reported
    Deferred
    $50,000
    Nontaxable benefits
    $2,470
    Filer's total
    $818,155

  • ROBERT PATRICELLI

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • LARRY MAYER

    VICE CHAIRMA

    Total calculated
    $0
    Hours/week
    1

  • ARTHUR HOUSE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JACQUELINE HOLLISTER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DENISE H ARMSTRONG

    CFO/TREASURE

    Total calculated
    $293,579
    From this org
    $255,726
    From related orgs
    $0
    Other
    $37,853
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $215,726
    Bonus
    $40,000
    Other
    not reported
    Deferred
    $25,000
    Nontaxable benefits
    $12,853
    Filer's total
    $293,579

  • ALLISON FUNDIS

    COO/BOT SECR

    Total calculated
    $358,553
    From this org
    $325,474
    From related orgs
    $0
    Other
    $33,079
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $275,474
    Bonus
    $50,000
    Other
    not reported
    Deferred
    $25,000
    Nontaxable benefits
    $8,079
    Filer's total
    $358,553

  • PETER GIRGUIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN CULBERSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VICKI PHILLIPS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR ENRIC SALA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KRISTIN RECHBERGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BARBARA SMIT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • NEIL SMIT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MATTHEW KOSKELA

    DIRECTOR DAT

    Total calculated
    $148,366
    From this org
    $145,899
    From related orgs
    $0
    Other
    $2,467
    Hours/week
    40

  • ROBERT WATERS

    ROV PILOT/MA

    Total calculated
    $139,955
    From this org
    $131,827
    From related orgs
    $0
    Other
    $8,128
    Hours/week
    40

  • RICHARD DARLING

    CONTROLLER

    Total calculated
    $136,351
    From this org
    $123,669
    From related orgs
    $0
    Other
    $12,682
    Hours/week
    40

  • DANIEL WAGNER

    CHIEF SCIENT

    Total calculated
    $122,588
    From this org
    $110,549
    From related orgs
    $0
    Other
    $12,039
    Hours/week
    40

  • JANICE MEAGHER

    EXECUTIVE AS

    Total calculated
    $117,017
    From this org
    $114,415
    From related orgs
    $0
    Other
    $2,602
    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

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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

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.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • OET LLC

    HOLDING · SC · assets $6,175,747

Provenance

Return type
form_990
Tax year
2022
Filed
24 October 2023
IRS schema version
2022v5.0
Source object
202303119349301865

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