Sea Education Association Inc
- Assets
- $23.3m
- Revenue
- $10.6m
- Investments
- $609.1k
- Employees
- 216
- Location
- Falmouth, MA
- Founding
- 07/1980
- Data as of
- 06/2023
- EIN
- 04-2702102
Organization Overview
Sea Education Association Inc is located in Falmouth, MA. The organization was established in 1980. According to its NTEE Classification (U21) the organization is classified as: Marine Science & Oceanography, under the broad grouping of Science & Technology and related organizations. As of 06/2023, Sea Education Association Inc employed 216 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sea Education Association Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Sea Education Association Inc generated $10.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $9.3m during the year ending 06/2023. While expenses have increased by 1.4% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
WINNER OF THE 2016 NATIONAL SCIENCE BOARD PUBLIC SERVICE AWARD, SEA EDUCATES AND INSPIRES OCEAN SCHOLARS, STEWARDS, AND LEADERS. SEA OFFERS HIGH SCHOOL AND UNDERGRADUATE STUDENTS AN ADVENTURE WITH A PURPOSE, COMBINING ACADEMIC STUDIES ON SHORE WITH HANDS-ON, FIELD-BASED LEARNING AT SEA ABOARD TALL SHIP RESEARCH VESSELS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
69 UNDERGRADUATES AND 9 GAP YEAR STUDENTS PARTICIPATED IN SEA SEMESTER PROGRAMS: BOSTON UNIVERSITY ACCREDITED STUDY ABROAD PROGRAMS FOCUSED ON THE OCEAN ENVIRONMENT. SEA SEMESTER STUDENTS ENROLLED FROM 16 COLLEGES AND UNIVERSITIES AND SEA AWARDED FINANCIAL ASSISTANCE TO 43% OF ENROLLED UNDERGRAD AND 11% OF GAP STUDENTS. GAP YEAR STUDENTS ARE CURRENTLY A GROWING PERCENTAGE OF ENROLLED STUDENTS. STUDENTS BEGIN THEIR STUDIES ON OUR CAMPUS IN WOODS HOLE, MA AND THEN JOIN ONE OF OUR TWO 134-FOOT SAIL TRAINING VESSELS FOR A SAILING RESEARCH EXPERIENCE IN THE ATLANTIC, PACIFIC, OR CARIBBEAN. WHILE AT SEA, STUDENTS ACT AS FULL MEMBERS OF THE SAILING CREW AND SCIENTIFIC TEAM, OPERATING ALL ASPECTS OF THE VESSEL WHILE COMPLETING SELF-DESIGNED RESEARCH PROJECTS IN A VARIETY OF DISCIPLINES.
117 STUDENTS FROM 103 SCHOOLS ATTENDED 6 HIGH SCHOOL PROGRAMS OFFERED DURING THE SUMMER OF 2022. ALL SESSIONS OFFERED THE OPPORTUNITY TO STUDY THE MARINE ENVIRONMENT FROM A VARIETY OF DIFFERENT PERSPECTIVES: SCIENTIFIC, HISTORICAL, LITERARY AND NAUTICAL. SEA AWARDED FINANCIAL ASSISTANCE TO 14% OF STUDENTS ENROLLED IN THE HIGH SCHOOL PROGRAMS.
SIX COLLABORATIVE PROGRAMS WERE HELD WITH WILLIAMS COLLEGE, THE UNIVERSITY OF CHICAGO, WOODS HOLE OCEANOGRAPHIC INSTITUTION, AND THE UNIVERSITY OF PENNSYLVANIA WHARTON SCHOOL OF BUSINESS. INHERENT IN THE ENVIRONMENT OF THE SAILING SCHOOL VESSEL, THE OPPORTUNITY FOR TEAM BUILDING AND LEADERSHIP SKILLS ARE BOTH ATTRACTIVE COMPONENTS FOR UNIVERSITIES IN A CHALLENGING ENVIRONMENT. THE COLLABORATIVE PROGRAMS ARE OFFERED IN THE ATLANTIC, PACIFIC, AND CARIBBEAN.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Wigglesworth President As Of 11/22; Outgoing Trustee | OfficerTrustee | 40 | $21,029 |
Jessica C Mcwade Trustee/chair | OfficerTrustee | 5 | $0 |
Richard W Cost Trustee/vice Chair | OfficerTrustee | 5 | $0 |
Jeremy R Salesin Trustee/vice Chair | OfficerTrustee | 5 | $0 |
Robert C Knapp Trustee/treasurer | OfficerTrustee | 5 | $0 |
Linda Cox Maguire Trustee/clerk | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $420,952 |
| All other contributions, gifts, grants, and similar amounts not included above | $6,293,684 |
| Noncash contributions included in lines 1a–1f | $89,332 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,714,636 |
| Total Program Service Revenue | $3,109,534 |
| Investment income | $161,560 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,739 |
| Net Gain/Loss on Asset Sales | $469,919 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,645,271 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $303,273 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $261,662 |
| Compensation of current officers, directors, key employees. | $49,715 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,581,536 |
| Pension plan accruals and contributions | $77,915 |
| Other employee benefits | $387,570 |
| Payroll taxes | $292,178 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,072 |
| Fees for services: Accounting | $28,360 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $63,000 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75,399 |
| Advertising and promotion | $27,292 |
| Office expenses | $229,155 |
| Information technology | $129,290 |
| Royalties | $0 |
| Occupancy | $415,222 |
| Travel | $437,056 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,254 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $710,326 |
| Insurance | $334,733 |
| All other expenses | $344,772 |
| Total functional expenses | $9,251,112 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $55,764 |
| Savings and temporary cash investments | $2,792,111 |
| Pledges and grants receivable | $264,347 |
| Accounts receivable, net | $883,222 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $176,148 |
| Net Land, buildings, and equipment | $10,870,871 |
| Investments—publicly traded securities | $7,696,900 |
| Investments—other securities | $609,131 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $23,348,494 |
| Accounts payable and accrued expenses | $352,248 |
| Grants payable | $0 |
| Deferred revenue | $1,980,212 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,332,460 |
| Net assets without donor restrictions | $12,569,163 |
| Net assets with donor restrictions | $8,446,871 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $23,348,494 |