Sea Research Foundation Inc
- Assets
- $59.6m
- Revenue
- $32.6m
- Investments
- $0.0
- Employees
- 347
- Location
- Mystic, CT
- Founding
- 12/1997
- Data as of
- 12/2023
- EIN
- 06-1480300
Organization Overview
Sea Research Foundation Inc is located in Mystic, CT. The organization was established in 1997. According to its NTEE Classification (D50) the organization is classified as: Zoos & Aquariums, under the broad grouping of Animal-Related and related organizations. As of 12/2023, Sea Research Foundation Inc employed 347 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sea Research Foundation 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 12/2023, Sea Research Foundation Inc generated $32.6m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.2% each year. All expenses for the organization totaled $29.6m during the year ending 12/2023. While expenses have increased by 1.8% per year over the past 9 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.
Since 2014, Sea Research Foundation Inc has awarded 74 individual grants totaling $1,634,347. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE PEOPLE TO CARE FOR AND PROTECT OUR OCEAN PLANET THROUGH EDUCATION AND RESEARCH
Describe the Organization's Program Activity:
THE ORGANIZATION OPERATES AN AQUARIUM WHICH IS OPEN TO THE GENERAL PUBLIC, PROGRAMS INCLUDE ANIMAL HUSBANDRY AND REHABILITATION FOR MARINE MAMMALS, PENGUINS, FISHES AND AQUATIC INVERTEBRATES. DURING 2023 THERE WERE APPROXIMATELY 800,000 VISITORS THAT CAME TO THE AQUARIUM.
THE ORGANIZATION ALSO SUPPORTS EDUCATION AND RESEARCH PROGRAMS AT THE AQUARIUM, AND THROUGH TRAVELING TEACHERS' PROGRAMS TO STUDENTS AND THEIR SCHOOLS. DURING THE CALENDAR YEAR 2023 APPROXIMATELY 85,000 STUDENTS BENEFITED FROM THE EDUCATION AND RESEARCH PROGRAMS.
OTHER VISITOR SERVICES PROVIDED BY THE ORGANIZATION PROMOTING EDUCATION, RESEARCH, AND LEARNING ABOUT OUR OCEAN PLANET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alex Marku Board Member | Trustee | 1 | $0 |
Antonio Roberto Board Member | Trustee | 1 | $0 |
Cecilie Jedlicka Board Member | Trustee | 1 | $0 |
Dr George M Milne Jr Chairman | OfficerTrustee | 5 | $0 |
Dr Sarah Kelly Board Member | Trustee | 1 | $0 |
Ed Cassidy Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carlin Construction Company Construction Services | 12/30/23 | $2,167,743 |
Power Posse Productions Lcc Marketing Services | 12/30/23 | $267,961 |
Men Of Action Llc Construction Services | 12/30/23 | $228,563 |
Ace Security Property Security Services | 12/30/23 | $189,500 |
Vertikal6 Inc It Services | 12/30/23 | $188,603 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $466,697 |
| Related organizations | $0 |
| Government grants | $6,797,169 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,517,230 |
| Noncash contributions included in lines 1a–1f | $264,075 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,781,096 |
| Total Program Service Revenue | $23,607,874 |
| Investment income | $467,891 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$326,713 |
| Net Income from Fundraising Events | -$34,335 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $32,556,466 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $112,448 |
| Grants and other assistance to domestic individuals. | $21,006 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $656,999 |
| Compensation of current officers, directors, key employees. | $75,377 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,856,966 |
| Pension plan accruals and contributions | $112,432 |
| Other employee benefits | $2,308,533 |
| Payroll taxes | $33,384 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $300,704 |
| Fees for services: Accounting | $109,565 |
| Fees for services: Lobbying | $220,250 |
| Fees for services: Fundraising | $120,000 |
| Fees for services: Investment Management | $82,570 |
| Fees for services: Other | $1,689,506 |
| Advertising and promotion | $880,757 |
| Office expenses | $1,114,294 |
| Information technology | $82,457 |
| Royalties | $0 |
| Occupancy | $1,563,394 |
| Travel | $248,363 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $229,000 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,391,621 |
| Insurance | $395,799 |
| All other expenses | $697,845 |
| Total functional expenses | $29,598,065 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $998,178 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $354,162 |
| Accounts receivable, net | $334,314 |
| 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 | $338,259 |
| Net Land, buildings, and equipment | $32,445,412 |
| Investments—publicly traded securities | $20,579,845 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $121,828 |
| Other assets | $4,381,464 |
| Total assets | $59,553,462 |
| Accounts payable and accrued expenses | $2,527,609 |
| Grants payable | $0 |
| Deferred revenue | $2,027,929 |
| 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 | $7,767,492 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $223,205 |
| Total liabilities | $12,546,235 |
| Net assets without donor restrictions | $45,623,833 |
| Net assets with donor restrictions | $1,383,394 |
| 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 | $59,553,462 |
Grants Awarded
Over the last fiscal year, Sea Research Foundation Inc has awarded $107,448 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ASSOCIATION OF ZOOS AND AQUARIUMS PURPOSE: GENERAL SUPPORT | $33,448 |
CHAMBER OF COMMERCE PURPOSE: GENERAL SUPPORT | $45,000 |
GREATER MYSTIC CHAMBER OF COMMERCE PURPOSE: GENERAL SUPPORT | $29,000 |