Sea Research Foundation Inc
- Assets
- $52.1m
- Revenue
- $39.8m
- Investments
- $0.0
- Employees
- 380
- Location
- Mystic, CT
- Founding
- 12/1997
- Data as of
- 12/2021
- 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 12/2021, Sea Research Foundation Inc employed 380 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 12/2021, Sea Research Foundation Inc generated $39.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.8% each year. All expenses for the organization totaled $24.7m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Sea Research Foundation Inc has awarded 71 individual grants totaling $1,504,838. 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
2021
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 2021 THERE WERE APPROXIMATELY 775,000 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 2021 APPROXIMATELY 75,000 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 |
|---|---|---|---|
Stephen M Coan PHD President, CEO | OfficerTrustee | 38.75 | $606,609 |
Larry Rivarde Executive Vp, COO | Officer | 38.75 | $245,046 |
Allison Tuttle Svp, Zoological Operations | 38.75 | $207,350 | |
Koray Gurz Svp, CFO | Officer | 38.75 | $194,589 |
Katrina S Cubina Senior Vp, Mission Program | 38.75 | $179,742 | |
Tracy A Romano Vp, Biological Research & | 38.75 | $151,518 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ace Security Property Security Services | 12/30/21 | $226,156 |
Vertikal6 Inc It Services | 12/30/21 | $166,984 |
Regan Communications Group Marketing Services | 12/30/21 | $183,858 |
Anthony J Moffett Lobbying | 12/30/21 | $120,000 |
Watershed Results Llc Lobbying | 12/30/21 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $1,360,029 |
| Related organizations | $0 |
| Government grants | $14,008,071 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,251,920 |
| Noncash contributions included in lines 1a–1f | $286,740 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,620,020 |
| Total Program Service Revenue | $23,484,114 |
| Investment income | $5,062 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,896,442 |
| Net Income from Fundraising Events | -$519,805 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $39,772,478 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $98,209 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,149,853 |
| Compensation of current officers, directors, key employees. | $169,297 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,514,177 |
| Pension plan accruals and contributions | $104,259 |
| Other employee benefits | $2,884,592 |
| Payroll taxes | $638,606 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $495,830 |
| Fees for services: Accounting | $110,585 |
| Fees for services: Lobbying | $347,500 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,696,035 |
| Advertising and promotion | $1,385,469 |
| Office expenses | $843,905 |
| Information technology | $74,321 |
| Royalties | $0 |
| Occupancy | $1,454,945 |
| Travel | $149,500 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $251,018 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,003,724 |
| Insurance | $542,187 |
| All other expenses | $879,490 |
| Total functional expenses | $24,727,589 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,315,157 |
| Savings and temporary cash investments | $4,040,152 |
| Pledges and grants receivable | $590,132 |
| Accounts receivable, net | $365,768 |
| 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 | $462,098 |
| Net Land, buildings, and equipment | $32,875,006 |
| Investments—publicly traded securities | $10,061,646 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,401,683 |
| Total assets | $52,111,642 |
| Accounts payable and accrued expenses | $2,203,391 |
| Grants payable | $0 |
| Deferred revenue | $3,503,185 |
| 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 | $5,404,354 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $469,323 |
| Total liabilities | $11,580,253 |
| Net assets without donor restrictions | $38,996,108 |
| Net assets with donor restrictions | $1,535,281 |
| 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 | $52,111,642 |
Grants Awarded
Over the last fiscal year, Sea Research Foundation Inc has awarded $93,209 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Baltimore, MD PURPOSE: GENERAL SUPPORT | $50,000 |
Silver Spring, MD PURPOSE: GENERAL SUPPORT | $28,209 |
Waterford, CT PURPOSE: GENERAL SUPPORT | $15,000 |
Grants Recieved
Over the last fiscal year, we have identified 20 grants that Sea Research Foundation Inc has recieved totaling $956,343.
| Awarding Organization | Amount |
|---|---|
Vincent Dowling Family Foundation Inc Wilmington, DE PURPOSE: CHARITABLE EVENT | $500,000 |
The Fairholme Foundation Coral Gables, FL PURPOSE: GENERAL PURPOSE | $100,000 |
United Way Of Rhode Island Inc Providence, RI PURPOSE: DESIGNATED DONATION/GRANT | $57,050 |
Ayco Charitable Foundation Cohoes, NY PURPOSE: ENVIRONMENT & ANIMAL PROTECTION | $50,000 |
Scripps Family Fund For Education And The Arts Ft Mitchell, KY PURPOSE: NORTHEASTERN CONNECTICUT STEM EDUCATION PROGRAMS FOR EASTCONN SCHOOLS | $50,000 |
North American Association For Environmental Education Washington, DC PURPOSE: ENVIRONMENTAL EDUCATION PROJECTS | $38,713 |
Endowment Analysis
| Beg. Balance | $71 |
| Earnings | $67,423 |
| Net Contributions | $9,742,400 |
| Ending Balance | $9,809,894 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New England Aquarium Corporation Boston, MA | $97,527,148 | $52,802,901 |
Sea Research Foundation Inc Mystic, CT | $52,111,642 | $39,772,478 |
Commonwealth Zoological Corporation Boston, MA | $53,681,720 | $30,082,811 |
Zoological Society Of Buffalo Inc Buffalo, NY | $41,190,755 | $10,493,866 |
Rhode Island Zoological Society Providence, RI | $10,367,543 | $14,724,658 |
Staten Island Zoological Society Inc Staten Island, NY | $2,458,383 | $3,772,609 |
Niagara Aquarium Foundation Inc Niagara Falls, NY | $11,266,843 | $6,014,465 |
Connecticut Zoological Society Inc Bridgeport, CT | $17,127,613 | $7,458,891 |
Utica Zoological Society Utica, NY | $4,059,823 | $2,740,900 |
Buttonwood Park Zoological Society New Bedford, MA | $2,313,008 | $1,879,148 |
Southern Tier Zoological Society Inc Binghamton, NY | $2,721,469 | $1,642,589 |
Forest Park Zoological Society Inc Springfield, MA | $464,383 | $1,194,103 |