Waitt Institute is located in North Sioux City, SD. The organization was established in 2006. According to its NTEE Classification (A05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Waitt Institute 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 12/2022, Waitt Institute generated $6.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 34.9% each year . All expenses for the organization totaled $6.6m during the year ending 12/2022. While expenses have increased by 14.2% per year over the past 8 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE WAITT INSTITUTE CONDUCTED WORK RELATED TO SUSTAINABLE OCEAN PROGRAMS IN NINE COUNTRIES IN 2022: AZORES, ANTIGUA AND BARBUDA, BERMUDA, FEDERATED STATES OF MICRONESIA, FIJI, MALDIVES, SEYCHELLES, TONGA, AND SAMOA. THESE JOINTLY-FUNDED PROGRAMS PROVIDED FINANCIAL AND TECHNICAL SUPPORT TO OUR GOVERNMENT PARTNERS, WHO ADDITIONALLY PROVIDE IN-KIND SUPPORT TO ACHIEVE JOINT PROGRAM GOALS AS OUTLINED IN OUR MOUS WITH EACH GOVERNMENT.AZORES: WE SUPPORTED AN ISLAND-WIDE STAKEHOLDER SURVEY OF OCEAN USES TO INFORM THE MARINE SPATIAL PLAN AND PROTECTED AREAS. WE WORKED WITH THE GOVERNMENT AND LOCAL TEAM TO BEGIN DRAFTING THE LEGAL FRAMEWORK AND CONTINUED TO BUILD CAPACITY BY HIRING LOCAL STAFF TO SUPPORT THE WORK. ANTIGUA AND BARBUDA: WE CONTINUED TO SUPPORT CAPACITY BUILDING FOR BARBUDANGO, A LOCAL NGO THAT WORKS ON A VARIETY OF ENVIRONMENTAL ISSUES THROUGHOUT BARBUDA.
BERMUDA: WE RELEASED THE DRAFT BLUE PROSPERITY PLAN WHICH INCLUDED A MARINE SPATIAL PLAN THAT PROTECTS 20% OF BERMUDA'S WATERS. WE ADVANCED THE BLUE INVESTMENT FACILITY CONCEPT TO SUPPORT BLUE ECONOMY PROJECTS AND SUSTAINABLE OCEAN FINANCE. WE SUPPORTED EXTENSIVE COMMUNITY ENGAGEMENT THROUGH TOWN HALLS, HAPPY HOURS, DIGITAL CAMPAIGNS, AND POP-UP EVENTS. FEDERATED STATES OF MICRONESIA: WE SUPPORTED FINAL DRAFTING OF THE MARINE SPATIAL PLANNING BILL, WHICH WAS SUBMITTED TO CONGRESS. WE ALSO COMPLETED AN OCEAN USE SURVEY IN THE STATE OF KOSRAE. WE CONTINUED TO SUPPORT THE MICRONESIA CONSERVATION TRUST IN THEIR MARINE SPATIAL PLANNING WORK AND LOCAL ENGAGEMENT. FIJI: WE WORKED WITH OUR GOVERNMENT PARTNERS TO DEVELOP A 5-YEAR PROGRAM OF WORK AND BEGAN HIRING A LOCAL TEAM TO SUPPORT THE PROGRAM. WE SUPPORTED DRAFTING OF A LEGAL ASSESSMENT AND OPTIONS MEMO FOR MARINE SPATIAL PLANNING LEGISLATION.
FIJI (CONT.): WE BEGAN WORK ON A FISHERIES CHARACTERIZATION AND SUPPORTED A THREE-DAY TECHNICAL WORKSHOP THAT COVERED VARIOUS ASPECTS OF MARINE SPATIAL PLANNING SCIENCE AND ENGAGEMENT. MALDIVES: WE LAUNCHED AND COMPLETED A COMPREHENSIVE, ATOLL-WIDE OCEAN USE SURVEY TO INFORM THE MARINE SPATIAL PLAN AND PROTECTED AREAS. WE PROVIDED TECHNICAL SUPPORT FOR FINAL DRAFTING OF A MARINE SPATIAL PLANNING BILL AND TRANSLATION INTO LOCAL DHIVEHI. WE COMPLETED SPATIAL MODELING FOR OFFSHORE MARINE PROTECTED AREAS AND SUPPORTED AN ANALYSIS OF SEAFOOD MARKETS OPPORTUNITIES.SAMOA: WE LAUNCHED AND COMPLETED A SCIENTIFIC EXPEDITION WITH LOCAL PARTNERS THAT GATHERED DATA ON THE NEARSHORE. WE WORKED WITH LOCAL PARTNERS TO DEVELOP A COMMUNICATIONS STRATEGY, LOGO, AND WEBSITE FOR THE PROGRAM. WE SUPPORTED DEVELOPMENT OF A LEGAL MEMO THAT OUTLINED CURRENT MSP LEGISLATION AND POTENTIAL PATHS FORWARD TO ACHIEVE PROGRAM GOALS. WE ALSO COMPLETED THE SECOND ROUND OF CONSULTATIONS ON THE DRAFT MSP.
SEYCHELLES: WE CONTINUED OUR SUPPORT OF THE SEYCHELLES CONSERVATION AND CLIMATE ADAPTATION TRUST ("SEYCCAT", THE DESIGNATED ENTITY FOR NATIONAL OCEAN MANAGEMENT), IN THE PRODUCTION OF FINANCIAL PLANS FOR TWO MPA SITES AND A BLUE FINANCE ASSESSMENT AND IMPLEMENTATION PLAN. THE WAITT INSTITUTE'S BLUE ECONOMY TEAM ASSISTED THE WAITT FOUNDATION IN COORDINATING AND REVIEWING THE WORK WHICH WAS CONCLUDED IN 2022. TONGA: TONGA WAS HIT BY A MASSIVE EARTHQUAKE AND TSUNAMI IN JANUARY 2022 WHICH PUT OUR WORK ON HOLD FOR QUITE SOME TIME. WE PLANNED AND EXECUTED AN EXPEDITION IN TONGA'S NEARSHORE WATERS TO HELP EVALUATE THE IMPACTS OF THE DUAL NATURAL DISASTERS. WE ALSO HOSTED A LEGAL WORKSHOP TO GET INPUT ON THE DRAFT LEGISLATION FOR MARINE SPATIAL PLANNING AND BEGAN PLANNING FOR MSP IMPLEMENTATION. WE CONTINUED TO SUPPORT THE VAVA'U ENVIRONMENTAL PROTECTION ASSOCIATION IN THEIR MARINE SPATIAL PLANNING WORK AND COMMUNITY ENGAGEMENT.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Theodore W Waitt Chairman/director | 6 | $0 | |
Dave Russell Director | 0.5 | $0 | |
Shane Hartnett Director | 2 | $0 | |
Kathryn Mengerink Executive Director | 40 | $208,893 | |
Josh Sherer Treasurer | 2 | $0 | |
David Stoos Secretary | 2 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Robin Ramdeen | 12/30/16 | $64,500 |
Sustainable Ecology Strategies | 12/30/16 | $69,875 |
Statement of Revenue | |
---|---|
Contributions, Gifts, Grants & Similar | $6,824,425 |
Interest on Savings | $13,646 |
Dividends & Interest | $0 |
Net Rental Income | $0 |
Net Gain on Sale of Assets | -$475 |
Capital Gain Net Income | $0 |
Net ST Capital Gain | $0 |
Income Modifications | $0 |
Profit on Inventory Sales | $0 |
Other Income | $0 |
Total Revenue | $6,837,596 |
Statement of Expenses | |
---|---|
Compensation of officers, directors, trustees, etc | $239,356 |
Other employee salaries and wages | $2,190,267 |
Pension plans, employee benefits | $224,638 |
Interest | $0 |
Taxes | $178,497 |
Depreciation | $18,860 |
Occupancy | $101,856 |
Travel, conferences, and meetings | $933,687 |
Printing and publications | $198 |
Other expenses | $2,702,346 |
Total operating and administrative expenses | $6,601,073 |
Contributions, gifts, grants paid | $0 |
Total expenses and disbursements | $6,601,073 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $1,463,888 |
Net Accounts receivable | $72,217 |
Net Pledges Receivable | $0 |
Grants receivable | $0 |
Receivables from Officers, Directors, or Controlling Persons | $0 |
Net other notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $184,985 |
Net Investments - land, buildings, equipment | $0 |
Investments—mortgage loans | $0 |
Investments—other | $0 |
Net Land, buildings, and equipment | $39,977 |
Other assets | $0 |
Total assets | $1,761,258 |
Accounts payable and accrued expenses | $755,058 |
Grants payable | $0 |
Deferred revenue | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Mortgages and other notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $755,058 |