Ocean Institute
- Assets
- $14.1m
- Revenue
- $4.2m
- Investments
- $75.7k
- Employees
- 107
- Location
- Dana Point, CA
- Founding
- 07/1997
- Data as of
- 12/2023
- EIN
- 33-0203488
Organization Overview
Ocean Institute is located in Dana Point, CA. The organization was established in 1997. According to its NTEE Classification (X99) the organization is classified as: Religion-Related N.E.C., under the broad grouping of Religion-Related and related organizations. As of 12/2023, Ocean Institute employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocean 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 12/2023, Ocean Institute generated $4.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (4.5%) each year. All expenses for the organization totaled $5.2m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (3.0%) per year over the past 9 years. 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
THE OCEAN INSTITUTE PROVIDES EXPERIENTIAL EDUCATIONAL PROGRAMMING TO SCHOOLS, YOUTH GROUPS, AND THE PUBLIC TO DEVELOP KNOWLEDGE ABOUT THE OCEAN AND MARITIME HISTORY. WE EMBODY OUR MOTTO, "EXPERIENCE IS THE TEACHER" THROUGH FIELD TRIPS, SUMMER CAMP PROGRAMS, PUBLIC CRUISES AND EXHIBITS, SPECIAL EVENTS AND SPEAKERS, AND GUIDED TOURS ON AND AROUND OUR OCEANFRONT CAMPUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOOL AND YOUTH PROGRAMS AND PUBLIC LEARNING EXPERIENCE: OCEAN INSTITUTE PROVIDES HANDS-ON FIELD-TRIP PROGRAMS THAT ENGAGE STUDENTS IN LEARNING EXPERIENCES IN OUR LABS, ON THE WATER, AND IN THE LOCAL ENVIRONMENT. PROGRAMS TAKE PLACE ON CAMPUS IN OUR LEARNING LABS, ON THE WATER ON THE R/V SEA EXPLORER AND TALL SHIP SPIRIT, AND IN OUR LOCAL COASTAL ENVIRONMENT THAT INCLUDES UNIQUE GEOLOGICAL FEATURES, TIDEPOOLS, AND THE OCEAN INSTITUTE NATIVE PLANT GARDEN. OUR "OCEAN IN MOTION" VISITING VAN AND VIRTUAL FIELD TRIPS REACH STUDENTS WHO ARE UNABLE TO VISIT OUR CAMPUS, INCLUDING CHILDREN WITH SPECIAL NEEDS, CHILDREN'S HOSPITALS, AND HOMELESS SHELTERS. ADDITIONALLY, OCEAN INSTITUTE BELIEVES IN LIFELONG LEARNING AND OUR EXPERIENTIAL EDUCATIONIS ALSO OFFERED TO INDIVIDUALS, FAMILIES, PRIVATE GROUPS (FROM SCOUTS TO SENIORS), THROUGH OUR GENERAL ADMISSION AND SPECIAL EVENTS. VISITORS CAN SPEND A DAY VISITING OUR EXHIBITS AND TOUCH TANKS, SEARCH FOR MARINE MAMMALS ON THE R/V SEA EXPLORER CRUISE, SAIL ON THE TALL SHIP SPIRIT, OR JOIN OUR KAYAK, TIDEPOOL, AND GEOLOGY TOURS. SPECIAL EVENTS, INCLUDING MARITIME FEST, GIRLS ON OCEAN SCIENCE, THE MARINE & ENVIRONMENTAL SCIENCE COLLEGE FAIR, INTERN RESEARCH SYMPOSIUM, COASTAL CLEANUPS, AND DISTINGUISHED SPEAKER PRESENTATIONS PROVIDE MULTIPLE PATHWAYS TO LEARNING FOR THE GENERAL PUBLIC.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vipe Desai Chairman | OfficerTrustee | 1 | $0 |
Steve Harris Vice Chair | OfficerTrustee | 1 | $0 |
Jim Phillips Treasurer | OfficerTrustee | 1 | $0 |
Jeannine Smith Secretary | OfficerTrustee | 1 | $0 |
Jenna Kohnke Gaffney Director | Trustee | 1 | $0 |
Vic Hausmaninger Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elan Financial Services Visa Card | 12/30/23 | $242,631 |
Fohrman & Fohrman Inc Accounting Consulting | 12/30/23 | $133,013 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $253,645 |
| Related organizations | $0 |
| Government grants | $270,386 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,799,238 |
| Noncash contributions included in lines 1a–1f | $32,792 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,323,269 |
| Total Program Service Revenue | $1,886,407 |
| Investment income | $37,807 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$162,924 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $91,499 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,177,558 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $294,010 |
| Compensation of current officers, directors, key employees. | $21,714 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,799,828 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $190,149 |
| Payroll taxes | $155,352 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,394 |
| Fees for services: Other | $535,446 |
| Advertising and promotion | $26,208 |
| Office expenses | $87,947 |
| Information technology | $13,699 |
| Royalties | $0 |
| Occupancy | $197,870 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $25,162 |
| Interest | $22,259 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $906,555 |
| Insurance | $466,975 |
| All other expenses | $31,268 |
| Total functional expenses | $5,196,801 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,740,736 |
| Savings and temporary cash investments | $45,468 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $41,022 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $127,917 |
| Prepaid expenses and deferred charges | $325,744 |
| Net Land, buildings, and equipment | $9,726,679 |
| Investments—publicly traded securities | $1,053,470 |
| Investments—other securities | $75,663 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,136,699 |
| Accounts payable and accrued expenses | $256,069 |
| Grants payable | $0 |
| Deferred revenue | $392,726 |
| 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 | $500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $78,372 |
| Total liabilities | $1,227,167 |
| Net assets without donor restrictions | $11,617,694 |
| Net assets with donor restrictions | $1,291,838 |
| 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 | $14,136,699 |