Marine Technology Society Inc is located in Washington, DC. The organization was established in 1969. 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 06/2022, Marine Technology Society Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marine Technology Society 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 06/2022, Marine Technology Society Inc generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.7%) each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.4%) per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AWARENESS, UNDERSTANDING, ADVANCEMENT AND APPLICATION OF MARINE TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES AND WORKSHOPS: ANNUAL REGIONAL, LOCAL, AND INTERNATIONAL CONFERENCES ON MATTERS RELATING TO THE OCEAN AND MARINE TECHNOLOGY. ADDITIONALLY, MTS OFFERED SEVERAL FREE-OF-CHARGE WEBINARS IN FY 2022.
MEMBERSHIP SERVICES: SUPPORT AND SERVICE TO MEMBERS
PUBLICATIONS: DISTRIBUTION OF OCEAN AND MARINE TECHNOLOGY LITERATURE AND PERIODICALS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Kathleen Herndon Executive Dir. | Officer | 40 | $164,800 |
Kristina Norman Director Of Events | 40 | $112,923 | |
Debbi Kill VP Budget & Fin | OfficerTrustee | 1 | $0 |
Zdenka Willis President | OfficerTrustee | 1 | $0 |
Liesl Hotaling VP Communicat. | OfficerTrustee | 1 | $0 |
Justin Manley President Elect | OfficerTrustee | 1 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $295,291 |
All other contributions, gifts, grants, and similar amounts not included above | $1,505 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $296,796 |
Total Program Service Revenue | $1,407,765 |
Investment income | $94,214 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $24,689 |
Net Income from Fundraising Events | $57,175 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,889,360 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $32,884 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $189,213 |
Compensation of current officers, directors, key employees. | $85,146 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $281,864 |
Pension plan accruals and contributions | $13,545 |
Other employee benefits | $40,858 |
Payroll taxes | $39,315 |
Fees for services: Management | $0 |
Fees for services: Legal | $7,899 |
Fees for services: Accounting | $105,000 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $17,337 |
Fees for services: Other | $153,679 |
Advertising and promotion | $999 |
Office expenses | $41,886 |
Information technology | $80,530 |
Royalties | $0 |
Occupancy | $38,594 |
Travel | $107,032 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $479,830 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $14,737 |
Insurance | $20,575 |
All other expenses | $0 |
Total functional expenses | $1,776,751 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $948,059 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $790,981 |
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 | $174,612 |
Net Land, buildings, and equipment | $1,872 |
Investments—publicly traded securities | $5,197,794 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $19,368 |
Other assets | $0 |
Total assets | $7,132,686 |
Accounts payable and accrued expenses | $119,450 |
Grants payable | $0 |
Deferred revenue | $70,344 |
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 | $267,166 |
Total liabilities | $456,960 |
Net assets without donor restrictions | $6,639,491 |
Net assets with donor restrictions | $36,235 |
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 | $7,132,686 |
Over the last fiscal year, we have identified 2 grants that Marine Technology Society Inc has recieved totaling $11,000.
Awarding Organization | Amount |
---|---|
Schmidt Ocean Institute Palo Alto, CA PURPOSE: MARINE TECHNOLOGY SOCIETY SPONSORSHIP OCEANS (GLOBAL) STUDENT POSTER COMPETITION | $6,000 |
The Schmidt Family Foundation Palo Alto, CA PURPOSE: OCEAN STEWARDSHIP AND RESEARCH | $5,000 |
Organization Name | Assets | Revenue |
---|---|---|
Consortium For Ocean Leadership Inc Washington, DC | $4,687,674 | $4,673,668 |
Marine Technology Society Inc Washington, DC | $7,132,686 | $1,889,360 |
Marine Science Consortium Inc Wallops Island, VA | $12,768,305 | $1,791,311 |
The Washington Dc Area Marine Aquarist Society Reston, VA | $128,850 | $281,664 |
Responsible Offshore Science Alliance Washington, DC | $629,297 | $295,000 |
Ocean Visions Inc Leesburg, VA | $2,405,679 | $2,291,104 |
Molluscan Science Foundation Inc Owings Mills, MD | $17,270,125 | $2,816,927 |
Crustacean Society Herndon, VA | $915,214 | $104,058 |
Foundation For Underwater Research And Education Inc Haymarket, VA | $66,529 | $0 |
Ipac Marine Environmental Research Corporation Melfa, VA | $47,772 | $0 |
Center For Research On The Changing Earth System Clarksville, MD | $8,563 | $0 |