Marine Technology Society Inc
- Assets
- $7.4m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 4
- Location
- Washington, DC
- Founding
- 08/1969
- Data as of
- 06/2023
- EIN
- 52-0805471
Organization Overview
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 06/2023, 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 06/2023, Marine Technology Society Inc generated $2.3m 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 (6.0%) each year. All expenses for the organization totaled $2.6m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (3.4%) 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
2023
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 DURING THE FISCAL YEAR.MTS SUPPORTS LOCAL SECTIONS, WHICH FOCUS ON EVENTS AND PROGRAMS UNIQUE TO THEIR SPECIFIC GEOGRAPHIC AREA IN THE UNITED STATES AND INTERNATIONALLY.IN ADDITION, MTS HAS APPROXIMATELY 31 PROFESSIONAL COMMITTEES REPRESENTING TECHNICAL INTEREST GROUPS THAT FACILITATE THE EXCHANGE AND TRANSFER OF TECHNICAL INFORMATION AMONG PROFESSIONALS FROM ACADEMIA, GOVERNMENT, AND INDUSTRY.
MEMBERSHIP: SUPPORT AND SERVICE TO MEMBERSTHE SOCIETY'S MEMBERS AND MEMBER COMPANIES WORK IN ALL ASPECTS OF MARINE TECHNOLOGY INCLUDING UNDERWATER IMAGING AND ENGINEERING; UNDERWATER VEHICLE DESIGN AND OPERATION; OCEAN OBSERVATION AND EXPLORATION; OCEANOGRAPHY AND METEOROLOGY; DIVING; MOORING TECHNOLOGY; REMOTE SENSING; OFFSHORE STRUCTURES; RENEWABLE ENERGY; MARINE PHYSICAL AND CYBER SECURITY; UNDERWATER ARCHAEOLOGY; DYNAMIC POSITIONING; MARINE LAW AND POLICY; AND MORE.MEMBERSHIP IN THE SOCIETY CREATES OPPORTUNITIES THROUGH NETWORKING, EVENTS, MENTORSHIPS, AND CAREER ADVANCEMENT.
PUBLICATIONS: DISTRIBUTION OF OCEAN AND MARINE TECHNOLOGY LITERATURE AND PERIODICALSTHE MARINE TECHNOLOGY SOCIETY JOURNAL IS THE SOCIETY'S FLAGSHIP PUBLICATION, WHICH HAS BEEN PUBLISHED UNDER ITS CURRENT TITLE SINCE 1969. THE JOURNAL INCLUDES THE HIGHEST CALIBER, PEER-REVIEWED PAPERS ON SUBJECTS INCLUDING MARINE TECHNOLOGY, OCEAN SCIENCE, MARINE POLICY, AND MORE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Justin Manley President | OfficerTrustee | 1 | $0 |
Zdenka Willis Past-President | OfficerTrustee | 1 | $0 |
Susan Hunt President-Elect | OfficerTrustee | 1 | $0 |
Jim Hanlon VP Of Research/industry & Technology | OfficerTrustee | 1 | $0 |
Liesl Hotaling VP Of Communications | OfficerTrustee | 1 | $0 |
Richard Crout VP Of Section Affairs | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,309 |
| All other contributions, gifts, grants, and similar amounts not included above | $51,911 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $112,220 |
| Total Program Service Revenue | $1,920,726 |
| Investment income | $114,260 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $2,729 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,941 |
| Net Income from Fundraising Events | $124,153 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,309,568 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $61,356 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $237,360 |
| Compensation of current officers, directors, key employees. | $74,131 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $338,713 |
| Pension plan accruals and contributions | $16,710 |
| Other employee benefits | $60,912 |
| Payroll taxes | $47,915 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,833 |
| Fees for services: Accounting | $133,381 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $10,567 |
| Fees for services: Other | $198,034 |
| Advertising and promotion | $9,677 |
| Office expenses | $118,814 |
| Information technology | $75,178 |
| Royalties | $0 |
| Occupancy | $23,378 |
| Travel | $233,185 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $940,794 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $13,268 |
| Insurance | $27,266 |
| All other expenses | $3,145 |
| Total functional expenses | $2,575,486 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,530,427 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $166,182 |
| 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 | $186,713 |
| Net Land, buildings, and equipment | $3,103 |
| Investments—publicly traded securities | $5,456,390 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $7,746 |
| Other assets | $0 |
| Total assets | $7,350,561 |
| Accounts payable and accrued expenses | $181,869 |
| Grants payable | $0 |
| Deferred revenue | $92,639 |
| 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 | $241,502 |
| Total liabilities | $516,010 |
| Net assets without donor restrictions | $6,776,191 |
| Net assets with donor restrictions | $58,360 |
| 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 | $7,350,561 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marine Technology Society Inc Washington, DC | $7,350,561 | $2,309,568 |
Ocean Visions Inc Leesburg, VA | $5,209,733 | $3,574,949 |
Marine Science Consortium Inc Wallops Island, VA | $12,314,765 | $2,892,410 |
Association For The Sciences Of Limnology And Oceanography Inc Washington, DC | $6,174,176 | $997,871 |
American Saltwater Guides Association Inc Washington, DC | $876,169 | $874,805 |
The Washington Dc Area Marine Aquarist Society Reston, VA | $128,850 | $281,664 |
Responsible Offshore Science Alliance Washington, DC | $992,518 | $665,000 |
Molluscan Science Foundation Inc Owings Mills, MD | $21,588,776 | $2,383,369 |
Consortium For Ocean Leadership Inc Washington, DC | $0 | $0 |
Crustacean Society Herndon, VA | $756,707 | $112,627 |
Foundation For Underwater Research And Education Inc Arlington, VA | $49,111 | $0 |
Ipac Marine Environmental Research Corporation Melfa, VA | $47,772 | $0 |
Center For Research On The Changing Earth System Clarksville, MD | $588 | $0 |