Virginia Aquarium & Marine Science Center Foundation Inc
- Assets
- $36.6m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Virginia Beach, VA
- Founding
- 01/1983
- Data as of
- 06/2024
- EIN
- 52-1272309
Organization Overview
Virginia Aquarium & Marine Science Center Foundation Inc is located in Virginia Beach, VA. The organization was established in 1983. According to its NTEE Classification (A57) the organization is classified as: Science & Technology Museums, 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. Virginia Aquarium & Marine Science Center 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 06/2024, Virginia Aquarium & Marine Science Center Foundation Inc generated $5.0m 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 (8.1%) each year. All expenses for the organization totaled $3.8m during the year ending 06/2024. You can explore the organizations financials more deeply in the financial statements section below.
Since 2022, Virginia Aquarium & Marine Science Center Foundation Inc has awarded 11 individual grants totaling $123,500. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO INSPIRE CONSERVATION OF THE MARINE ENVIRONMENT THROUGH EDUCATION, RESEARCH AND SUSTAINABLE PRACTICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROGRAM REVENUE- TO PROVIDE ENGAGING EDUCATIONAL EXPERIENCES THAT MEET THE NEEDS AND EXCEED THE EXPECTATIONS OF THE AQUARIUM'S DIVERSE AUDIENCES IN ORDER TO FOSTER OCEAN LITERACY AND INSPIRE CONSERVATION ACTION.
RESEARCH AND CONSERVATION - TO CONDUCT AND SUPPORT SCIENTIFIC RESEARCH AND STEWARDSHIP INITIATIVES IN ORDER TO PRODUCE AND DISSEMINATE KNOWLEDGE LEADING TO EFFECTIVE CONSERVATION OF THE MARINE ENVIRONMENT.
EXHIBITS- TO PRODUCE ENGAGING, IMMERSIVE EXHIBITS IN ORDER TO INSPIRE CONSERVATION ACTIONS BY CREATING EMOTIONAL CONNECTIONS BETWEEN GUESTS AND THE ANIMAL POPULATION AND ENHANCE UNDERSTANDING OF MARINE SCIENCE THROUGH HANDS-ON EXPLORATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel R Peterson Chairperson | OfficerTrustee | 2 | $0 |
Delceno C Miles Past Chair | OfficerTrustee | 2 | $0 |
Buffy Barefoot Treasurer | OfficerTrustee | 2 | $0 |
Walter D Worrall Chair Of Gov. And Devel. Comm | OfficerTrustee | 2 | $0 |
Carolyn Robertson Chair Of Mission & Advocacy Co | OfficerTrustee | 2 | $0 |
Thomas M Mcnicholas III V. Chair Of Mission & Advocacy | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
City Of Virginia Beach Pgrm Svc & Personnel | 6/29/24 | $991,347 |
Rover Dolphin Tours Tour Boat Services | 6/29/24 | $522,037 |
Abacus Corporation Contracted Labor | 6/29/24 | $200,125 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $180,215 |
| Related organizations | $0 |
| Government grants | $648,088 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,450,686 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,278,989 |
| Total Program Service Revenue | $1,370,509 |
| Investment income | $189,568 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $97,441 |
| Net Gain/Loss on Asset Sales | $314,049 |
| Net Income from Fundraising Events | $28,018 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,007,809 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $60,500 |
| Grants and other assistance to domestic individuals. | $16,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $667,354 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $217,167 |
| Payroll taxes | $45,374 |
| 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 | $56,953 |
| Fees for services: Other | $87,990 |
| Advertising and promotion | $32,607 |
| Office expenses | $52,158 |
| Information technology | $8,447 |
| Royalties | $0 |
| Occupancy | $6,081 |
| Travel | $10,198 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $79,561 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $843,493 |
| Insurance | $31,355 |
| All other expenses | $217,644 |
| Total functional expenses | $3,779,397 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $8,284,896 |
| Pledges and grants receivable | $419,362 |
| Accounts receivable, net | $359,612 |
| 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 | $326,750 |
| Net Land, buildings, and equipment | $17,643,829 |
| Investments—publicly traded securities | $9,526,297 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $36,560,746 |
| Accounts payable and accrued expenses | $306,700 |
| Grants payable | $0 |
| Deferred revenue | $74,019 |
| 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 | $0 |
| Total liabilities | $380,719 |
| Net assets without donor restrictions | $30,688,912 |
| Net assets with donor restrictions | $5,491,115 |
| 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 | $36,560,746 |
Grants Awarded
Over the last fiscal year, Virginia Aquarium & Marine Science Center Foundation Inc has awarded $60,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
OCEANIC SOCIETY EXPEDITIONS PURPOSE: SUPPORT OF SWOT | $18,500 |
THE LEATHERBACK TRUST PURPOSE: CABUYAL SEA TURTLE | $12,500 |
MONTEREY BAY AQUARIUM FOUNDATION PURPOSE: AQUARIUM | $10,000 |
ECOLIBRIUM INC PURPOSE: SUPPORT THE | $10,000 |
ASSOCIATION OF ZOOS & AQUARIUMS PURPOSE: SUPPORT SAFE | $9,500 |