The North Carolina Aquarium Society
- Assets
- $41.1m
- Revenue
- $12.8m
- Investments
- $4.0m
- Employees
- 133
- Location
- Raleigh, NC
- Founding
- 08/1986
- Data as of
- 12/2023
- EIN
- 56-1512990
Organization Overview
The North Carolina Aquarium Society is located in Raleigh, NC. The organization was established in 1986. According to its NTEE Classification (D11) the organization is classified as: Single Organization Support, under the broad grouping of Animal-Related and related organizations. As of 12/2023, North Carolina Aquarium Society employed 133 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Aquarium Society 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, North Carolina Aquarium Society generated $12.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $7.6m during the year ending 12/2023. While expenses have increased by 1.7% 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.
Since 2015, North Carolina Aquarium Society has awarded 46 individual grants totaling $16,656,023. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
INSPIRING APPRECIATION AND CONSERVATION OF OUR AQUATIC ENVIRONMENTS.
Describe the Organization's Program Activity:
AQUARIUM SUPPORT: THE AQUARIUM SOCIETY PROVIDES SUPPORT FOR NUMEROUS PROJECTS AT THE THREE NC AQUARIUMS AND ONE PIER SUCH AS NEW EXHIBITS, EDUCATIONAL PROGRAMS, LECTURE SERIES, WORKSHOPS, ETC. AQUARIUM SOCIETY EMPLOYEES ALLOCATE SIGNIFICANT PORTIONS OF THEIR TIME AND ENERGY IN DIRECT AND INDIRECT AQUARIUM SUPPORT.
GIFT SHOP: THE AQUARIUM SOCIETY OWNS AND OPERATES FOUR GIFT SHOPS THAT PROVIDE VISITORS MERCHANDISE SUCH AS BOOKS, FIELD GUIDES, GAMES, AND PUZZLES THAT REINFORCE THE AQUARIUM'S EDUCATIONAL MISSION.
MEMBERSHIP DEVELOPMENT: THE AQUARIUM SOCIETY MANAGES MEMBERSHIP PROGRAMS FOR THE AQUARIUMS AND PIER, WITH CATEGORIES FOR INDIVIDUALS, COUPLES, FAMILIES AND BUSINESSES. MEMBERS RECEIVE FREE ADMISSION, PROGRAM DISCOUNTS AND OTHER BENEFITS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Drew Covert Chairman | OfficerTrustee | 2 | $0 |
Hope Williams Chairman | OfficerTrustee | 2 | $0 |
Ronnie Sloan Treasurer | OfficerTrustee | 2 | $0 |
Deborah Albert Board Member | Trustee | 0.5 | $0 |
Harry Archer Board Member | Trustee | 0.5 | $0 |
Bill Belk Board Member | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
C&k Systems Inc Technology Support Services | 12/30/23 | $134,685 |
Hanes Consulting Llc Fundraising Consulting To Nonprofits | 12/30/23 | $121,388 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,820,999 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,092,581 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,208,103 |
| Noncash contributions included in lines 1a–1f | $51,023 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,121,683 |
| Total Program Service Revenue | $571,503 |
| Investment income | $561,159 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$117,147 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $5,575,359 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,761,579 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,548,179 |
| 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. | $484,385 |
| Compensation of current officers, directors, key employees. | $266,525 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,943,277 |
| Pension plan accruals and contributions | $146,299 |
| Other employee benefits | $258,583 |
| Payroll taxes | $194,410 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $48,165 |
| Fees for services: Lobbying | $45,000 |
| Fees for services: Fundraising | $186,976 |
| Fees for services: Investment Management | $71,108 |
| Fees for services: Other | $68,052 |
| Advertising and promotion | $62,754 |
| Office expenses | $524,893 |
| Information technology | $321,166 |
| Royalties | $0 |
| Occupancy | $151,014 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $214,225 |
| Interest | $284,692 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $718,640 |
| Insurance | $65,785 |
| All other expenses | $13,554 |
| Total functional expenses | $7,606,049 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $890,348 |
| Savings and temporary cash investments | $6,021,517 |
| Pledges and grants receivable | $1,051,496 |
| Accounts receivable, net | $354,733 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $996,838 |
| Prepaid expenses and deferred charges | $197,776 |
| Net Land, buildings, and equipment | $14,470,835 |
| Investments—publicly traded securities | $12,916,649 |
| Investments—other securities | $3,963,918 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $196,760 |
| Total assets | $41,060,870 |
| Accounts payable and accrued expenses | $637,652 |
| Grants payable | $0 |
| Deferred revenue | $82,289 |
| Tax-exempt bond liabilities | $5,479,697 |
| 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 | $3,344,972 |
| Total liabilities | $9,544,610 |
| Net assets without donor restrictions | $27,336,421 |
| Net assets with donor restrictions | $4,179,839 |
| 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 | $41,060,870 |
Grants Awarded
Over the last fiscal year, The North Carolina Aquarium Society has awarded $1,548,179 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
NORTH CAROLINA AQUARIUM AT ROANOKE ISLAND PURPOSE: Society provides support for numerous projects at aquarium such as new exhibits, educational programs, conservation and sustainability efforts, etc. | $322,946 |
NORTH CAROLINA AQUARIUM AT PINE KNOLL SHORES PURPOSE: Society provides support for numerous projects at aquarium such as new exhibits, educational programs, conservation and sustainability efforts, etc. | $407,810 |
NORTH CAROLINA AQUARIUM AT FORT FISHER PURPOSE: Society provides support for numerous projects at aquarium such as new exhibits, educational programs, conservation and sustainability efforts, etc. | $301,207 |
JENNETTE'S PIER PURPOSE: Society provides support for numerous projects at aquarium such as new exhibits, educational programs, conservation and sustainability efforts, etc. | $161,210 |
NORTH CAROLINA DEPARTMENT OF NATURAL AND CULTURAL RESOURCES PURPOSE: Society provides support for numerous projects at the division level such as conservation efforts, professional fees, personnel supplements, educational programs, workshops, etc. | $355,006 |