Harbor Branch Oceanographic Institution Foundation Inc is located in Vero Beach, FL. The organization was established in 1977. 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, Harbor Branch Oceanographic Institution Foundation Inc employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harbor Branch Oceanographic Institution 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 06/2023, Harbor Branch Oceanographic Institution Foundation Inc generated $3.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.4%) each year. All expenses for the organization totaled $7.0m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Harbor Branch Oceanographic Institution Foundation Inc has awarded 35 individual grants totaling $27,108,160. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
HARBOR BRANCH OCEANOGRAPHIC INSTITUTE FOUNDATION PROVIDES FUNDING & SUPPORT TO HARBOR BRANCH OCEANOGRAPHIC INSTITUTE AT FAU FOR RESEARCH & EDUCATION (CONTINUED ON SCHEDULE O)
Describe the Organization's Program Activity:
Part 3 - Line 4a
HARBOR BRANCH OCEANOGRAPHIC INSTITUTE FOUNDATION, INC. IS THE LEGISLATIVELY-DESIGNATED RECIPIENT FROM THE STATE OF FLORIDA FOR AND ADMINISTERS THE FLORIDA "PROTECT WILD DOLPHINS", "PROTECT FLORIDA WHALES", "AQUACULTURE", AND "SAVE OUR SEAS" LICENSE PLATES ALONG WITH THE CALCULATED ANNUAL SPENDABLE FUNDING GENERATED FROM INVESTMENTS SUPPORT VETTED FINITE GRANTS SUBJECT TO SPECIFIED TERMS. SAID GRANT HELPED FUND THE ADDITION OF CERTAIN NEW FACULTY, PROVIDED FACULTY INCENTIVES, AND PROVIDED SALARY SUPPORT, RESEARCH PROJECTS, FELLOWSHIPS, AND CERTAIN OPERATIONAL SUPPORT AT THE HARBOR BRANCH OCEANOGRAPHIC INSTITUTE AT FAU.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Michael O'reilly Board Chair | OfficerTrustee | 1 | $0 |
Michael Toner Vice Chairman | OfficerTrustee | 1 | $0 |
Marjorie D Raines Treasurer | OfficerTrustee | 1 | $0 |
Will J Stewart ESQ Secretary/ex Officio | OfficerTrustee | 1 | $0 |
Michael Brown Sr Board Member | Trustee | 1 | $0 |
Joseph Z Duke III Board Member, Ex-Officio | Trustee | 1 | $0 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Atherton Galardi Mullen Reeder Legal | 6/29/23 | $396,933 |
Flare Media Agency Llc Advertising | 6/29/23 | $220,700 |
Boies Schiller Flexner Llp Legal | 6/29/23 | $219,899 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $3,079,228 |
All other contributions, gifts, grants, and similar amounts not included above | $7,371 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $3,086,599 |
Total Program Service Revenue | $0 |
Investment income | $2,283,258 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $66,365 |
Net Gain/Loss on Asset Sales | -$1,727,483 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $3,708,847 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $5,565,446 |
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. | $0 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $115,293 |
Pension plan accruals and contributions | $7,170 |
Other employee benefits | $0 |
Payroll taxes | $9,970 |
Fees for services: Management | $9,774 |
Fees for services: Legal | $577,874 |
Fees for services: Accounting | $120,802 |
Fees for services: Lobbying | $40,315 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $68,596 |
Fees for services: Other | $0 |
Advertising and promotion | $284,158 |
Office expenses | $0 |
Information technology | $13,201 |
Royalties | $0 |
Occupancy | $78,478 |
Travel | $6,393 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $10,244 |
Insurance | $100,107 |
All other expenses | $6,649 |
Total functional expenses | $7,022,912 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $6,224,522 |
Savings and temporary cash investments | $3,010,295 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $45,085 |
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 | $60,661 |
Net Land, buildings, and equipment | $647,879 |
Investments—publicly traded securities | $90,218,898 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $100,207,340 |
Accounts payable and accrued expenses | $137,527 |
Grants payable | $1,676,010 |
Deferred revenue | $0 |
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 | $1,813,537 |
Net assets without donor restrictions | $87,395,735 |
Net assets with donor restrictions | $10,998,068 |
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 | $100,207,340 |
Over the last fiscal year, Harbor Branch Oceanographic Institution Foundation Inc has awarded $4,424,996 in support to 5 organizations.
Grant Recipient | Amount |
---|---|
FLORIDA ATLANTIC UNIVERSITY PURPOSE: RESEARCH GRANTS | $4,388,366 |
CLEARWATER MARINE AQUARIUM PURPOSE: RESEARCH GRANTS | $10,000 |
BLUE WORLD RESEARCH INSTITUTE PURPOSE: RESEARCH GRANTS | $10,000 |
HUBBS-SEAWORLD RESEARCH INSTITUTE PURPOSE: RESEARCH GRANTS | $9,995 |
GULF WORLD MARINE INSTITUTE PURPOSE: RESEARCH GRANTS | $6,635 |