Gulf Specimen Marine Laboratories Inc
- Assets
- $1.6m
- Revenue
- $987.8k
- Investments
- $0.0
- Employees
- 19
- Location
- Panacea, FL
- Founding
- 01/1981
- Data as of
- 12/2022
- EIN
- 59-2021454
Organization Overview
Gulf Specimen Marine Laboratories Inc is located in Panacea, FL. The organization was established in 1981. According to its NTEE Classification (U50) the organization is classified as: Biological & Life Sciences, under the broad grouping of Science & Technology and related organizations. As of 12/2022, Gulf Specimen Marine Laboratories Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gulf Specimen Marine Laboratories 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 12/2022, Gulf Specimen Marine Laboratories Inc generated $987.8k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.5% each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. While expenses have increased by 5.6% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT MARINE RESEARCH AND EDUCATION PROVIDE COLLECTION AND STORAGE OF SPECIMENS FOR RESEARCH AND PROVIDE EDUCATIONAL TOURS
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACHIEVEMENT - MARINE RESEARCH AND EDUCATION SPECIMEN SALES - SUPPORTS MARINE RESEARCH BY PROVIDING MARINE SPECIMENS TO COLLEGES, UNIVERSITIES, AND PUBLIC AQUARIUMS.
ACHIEVEMENT - MARINE RESEARCH AND EDUCATION TOURS - SUPPORTS MARINE RESEARCH AND EDUCATION BY PROVIDING TOURS AND FIELD TRIPS TO THE GENERAL PUBLIC AND SCHOOL GROUPS, INCLUDING THE SEA-MOBILE TRAVELING EXHIBIT WHICH ALLOWS GULF SPECIMEN TO BRING THE LAB'S TOUCH TANKS TO SCHOOLS AND PUBLIC EVENTS.
ACHIEVEMENT - MARINE RESEARCH AND EDUCATION GIFT SHOP SALES - SALES OF EDUCATION PRODUCTS FROM THE GIFT SHOP ENCOURAGES CONTINUED AWARENESS OF MARINE ECOLOGY AND CONSERVATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jack J Rudloe President | Officer | 40 | $27,641 |
Cypress Rudloe Vicepresident | 40 | $54,529 | |
Sky Rudloe Director | Trustee | $0 | |
David Frisby Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $32,813 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $94,005 |
| All other contributions, gifts, grants, and similar amounts not included above | $156,948 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $283,766 |
| Total Program Service Revenue | $672,371 |
| Investment income | $66 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$44,615 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $69,649 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $987,835 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $76,879 |
| Compensation of current officers, directors, key employees. | $75,635 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $236,676 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $5,621 |
| Payroll taxes | $28,408 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,433 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $63,107 |
| Advertising and promotion | $22,467 |
| Office expenses | $18,030 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $120,622 |
| Travel | $6,907 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $10,093 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $118,730 |
| Insurance | $20,105 |
| All other expenses | $24,676 |
| Total functional expenses | $1,019,457 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $103,003 |
| Savings and temporary cash investments | $126,392 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,824 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $24,685 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,345,641 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $41,344 |
| Total assets | $1,649,889 |
| Accounts payable and accrued expenses | $21,810 |
| Grants payable | $0 |
| 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 | $26,826 |
| Other liabilities | $213,064 |
| Total liabilities | $261,700 |
| Net assets without donor restrictions | $1,325,826 |
| Net assets with donor restrictions | $62,363 |
| 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 | $1,649,889 |