Oceanographic Research & Exploration Foundation
- Assets
- $198.6m
- Revenue
- $31.4m
- Investments
- $0.0
- Employees
- 2
- Location
- Westport, CT
- Founding
- 05/2019
- Data as of
- 12/2022
- EIN
- 83-0757695
Organization Overview
Oceanographic Research & Exploration Foundation is located in Westport, CT. The organization was established in 2019. 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 12/2022, Oceanographic Research & Exploration Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oceanographic Research & Exploration Foundation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Oceanographic Research & Exploration Foundation generated $31.4m in total revenue. All expenses for the organization totaled $35.6m during the year ending 12/2022.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THROUGH A SERIES OF INTEGRATED PROGRAMS, OREF 1) SUPPORTS AND CONDUCTS SCIENTIFIC RESEARCH AND EXPLORATION OF THE EARTH'S OCEANS WITH A WORLD CLASS RESEARCH AND EXPLORATION SHIP AND PACKAGE OF EQUIPMENT, ENABLING SUCH SCIENTIFIC RESEARCH AND EXPLORATION; AND 2) DOCUMENTS AND DISTRIBUTES MEDIA AND OTHER DOCUMENTATION HIGHLIGHTING THAT SCIENTIFIC RESEARCH AND EXPLORATION TO PROMOTE PUBLIC AWARENESS, ENGAGEMENT AND PROTECTION OF THE OCEANS AND THE DIVERSE COMMUNITIES THEY SUPPORT. OREF MAY CARRY OUT ITS SOCIAL WELFARE PURPOSES DIRECTLY OR IN CONJUNCTION WITH OTHER ORGANIZATIONS, ENTITIES OR PARTNERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH INITIATIVE: CONDUCT RESEARCH AND EXPLORATION OF THE EARTH'S OCEANS AND FOSTER AND PROMOTE PUBLIC AWARENESS, ADVOCACY, SCIENTIFIC DISCOVERY, AND ENGAGEMENT TO FOSTER GREATER STEWARDSHIP AND PROTECTION OF THE OCEANS. COLLABORATE WITH LEADING SCIENTIFIC, MEDIA AND PHILANTHROPIC ORGANIZATIONS TO FURTHER SCIENTIFIC EXPLORATION OF THE OCEANS AND THEIR PROTECTION. THROUGH THESE COLLABORATIONS, OREF HAS AND WILL CONTINUE TO SCIENTIFICALLY EXPLORE THE OCEANS AND SUPPORT THE DOCUMENTATION OF THOSE SCIENTIFIC EXPLORATIONS AND DISCOVERIES. REFER TO SCHEDULE O FOR PROGRAM SERVICE ACCOMPLISHMENTS.
EDUCATION, ENGAGEMENT, AND AWARENESS: ENGAGE IN AND SUPPORT EDUCATIONAL AND AWARENESS-RAISING EFFORTS ON BEHALF OF OCEAN SCIENCE, PROTECTION, EXPLORATION, AND STEWARDSHIP. ENGAGING AND EDUCATING AUDIENCES GLOBALLY BY CREATING CAPTIVATING MEDIA IN MULTIPLE FORMATS AND ACROSS MULTIPLE CHANNELS ABOUT THE IMPORTANCE OF THE OCEANS AND THEIR PROTECTION, FOR THE BENEFIT OF PEOPLE GLOBALLY INCLUDING MARGINALIZED COMMUNITIES THAT DEPEND ON THE OCEAN FOR THEIR SUSTAINABILITY. REFER TO SCHEDULE O FOR PROGRAM SERVICE ACCOMPLISHMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Janine Racanelli Director Ex Officio, President | OfficerTrustee | 0.5 | $0 |
Mark Dalio Director, Secretary, Treasurer | OfficerTrustee | 1 | $0 |
Matthew Dalio Director | Trustee | 1 | $0 |
Gretchen Wagner Assistant Secretary | Officer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Equiom Marine Crew Services | 12/30/22 | $7,301,283 |
Damen Vessel Refit Services | 12/30/22 | $5,763,096 |
Marino Management Llc Back Office, Vessel Mgmt., Phil. Svcs. | 12/30/22 | $1,725,380 |
Precision Llc Helo Management Services | 12/30/22 | $1,178,509 |
Omni Access Vessel Satellite Communication Services | 12/30/22 | $962,423 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $10,000,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,000,000 |
| Total Program Service Revenue | $20,334,393 |
| Investment income | $598,460 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $13,403 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $29 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,428,615 |
| 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 | $500,000 |
| 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 | $23,700 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $623 |
| Payroll taxes | $17 |
| Fees for services: Management | $500,000 |
| Fees for services: Legal | $197,436 |
| Fees for services: Accounting | $123,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $11,970,769 |
| Advertising and promotion | $788,845 |
| Office expenses | $349,077 |
| Information technology | $1,406,460 |
| Royalties | $0 |
| Occupancy | $509,244 |
| Travel | $1,237,163 |
| 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 | $10,644,699 |
| Insurance | $1,369,103 |
| All other expenses | $958,312 |
| Total functional expenses | $35,625,551 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,858,722 |
| Savings and temporary cash investments | $39,597,083 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,397 |
| 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 | $0 |
| Net Land, buildings, and equipment | $155,671,815 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $15,586 |
| Other assets | $440,338 |
| Total assets | $198,595,941 |
| Accounts payable and accrued expenses | $113,121 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $113,121 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $198,482,820 |
| Total liabilities and net assets/fund balances | $198,595,941 |