Bermuda Institute of Ocean Sciences Bios
Bermuda Institute of Ocean Sciences Bios reported $16.9 million in revenue and $18.0 million in expenses for calendar year 2024. Of every $100 it spent, $88.10 went to program services, $10.85 to management and general costs and $1.05 to fundraising. Its largest source of revenue was contributions and grants: 70.6% of the total. Government grants made up 57.5%. The highest compensation it reported for one person was $1,167,038 (TRUSTEE). 9 people received more than $100,000 in reportable compensation. Revenue rose 33% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $18MFor context, the median across 192 covered science & technology charities: $84.33 programs, $15.67 management, $0.00 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $17MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 88.1% | 83.2% |
| Management & general Part IX 25(C) ÷ 25(A) | 10.9% | 15.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 1.0% | 0.0% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.02 | $0.00 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 70.6% | 51.6% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 57.5% | 3.2% |
| Program service revenue share Part VIII 2g ÷ 12 | 7.5% | 19.2% |
| Highest reported compensation Part VII-A, columns D–F | $1,167,038 | $513,729 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 6.47% | 1.72% |
| People paid over $100,000 Part VII, line 2 | 9 | 27 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 27.0 | 14.7 |
| Independent voting board members Part VI 1a–1b | 13 of 18 | 94.3% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseHighest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| TRUSTEE Director/trustee, 2.00 hrs/week | $0 | $1,104,247 | $62,791 | $1,167,038 |
| VICE-CHAIR Director/trustee, 1.00 hrs/week | $0 | $986,705 | $58,652 | $1,045,357 |
| TRUSTEE Director/trustee, 1.00 hrs/week | $0 | $613,907 | $41,135 | $655,042 |
| TRUSTEE Director/trustee, 2.00 hrs/week | $0 | $533,745 | $29,897 | $563,642 |
| TRUSTEE Director/trustee, 0.50 hrs/week | $0 | $403,800 | $30,107 | $433,907 |
| PRESIDENT AND CEO Officer, 40.00 hrs/week | $341,000 | $0 | $0 | $341,000 |
| VICE-CHAIR (UNTIL NOV 2024) Director/trustee, 1.00 hrs/week | $0 | $280,637 | $58,249 | $338,886 |
| SENIOR SCIENTIST & DIRECTO Highest compensated employee, 40.00 hrs/week | $235,506 | $10,000 | $12,275 | $257,781 |
9 people received more than $100,000 in reportable compensation from Bermuda Institute of Ocean Sciences Bios (Part VII, line 2). Compensation of current officers, directors and key employees totaled $1.7M (Part IX, line 5).
6 years of filings
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b18 · 13 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13Yes
- Document retention policy Part VI 14Yes
- Independent process for top executive pay Part VI 15aYes
- Board given the 990 before filing Part VI 11aYes
- Family or business ties among insiders Part VI 2Yes
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4No
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bYes
- Employees Part I, line 529
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| BERNHARD SCHULTE SHIPMANAGEMENT Ship management services (crew) | $501,168 |
| JR'S PAINTING & MAINTENANCE Painter - campus painting | $145,820 |
Individuals listed as contractors are left out. 4 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from Bermuda Institute of Ocean Sciences Bios's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Bermuda Institute of Ocean Sciences Bios, you can publish a response that is linked from this page.
Share or embed this breakdown
Of every $100 Bermuda Institute of Ocean Sciences Bios spent in 2024, $88.10 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Bermuda Institute of Ocean Sciences Bios's spending goes to programs?
In calendar year 2024, Bermuda Institute of Ocean Sciences Bios reported that 88.1% of its $18.0 million in expenses went to program services, 10.9% to management and general and 1.0% to fundraising (Form 990, Part IX).
How much does Bermuda Institute of Ocean Sciences Bios pay its top executive?
The largest total compensation Bermuda Institute of Ocean Sciences Bios reported for one person in calendar year 2024 was $1,167,038, for the role of TRUSTEE (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Bermuda Institute of Ocean Sciences Bios get its money?
Of $16.9 million in revenue in calendar year 2024, 70.6% came from contributions and grants (including 57.5% from government grants) and 7.5% from program service revenue (Form 990, Part VIII).
Is Bermuda Institute of Ocean Sciences Bios a registered charity?
The IRS lists EIN 06-0706038 as a 501(c)(3) organization (publicly supported organization (509(a)(2))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202523079349301957 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202433189349303133 · read the filing
- 2022: Form 990 for calendar year 2022, object 202333199349327298 · read the filing
- 2021: Form 990 for calendar year 2021, object 202203199349327145 · read the filing
- 2020: Form 990 for calendar year 2020, object 202103169349308890 · read the filing
- 2019: Form 990 for calendar year 2019, object 202043219349320839 · read the filing
All filings for EIN 06-0706038: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.