Ocean Exploration Trust
Ocean Exploration Trust reported $19.3 million in revenue and $16.5 million in expenses for calendar year 2024. Of every $100 it spent, $80.35 went to program services, $18.70 to management and general costs and $0.95 to fundraising. Its largest source of revenue was contributions and grants: 86.5% of the total. Government grants made up 63.2%. The highest compensation it reported for one person was $669,456 (PRESIDENT). 10 people received more than $100,000 in reportable compensation. Revenue rose 62% between 2019 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $16MFor context, the median across 371 covered environment charities: $85.82 programs, $10.80 management, $3.38 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 $19MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 80.4% | 83.6% |
| Management & general Part IX 25(C) ÷ 25(A) | 18.7% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.9% | 3.3% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.01 | $0.03 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 86.5% | 87.6% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 63.2% | 4.8% |
| Program service revenue share Part VIII 2g ÷ 12 | 13.4% | 3.2% |
| Highest reported compensation Part VII-A, columns D–F | $669,456 | $293,532 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 4.06% | 1.74% |
| People paid over $100,000 Part VII, line 2 | 10 | 7 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 7.1 | 18.8 |
| Independent voting board members Part VI 1a–1b | 12 of 13 | 100.0% |
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 expenseSee schedule oin 2024, e/v nautilus successfully completed an 8-month field season consisting of 11 multi-disciplinary expeditions that explored the pacific for a total of 163 days at sea. The 2024 season began with a shake down expedition in hawaii to prepare for the field work ahead, followed by others centered on supporting maintenance of the ocean networks canada cabled observatory, seafloor mapping across the north and central pacific, multi-vehicle explorations in american samoa, rov explorations of the palau national marine sanctuary, and deployments of multiple robotic assets to study…
Highest 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 |
|---|---|---|---|---|
| PRESIDENT Director/trustee, officer, 40.00 hrs/week | $581,000 | $0 | $88,456 | $669,456 |
| COO/BOT SECRETARY Officer, 40.00 hrs/week | $432,616 | $0 | $68,373 | $500,989 |
| CFO/TREASURER Officer, 40.00 hrs/week | $237,517 | $0 | $36,657 | $274,174 |
| CHIEF SCIENTIST Key employee, 40.00 hrs/week | $156,470 | $0 | $22,480 | $178,950 |
| ROV PILOT/MANAGER Key employee, 40.00 hrs/week | $153,835 | $0 | $13,637 | $167,472 |
| DIRECTOR DATA SYSTEMS Key employee, 40.00 hrs/week | $154,868 | $0 | $10,888 | $165,756 |
| CONTROLLER Highest compensated employee, 40.00 hrs/week | $138,109 | $0 | $18,498 | $156,607 |
| EXECUTIVE ASSISTANT Highest compensated employee, 40.00 hrs/week | $135,278 | $0 | $6,724 | $142,002 |
10 people received more than $100,000 in reportable compensation from Ocean Exploration Trust (Part VII, line 2). Compensation of current officers, directors and key employees totaled $2.0M (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–1b13 · 12 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 4Yes
- 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 519
- Volunteers Part I, line 660
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| BERG MARITIME MANAGEMENT Vessel mgmt | $2,352,844 |
| FLYING FISH EXHIBITS PTY LTD Museum traveling exhibit fabrication | $733,500 |
| OCEAN DYNAMICS INC Remotely operated vehicles | $450,072 |
| RED RIVER RESOURCES DBA NAVAIDE Fuel | $426,827 |
| MARLINK Satellite | $371,339 |
Individuals listed as contractors are left out. 5 contractors were paid more than $100,000 in all.
Private foundation grants it received
4 private foundations reported grants to Ocean Exploration Trust totaling $4.2M on their tax year 2023 Form 990-PF returns. See which foundations, on WHOFUNDS.
Source: WHOFUNDS open grant graph, matched from Form 990-PF Part XV.
Correct a figure or respond
Every number above is copied from Ocean Exploration Trust's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Ocean Exploration Trust, you can publish a response that is linked from this page.
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Of every $100 Ocean Exploration Trust spent in 2024, $80.35 went to programs. The full breakdown, from its IRS Form 990:
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Similar-sized charities in this cause
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- 10 Klicks OutdoorsBrooks, GA · revenue $19M · programs 80.2% · 2024
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All environment charities · Largest charities in Connecticut
Questions people ask
How much of Ocean Exploration Trust's spending goes to programs?
In calendar year 2024, Ocean Exploration Trust reported that 80.4% of its $16.5 million in expenses went to program services, 18.7% to management and general and 0.9% to fundraising (Form 990, Part IX).
How much does Ocean Exploration Trust pay its top executive?
The largest total compensation Ocean Exploration Trust reported for one person in calendar year 2024 was $669,456, for the role of PRESIDENT (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Ocean Exploration Trust get its money?
Of $19.3 million in revenue in calendar year 2024, 86.5% came from contributions and grants (including 63.2% from government grants) and 13.4% from program service revenue (Form 990, Part VIII).
Is Ocean Exploration Trust a registered charity?
The IRS lists EIN 83-0488383 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), 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 202543189349303424 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202443199349313754 · read the filing
- 2022: Form 990 for calendar year 2022, object 202303119349301865 · read the filing
- 2021: Form 990 for calendar year 2021, object 202232519349300823 · read the filing
- 2020: Form 990 for calendar year 2020, object 202102029349300810 · read the filing
- 2019: Form 990 for calendar year 2019, object 202031909349301653 · read the filing
All filings for EIN 83-0488383: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.