2023-11-15T11:45:53+00:00 2022-12-31 350921680 CROWE LLP 575 Market Street Suite 3300 San Francisco CA 941055829 990 2022-01-01 942487469 Monterey Bay Aquarium Foundation MONT 8316484800 886 Cannery Row Monterey CA 93940 ROBERT YOUNG INTERIM CFO 2023-11-15 true ANN MARIE NEMANICH 999009999 Diane Kirmaci P01578407 4155761100 2022 2023-04-26 12:10:37Z Julie Packard 886 Cannery Row Monterey CA 93940 1123919454 false X www.montereybayaquarium.org X 1978 CA The mission of the Monterey Bay Aquarium is to inspire conservation of the ocean. Millions of people worldwide draw inspiration from the Aquarium and look to us to advocate for the ocean and its wildlife. 19 18 579 1001 892526 0 60269366 65111538 37372199 57368044 16182425 84696477 636210 1287290 114460200 208463349 71369 255598 0 38471393 47304483 479123 286840 5342434 34164908 44750621 73186793 92597542 41273407 115865807 643593112 663947623 19871835 21778069 623721277 642169554 The mission of the Monterey Bay Aquarium is to inspire conservation of the ocean. Millions of people worldwide draw inspiration from the Aquarium and look to us to advocate for the ocean and its wildlife. false false 48369881 119506 57498121 Marine life exhibition and care expenses of $48,369,881 include the cost of operating and maintaining the Aquarium's living exhibit galleries. Completing important infrastructure improvements: As the Aquarium nears its 40th anniversary, we've begun tackling some important infrastructure improvements. We replaced rockwork in our Kelp Forest exhibit and began replacing supports for two seawater intake pipes in Monterey Bay that have been affected by water motion, seawater corrosion, and general aging over the past four decades. Working with talented engineering and design firms, we were able to complete Kelp Forest exhibit work without removing seawater or animals. Both projects are part of many infrastructure upgrades that we're making to ensure the Aquarium remains a preeminent institution far into the future. Advances in the care and culture of deep-sea species: Our Animal Care and Water Science teams continue to perfect advanced techniques in the care, culturing, and life support for the deep-sea species featured in our newest exhibit: Into the Deep/En lo Profundo. Many of the animals in this exhibit are being displayed to the public for the very first time anywhere. Our teams' ingenuity has led to breakthroughs in raising and displaying such mesmerizing species as chandelier jellies and snowglobe jellies, These delicate animals require very specific water chemistry and temperature to survive. Our first fully bilingual exhibit: In 2022, we opened our first fully bilingual exhibit (in English and Spanish) Into the Deep/En lo Profundo for both in-person and online visitors. This helps ensure we're accessible to an increasingly diverse audience and helps families connect across generations around our exhibits and ocean conservation messages. 18259260 96092 0 Education and Outreach expenses of $18,259,260 include the cost of education programs for teachers, students, and emerging teen leaders. Our commitment to offering free educational programs is stronger than ever. This past year we offered new programs and relaunched in-person programs that were placed on hold during the pandemic. Welcoming students back to field trips: After a two-year hiatus due to the pandemic, we excitedly welcomed thousands of students back to participate in our field trips and resumed our in-person Discovery Lab program, where students get the chance to be scientists in one of the Aquarium's Learning Labs. We continued to provide live instructor-led Online Discovery Labs for students who are unable to visit the Aquarium in person. As students explore the Aquarium and come face-to-face with the amazing animals and ecosystems of Monterey Bay and beyond, they become excited about the natural world, science, and conservation. Meeting teens' emotional needs: To further support our teens as they explore difficult environmental issues like plastic pollution, climate change, and threats to ocean biodiversity, we hired our first full-time Youth Development Instructional Coach. As a licensed school counselor, he provides teens with time to process what they're learning and help them find ways to be part of the solution. He's also helping to make mental well-being and social-emotional skills a central element of all our Education programs - whether for teens, younger schoolchildren, or teachers. Opening doors for interns: We continued our paid internship program for college students, which provides stimulating opportunities so young adults can gain valuable work experience. The paid aspect of this program is important for students who come from communities traditionally underrepresented in the sciences and who may need independent income sources to support themselves. Talking about climate change: Talking about climate change can be anxiety-provoking and overwhelming - leading to paralysis instead of a commitment to action we need to address the daunting challenges ahead. That's why educators who took part in our second Climate Action Projects Summit learned how to foster resilience in kids and adults through a technique that helps process feelings that come with absorbing the facts. In the yearlong climate summit, classroom teachers built their knowledge and confidence to teach about climate change and guide their students in identifying, designing, and implementing climate-related solutions. 8753595 40000 587767 Conservation and Science costs of $8,753,595 represent expenses for marine policy and advocacy efforts, the Seafood Watch program, and field research. In California, we're continuing our leading role in the research, rescue, and recovery of southern sea otters. At the state and federal levels, we're advancing policies to protect vulnerable coastal habitats, reduce plastic pollution, and promote ocean-based climate solutions. Around the world, we're transforming the seafood industry by engaging seafood producers, businesses, and governments, informing seafood purchasing standards, and rating the sustainability of fishing and aquaculture practices. Using surrogacy to advance sea otter recovery: In July, the U.S. Fish and Wildlife Service released a congressionally mandated study on the feasibility of returning sea otters to areas they inhabited before fur traders hunted them to near-extinction. The study, which we played a significant role in developing, found that sea otter introduction along the U.S. West Coast is not only feasible, but would also benefit species recovery, coastal ecosystem health, and coastal communities. The study highlighted the release of surrogate-reared otters, which we developed and have used for over 20 years, as a key method of potential reintroduction efforts. We're now working to expand our surrogacy program to partner aquariums so they can use their facilities, staff, and resident sea otters to help us return more rehabilitated sea otters to the wild. In this way, we're supporting the recovery of California's coastal ecosystems - which, in turn, provide priceless natural services to humanity. Sharks, otters, and climate change: For more than two decades, Aquarium scientists and our partners have used electronic tags to track white sharks. The resulting data revealed that warmer ocean currents, driven by climate change, are drawing juvenile white sharks north into Monterey Bay. These young sharks sometimes take experimental - but fatal - bites of southern sea otters. That's affecting the otters' ability to return to more of their historical range along the California coast. This new information on sharks' changing range, along with other emerging climate science, is informing our plans for sea otter recovery - and our efforts to protect key habitats like kelp forests and eelgrass meadows in a changing ocean. Strong policies against plastic pollution: In June 2022, California enacted a first-in-the-nation bill that will reduce plastic pollution and hold companies accountable for the waste they produce. The California Plastic Pollution Producer Responsibility Act, authored by Senator Ben Allen, is regarded as the nation's toughest law regulating plastic waste. The Aquarium played a role in crafting this legislation and getting it enacted. We pushed for key provisions, including a mandate to reduce single-use plastic packaging by 25 percent by 2032. Supporting California bill to prevent mining in state waters: We sponsored a California bill to ban destructive mining of mineral deposits on the seafloor. The Seabed Mining Prevention Act, authored by Assemblymember Luz Rivas, prohibits seabed mining for hard minerals in state waters. The Aquarium helped write the bill, provided science-based testimony in support, and rallied a coalition of nonprofits and businesses behind it. The state legislature passed the bill on a unanimous, bipartisan vote, and Governor Gavin Newsom signed it into law in September 2022. An equitable approach to seafood sustainability: Much of the seafood Americans eat is raised on small family-run farms in South and Southeast Asia. Our Seafood Watch program, which provides assessments and ratings on seafood sustainability across the globe, rated most of these imports as red (avoid) because of issues like overuse of antibiotics and habitat destruction. Our global team found that many small-scale farmers want to make improvements to their practices. To make the process more equitable for these family-based farmers, Seafood Watch created a pathway for small producers to assure buyers of - and potentially improve - their environmental practices through a web-based app, the Improvement Verification Platform. Our work is having an impact. Last year we substantially increased the number of small-scale farms that achieved green ratings with many more slated to reach green in 2023. Through technical innovation, we are leveling the playing field for family-run farmers so they can be recognized as sustainable and gain important access to global markets. Working to improve human rights in the seafood industry: We are committed to transforming how seafood is fished and farmed so both people and the planet can thrive for the long term. To achieve this goal, we continued our work to improve human rights in the seafood industry. We formed a social sustainability advisory group to review and advise on the integration of human rights considerations with existing environmentally focused work. We also launched an updated and improved version of the Seafood Social Risk Tool for businesses. They can use this tool to better understand human rights and labor conditions in their seafood supply chains and engage in efforts to improve them. 75382736 true true false true false false false false true true true false false true true false true false false true true false true false false false true true true false false false false false false false false true false false false false true true true false false true 138 0 true 579 true true true false false false false true true false false false false false false X 19 18 true false false false false false false true true false false true true true true true true true true false CA X X Ann Marie Nemanich 8316484800 886 Cannery Row Monterey CA 93940 Julie Packard Executive Director 28.0 0.0 X X 370571 0 36436 Stephen C Neal Chairman 1.0 0.0 X X 0 0 0 Caroline Getty Trustee 1.0 0.0 X 0 0 0 Chris Scholin Ex-Officio Trustee 1.0 0.0 X 0 0 0 Connie Martinez Trustee 1.0 0.0 X 0 0 0 Gideon Yu Trustee 1.0 0.0 X 0 0 0 Greg Silverman Trustee 1.0 0.0 X 0 0 0 Lisa White Trustee 1.0 0.0 X 0 0 0 Louise Stephens Trustee 1.0 0.0 X 0 0 0 Margaret Caldwell Trustee 1.0 0.0 X 0 0 0 Mark Wan Trustee 1.0 0.0 X 0 0 0 Martha Martinez Trustee 1.0 0.0 X 0 0 0 Michael Mantell Trustee 1.0 0.0 X 0 0 0 Mike Gupta Trustee 1.0 0.0 X 0 0 0 MRC Greenwood Trustee 1.0 0.0 X 0 0 0 Pietro Parravano Trustee 1.0 0.0 X 0 0 0 Samantha Campbell Trustee 1.0 0.0 X 0 0 0 Susan Orr Trustee 1.0 0.0 X 0 0 0 Tegan Acton Trustee 1.0 0.0 X 0 0 0 William Landreth Trustee 1.0 0.0 X 0 0 0 Barbara Wright Secretary 1.0 0.0 X 0 0 0 Cynthia Vernon Chief Operating Officer 39.0 1.0 X 308056 0 46496 Robert Young Vice President of Finance / interim CFO (beg June 2022) 39.0 1.0 X 187063 0 49871 Troy A Grande CFO & Treasurer (thru June 2022) 39.0 1.0 X 176456 0 31086 Cristina Fekeci Chief Development Officer 40.0 0.0 X 393481 0 38140 Jon Hoech VP of Animal Care 40.0 0.0 X 202880 0 36521 Margaret Spring Chief Conservation&Sci Officer 40.0 0.0 X 240378 0 40955 Marian Martha Hahn Chief Marketing Officer 40.0 0.0 X 325824 0 36481 Mary-Beth Redmond-Jones VP of Exhibitions & Facilities 40.0 0.0 X 204107 0 17943 Teresa Jeanine Merry Chief Human Resources Officer 40.0 0.0 X 226156 0 38893 Aimee David VP US & CA Ocean Conservation 40.0 0.0 X 189433 0 25570 Ann Dabovich VP of Gift Planning 40.0 0.0 X 197790 0 26664 David Rosenberg VP of Guest Experience 40.0 0.0 X 185244 0 13745 Jennifer Dianto Kemmerly VP of Global Ocean Initiatives 40.0 0.0 X 208835 0 31337 Robert Mann VP of Technology 40.0 0.0 X 178439 0 49512 3594713 0 519650 70 false true false Impacts Research 1048 Sinclair Pointe St Simons Island GA 31522 Advertising 3508648 Blach Construction Company 2244 Blach Place Suite 100 San Jose CA 95131 Construction 3321118 Service Systems Associates Inc 4624 Central Park Blvd Suite 100 Denver CO 80238 Retail and Culinary Service 3001608 Power Engineering Company 1501 Viking Street Suite 200 Alameda CA 94501 Construction 2208807 John F Otto Inc dba Otto Construction 2150 Garden Rd A1 Monterey CA 93940 Construction 1211859 98 12281830 240066 52589642 2607163 65111538 Admission fees 611600 57178179 57178179 Other Program Revenue 900099 189865 189865 0 0 0 0 57368044 4213188 725806 3487382 571718 168992 402726 0 402726 402726 995770402 915287113 80483289 0 80483289 80483289 Licensing Revenue 900099 587767 587767 PARKING REVENUE 812930 296797 130077 166720 0 0 0 0 884564 208463349 58085888 892526 84373397 160706 160706 76142 76142 18750 18750 0 0 3007794 1485867 1090305 431622 34704354 29424436 2997106 2282812 1347132 1149039 102613 95480 5635794 4725273 561272 349249 2609409 2179488 259916 170005 288400 101830 186270 300 180343 180343 239889 239889 286840 286840 1113578 1113578 8935657 7157619 919864 858174 5154856 5143767 11000 89 2977660 2579643 66849 331168 5347355 4873980 443270 30105 16156 16156 6186454 4889989 950286 346179 1010569 761524 133753 115292 76277 57920 13701 4656 12232555 9434141 2777051 21363 877355 841933 29859 5563 Sponsorship and Gifts 113517 64644 35336 13537 0 0 0 0 92597542 75382736 11872372 5342434 37004816 9922459 2753169 31914955 16425104 11849919 2323456 2799106 0 0 0 0 0 0 1636365 1735608 384894724 202430359 157697718 182464365 90775867 270266631 329072726 148562546 0 0 5903891 4432034 643593112 663947623 11539316 12950075 0 8231913 8673623 0 0 0 0 0 0 100606 154371 19871835 21778069 X 522475636 563981612 101245641 78187942 623721277 642169554 643593112 663947623 X 115865807 -124825150 27407620 X false true X true false X 58258026 61820387 67321983 60269366 65111538 312781300 0 0 58258026 61820387 67321983 60269366 65111538 312781300 46089186 266692114 4247155 3856805 1485246 681088 4784906 15055200 0 960 110732 15936 0 127628 34480 0 0 0 0 34480 327998608 212803826 0.8131 0.7918 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - FUNDRAISING EVENT INCOME, COLUMN A - 34480.0, COLUMN B - 0.0, COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - 0.0, COLUMN F - 34480.0; 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Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote IN AUGUST 2022, MONTEREY BAY AQUARIUM SUPPORT SERVICES ("MBASS"), A SUPPORT ORGANIZATION THAT WAS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, WAS MERGED INTO THE MONTEREY BAY AQUARIUM FOUNDATION ("MBAF"). THE FOLLOWING FOOTNOTE APPEARED IN THE FINANCIAL STATEMENTS FOR MBAF: The Monterey Bay Aquarium Foundation is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code; however, they are subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The Aquarium is also exempt from California state franchise taxes under Section 23701(d) of the California Revenue and Taxation Code. As of December 31, 2022, management evaluated the Aquarium's tax provisions and concluded that the Aquarium had maintained its tax-exempt status and had taken no material uncertain tax positions that require adjustment to or disclosure in the financial statements. true Europe (Including Iceland and Greenland) 0 0 Program Services Conferences/Consults 68182 North America (Canada & Mexico only) 0 0 Program Services Conferences/Consults 26392 Central America and the Caribbean 0 0 Program Services Conferences/Consults 1475 North America (Canada & Mexico only) 0 0 Grantmaking Research 18750 Central America and the Caribbean 0 0 Investments 68109071 East Asia and the Pacific 0 0 Program Services Conferences/Consults 3879 Russia and Neighboring States 0 0 Program Services Conferences/Consults 4339 South America 0 0 Program Services Conferences/Consults 4367 Europe (Including Iceland and Greenland) 0 0 Investments 6904813 0 0 0 0 0 0 75141268 0 75141268 North America (Canada & Mexico only) Research 9750 Wire Transfer North America (Canada & Mexico only) Research 9000 Wire Transfer 0 2 true false true true false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds THE AQUARIUM REQUIRES POTENTIAL GRANT RECIPIENTS TO SUBMIT FORMAL APPLICATIONS WHICH ARE REVIEWED BY THE PROGRAM MANAGER FOR CONSISTENCY WITH THE AQUARIUM'S MISSION AND COMPLIANCE WITH THE ANNUAL BUDGET. FURTHERMORE, THE AQUARIUM REQUIRES A WRITTEN REPORT FROM THE GRANTEE PROVIDING DETAIL ABOUT HOW FUNDS WERE USED TO ACCOMPLISH THE GRANT OBJECTIVES. REPORTS ARE REVIEWED BY THE PROGRAM MANAGER FOR COMPLIANCE WITH GRANT CONDITIONS. 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THE AQUARIUM REQUIRES POTENTIAL GRANT RECIPIENTS TO SUBMIT FORMAL APPLICATIONS WHICH ARE REVIEWED BY THE PROGRAM MANAGER FOR CONSISTENCY WITH THE AQUARIUM'S MISSION AND COMPLIANCE WITH THE ANNUAL BUDGET. FURTHERMORE, THE AQUARIUM REQUIRES A WRITTEN REPORT FROM THE GRANTEE PROVIDING DETAIL ABOUT HOW FUNDS WERE USED TO ACCOMPLISH THE GRANT OBJECTIVES. REPORTS ARE REVIEWED BY THE PROGRAM MANAGER FOR COMPLIANCE WITH GRANT CONDITIONS. X X true true X X X X X false false false false false false false true false Julie Packard Executive Director 365323 0 2000 0 3248 0 24015 0 12421 0 407007 0 0 0 Robert Young Vice President of Finance / interim CFO (beg June 2022) 182452 0 4000 0 611 0 13584 0 36287 0 236934 0 0 0 Troy A Grande CFO & Treasurer (thru June 2022) 170667 0 5000 0 789 0 12515 0 18571 0 207542 0 0 0 Cynthia Vernon Chief Operating Officer 300301 0 4000 0 3755 0 20492 0 26004 0 354552 0 0 0 Cristina Fekeci Chief Development Officer 355726 0 34000 0 3755 0 23608 0 14532 0 431621 0 0 0 Marian Martha Hahn Chief Marketing Officer 310564 0 13172 0 2088 0 21782 0 14699 0 362305 0 0 0 Margaret Spring Chief Conservation&Sci Officer 233829 0 4000 0 2549 0 16504 0 24451 0 281333 0 0 0 Teresa Jeanine Merry Chief Human Resources Officer 218528 0 4000 0 3628 0 15445 0 23448 0 265049 0 0 0 Jon Hoech VP of Animal Care 195334 0 4500 0 3046 0 14058 0 22463 0 239401 0 0 0 Mary-Beth Redmond-Jones VP of Exhibitions & Facilities 196773 0 5000 0 2334 0 13977 0 3966 0 222050 0 0 0 Jennifer Dianto Kemmerly VP of Global Ocean Initiatives 203601 0 4000 0 1234 0 14559 0 16778 0 240172 0 0 0 Ann Dabovich VP of Gift Planning 190618 0 4000 0 3172 0 13619 0 13045 0 224454 0 0 0 Robert Mann VP of Technology 173631 0 4000 0 808 0 13061 0 36451 0 227951 0 0 0 David Rosenberg VP of Guest Experience 179091 0 4500 0 1653 0 12727 0 1018 0 198989 0 0 0 Aimee David VP US & CA Ocean Conservation 182973 0 5000 0 1460 0 13078 0 12492 0 215003 0 0 0 Schedule J, Part I, Line 1a Tax indemnification and gross-up payments CERTAIN EMPLOYEES RECEIVED TAX GROSS-UP PAYMENTS FOR MILESTONE SERVICE AWARDS RECEIVED DURING THE COURSE OF THE 2022 CALENDAR YEAR. SUCH PAYMENTS WERE TREATED AS TAXABLE INCOME ON THE EMPLOYEE'S FORM W-2 AND REPORTED AS COMPENSATION ON SCHEDULE J, PART II, COLUMN B(III). Schedule J, Part I, Line 1a Health or social club dues or initiation fees AS PART OF THE AQUARIUM'S WELLNESS PROGRAM, ALL EMPLOYEES (INCLUDING THE LISTED EMPLOYEES IN PART VII, SECTION A) ARE ELIGIBLE TO RECEIVE A SUBSIDY FOR FITNESS CENTER DUES IF THE EMPLOYEE MEETS CERTAIN WELLNESS PROGRAM REQUIREMENTS. SINCE THIS TYPE OF SUBSIDY IS CONSIDERED A TAXABLE FRINGE BENEFIT, THE AQUARIUM GROSSES-UP THESE SUBSIDIES TO COVER THE EMPLOYEE'S TAXES. SUCH PAYMENTS WERE TREATED AS TAXABLE INCOME ON THE EMPLOYEE'S FORM W-2 AND REPORTED AS COMPENSATION ON SCHEDULE J, PART II, COLUMN B(III). Schedule J, Part I, Line 7 Non-fixed payments ALL INDIVIDUALS LISTED IN PART VII SECTION A, LINE 1A WITH REPORTABLE COMPENSATION RECEIVED A DISCRETIONARY BONUS DURING 2022. THIS ORGANIZATION-WIDE BONUS WAS DETERMINED BY THE BOARD OF DIRECTORS AND ARE REPORTED ON FORM 990, SCHEDULE J, PART II, COLUMN B(II). X 86 2599508 Market value X 276 7128 Market value X Program Supplies 1050 527 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - number of contributions Food inventory - number of items Other - Program Supplies number of items Form 990, Part VI, Line 2 Family/business relationships amongst interested persons JULIE PACKARD, CHRIS SCHOLIN AND BARBARA WRIGHT - Business relationship, JULIE PACKARD, SUSAN ORR AND LOUISE STEPHENS - Family relationship, Julie Packard, Meg Caldwell, SUSAN ORR AND LOUISE STEPHENS - Business relationship, Michael Mantell, Mark Wan - Business relationship, Greg Silverman & Gideon Yu - Business relationship Form 990, Part VI, Line 11b Review of form 990 by governing body The Aquarium's Controller provides all information needed for the Form 990 to Crowe LLP based on audited financial statements. Crowe prepares and reviews the Form 990 and provides a draft which is revewed by the Controller, CFO, Secretary and Legal Counsel, and Executive Director with revisions incorporated as needed. Upon acceptance of the final version, the 990 is shared first with the Audit Committee for its review and then distributed to the full board prior to filing. Form 990, Part VI, Line 12c Conflict of interest policy The Executive Director's office assures that all disclosure forms (and mitigation plans, if applicable) have been received from all trustees and officers by January 31 of each year, prepares a summary of disclosures, and forwards the completed forms and the summary to the Aquarium's conflicts review panel, consisting of the Executive Director, legal counsel, Chief Human Resources Officer, and Chief Financial Officer (CFO). Trustees and Officers also acknowledge receipt and understanding of the Aquarium's COI policy in conjunction with providing the annual disclosures. Following review by the panel, the panel's findings and the disclosures are provided to the Board's Audit Committee, which reviews the disclosures and makes a report to the Board at its March meeting. Both the panel and the Audit Committee annually evaluate the effectiveness of the process. The CFO and Controller assure appropriate reporting to the external auditors and tax preparer. Trustees and officers have a continuing duty to make additional disclosures throughout the year if warranted. Employee Code of Ethical Conduct Policy - The Chief Human Resources Officer forwards the code, which includes a section on conflicts of interest, to all managers in early January each year, and assures that each manager responds that they have read it and are in compliance by January 31. Managers are also required to disclose any interests which could give rise to conflict, and to assure that any staff in their areas with interests which could give rise to conflict has done the same. Disclosures (and mitigation plans, if applicable) are reviewed by the Executive Director, Chief Human Resources Officer and CFO by March. This team also evaluates the effectiveness of the process. The CFO assures appropriate reporting to the external auditors and tax preparer. Employees have a continuing duty to make additional disclosures throughout the year if warranted. Form 990, Part VI, Line 15a Process to establish compensation of top management official The Board of Trustees maintains a performance evaluation process for the Chief Executive Officer, referred to as the Executive Director, who is a member of the Board. The Board's Executive Compensation Committee, comprised of independent trustees, reviews the CEO's performance with input from other board members, and recommends the compensation of the CEO to the Board. The Committee obtains and reviews market survey data from several independent organizations containing data for comparable positions at comparable organizations. The Committee provides the performance review and comparable salary information to the Board and recommends the CEO's compensation. Based upon the performance review and comparable salary information, the independent members of the Board determines that the compensation is fair, just and reasonable and then approves total compensation for the CEO. THE REVIEW AND APPROVAL IS CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES OF THE BOARD MEETING. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE EXECUTIVE COMPENSATION COMMITTEE COMPRISED OF INDEPENDENT TRUSTEES PERIODICALLY OBTAINS A MARKET SURVEY FROM AN INDEPENDENT COMPENSATION CONSULTANT AND REVIEWS DATA FROM SEVERAL INDEPENDENT ORGANIZATIONS FOR COMPARABLE POSITIONS AT COMPARABLE ORGANIZATIONS. THE COMMITTEE APPROVES THE TOTAL COMPENSATION STRATEGY FOR THE AQUARIUM, CONSISTENT WITH ITS MISSION AND VALUES. THE BOARD DELEGATED TO THE EXECUTIVE COMPENSATION COMMITTEE THE APPROVAL OF COMPENSATION FOR THE CHIEF FINANCIAL OFFICER, WHO IS NOT A MEMBER OF THE BOARD. THE COMMITTEE REVIEWS THE PERFORMANCE OF THE CHIEF FINANCIAL OFFICER, AND BASED UPON THE PERFORMANCE AND COMPARABLE SALARY INFORMATION, THE COMMITTEE DETERMINES THAT THE COMPENSATION IS FAIR, JUST AND REASONABLE, AND APPROVES COMPENSATION FOR THE CFO. THE COMMITTEE REVIEWS THE PROPOSED COMPENSATION OF ANY OTHER OFFICER OR SENIOR STAFF REPORTING TO THE EXECUTIVE DIRECTOR/CEO, OR WHO IS HIGHLY COMPENSATED AS SPECIFICALLY REPORTED ON THE FORM 990. THE REVIEW AND APPROVAL ARE CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES OF THE COMMITTEE MEETING. Form 990, Part VI, Line 19 Required documents available to the public The Aquarium makes its audited financial statements and form 990 for the most recent three years available to the public by posting on its website. The conflicts of interest policy and governing documents are provided upon request within two business days. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Unrealized Gain (Loss) on Interest in Charitable Remainder Trust - -124498; Change in allowance for Uncollectible pledges - -36400; Net Assets from Merger (MBASS MERGED INTO THE AQUARIUM IN 2022) - 27568518; Monterey Bay Aquarium Support Services 99 Pacific Street Monterey CA 93940 770569564 PROPERTY MGMT CA 501(c)(3) Type I MBAF true false false false false false false false false false false false false false true true false true false true Monterey Bay Aquarium Support Services (MERGED INTO AQUARIUM IN AUGUST 2022 ) S 27568518 FMV