2024-10-07T10:19:56-05:00 2023-12-31 221478099 COHNREZNICK LLP 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2023-01-01 061480300 SEA RESEARCH FOUNDATION INC SEAR 8605725955 55 COOGAN BLVD MYSTIC CT 06355 KORAY GURZ CFO 8605725955 2024-09-25 1 1 PAUL BALLASY P00852868 9592007000 2024-09-22 2023 2024-10-15 13:58:12Z KORAY GURZ 55 COOGAN BLVD MYSTIC CT 06355 58135474 0 X WWW.MYSTICAQUARIUM.ORG X 1977 CT TO INSPIRE PEOPLE TO CARE FOR AND PROTECT OUR OCEAN PLANET THROUGH EDUCATION AND RESEARCH 24 24 347 762 2354 0 10053356 8781096 23171763 23607874 -388051 141178 -237419 26318 32599649 32556466 83846 133454 0 0 15339955 15968314 40000 120000 2747516 14393680 13376297 29857481 29598065 2742168 2958401 54777845 59553462 12016372 12546235 42761473 47007227 TO INSPIRE PEOPLE TO CARE FOR AND PROTECT OUR OCEAN PLANET THROUGH EDUCATION AND RESEARCH. 0 0 14959211 21469412 THE ORGANIZATION OPERATES AN AQUARIUM WHICH IS OPEN TO THE GENERAL PUBLIC, PROGRAMS INCLUDE ANIMAL HUSBANDRY AND REHABILITATION FOR MARINE MAMMALS, PENGUINS, FISHES AND AQUATIC INVERTEBRATES. DURING 2023 THERE WERE APPROXIMATELY 800,000 VISITORS THAT CAME TO THE AQUARIUM. 5558400 21006 1252542 THE ORGANIZATION ALSO SUPPORTS EDUCATION AND RESEARCH PROGRAMS AT THE AQUARIUM, AND THROUGH TRAVELING TEACHERS' PROGRAMS TO STUDENTS AND THEIR SCHOOLS. DURING THE CALENDAR YEAR 2023 APPROXIMATELY 85,000 STUDENTS BENEFITED FROM THE EDUCATION AND RESEARCH PROGRAMS. 3034201 112448 944219 OTHER VISITOR SERVICES PROVIDED BY THE ORGANIZATION PROMOTING EDUCATION, RESEARCH, AND LEARNING ABOUT OUR OCEAN PLANET. 23551812 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 125 0 1 347 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 24 24 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT FL RI X X KORAY GURZ 8605725955 55 COOGAN BLVD MYSTIC CT 06355 ALEX MARKU BOARD MEMBER 1.00 X 0 0 0 ANTONIO ROBERTO BOARD MEMBER 1.00 X 0 0 0 CECILIE JEDLICKA BOARD MEMBER 1.00 X 0 0 0 DR GEORGE M MILNE JR CHAIRMAN 5.00 X X 0 0 0 DR SARAH KELLY BOARD MEMBER 1.00 X 0 0 0 ED CASSIDY BOARD MEMBER 1.00 X 0 0 0 GEORGE KIRBY BOARD MEMBER 1.00 X 0 0 0 JASON REESE BOARD MEMBER 1.00 X 0 0 0 JOHN HOLSTEIN SECRETARY 1.00 X X 0 0 0 MICHAEL LECH BOARD MEMBER 1.00 X 0 0 0 MICHAEL RAUH BOARD MEMBER 1.00 X 0 0 0 PATRICK GREEN TREASURER 1.00 X X 0 0 0 PAUL ROBERTSON BOARD MEMBER 1.00 X 0 0 0 PETER B BARR PHD BOARD MEMBER 1.00 X 0 0 0 PETER G DRAKOS BOARD MEMBER 1.00 X 0 0 0 RICHARD KATZ BOARD MEMBER 1.00 X 0 0 0 ROBERT WILLIAMS JR BOARD MEMBER 1.00 X 0 0 0 RODNEY BUTLER BOARD MEMBER 1.00 X 0 0 0 STEVE K PERRELLI VICE CHAIRMAN 1.00 X X 0 0 0 TAN HEE TECK BOARD MEMBER 1.00 X 0 0 0 THOMAS MARRA VICE CHAIRMAN 1.00 X X 0 0 0 TIMOTHY J KANE BOARD MEMBER 1.00 X 0 0 0 TOM MOSEY VICE CHAIRMAN 1.00 X X 0 0 0 VERONICA DOWLING BOARD MEMBER 1.00 X 0 0 0 KORAY GURZ COO/CFO 40.00 X 278842 0 47525 SUSETTE TIBUS PRESIDENT/ CEO 40.00 X 328685 0 1947 ALLISON TUTTLE SVP, ZOOLOGICAL OPERATIONS 40.00 X 242351 0 15823 ERIC ANDERSON DIRECTOR OF ANIMAL CARE AND WELFARE 40.00 X 175966 0 30656 KATRINA S CUBINA SENIOR VP, MISSION PROGRAM 40.00 X 207116 0 37287 KEITH SORENSEN SR VP OF FACILITIES AND CAPITAL PROJECTS 40.00 X 167723 0 26520 TINA COUCH VP DEVELOPMENT 40.00 X 228119 0 6584 STEPHEN M COAN FORMER PRESIDENT, CEO 40.00 X 454128 0 0 2082930 0 166342 21 1 1 0 CARLIN CONSTRUCTION COMPANY 5 SHAWS COVE SUITE 103 NEW LONDON CT 06320 CONSTRUCTION SERVICES 2167743 POWER POSSE PRODUCTIONS LCC 21 AVERY ST MYSTIC CT 06355 MARKETING SERVICES 267961 MEN OF ACTION LLC 163 MELL RD LISBON CT 06351 CONSTRUCTION SERVICES 228563 ACE SECURITY PO BOX 162 MYSTIC CT 06355 PROPERTY SECURITY SERVICES 189500 VERTIKAL6 INC 30 SERVICE AVE WARWICK RI 02886 IT SERVICES 188603 8 466697 6797169 1517230 264075 8781096 ADMISSIONS 713990 16379902 16379902 SPECIAL EXHIBITS AND OTHER REVENU 713990 3865595 3865595 MEMBERSHIPS 713990 2107481 2107481 PROGRAM INCOME 713990 1254896 1252542 2354 23607874 467891 467891 25094173 24692451 728435 401722 -728435 -326713 -326713 123787 466697 158122 -34335 -34335 60653 60653 60653 32556466 23666173 2354 106843 112448 112448 21006 21006 656999 532457 75377 49165 12856966 10419784 1475065 962117 112432 91119 12899 8414 2308533 1870925 264856 172752 33384 27056 3830 2498 300704 300704 109565 109565 220250 220250 120000 120000 82570 82570 1689506 1330618 284661 74227 880757 1715 879042 1114294 1008199 60409 45686 82457 32017 50440 1563394 1327851 174493 61050 248363 161791 65629 20943 229000 183200 34350 11450 2391621 2152459 239162 395799 332471 39580 23748 EDUCATION PROGRAM 1967405 1946399 10041 10965 ANIMAL COSTS 659337 659337 DUES AND SUBSCRIPTIONS 411767 172553 18976 220238 BRINE AND CHEMICALS 331663 331663 697845 616494 46570 34781 29598065 23551812 3298737 2747516 1766408 998178 7275686 754866 354162 270045 334314 277075 338259 75607650 43162238 33199241 32445412 9099744 20579845 231679 121828 1903101 4381464 54777845 59553462 2572807 2527609 1273422 2027929 7731806 7767492 438337 223205 12016372 12546235 X 41236621 45623833 1524852 1383394 42761473 47007227 54777845 59553462 2958401 1287353 0 X 0 1 X 1 1 1 X 8346889 12600733 18620020 10053356 8781096 58402094 16550992 9120178 23466044 23162992 23607874 95908080 24897881 21720911 42086064 33216348 32388970 154310174 1120535 872336 950000 980198 539601 4462670 0 1120535 872336 950000 980198 539601 4462670 149847504 1070479 481 5062 61009 467891 1604922 1070479 481 5062 61009 467891 1604922 176481 176481 723881 4756861 79529 55368 60653 5676292 26868722 26478253 42170655 33332725 32917514 161767869 0.92630 0.91460 0.00990 0.01460 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER - 2019 AMOUNT: $ 723,881. 2020 AMOUNT: $ 32,871. 2021 AMOUNT: $ 79,529. 2022 AMOUNT: $ 55,368. 2023 AMOUNT: $ 60,653. CANCELLATION OF DEBT INCOME - 2020 AMOUNT: $ 4,723,990. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 220250 220250 0 PART II-B, LINE 1: DIRECT CONTACT WAS MADE WITH LEGISLATORS TO LOBBY FOR FUNDING TO SUPPORT THE ORGANIZATION'S EXEMPT FUNCTION. X X X 0 8863862 1730586 21006 10573442 9809894 -931734 14298 8863862 71 9742400 67423 9809894 71 71 186549 3251 189729 71 1.00000 0 0 679310 679310 57296652 33415319 23881333 2986837 2660042 326795 7528625 3147334 4381291 7116226 3939543 3176683 32445412 CONSTRUCTION IN PROGRESS 4303027 DEFERRED COMP ASSET 78437 4381464 DEFERRED COMP LIABILITY 78437 OPERATING LEASE LIABILITY 121828 FINANCING LEASE LIABILITY 22940 223205 X 33919371 1287353 1287353 32632018 82570 -158122 -75552 32556466 29673617 158122 158122 29515495 82570 82570 29598065 PART III, LINE 1A: THE FOUNDATION'S COLLECTION OF BELUGA WHALES, SEALS, FISH AND OTHER ANIMALS ARE NOT CAPITALIZED IN ITS FINANCIAL STATEMENTS AND ARE CHARGED TO EXPENSE AS INCURRED. PART III, LINE 4: THE FOUNDATION'S ANIMAL COLLECTION IS VIEWED BY APPROXIMATELY 700,000 VISITORS EACH YEAR. THE VISIT BY EACH INDIVIDUAL HELPS TO INSPIRE PEOPLE TO CARE FOR AND PROTECT OUR OCEAN PLANET. PART V, LINE 4: SUPPORT OF THE FOUNDATION'S ONGOING EDUCATION PROGRAMS AND ANIMAL CARE. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). HOWEVER, CERTAIN OPERATIONS OF THE FOUNDATION MAY QUALIFY AS UNRELATED BUSINESS TAXABLE INCOME AND TO THE EXTENT THAT THESE OPERATIONS GENERATE INCOME, THEY WILL BE SUBJECT TO FEDERAL AND STATE TAXES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE ON THE FINANCIAL STATEMENTS. THE FOUNDATION HAS NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2023 AND 2022. THE FOUNDATION'S FEDERAL AND STATE INFORMATION RETURNS PRIOR TO FISCAL YEAR 2020 ARE CLOSED, AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE FOUNDATION HAS UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION, AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENTS OF FINANCIAL POSITION. PART XI, LINE 4B - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES -158,122. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSES 158,122. X X X X X 1 THE COMPASS GROUP 24 QUAY STREET ALEXANDRIA VA 22314 FUNDRAISING STRATEGY 0 0 120000 -120000 120000 -120000 CT ANNUAL GALA 459203 390016 69187 10320 54187 15000 17707 GOLF OUTING 131281 76681 54600 45600 9000 6308 590484 466697 123787 10320 99787 24000 24015 158122 -34335 1 ASSOCIATION OF ZOOS AND AQUARIUMS 8403 COLESVILLE RD SILVER SPRINGS MD 20910 550526930 501(C)(3) 33448 0 GENERAL SUPPORT CHAMBER OF COMMERCE 914 HARTFORD TURNPIKE WATERFORD CT 06385 060475490 501(C)(3) 45000 0 GENERAL SUPPORT GREATER MYSTIC CHAMBER OF COMMERCE 22 E MAIN STREET MYSTIC CT 06355 060861879 501(C)(3) 29000 0 GENERAL SUPPORT 3 SCHOLARSHIPS 13 21006 SCHEDULE I, PART I, QUESTION 2 PRIOR TO RELEASE OF GRANT FUNDS NECESSARY DOCUMENTATION IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND/OR FINANCIAL STAFF. GRANTEES RECEIVING FUNDS ARE REQUESTED TO PROVIDE THE FOUNDATION WITH INFORMATION THAT THE FUNDS ARE USED FOR THE DESIGNATED PURPOSES IF APPLICABLE. 1 X X X X 1 0 0 0 0 0 0 1 0 STEPHEN M COAN FORMER PRESIDENT, CEO 0 0 0 0 454128 0 0 0 0 0 454128 0 151231 0 SUSETTE TIBUS PRESIDENT/ CEO 328685 0 0 0 0 0 0 0 1947 0 330632 0 0 0 KORAY GURZ COO/CFO 258842 0 20000 0 0 0 5625 0 41900 0 326367 0 0 0 ALLISON TUTTLE SVP, ZOOLOGICAL OPERATIONS 222351 0 20000 0 0 0 4500 0 11323 0 258174 0 0 0 KATRINA S CUBINA SENIOR VP, MISSION PROGRAM 197116 0 10000 0 0 0 4333 0 32954 0 244403 0 0 0 TINA COUCH VP DEVELOPMENT 213119 0 15000 0 0 0 1679 0 4905 0 234703 0 0 0 ERIC ANDERSON DIRECTOR OF ANIMAL CARE AND WELFARE 175966 0 0 0 0 0 1334 0 29322 0 206622 0 0 0 KEITH SORENSEN SR VP OF FACILITIES AND CAPITAL PROJ 157723 0 10000 0 0 0 3225 0 23295 0 194243 0 0 0 PART I, LINE 4A THE FORMER CEO RECEIVED A SEVERANCE PAYMENT OF $302,897 WHICH WAS REPORTED IN HIS 2023 W2. PART I, LINE 7 EXECUTIVE OFFICERS RECEIVED A BOARD APPROVED CALENDAR YEAR 2023 BONUS. JOHN HOLSTEIN BOARD SECRETARY 114775 OWNER OF SPICER GAS 0 X 1 264075 FMV 0 1 0 PART I, COLUMN (B): THE AMOUNT IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED ITS BYLAWS TO UPDATE OFFICER TITLES, APPOINTMENTS AS WELL AS COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE ENTIRE BOARD INCLUDING THE AUDIT COMMITTEE REVIEWS A DRAFT OF FORM 990. IT IS SENT ELECTRONICALLY TO THEM FOR THEIR REVIEW. IF NO CHANGES ARE SUGGESTED BY BOARD MEMBERS WITHIN 5 BUSINESS DAYS THE FORM IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL CONFLICT OF INTEREST FORMS RETURNED BY BOARD MEMBERS ARE PROVIDED TO THE PRESIDENT. ANY FORMS WHERE A CONFLICT IS DISCLOSED ARE PRESENTED TO THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE THEN DETERMINES WHAT ACTION IS REQUIRED (IF ANY) TO RESOLVE THE CONFLICT AND VERIFIES THE TRANSACTION IS EXECUTED IN THE BEST INTEREST OF THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE IS RESPONSIBLE FOR DETERMINING THE CHIEF EXECUTIVE OFFICER'S COMPENSATION. THE COMPENSATION COMMITTEE USES VARIOUS SOURCES OF INFORMATION INCLUDING OTHER 990'S, COMPENSATION STUDIES, COMPENSATION CONSULTANTS AND OTHER FACTORS THAT ARE UNIQUE TO THE FOUNDATION. IN ADDITION, THE COMPENSATION COMMITTEE APPROVES THE COMPENSATION AND BENEFITS FOR THE NEXT FOUR HIGHLY PAID EXECUTIVES (INCLUDING THE CHIEF FINANCIAL OFFICER) OF THE FOUNDATION BASED UPON THE RECOMMENDATIONS OF THE CHIEF EXECUTIVE OFFICER. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION IS AVAILABLE AT THE FOUNDATION FOR THE PUBLIC TO REVIEW. THE FINANCIAL STATEMENTS ARE AVAILABLE TO REVIEW ON THE FOUNDATION'S WEBSITE.