2025-03-05T16:34:05-06:00 2024-08-31 742520265 COLLIER JOHNSON & WOODS PC 555 N CARANCAHUA SUITE 1000 CORPUS CHRISTI TX 784010839 990 2023-09-01 845079866 PALACIOS MARINE AGRICULTURAL RESEARCH INC PALA 3618819040 555 N CARANCAHUA SUITE 700 CORPUS CHRISTI TX 78401 CLARK C FLATO BOARD CHAIRMAN 3618819040 2025-02-28 1 1 ROBERT TROY COOK P00822030 3618849347 2023 2025-03-06 01:10:19Z CLARK C FLATO 555 N CARANCAHUA ST 700 CORPUS CHRISTI TX 78401 5679393 0 X WWW.PMARTEXAS.ORG X 2020 TX SEE SCHEDULE O 7 6 9 0 0 0 2533341 3000000 18000 91268 33217 72508 56141 51514 2640699 3215290 729438 151510 0 0 967057 1263945 0 0 0 1137928 1498856 2834423 2914311 -193724 300979 4161718 4338603 225555 138718 3936163 4199885 X SEE SCHEDULE O 0 0 2757509 151510 SEE SCHEDULE O 2757509 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 14 0 1 9 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X CLARK C FLATO 3618819040 555 N CARANCAHUA ST 700 CORPUS CHRISTI TX 78401 LARRY MCKINNEY DIRECTOR 20.00 X 138030 0 0 CLARK C FLATO BOARD CHAIRMAN 8.00 X X 0 0 0 STEPHEN W ALTHEIDE TREASURER 5.00 X X 0 0 0 DAVID HOYER VICE CHAIRMAN 2.00 X X 0 0 0 JOHN J JOHNSON SECRETARY 2.00 X X 0 0 0 DAVID F SUTTER DIRECTOR 2.00 X 0 0 0 JOSE SEVILLA ADVISORY DIRECTOR 2.00 X 0 0 0 KENNETH W TRAWICK DIRECTOR 2.00 X 0 0 0 JAMES MEYN CHIEF EXECUTIVE OFFICER 40.00 X 116154 0 0 GAIL SUTTON DIRECTOR OF OPERAT. 40.00 X 144220 0 0 JOE FOX FORMER EXECUTIVE DIRECTOR 40.00 X 222078 0 0 620482 0 0 4 1 1 0 TRI MORAN DEVELOPMENT INC 9815 RICABY DRIVE HOUSTON TX 77064 CONTRACT LABOR 279893 TIMOTHY RICHARDSON 6707 OLD STAGE RD ROCKVILLE MD 20852 CONSULTING 103571 2 3000000 3000000 OYSTER SEED SALES 112512 91268 91268 91268 22989 22094 895 51514 0 51514 51514 51514 2513622 2464103 49519 49519 49519 3215290 162881 0 52409 151510 151510 254184 230953 23231 222078 222078 688479 614409 74070 31380 30492 888 67824 62135 5689 15585 15585 25304 25304 2666 2666 11054 11054 186103 172423 13680 145362 142137 3225 41682 41472 210 3326 3326 536834 529647 7187 20042 20042 CONTRACT LABOR 293993 293993 CONSULTING 105925 105925 R&M 86821 86821 ALL OTHER EXPENSES 24159 23507 652 2914311 2757509 156802 0 453590 317568 15294 42944 2811 61007 4769929 852845 2325244 3917084 1364779 4161718 4338603 152793 71529 72762 67189 225555 138718 X 3936163 4199885 3936163 4199885 4161718 4338603 300979 -37080 -177 0 X 0 0 0 X TEXAS A&M UNIVERSITY - CORPUS CHRISTI CORPUS CHRISTI TX RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1889050 251978 1637072 2880879 600867 2280012 3917084 ACCRUED LEAVE 57413 PREPAID RENT INCOME 5225 OTHER LIABILITIES 4551 67189 1 B CARBON INC 4709 AUSTIN ST HOUSTON TX 77004 854254549 501C3 120000 0 MARINE RESEARCH OYSTER SOUTH 303 E HOWARD AVE DECATUR GA 30030 813434897 501C3 8500 0 MARINE RESEARCH 2 PART IV ADDITIONAL INFORMATION PALACIOS MARINE AGRICULTURAL RESEARCH, INC. ONLY PROVIDES GRANT FUNDING TO VERIFIED NON-PROFITS THAT SHARE IN MARINE RESEARCH & RESTORATION EFFORTS OR PROVIDES SUPPORT TO LOCAL COMMUNITIES. EACH GRANTEE REQUEST IS REVIEWED FOR PURPOSE AND IMPACT. GRANTEES SIGN AGREEMENTS UPON ACCEPTANCE OF FUNDS. X X X 0 0 0 0 0 0 0 0 0 JOE FOX FORMER EXECUTIVE DIRECTOR 222078 0 0 0 0 0 0 0 0 0 222078 0 0 0 PART I, LINE 3 PART III - OTHER ADDITIONAL INFORMATION METHOD USED FOR COMPENSATION EXPLANATION: COMPENSATION FOR THE DIRECTORS AND OFFICERS IS BASED ON RECOMMENDATIONS RECEIVED FROM LEGAL COUNSEL. LEGAL COUNSEL RETAINS QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS TO BASE THEIR RECOMMENDATIONS ON. THE RETAINED QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS BASE THEIR ADVICE ON MARKET SURVEYS, SITE VISITS, AND INDIVIDUAL PERSONAL INTERVIEWS WITH ALL PERSONNEL. OTHER INVESTIGATIONS AND PROCEDURES ARE PERFORMED AS THEY DEEM NECESSARY UNDER THE CIRCUMSTANCES. FORM 990 - ORGANIZATION'S MISSION THE CORPORATION IS ORGANIZED, AND SHALL BE OPERATED, EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, EDUCATIONAL, AND/OR OTHER EXEMPT PURPOSES SET FORTH IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE("CODE"). SPECIFICALLY, BUT WITHOUT LIMITATION OF THE FOREGOING, THE CORPORATION IS ORGANIZED FOR THE PURPOSE OF CONDUCTING AGRICULTURAL RESEARCH. THE PRIMARY CHARITABLE ACTIVITIES OF THE CORPORATION IS WITHOUT LIMITATION DIRECTLY CONDUCTING RESEARCH TARGETED TOWARD SAVING, RESTORING, AND ENHANCING THE EXISTING HABITATS OF OYSTERS AND OTHER MARINE ORGANISMS, DEVELOPING NEW HABITATS FOR SUCH MARINE ORGANISMS, REPLENISHING AND ASSISTING IN THE LONG TERM STABILITY OF MARINE ORGANISM STACKS, DEVELOPING ENVIRONMENTALLY SUSTAINABLE MARINE ORGANISM PRODUCTION AND HARVESTING METHODOLOGIES IN THE TEXAS GULF COAST AND ELSEWHERE, AS DETERMINED BY THE CORPORATION'S BOARD OF DIRECTORS, AND DISSEMINATING AND EDUCATING THE PUBLIC, BOTH DIRECTLY AND INDIRECTLY, REGARDING ITS RESEARCH OUTCOMES. THE CORPORATION HAS ENTERED INTO COLLABORATIVE AGREEMENTS SO THAT ITS AGRICULTURAL RESEARCH IS CONDUCTED IN CONJUNCTION WITH ONE OR MORE (A) LAND-GRANT COLLEGES AND UNIVERSITIES, AND/OR (B) NON-LAND-GRANT COLLEGES OF AGRICULTURE DESIGNATED AS SUCH BY THE NATIONAL INSTITUTE OF FOOD AND AGRICULTURE. FROM 990, PART III, LINE 4A - FIRST ACCOMPLISHMENT PALACIOS AGRICULTURAL RESEARCH, INC. WAS FORMED IN 2019 AS AN AGRICULTURAL RESEARCH ORGANIZATION WITH THE PURPOSE OF DIRECTLY ENGAGING IN WITH ONE OR MORE LAND-GRANT UNIVERSITIES AND/OR NON-LAND GRANT COLLEGES OF AGRICULTURE. PALACIOS MARINE AGRICULTURAL RESEARCH, INC.'S SOLE PROGRAM SERVICE IS CONDUCTING RESEARCH TARGETED TOWARD SAVING, RESTORING, AND ENHANCING THE EXISTING HABITATS OF OYSTERS AND OTHER MARINE ORGANISMS, DEVELOPING NEW HABITATS FOR SUCH MARINE ORGANISMS, REPLENISHING, AND ASSISTING IN THE LONG-TERM STABILITY OF MARINE ORGANISM STACKS, DEVELOPING ENVIRONMENTALLY SUSTAINABLE MARINE ORGANISM PRODUCTION, AND HARVESTING METHODOLOGIES. ALL EXPENSES OF THE ORGANIZATION ARE RELATED TO THIS PROGRAM SERVICE. A MOBILE HATCHERY HAS BEEN INSTALLED AND IS OPERATIONAL. A PERMANENT HATCHERY HAS ALSO BEEN CONSTRUCTED WITH INITIAL OPERATIONS AT 10X THAT OF THE MOBILE HATCHERY. FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S PROCESS TO REVIEW FORM 990 EACH DIRECTOR IS PROVIDED A COPY OF THE FORM 990. THE FORM 990 IS EXPLAINED IN DETAIL BY THE EXECUTIVE DIRECTOR AND ALL QUESTIONS RAISED BY INDIVIDUAL BOARD MEMBERS ARE DISCUSSED. WHEN THE PRESENTATION AND DISCUSSIONS ARE COMPLETED THE BOARD TAKES THE FORMAL ACTION TO APPROVE THE FORM 990. THE BOARD'S APPROVAL IS REFLECTED IN THE MINUTES OF THE MEETING. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT OF CONFLICTS POLICY THE ORGANIZATION REQUIRES EACH DIRECTOR TO ACKNOWLEDGE THE CONFLICT OF INTEREST POLICY AT LEAST ANNUALLY, AND AT LEAST ANNUALLY REPORT ANY ONGOING POTENTIAL CONFLICTS. EACH DIRECTOR IS REQUIRED TO INFORM THE BOARD ON EACH OCCASION A POTENTIAL CONFLICT ARISES. THE BOARD ADDRESSES THE SITUATION IN ACCORDANCE WITH THE WRITTEN CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 FORM 990, PART VI, LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL SEE SCHEDULE J, PART I, LINE 3 FORM 990, PART VI, LINE 15B - COMPENSATION PROCESS FOR OFFICERS METHOD USED FOR COMPENSATION EXPLANATION: COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES IS BASED ON RECOMMENDATIONS RECEIVED FROM LEGAL COUSEL. LEGAL COUNSEL RETAINS QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS TO BASE THEIR RECOMMENDATIONS ON. THE RETAINED QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS BASE THEIR ADVICE ON MARKET SURVEYS, SITE VISITS, AND INDIVIDUAL PERSONAL INTERVIEWS WITH ALL PERSONNEL. OTHER INVESTIGATIONS AND PROCEDURES ARE PERFORMED AS THEY DEEM NECESSARY UNDER THE CIRCUMSTANCES. FORM 990, PART XI, LINE 9 - OTHER CHANGES IN NET ASSETS EXPLANATION UNREALIZED GAIN/(LOSS) ON FIXED ASSETS $ 0 FORM 990, PART VI, SECTION C, LINE 19 FORM 990, PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATION ALL DOCUMENTS REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC BY THE INTERNAL REVENUE SERVICE OR BY THE GOVERNING LAWS OF THE STATE OF TEXAS AS AVAILABLE BY WRITTEN REQUEST. THESE DOCUMENTS INCLUDE, BUT AE NOT LIMITED TO, THE CERTIFICATE OF FORMATION, FINANCIAL STATEMENTS, AND FORM 990.