2026-07-15T13:52:59-05:00 2025-08-31 742520265 COLLIER JOHNSON & WOODS PC 555 N CARANCAHUA SUITE 1000 CORPUS CHRISTI TX 784010839 990 2024-09-01 845079866 PALACIOS MARINE AGRICULTURAL RESEARCH INC PALA 3618819040 555 N CARANCAHUA SUITE 700 CORPUS CHRISTI TX 78401 CLARK C FLATO BOARD CHAIRMAN 3618819040 2026-07-15 1 1 ROBERT TROY COOK P00822030 3618849347 2024 2025-03-06 01:10:19Z CLARK C FLATO 555 N CARANCAHUA ST 700 CORPUS CHRISTI TX 78401 6377367 0 X WWW.PMARTEXAS.ORG X 2020 TX SEE SCHEDULE O 7 7 12 0 0 0 3000000 4000000 91268 472816 72508 29528 51514 38151 3215290 4540495 151510 200830 0 0 1263945 1269725 0 0 0 1498856 4993078 2914311 6463633 300979 -1923138 4338603 2381351 138718 105018 4199885 2276333 X SEE SCHEDULE O 0 0 6205589 200830 SEE SCHEDULE O 6205589 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 19 0 1 12 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 7 7 0 0 1 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 164144 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 200769 0 7091 PAUL HEATH ADVISORY DIRECTOR 2.00 X 0 0 0 ROBERT HEIN MANAGER 40.00 X 105506 0 0 470419 0 7091 3 0 1 0 0 4000000 4000000 OYSTER SEED SALES 112512 472816 472816 472816 21175 21175 53526 15375 38151 38151 38151 1808950 20900 1808792 12705 158 8195 8353 8353 4540495 481169 0 59326 200830 200830 364914 324760 40154 761639 722750 38889 67541 67533 8 75631 73287 2344 152494 136699 15795 1396 1396 79959 79959 20586 20586 326833 302007 24826 48928 47595 1333 129924 107383 22541 63985 62006 1979 3725 3725 27122 27122 EQUIPMENT AND TOOLS 2253967 2253967 REPAIRS AND MAINTENANCE 1834136 1817798 16338 FEES AND DUES 45157 32788 12369 PAYROLL FEES 3612 2103 1509 1254 1254 6463633 6205589 258044 0 317568 446023 42944 106207 61007 51355 1277850 0 3917084 1277850 499916 4338603 2381351 71529 34434 67189 70584 138718 105018 X 4199885 2276333 4199885 2276333 4338603 2381351 -1923138 -414 0 X 0 0 0 X TEXAS A&M UNIVERSITY - CORPUS CHRISTI CORPUS CHRISTI TX RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1233850 1233850 44000 44000 1277850 ACCRUED LEAVE 67034 PREPAID RENT INCOME 3550 70584 1 OYSTER SOUTH 303 E HOWARD AVE DECATUR GA 30030 813434897 501C3 7000 0 MARINE RESEARCH TEXAS A&M UNIVERSITY 6300 OCEAN DRIVE UNIT 5869 CORPUS CHRISTI TX 78412 741760663 115 36006 0 MARINE RESEARCH C CENAC & CO 13801 ARBOR CIR OCEAN SPRINGS MS 39564 932671171 NA 15964 0 MARINE RESEARCH CAE MAE SEA FOUNDATION 9214 MAROVELLI FORREST DR LORTON VA 22079 851430368 501C3 31886 0 MARINE RESEARCH NATIONAL FISHERIES RESTORATION 6268 KIMBROUGH BLVD BILOXI MS 39532 205678843 501C3 90820 0 MARINE RESEARCH TEXAS FLOATING CLASSROOM INC PO BOX 2286 ARANSAS PASS TX 78335 464753799 501C3 6800 0 MARINE RESEARCH 5 1 PART IV - ADDITIONAL INFORMATION PALACIOS MARINE AGRICULTURAL RESEARCH, INC. PROVIDES GRANT FUNDING TO VERIFIED NON-PROFITS THAT SHARE IN MARINE RESEARCH & RESTORATION EFFORTS OR PROVIDES SUPPORT TO LOCAL COMMUNITIES OR COMPANIES ASSOCIATED WITH NON PROFITS TO PROVIDE MARINE RESEARCH STUDIES. 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 JAMES MEYN CHIEF EXECUTIVE OFFICER 200769 0 0 0 0 0 0 0 7091 0 207860 0 0 0 LARRY MCKINNEY DIRECTOR 164144 0 0 0 0 0 0 0 0 0 164144 0 0 0 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. FORM 990, PART III, LINE 4A - FIRST ACCOMPLISHMENT PALACIOS MARINE AGRICULTURAL RESEARCH, INC. WAS FORMED IN 2019 AS AN AGRICULTURAL RESEARCH ORGANIZATION WITH THE PURPOSE OF DIRECTLY ENGAGING IN THE CONTINUOUS AND ACTIVE CONDUCT OF AGRICULTURAL RESEARCH IN CONJUNCTION 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. THE NEW INTERMEDIATE HATCHERY WAS COMPLETED AND BECAME OPERATIONAL DURING THIS FISCAL YEAR. THE MAJORITY OF HATCHERY OPERATIONS WERE TRANSITIONED TO THE NEW FACILITY DURING THIS PERIOD. MOST EXPENDITURES INCURRED DURING THE FISCAL YEAR WERE RELATED TO THE COMPLETION OF THE HATCHERY, AS WELL AS IMPROVEMENTS TO THE MARINE EDUCATION CENTER AND HOSPITALITY FACILITY. IN ADDITION, FAIR MARKET VALUE ADJUSTMENTS FOR EQUIPMENT AND TOOLS WERE RECOGNIZED DURING THE CURRENT FISCAL YEAR. FORM 990, PART VI, SECTION A, LINE 4 SIGNIFICANT CHANGES TO ORGANIZATIONAL DOCUMENTS THE BYLAWS OF THE ORGANIZATION WERE AMENDED AND RESTATED TO REFLECT THE CATEGORY OF "ADVISORY DIRECTORS" BUT NOT AN "ADVISORY BOARD AND TO INCLUDE THE PERMISSIBLE OFFICERS OF THE FOUNDATION TO INCLUDE A CHIEF EXECUTIVE OFFICER. 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 CHIEF EXECUTIVE OFFICER AND ALL QUESTIONS RAISED BY INDIVIDUAL BOARD MEMBERS ARE DISCUSSED. WHEN THE PRESENTATION AND DISCUSSIONS ARE COMPLETED THE BOARD TAKES 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 THE CEO'S COMPENSATION IS DETERMINED BASED ON INFORMATION PROVIDED BY AN INDEPENDENT COMPENSATION CONSULTANT, RELEVANT COMPENSATION SURVEYS, AND COMPARABLE MARKET DATA. THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE COMPENSATION TO ENSURE IT IS REASONABLE. 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 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, 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 ARE NOT LIMITED TO, THE CERTIFICATE OF FORMATION, FINANCIAL STATEMENTS, AND FORM 990.