Woods Hole Oceanographic Institution
- Assets
- $725.8m
- Revenue
- $294.7m
- Investments
- $490.9m
- Employees
- 1,196
- Location
- Woods Hole, MA
- Founding
- 12/1954
- Data as of
- 12/2021
- EIN
- 04-2105850
Organization Overview
Woods Hole Oceanographic Institution is located in Woods Hole, MA. The organization was established in 1954. According to its NTEE Classification (U21) the organization is classified as: Marine Science & Oceanography, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Woods Hole Oceanographic Institution employed 1,196 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Woods Hole Oceanographic Institution is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Woods Hole Oceanographic Institution generated $294.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $297.4m during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
SPONSORED AND INSTITUTIONAL RESEARCH IN OCEANOGRAPHY AND RELATED FIELDS: OF THE 997 SPONSORED RESEARCH AWARDS, 683 AWARDS ARE FROM 8 FEDERAL AGENCIES AND 314 ARE FROM 143 OTHER SPONSORS. INSTITUTION RESEARCH SPONSORED 302 PROJECTS FROM UNRESTRICTED FUNDS. IN ADDITION, WOODS HOLE OCEANOGRAPHIC INSTITUTION ISSUED 693 PUBLICATIONS IN 2021.
EDUCATION: JOINT GRADUATE PROGRAM WITH M.I.T. IN THE MARINE SCIENCES. IN 2021, THERE WERE 153 GRADUATE STUDENTS, 28 DEGREE RECIPIENTS, 49 POST DOCTORAL SCHOLARS AND FELLOWS, 31 SUMMER STUDENT FELLOWS AND 92 GUEST STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Abbott Former Pres./director | 50 | $1,208,796 | |
Peter DE Menocal President/director | OfficerTrustee | 50 | $580,970 |
Christopher Land VP Legal Affairs/gen. Counsel | OfficerTrustee | 50 | $371,186 |
Robert Munier VP Marine Facilities & Ops | Officer | 50 | $347,712 |
Samuel Harp VP For Advancement & Cmo | 50 | $339,126 | |
Kathryn Link VP Ops & CFO (as Of 3/31/21) | Officer | 50 | $335,783 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dakota Creek Industries Inc Scientific Research | 12/30/21 | $7,472,541 |
Teledyne Webb Research Scientific Research | 12/30/21 | $1,713,252 |
Mclane Research Lab Inc Scientific Research | 12/30/21 | $865,302 |
Mrv Systems Llc Scientific Research | 12/30/21 | $2,404,817 |
Kongsberg Underwater Technology Scientific Research | 12/30/21 | $806,158 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $223,805,211 |
| All other contributions, gifts, grants, and similar amounts not included above | $62,608,328 |
| Noncash contributions included in lines 1a–1f | $244,047 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $286,413,539 |
| Total Program Service Revenue | $7,739,564 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $99,988 |
| Net Rental Income | $183,998 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $294,655,196 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,087,932 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,156,037 |
| Compensation of current officers, directors, key employees. | $1,192,746 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $84,141,002 |
| Pension plan accruals and contributions | $22,265,867 |
| Other employee benefits | $24,987,920 |
| Payroll taxes | $6,924,463 |
| Fees for services: Management | $2,420,615 |
| Fees for services: Legal | $909,277 |
| Fees for services: Accounting | $627,420 |
| Fees for services: Lobbying | $97,937 |
| Fees for services: Fundraising | $103,941 |
| Fees for services: Investment Management | $2,988,253 |
| Fees for services: Other | $546,287 |
| Advertising and promotion | $750,329 |
| Office expenses | $15,565,368 |
| Information technology | $1,746,893 |
| Royalties | $0 |
| Occupancy | $3,527,070 |
| Travel | $2,746,172 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,825,098 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,893,040 |
| Insurance | $5,075,336 |
| All other expenses | $11,152,710 |
| Total functional expenses | $297,419,661 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,493,578 |
| Savings and temporary cash investments | $25,941,450 |
| Pledges and grants receivable | $14,840,619 |
| Accounts receivable, net | $54,069,694 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $797,178 |
| Inventories for sale or use | $3,593,840 |
| Prepaid expenses and deferred charges | $5,086,180 |
| Net Land, buildings, and equipment | $113,765,416 |
| Investments—publicly traded securities | $865,208 |
| Investments—other securities | $490,905,541 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,418,256 |
| Total assets | $725,776,960 |
| Accounts payable and accrued expenses | $37,884,614 |
| Grants payable | $0 |
| Deferred revenue | $3,043,177 |
| Tax-exempt bond liabilities | $80,202,348 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $86,006,724 |
| Total liabilities | $207,136,863 |
| Net assets without donor restrictions | $43,855,666 |
| Net assets with donor restrictions | $474,784,431 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $725,776,960 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Woods Hole Oceanographic Institution has recieved totaling $33,500.
| Awarding Organization | Amount |
|---|---|
Lockhart Vaughan Foundation Inc Baltimore, MD PURPOSE: ENVIRONMENT: CLIMATE CHANGE. | $18,000 |
The Robert L James And Anne K James Foundation Albany, NY PURPOSE: GENERAL CHARITABLE PURPOSES | $10,000 |
Lintilhac Foundation Shelburne, VT PURPOSE: ANNUALSUPPORT | $5,000 |
Paul Rizzoli Family Foundation Boston, MA PURPOSE: RESEARCH | $500 |
Endowment Analysis
| Beg. Balance | $469,357,845 |
| Earnings | $63,694,436 |
| Net Contributions | $821,485 |
| Other Expense | $20,856,000 |
| Ending Balance | $513,017,766 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Woods Hole Oceanographic Institution Woods Hole, MA | $725,776,960 | $294,655,196 |
Oceanographic Research & Exploration Foundation Westport, CT | $202,911,238 | $27,525,774 |
Sea Education Association Inc Falmouth, MA | $20,669,049 | $7,982,566 |
The Global Foundation For Ocean Exploration Inc Mystic, CT | $2,739,847 | $5,589,475 |
Project Ceti Inc New York, NY | $10,739,468 | $7,996,157 |
Northeastern Regional Association Of Coastal Ocean Observation Syste Portsmouth, NH | $603,712 | $3,843,145 |
Inter District Committee For Project Oceanology Groton, CT | $1,360,230 | $1,726,047 |
Atlantic White Shark Conservancy Inc Chatham, MA | $1,610,848 | $1,610,574 |
The Perry Institute For Marine Science Inc Waitsfield, VT | $1,181,677 | $1,963,951 |
Research Applied Technologyeducation Service Incorporated Potsdam, NY | $614,658 | $920,167 |
Society For Marine Mamalogy Yarmouth Port, MA | $3,099,610 | $367,619 |
American Saltwater Guides Association Inc Oceanside, NY | $340,083 | $502,533 |