Bermuda Institute Of Ocean Sciences Bios Inc
- Assets
- $48.1m
- Revenue
- $11.9m
- Investments
- $0.0
- Employees
- 40
- Location
- Founding
- 10/1947
- Data as of
- 12/2021
- EIN
- 06-0706038
Organization Overview
Bermuda Institute Of Ocean Sciences Bios Inc is located in null. The organization was established in 1947. According to its NTEE Classification (U50) the organization is classified as: Biological & Life Sciences, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Bermuda Institute Of Ocean Sciences Bios Inc employed 40 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bermuda Institute Of Ocean Sciences Bios Inc 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, Bermuda Institute Of Ocean Sciences Bios Inc generated $11.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $15.4m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Bermuda Institute Of Ocean Sciences Bios Inc has awarded 83 individual grants totaling $10,585,180. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
BIOS'S MISSION IS TO SEEK AND SHARE FUNDAMENTAL KNOWLEDGE OF THE OCEANS (CONTINUED IN SCHEDULE O) THROUGH STATE-OF-THE-ART SCIENTIFIC RESEARCH, WORLD-CLASS FIELD EXPEDITIONS, AND COMPREHENSIVE EDUCATIONAL EXPERIENCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O.
SEE SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Curry PHD President And CEO | Officer | 40 | $404,124 |
Nicholas Bates Senior Scientist And Dir. Of Research | Officer | 40 | $234,062 |
William Graham- Welton Chief Finanical And Operation | Officer | 40 | $217,153 |
Quentin Lewis Marine Superintendent | 40 | $177,020 | |
Victoria Millett Treasurer/controller | Officer | 40 | $173,040 |
Andrew Peters Director Of Education | 40 | $140,595 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Markey Machinery Company Inc Winch Fabrication And Servicing | 12/30/21 | $135,226 |
Bernhard Schulte Shipmanagement (Isle Of Ship Management Services | 12/30/21 | $326,866 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $8,648,807 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,963,337 |
| Noncash contributions included in lines 1a–1f | $50,704 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,612,144 |
| Total Program Service Revenue | $1,137,678 |
| Investment income | $548 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $123,840 |
| Net Gain/Loss on Asset Sales | $5,090 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $14,648 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,893,948 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,386,698 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $289,055 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,277,280 |
| Compensation of current officers, directors, key employees. | $1,010,515 |
| Compensation to disqualified persons | $141,996 |
| Other salaries and wages | $4,255,272 |
| Pension plan accruals and contributions | $167,731 |
| Other employee benefits | $451,667 |
| Payroll taxes | $265,223 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $52,487 |
| Fees for services: Accounting | $69,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $69,349 |
| Fees for services: Other | $696,932 |
| Advertising and promotion | $833 |
| Office expenses | $217,154 |
| Information technology | $62,426 |
| Royalties | $0 |
| Occupancy | $348,758 |
| Travel | $610,897 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,181 |
| Interest | $412,360 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,163,788 |
| Insurance | $302,108 |
| All other expenses | $132,976 |
| Total functional expenses | $15,446,520 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,943,842 |
| Savings and temporary cash investments | $2,417,593 |
| Pledges and grants receivable | $7,397,602 |
| Accounts receivable, net | $273,716 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $66,434 |
| Prepaid expenses and deferred charges | $43,049 |
| Net Land, buildings, and equipment | $15,171,949 |
| Investments—publicly traded securities | $17,829,059 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,352 |
| Total assets | $48,144,596 |
| Accounts payable and accrued expenses | $723,174 |
| Grants payable | $59,099 |
| Deferred revenue | $755,358 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $5,432,088 |
| Unsecured mortgages and notes payable | $927,125 |
| Other liabilities | $0 |
| Total liabilities | $7,896,844 |
| Net assets without donor restrictions | $2,726,897 |
| Net assets with donor restrictions | $37,520,855 |
| 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 | $48,144,596 |
Grants Awarded
Over the last fiscal year, Bermuda Institute Of Ocean Sciences Bios Inc has awarded $1,386,698 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Woods Hole, MA PURPOSE: TO FACILITATE SCIENTIFIC RESEARCH | $353,114 |
Woods Hole, MA PURPOSE: TO FACILITATE SCIENTIFIC RESEARCH | $301,187 |
OREGON STATE UNIVERSITY PURPOSE: TO FACILITATE SCIENTIFIC RESEARCH | $296,917 |
Santa Barbara, CA PURPOSE: TO FACILITATE SCIENTIFIC RESEARCH | $260,852 |
Coral Gables, FL PURPOSE: TO FACILITATE SCIENTIFIC RESEARCH | $113,725 |
Kingston, RI PURPOSE: TO FACILITATE SCIENTIFIC RESEARCH | $38,932 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Bermuda Institute Of Ocean Sciences Bios Inc has recieved totaling $113,217.
| Awarding Organization | Amount |
|---|---|
University Of Miami Coral Gables, FL PURPOSE: RESEARCH | $113,217 |
Endowment Analysis
| Beg. Balance | $16,702,617 |
| Earnings | $1,924,050 |
| Admin Expense | $69,349 |
| Net Contributions | $26,500 |
| Other Expense | $727,958 |
| Ending Balance | $17,855,860 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
International Center Of Insect Physiology And Ecology | $70,607,275 | $37,905,862 |
Cab International | $43,064,180 | $42,132,938 |
Bermuda Institute Of Ocean Sciences Bios Inc | $48,144,596 | $11,893,948 |
International Society For Biological And Environmental Repos | $733,137 | $656,366 |
International Society Of Protistologists Inc | $1,621,967 | $273,663 |