Marine Technology Society Inc
- Assets
- $7.1m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 4
- Location
- Washington, DC
- Founding
- 08/1969
- Data as of
- 06/2022
- EIN
- 52-0805471
Organization Overview
Marine Technology Society Inc is located in Washington, DC. The organization was established in 1969. 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 06/2022, Marine Technology Society Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Marine Technology Society 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 06/2022, Marine Technology Society Inc generated $1.9m 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 (8.7%) each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. As we would expect to see with falling revenues, expenses have declined by (8.4%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AWARENESS, UNDERSTANDING, ADVANCEMENT AND APPLICATION OF MARINE TECHNOLOGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES AND WORKSHOPS: ANNUAL REGIONAL, LOCAL, AND INTERNATIONAL CONFERENCES ON MATTERS RELATING TO THE OCEAN AND MARINE TECHNOLOGY. ADDITIONALLY, MTS OFFERED SEVERAL FREE-OF-CHARGE WEBINARS IN FY 2022.
MEMBERSHIP SERVICES: SUPPORT AND SERVICE TO MEMBERS
PUBLICATIONS: DISTRIBUTION OF OCEAN AND MARINE TECHNOLOGY LITERATURE AND PERIODICALS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kathleen Herndon Executive Dir. | Officer | 40 | $164,800 |
Kristina Norman Director Of Events | 40 | $112,923 | |
Justin Manley President Elect | OfficerTrustee | 1 | $0 |
Richard Crout VP Sec. Affairs | OfficerTrustee | 1 | $0 |
Jerry Miller VP Govt Affairs | OfficerTrustee | 1 | $0 |
Zdenka Willis President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $295,291 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,505 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $296,796 |
| Total Program Service Revenue | $1,407,765 |
| Investment income | $94,214 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $24,689 |
| Net Income from Fundraising Events | $57,175 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,889,360 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $32,884 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $189,213 |
| Compensation of current officers, directors, key employees. | $85,146 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $281,864 |
| Pension plan accruals and contributions | $13,545 |
| Other employee benefits | $40,858 |
| Payroll taxes | $39,315 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,899 |
| Fees for services: Accounting | $105,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,337 |
| Fees for services: Other | $153,679 |
| Advertising and promotion | $999 |
| Office expenses | $41,886 |
| Information technology | $80,530 |
| Royalties | $0 |
| Occupancy | $38,594 |
| Travel | $107,032 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $479,830 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,737 |
| Insurance | $20,575 |
| All other expenses | $0 |
| Total functional expenses | $1,776,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $948,059 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $790,981 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $174,612 |
| Net Land, buildings, and equipment | $1,872 |
| Investments—publicly traded securities | $5,197,794 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $19,368 |
| Other assets | $0 |
| Total assets | $7,132,686 |
| Accounts payable and accrued expenses | $119,450 |
| Grants payable | $0 |
| Deferred revenue | $70,344 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $267,166 |
| Total liabilities | $456,960 |
| Net assets without donor restrictions | $6,639,491 |
| Net assets with donor restrictions | $36,235 |
| 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 | $7,132,686 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Marine Technology Society Inc has recieved totaling $11,000.
| Awarding Organization | Amount |
|---|---|
Schmidt Ocean Institute Palo Alto, CA PURPOSE: MARINE TECHNOLOGY SOCIETY SPONSORSHIP OCEANS (GLOBAL) STUDENT POSTER COMPETITION | $6,000 |
The Schmidt Family Foundation Palo Alto, CA PURPOSE: OCEAN STEWARDSHIP AND RESEARCH | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consortium For Ocean Leadership Inc Washington, DC | $4,687,674 | $4,673,668 |
Marine Technology Society Inc Washington, DC | $7,132,686 | $1,889,360 |
Marine Science Consortium Inc Wallops Island, VA | $12,768,305 | $1,791,311 |
The Washington Dc Area Marine Aquarist Society Reston, VA | $128,850 | $281,664 |
Responsible Offshore Science Alliance Washington, DC | $629,297 | $295,000 |
Ocean Visions Inc Leesburg, VA | $2,405,679 | $2,291,104 |
Molluscan Science Foundation Inc Owings Mills, MD | $17,270,125 | $2,816,927 |
Crustacean Society Herndon, VA | $915,214 | $104,058 |
Foundation For Underwater Research And Education Inc Haymarket, VA | $66,529 | $0 |
Ipac Marine Environmental Research Corporation Melfa, VA | $47,772 | $0 |
Center For Research On The Changing Earth System Clarksville, MD | $8,563 | $0 |