Harbor Branch Oceanographic Institution Foundation Inc
- Assets
- $102.8m
- Revenue
- $9.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Vero Beach, FL
- Founding
- 05/1977
- Data as of
- 06/2021
- EIN
- 59-1644333
Organization Overview
Harbor Branch Oceanographic Institution Foundation Inc is located in Vero Beach, FL. The organization was established in 1977. According to its NTEE Classification (U21) the organization is classified as: Marine Science & Oceanography, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Harbor Branch Oceanographic Institution Foundation 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 06/2021, Harbor Branch Oceanographic Institution Foundation Inc generated $9.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $5.3m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Harbor Branch Oceanographic Institution Foundation Inc has awarded 22 individual grants totaling $18,548,937. 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
HARBOR BRANCH OCEANOGRAPHIC INSTITUTE FOUNDATION PROVIDES FUNDING & SUPPORT TO HARBOR BRANCH OCEANOGRAPHIC INSTITUTE AT FAU FOR RESEARCH & EDUCATION IN MARINE SCIENCES & OCEAN
Describe the Organization's Program Activity:
Part 3 - Line 4a
HARBOR BRANCH OCEANOGRAPHIC INSTITUTE FOUNDATIN, INC. IS THE LEGISLATIVELY-DESIGNATED RECIPIENT FROM THE STATE OF FLORIDA FOR AND ADMINISTERS THE FLORIDA "PROTECT WILD DOLPHINS", "PROTECT FLORIDA WHALES", "AQUACULTURE", AND "SAVE OUR SEAS" LICENSE PLATE PROGRAMS. THE PROCEEDS FROM THE SALE OF THESE LICENSE PLATES, ALONG WITH THE CALCULATED ANNUAL SPENDABLE FUNDING GENERATED FROM INVESTMENTS SUPPORT VETTED FINITE GRANTS SUBJECT TO SPECIFIED TERMS. SAID GRANT HELPED FUND THE ADDITION OF CERTAIN NEW FACULTY, PROVIDE FACULTY INCENTIVES, PROVIDE SALARY SUPPORT, RESEARCH PROJECTS, FELLOWSHIPS, AND CERTAIN OPERATIONAL SUPPORT AT THE HARBOR BRANCH OCEANOGRAPHIC INSTITUTE AT FAU.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbra Kavanaugh Interim Executive Director | Officer | 40 | $124,680 |
Marjorie Raines Treasurer | OfficerTrustee | 1 | $0 |
William Stewart Secretary / Ex Officio | OfficerTrustee | 1 | $0 |
Michael Toner Vice Chairman | OfficerTrustee | 1 | $0 |
Michael Brown Sr Board Member | Trustee | 1 | $0 |
C Amos Bussman Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,870,037 |
| Investment income | $2,802,072 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,749,379 |
| Net Income from Fundraising Events | -$8,437 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,522,450 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $85,922 |
| Pension plan accruals and contributions | $6,968 |
| Other employee benefits | $0 |
| Payroll taxes | $9,502 |
| Fees for services: Management | $157,049 |
| Fees for services: Legal | $627,636 |
| Fees for services: Accounting | $98,335 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $79,000 |
| Fees for services: Other | $0 |
| Advertising and promotion | $329,516 |
| Office expenses | $0 |
| Information technology | $10,901 |
| Royalties | $0 |
| Occupancy | $78,919 |
| Travel | $4,710 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $142 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,514 |
| Insurance | $81,924 |
| All other expenses | $0 |
| Total functional expenses | $5,276,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,477,304 |
| Savings and temporary cash investments | $31,672 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $57,224 |
| Investments—publicly traded securities | $95,495,887 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $102,821,969 |
| Accounts payable and accrued expenses | $110,253 |
| Grants payable | $807,273 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $917,526 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $101,904,443 |
Grants Awarded
Over the last fiscal year, Harbor Branch Oceanographic Institution Foundation Inc has awarded $2,296,772 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
FLORIDA ATLANTIC UNIVERSITY PURPOSE: RESEARCH GRANTS & PER FL STATUE | $2,070,693 |
GUY HARVEY OCEAN FOUNDATION INC PURPOSE: PER FL STATUE | $144,567 |
Rancho Santa Margarita, CA PURPOSE: PER FL STATUE | $42,814 |
Clearwater, FL PURPOSE: RESEARCH GRANTS | $10,000 |
San Diego, CA PURPOSE: RESEARCH GRANTS | $9,998 |
Cocoa, FL PURPOSE: RESEARCH GRANTS | $9,800 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Harbor Branch Oceanographic Institution Foundation Inc has recieved totaling $30,065.
| Awarding Organization | Amount |
|---|---|
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $25,000 |
Prentice Foundation Inc Wilmington, DE PURPOSE: RESEARCH RELATED TO THE HEALTH OF THE INDIAN RIVER LAGOON | $5,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $65 |
Endowment Analysis
| Beg. Balance | $69,762,799 |
| Earnings | $22,416,127 |
| Other Expense | $2,454,821 |
| Ending Balance | $89,724,105 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harbor Branch Oceanographic Institution Foundation Inc Vero Beach, FL | $102,821,969 | $9,522,450 |
Loggerhead Marinelife Center Inc Juno Beach, FL | $33,821,414 | $7,891,474 |
Florida Oceanographic Society Inc Stuart, FL | $10,987,978 | $3,269,743 |
Charles F Chapman School Of Seamanship Inc Stuart, FL | $4,982,985 | $2,226,904 |
Sea To Shore Alliance Clearwater, FL | $214,918 | -$2 |
Marine Science Foundation Stuart, FL | $754,154 | $1,403,481 |
Blue World Research Institute Inc Cocoa, FL | $159,452 | $809,366 |
Bimini Biological Field Station Foundation Inc Hollywood, FL | $1,569,665 | $516,165 |
Oceans For Youth Foundation Augusta, GA | $271,528 | $311,391 |
Saving The Blue Cooper City, FL | $136,410 | $292,176 |
Florida Ocean Alliance Inc Fort Lauderdale, FL | $106,806 | $0 |
Ladies Annual Fish-Off Inc Lighthouse Point, FL | $6,241 | $0 |