MARINE RESOURCES DEVELOPMENT FOUNDATION

EIN: 670258256 501(c)(3) Science & Technology

KEY LARGO, FL

Total Revenue
$3,182,234
Total Expenses
$10,100,182
Total Assets
$31,740,227
Net Assets
$23,070,082
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1970
Legal Domicile
FL
Principal Officer
GINETTE HUGHES
Phone
3054511139
Tax Period
2023-01-01 to 2023-12-31

MARINE RESOURCES DEVELOPMENT FOUNDATION, founded in 1970, is a community nonprofit in the Science & Technology sector that reported $3.2M in total revenue in fiscal year 2023. Revenue fell 88% from the prior year — a significant decline worth monitoring. Expenses of $10.1M exceeded revenue, resulting in a 217% operating deficit.

Mission

PROMOTING RESPONSIBLE & SUSTAINABLE USE OF MARINE RESOURCES THROUGH EDUCATION, RESEARCH,& COLLABORATION.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $445,839
Program Service Revenue $2,559,873
Investment Income $11,703
Other Revenue $164,819
TOTAL REVENUE $3,182,234

Expense Breakdown

Grants Paid $0
Salaries & Benefits $1,446,824
Fundraising Expenses $7,361,221
Program Expenses $1,810,658
Other Expenses $8,653,358
TOTAL EXPENSES $10,100,182

Year-over-Year Comparison

2023 2022 Change
Revenue $3,182,234 $26,715,726 -0.9%
Expenses $10,100,182 $7,845,779 +0.3%
Net Income $-6,917,948 $18,869,947 -1.4%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
9
Independent Members
8
Employees
64
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
⚠ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$75,449
Total Directors
7
$57,331
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
DAVID STONE DIRECTOR 0.50
Director
$0 $0 $0
NEIL MONNEY VICE CHAIRMAN 0.50
Director
$0 $0 $0
CRAIG MULLEN DIRECTOR 0.50
Director
$0 $0 $0
KATHLEEN MCCUE SECRETARY 1.00
Director
$0 $0 $0
SHAWN TOLLEY DIRECTOR 1.00
Director
$0 $0 $0
LES BURKE DIRECTOR 1.00
Director
$0 $0 $0
SARAH EGNER OFFICER 32.00
Director
$57,331 $0 $57,331
BOB RUSSELL DIRECTOR 0.50
Officer
$0 $0 $0
TONYA KOBLICK DIRECTOR 0.50
Officer
$0 $0 $0
GINETTE HUGHES CEO 40.00
Officer
$75,449 $0 $75,449
IAN KOBLICK CHAIRMAN AND DIRECTOR 20.00
Officer
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $3,182,234 $10,100,182 $31,740,227 $-6,917,948
2022 $26,715,726 $7,845,779 $36,320,568 $18,869,947
2021 $9,020,399 $20,561,103 $14,206,249 $-11,540,704
2020 $1,351,257 $11,431,530 $32,963,977 $-10,080,273
2019 $15,168,945 $10,367,923 $44,654,476 $4,801,022
2018 $12,377,516 $9,707,052 $37,860,916 $2,670,464
2018 $21,903,248 $10,101,771 $42,781,679 $11,801,477
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