OCEAN EXPLORATION TRUST INC (EIN 830488383) - Form 990 Financial Analysis & Trantor Score

🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Financial Trends

Organization Details

Formation Year

2007

Legal Domicile

Principal Officer

DR ROBERT BALLARD

Phone

8605749079

Tax Period

2023-01-01 to 2023-12-31

OCEAN EXPLORATION TRUST INC, founded in 2007, is a mid-sized nonprofit in the Environment sector that reported $15.0M in total revenue in fiscal year 2023. Revenue grew 11% year-over-year, indicating healthy expansion.

Mission

ADVANCE THE EMERGING FIELDS OF OCEAN EXPLORATION AND ARCHAELOGICAL OCEANOGRAPHY THROUGH CO-SPONSORING AND SUPPORTING DEEP SEA EXPEDITIONS AND SUPPORTING THE DEVELOPMENT OF ADVANCED TECHNOLOGY REQUIRED BY DEEP SEA EXPEDITIONS. FURTHERING PUBLIC INTEREST AND SCIENTIFIC RESEARCH IN THE FIELDS OF OCEAN EXPLORATION AND ARCHAELOGICAL OCEANOGRAPHY THROUGH THE SUPPORT OF REAL-TIME EDUCATIONAL PROGRAMMING AND DISSEMINATION OF DEEP SEA EXPEDITION RESEARCH THROUGH A VARIETY OF EDUCATIONAL OUTREACH EFFORTS.

🔒

Trantor Score

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

Sign in to view Trantor Score and financial metrics

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $12,647,875

Program Service Revenue $2,266,315

Investment Income $0

Other Revenue $68,313

TOTAL REVENUE $14,982,503

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,364,042

Fundraising Expenses $145,176

Program Expenses $12,498,072

Other Expenses $12,139,921

TOTAL EXPENSES $15,503,963

Year-over-Year Comparison

	2023	2022	Change
Revenue	$14,982,503	$13,454,946	+0.1%
Expenses	$15,503,963	$14,376,842	+0.1%
Net Income	$-521,460	$-921,896	-0.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

🔒

Financial Health Indicators

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

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$1,515,911

Total Directors

$642,085

Key Employees

$506,431

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DR ROBERT BALLARD	PRESIDENT	40.00	Officer Director	$579,716	$62,369	$642,085
ROBERT PATRICELLI	CHAIRMAN	1.00	Officer Director	$0	$0	$0
LARRY MAYER	VICE CHAIRMAN	1.00	Officer Director	$0	$0	$0
ARTHUR HOUSE	DIRECTOR	1.00	Director	$0	$0	$0
JACQUELINE HOLLISTER	DIRECTOR	1.00	Director	$0	$0	$0
PETER GIRGUIS	DIRECTOR	1.00	Director	$0	$0	$0
JOHN CULBERSON	DIRECTOR	1.00	Director	$0	$0	$0
VICKI PHILLIPS	DIRECTOR	1.00	Director	$0	$0	$0
DR ENRIC SALA	DIRECTOR	1.00	Director	$0	$0	$0
KRISTIN RECHBERGER	DIRECTOR	1.00	Director	$0	$0	$0
BARBARA SMIT	DIRECTOR	1.00	Director	$0	$0	$0
NEIL SMIT	DIRECTOR	1.00	Director	$0	$0	$0
ELIZABETH LINDSAY	DIRECTOR	1.00	Director	$0	$0	$0
PHIL STEPHENSON	DIRECTOR	1.00	Director	$0	$0	$0
DENISE H ARMSTRONG	CFO/TREASURER	40.00	Officer	$408,882	$41,566	$450,448
ALLISON FUNDIS	COO/BOT SECRETARY	40.00	Officer	$379,091	$44,287	$423,378
DANIEL WAGNER	CHIEF SCIENTIST	40.00	Key Emp	$156,856	$22,571	$179,427
ROBERT WATERS	ROV PILOT/MANAGER	40.00	Key Emp	$152,951	$13,594	$166,545
MATTHEW KOSKELA	DIRECTOR DATA SYSTEMS	40.00	Key Emp	$153,624	$6,835	$160,459
RICHARD DARLING	CONTROLLER	40.00	Highest	$133,672	$18,317	$151,989
JANICE MEAGHER	EXECUTIVE ASSISTANT	40.00	Highest	$121,311	$6,811	$128,122
DEREK C SOWERS	MAPPING OPERATIONS MANAGER	40.00	Highest	$124,909	$22,846	$147,755
MEGAN D COOK	EDUCATION/OUTREACH DIRECTOR	40.00	Highest	$117,983	$5,505	$123,488

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	$14,982,503	$15,503,963	$10,744,251	$-521,460
2022	$13,454,946	$14,376,842	$12,779,785	$-921,896
2021	$11,787,296	$12,985,546	$13,235,771	$-1,198,250
2020	$9,650,102	$9,840,343	$13,603,493	$-190,241
2019	$11,932,015	$10,947,732	$12,274,412	$984,283
2018	$10,708,339	$9,899,081	$10,442,797	$809,258

OCEAN EXPLORATION TRUST INC