OCEANOGRAPHIC RESEARCH & EXPLORATI… - Form 990 Financial Data

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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

2018

Legal Domicile

Principal Officer

JANINE RACANELLI

Phone

2032915000

Tax Period

2024-01-01 to 2024-12-31

OCEANOGRAPHIC RESEARCH & EXPLORATION FOUNDATION, founded in 2018, is a mid-sized nonprofit in the Science & Technology sector that reported $33.5M in total revenue in fiscal year 2024. Expenses of $44.3M exceeded revenue, resulting in a 32% operating deficit.

Mission

THROUGH A SERIES OF INTEGRATED PROGRAMS, OREF 1) SUPPORTS AND CONDUCTS SCIENTIFIC RESEARCH AND EXPLORATION OF THE EARTH'S OCEANS WITH A WORLD CLASS RESEARCH AND EXPLORATION SHIP AND PACKAGE OF EQUIPMENT, ENABLING SUCH SCIENTIFIC RESEARCH AND EXPLORATION AND 2) CREATES AND DISTRIBUTES MEDIA AND OTHER DOCUMENTATION HIGHLIGHTING THAT SCIENTIFIC RESEARCH AND DISCOVERY TO PROMOTE PUBLIC AWARENESS, ENGAGEMENT AND PROTECTION OF THE OCEANS AND THE DIVERSE COMMUNITIES THEY SUPPORT. OREF MAY CARRY OUT ITS SOCIAL WELFARE PURPOSES DIRECTLY OR IN CONJUNCTION WITH OTHER ORGANIZATIONS, ENTITIES OR PARTNERS.

Program Service Accomplishments

Program 1

Expenses: $34,006,367 Revenue: $1,350,000

CONDUCT RESEARCH AND DISCOVERY OF THE EARTH'S OCEANS AND FOSTER AND PROMOTE PUBLIC AWARENESS, ADVOCACY, SCIENTIFIC DISCOVERY, AND ENGAGEMENT TO FOSTER GREATER STEWARDSHIP AND PROTECTION OF THE...

CONDUCT RESEARCH AND DISCOVERY OF THE EARTH'S OCEANS AND FOSTER AND PROMOTE PUBLIC AWARENESS, ADVOCACY, SCIENTIFIC DISCOVERY, AND ENGAGEMENT TO FOSTER GREATER STEWARDSHIP AND PROTECTION OF THE OCEANS. COLLABORATE WITH LEADING SCIENTIFIC, MEDIA AND PHILANTHROPIC ORGANIZATIONS TO FURTHER SCIENTIFIC DISCOVERY OF THE OCEANS AND THEIR PROTECTION. THROUGH THESE COLLABORATIONS, OREF HAS AND WILL CONTINUE TO SCIENTIFICALLY EXPLORE THE OCEANS AND SUPPORT THE DOCUMENTATION OF THOSE SCIENTIFIC EXPLORATIONS AND DISCOVERIES. REFER TO SCHEDULE O FOR PROGRAM SERVICE ACCOMPLISHMENTS.

Program 2

Expenses: $9,253,540 Revenue: $2,893,261

ENGAGE IN AND SUPPORT SCIENTIFIC EDUCATIONAL AND AWARENESS RAISING EFFORTS ON BEHALF OF OCEAN SCIENCE, PROTECTION, EXPLORATION AND STEWARDSHIP. ENGAGING AND EDUCATING AUDIENCES GLOBALLY BY CREATING EDUCATIONAL PROGRAMMING AND CAPTIVATING MEDIA IN MULTIPLE FORMATS AND ACROSS MULTIPLE CHANNELS ABOUT THE IMPORTANCE OF THE OCEANS AND THEIR PROTECTION, FOR THE BENEFIT OF PEOPLE GLOBALLY INCLUDING COMMUNITIES THAT DEPEND ON THE OCEAN FOR THEIR SUSTAINABILITY.REFER TO SCHEDULE O FOR PROGRAM SERVICE ACCOMPLISHMENTS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $27,432,225

Program Service Revenue $4,202,475

Investment Income $1,661,406

Other Revenue $179,732

TOTAL REVENUE $33,475,838

Expense Breakdown

Grants Paid $2,592,290

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $43,259,907

Other Expenses $41,738,354

TOTAL EXPENSES $44,330,644

Year-over-Year Comparison

	2024	2023	Change
Revenue	$33,475,838	$31,057,090	+0.1%
Expenses	$44,330,644	$38,267,548	+0.2%
Net Income	$-10,854,806	$-7,210,458	+0.5%

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

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARK DALIO	DIRECTOR, SECRETARY & TREASURER	1.00	Officer Director	$0	$0	$0
MATTHEW DALIO	DIRECTOR	1.00	Director	$0	$0	$0
JANINE RACANELLI	DIRECTOR EX OFFICIO, PRESIDENT	1.00	Officer	$0	$0	$0
GRETCHEN WAGNER	ASSISTANT SECRETARY	1.00	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	$33,475,838	$44,330,644	$180,479,783	$-10,854,806
2023	$31,057,090	$38,267,548	$191,404,347	$-7,210,458
2022	$31,428,615	$35,625,551	$198,595,941	$-4,196,936
2021	$27,525,774	$30,574,112	$202,911,238	$-3,048,338
2020	$14,102,035	$20,218,484	$205,858,853	$-6,116,449
2019	$211,468,949	$2,350,013	$211,914,916	$209,118,936
2018	$410,699	$342,580	$68,119	$68,119

OCEANOGRAPHIC RESEARCH & EXPLORATION FOUNDATION