OCEANOGRAPHIC RESEARCH & EXPLORATION FOUNDATION

EIN: 830757695 Science & Technology

WESTPORT, CT

Total Revenue
$33,475,838
Total Expenses
$44,330,644
Total Assets
$180,479,783
Net Assets
$180,417,556
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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
DE
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.

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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 (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

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Governance

Voting Members
2
Independent Members
2
Employees
N/A
Volunteers
4

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
3
$0
Total Directors
2
$0
Key Employees
0
$0
Highest Compensated
0
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
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