2025-07-22T00:32:14-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 350 CHURCH STREET 12TH FLOOR HARTFORD CT 06103 990 2024-01-01 061480300 SEA RESEARCH FOUNDATION INC SEAR 8605725955 55 COOGAN BLVD MYSTIC CT 06355 KORAY GURZ CFO 8605725955 2025-07-17 1 1 LORI ROTHE YOKOBOSKY P01273422 9592007000 2025-07-16 2024 2025-03-06 01:10:19Z KORAY GURZ 55 COOGAN BLVD MYSTIC CT 06355 58582613 0 X WWW.MYSTICAQUARIUM.ORG X 1977 CT TO INSPIRE PEOPLE TO CARE FOR AND PROTECT OUR OCEAN PLANET THROUGH EDUCATION AND RESEARCH 25 24 370 746 0 0 8781096 5563889 23607874 24672902 141178 1602933 26318 -20097 32556466 31819627 133454 85576 0 0 15968314 17336168 120000 120000 2905324 13376297 14500913 29598065 32042657 2958401 -223030 59553462 58464309 12546235 11529580 47007227 46934729 TO INSPIRE PEOPLE TO CARE FOR AND PROTECT OUR OCEAN PLANET THROUGH EDUCATION AND RESEARCH. 0 0 16941163 18660822 THE ORGANIZATION OPERATES AN AQUARIUM WHICH IS OPEN TO THE GENERAL PUBLIC, PROGRAMS INCLUDE ANIMAL HUSBANDRY AND REHABILITATION FOR MARINE MAMMALS, PENGUINS, FISHES AND AQUATIC INVERTEBRATES. DURING 2024 THERE WERE APPROXIMATELY 800,000 VISITORS THAT CAME TO THE AQUARIUM. 5793998 14954 1603447 THE ORGANIZATION ALSO SUPPORTS EDUCATION AND RESEARCH PROGRAMS AT THE AQUARIUM, AND THROUGH TRAVELING TEACHERS' PROGRAMS TO STUDENTS AND THEIR SCHOOLS. DURING THE CALENDAR YEAR 2024 APPROXIMATELY 114,000 STUDENTS BENEFITED FROM THE EDUCATION AND RESEARCH PROGRAMS. 2818546 70622 4457351 OTHER VISITOR SERVICES PROVIDED BY THE ORGANIZATION PROMOTING EDUCATION, RESEARCH, AND LEARNING ABOUT OUR OCEAN PLANET. 25553707 1 1 0 1 0 0 0 1 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 47 0 1 370 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 25 24 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT FL RI X X KORAY GURZ 8605725955 55 COOGAN BLVD MYSTIC CT 06355 ALEX MARKU BOARD MEMBER 1.00 X 0 0 0 ANTONIO ROBERTO BOARD MEMBER 1.00 X 0 0 0 CECILIE JEDLICKA BOARD MEMBER 1.00 X 0 0 0 DAVID FREEMAN BOARD MEMBER 1.00 X 0 0 0 DR GEORGE M MILNE JR CHAIRMAN 5.00 X X 0 0 0 DR SARAH KELLY BOARD MEMBER 1.00 X 0 0 0 ED CASSIDY BOARD MEMBER 1.00 X 0 0 0 JASON REESE BOARD MEMBER 1.00 X 0 0 0 JOHN HOLSTEIN TREASURER 1.00 X X 0 0 0 JOLI GROSS SECRETARY 1.00 X X 0 0 0 MICHAEL LECH BOARD MEMBER 1.00 X 0 0 0 MICHAEL RAUH BOARD MEMBER (UNTIL 07/2024) 1.00 X 0 0 0 PATRICK GREEN BOARD MEMBER 1.00 X 0 0 0 PAUL ROBERTSON BOARD MEMBER 1.00 X 0 0 0 PETER G DRAKOS BOARD MEMBER 1.00 X 0 0 0 PETER KUHN BOARD MEMBER 1.00 X 0 0 0 RICHARD KATZ BOARD MEMBER 1.00 X 0 0 0 ROBERT VALENTI BOARD MEMBER 1.00 X 0 0 0 ROBERT WILLIAMS JR BOARD MEMBER 1.00 X 0 0 0 RODNEY BUTLER BOARD MEMBER 1.00 X 0 0 0 STEVE K PERRELLI VICE CHAIRMAN 1.00 X X 0 0 0 TAN HEE TECK BOARD MEMBER 1.00 X 0 0 0 THOMAS MARRA VICE CHAIRMAN 1.00 X X 0 0 0 TOM MOSEY VICE CHAIRMAN 1.00 X X 0 0 0 VERONICA DOWLING BOARD MEMBER 1.00 X 0 0 0 WILLIAM MIDDLETON BOARD MEMBER 1.00 X 0 0 0 KORAY GURZ COO/CFO 40.00 X 285274 0 48549 SUSETTE TIBUS PRESIDENT/ CEO 40.00 X 549016 0 5993 ALLISON TUTTLE SVP, ZOOLOGICAL OPERATIONS 40.00 X 242337 0 16135 ERIC ANDERSON DIR. OF ANIMAL CARE AND WELFARE 40.00 X 162486 0 33697 KATRINA S CUBINA SR VP MISSION PROGRAM (UNTIL 05/2024) 40.00 X 235350 0 34357 KEITH SORENSEN SR VP OF FACILITIES AND CAPITAL PROJECTS 40.00 X 166089 0 30327 TINA COUCH VP DEVELOPMENT 40.00 X 247501 0 5766 1888053 0 174824 22 0 1 0 CARLIN CONSTRUCTION COMPANY 5 SHAWS COVE SUITE 103 NEW LONDON CT 06320 CONSTRUCTION SERVICES 648215 SEACOR & CO LLC 547 BOSTON POST RD EAST LYME CT 06333 MARKETING SERVICES 403596 OMADA TECHNOLOGIES 36 MAPLEWOOD AVE PORTSMOUTH NH 03801 IT SERVICES 392601 POWER POSSE PRODUCTIONS LCC 21 AVERY ST MYSTIC CT 06355 MARKETING SERVICES 347096 ENVIRONMENTAL SYSTEMS CORP 18 JANSEN COURT WEST HARTFORD CT 06110 FACILITY SERVICES 291063 16 419141 2952249 2192499 249992 5563889 ADMISSIONS 713990 16495479 16495479 SPECIAL EXHIBITS AND OTHER REVENU 713990 4408633 4408633 MEMBERSHIPS 713990 2165343 2165343 PROGRAM INCOME 713990 1603447 1603447 24672902 653823 653823 27550731 26579586 22035 971145 -22035 949110 949110 92550 419141 161365 -68815 -68815 48718 48718 48718 31819627 24721620 0 1534118 70622 70622 14954 14954 888832 725680 104076 59076 13857994 11314253 1622674 921067 113651 92789 13308 7554 2428119 1982419 284316 161384 47572 38840 5570 3162 396675 396675 76874 76874 250000 250000 120000 120000 96351 96351 1693581 1226999 165393 301189 944489 2395 105 941989 1276683 1146282 70060 60341 89256 89256 1788018 1525677 192195 70146 231334 132356 73789 25189 232447 185958 34867 11622 2696419 2426777 269642 468189 393279 46819 28091 EDUCATION PROGRAM 2049375 2026222 5572 17581 ANIMAL COSTS 746302 746302 DUES AND SUBSCRIPTIONS 388448 192174 56481 139793 BRINE AND CHEMICALS 322383 322383 754089 648090 68859 37140 32042657 25553707 3583626 2905324 998178 452600 354162 630377 334314 278741 338259 446307 81068802 45820136 32445412 35248666 20579845 17533641 121828 239829 4381464 3634148 59553462 58464309 2527609 2212029 2027929 1567410 7767492 7404976 223205 345165 12546235 11529580 X 45623833 45638978 1383394 1295751 47007227 46934729 59553462 58464309 -223030 138636 11896 0 X 0 1 X 1 1 1 X 12600733 18620020 10053356 8781096 5563889 55619094 9120178 23466044 23162992 23605520 24672902 104027636 21720911 42086064 33216348 32386616 30236791 159646730 872336 950000 980198 539601 618500 3960635 0 872336 950000 980198 539601 618500 3960635 155686095 481 5062 61009 467891 653823 1188266 481 5062 61009 467891 653823 1188266 4756861 79529 55368 60653 48718 5001129 26478253 42170655 33332725 32915160 30939332 165836125 0.93880 0.92630 0.00720 0.00990 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER - 2020 AMOUNT: $ 32,871. 2021 AMOUNT: $ 79,529. 2022 AMOUNT: $ 55,368. 2023 AMOUNT: $ 60,653. 2024 AMOUNT: $ 48,718. CANCELLATION OF DEBT INCOME - 2020 AMOUNT: $ 4,723,990. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 250000 250000 0 PART II-B, LINE 1: DIRECT CONTACT WAS MADE WITH LEGISLATORS TO LOBBY FOR FUNDING TO SUPPORT THE ORGANIZATION'S EXEMPT FUNCTION. X X X 0 10573442 1294692 14954 11853180 8863862 1730586 21006 10573442 9809894 -931734 14298 8863862 71 9742400 67423 9809894 71 71 1.00000 0 0 679310 679310 58682137 34783118 23899019 3110027 2716096 393931 10423997 4134441 6289556 8173331 4186481 3986850 35248666 CONSTRUCTION IN PROGRESS 3540826 DEFERRED COMP ASSET 93322 3634148 DEFERRED COMP LIABILITY 93322 OPERATING LEASE LIABILITY 240482 FINANCING LEASE LIABILITY 11361 345165 X 31873808 138636 11896 150532 31723276 96351 96351 31819627 31946306 0 31946306 96351 96351 32042657 PART III, LINE 1A: THE FOUNDATION'S COLLECTION OF BELUGA WHALES, SEALS, FISH AND OTHER ANIMALS ARE NOT CAPITALIZED IN ITS FINANCIAL STATEMENTS AND ARE CHARGED TO EXPENSE AS INCURRED. PART III, LINE 4: THE FOUNDATION'S ANIMAL COLLECTION IS VIEWED BY APPROXIMATELY 700,000 VISITORS EACH YEAR. THE VISIT BY EACH INDIVIDUAL HELPS TO INSPIRE PEOPLE TO CARE FOR AND PROTECT OUR OCEAN PLANET. PART V, LINE 4: SUPPORT OF THE FOUNDATION'S ONGOING EDUCATION PROGRAMS AND ANIMAL CARE. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF INTERNAL REVENUE CODE SECTION 501(C)(3). HOWEVER, CERTAIN OPERATIONS OF THE FOUNDATION MAY QUALIFY AS UNRELATED BUSINESS TAXABLE INCOME AND TO THE EXTENT THAT THESE OPERATIONS GENERATE INCOME, THEY WILL BE SUBJECT TO FEDERAL AND STATE TAXES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE FOUNDATION AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2024 AND 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE ON THE FINANCIAL STATEMENTS. THE FOUNDATION HAS NO UNRECOGNIZED TAX BENEFITS AT DECEMBER 31, 2024 AND 2023. THE FOUNDATION'S FEDERAL AND STATE INFORMATION RETURNS PRIOR TO FISCAL YEAR 2021 ARE CLOSED, AND MANAGEMENT CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. IF THE FOUNDATION HAS UNRELATED BUSINESS INCOME TAXES, IT WOULD RECOGNIZE INTEREST AND PENALTIES ASSOCIATED WITH ANY TAX MATTERS AS PART OF THE INCOME TAX PROVISION, AND INCLUDE ACCRUED INTEREST AND PENALTIES WITH THE RELATED TAX LIABILITY IN THE STATEMENTS OF FINANCIAL POSITION. X X X X X 1 THE COMPASS GROUP 24 QUAY STREET ALEXANDRIA VA 22314 FUNDRAISING STRATEGY 0 0 120000 -120000 120000 -120000 CT ANNUAL GALA 325640 291890 33750 48106 39936 GOLF OUTING 186051 127251 58800 12475 35260 22541 3047 511691 419141 92550 12475 35260 70647 42983 161365 -68815 1 ASSOCIATION OF ZOOS AND AQUARIUMS 8403 COLESVILLE RD SILVER SPRINGS MD 20910 550526930 501(C)(3) 38122 0 GENERAL SUPPORT CHAMBER OF COMMERCE 914 HARTFORD TURNPIKE WATERFORD CT 06385 060475490 501(C)(3) 25000 0 GENERAL SUPPORT SOFIA SEE'S HOPE PO BOX 705 LEDYARD CT 06339 464552134 501(C)(3) 7500 0 GENERAL SUPPORT 3 SCHOLARSHIPS 14 14954 PART I, LINE 2: PRIOR TO RELEASE OF GRANT FUNDS NECESSARY DOCUMENTATION IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND/OR FINANCIAL STAFF. GRANTEES RECEIVING FUNDS ARE REQUESTED TO PROVIDE THE FOUNDATION WITH INFORMATION THAT THE FUNDS ARE USED FOR THE DESIGNATED PURPOSES IF APPLICABLE. SCHEDULE I, PART I, QUESTION 2 PRIOR TO RELEASE OF GRANT FUNDS NECESSARY DOCUMENTATION IS REVIEWED BY THE CHIEF EXECUTIVE OFFICER AND/OR FINANCIAL STAFF. GRANTEES RECEIVING FUNDS ARE REQUESTED TO PROVIDE THE FOUNDATION WITH INFORMATION THAT THE FUNDS ARE USED FOR THE DESIGNATED PURPOSES IF APPLICABLE. 1 X X X X 0 0 0 0 0 0 0 1 0 SUSETTE TIBUS PRESIDENT/ CEO 424016 0 125000 0 0 0 3269 0 2724 0 555009 0 0 0 KORAY GURZ COO/CFO 258774 0 26500 0 0 0 5750 0 42799 0 333823 0 0 0 KATRINA S CUBINA SR VP MISSION PROGRAM (UNTIL 05/2024 187421 0 47929 0 0 0 1650 0 32707 0 269707 0 0 0 ALLISON TUTTLE SVP, ZOOLOGICAL OPERATIONS 222311 0 20000 0 26 0 4500 0 11635 0 258472 0 0 0 TINA COUCH VP DEVELOPMENT 227501 0 20000 0 0 0 1875 0 3891 0 253267 0 0 0 KEITH SORENSEN SR VP OF FACILITIES AND CAPITAL PROJ 156061 0 10000 0 28 0 3225 0 27102 0 196416 0 0 0 ERIC ANDERSON DIR. OF ANIMAL CARE AND WELFARE 162459 0 0 0 27 0 1303 0 32394 0 196183 0 0 0 PART I, LINE 7 EXECUTIVE OFFICERS RECEIVED A BOARD APPROVED CALENDAR YEAR 2024 BONUS. JOHN HOLSTEIN BOARD TREASURER 107779 OWNER OF SPICER GAS 0 X 4 249992 FMV 0 1 0 PART I, COLUMN (B): THE AMOUNT IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED ITS BYLAWS TO UPDATE OFFICER TITLES, APPOINTMENTS AS WELL AS COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE ENTIRE BOARD INCLUDING THE AUDIT COMMITTEE REVIEWS A DRAFT OF FORM 990. IT IS SENT ELECTRONICALLY TO THEM FOR THEIR REVIEW. IF NO CHANGES ARE SUGGESTED BY BOARD MEMBERS WITHIN 5 BUSINESS DAYS THE FORM IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL CONFLICT OF INTEREST FORMS RETURNED BY BOARD MEMBERS ARE PROVIDED TO THE PRESIDENT. ANY FORMS WHERE A CONFLICT IS DISCLOSED ARE PRESENTED TO THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE THEN DETERMINES WHAT ACTION IS REQUIRED (IF ANY) TO RESOLVE THE CONFLICT AND VERIFIES THE TRANSACTION IS EXECUTED IN THE BEST INTEREST OF THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION COMMITTEE IS RESPONSIBLE FOR DETERMINING THE CHIEF EXECUTIVE OFFICER'S COMPENSATION. THE COMPENSATION COMMITTEE USES VARIOUS SOURCES OF INFORMATION INCLUDING OTHER 990'S, COMPENSATION STUDIES, COMPENSATION CONSULTANTS AND OTHER FACTORS THAT ARE UNIQUE TO THE FOUNDATION. IN ADDITION, THE COMPENSATION COMMITTEE APPROVES THE COMPENSATION AND BENEFITS FOR THE NEXT FOUR HIGHLY PAID EXECUTIVES (INCLUDING THE CHIEF FINANCIAL OFFICER) OF THE FOUNDATION BASED UPON THE RECOMMENDATIONS OF THE CHIEF EXECUTIVE OFFICER. FORM 990, PART VI, SECTION C, LINE 19 INFORMATION IS AVAILABLE AT THE FOUNDATION FOR THE PUBLIC TO REVIEW. THE FINANCIAL STATEMENTS ARE AVAILABLE TO REVIEW ON THE FOUNDATION'S WEBSITE.