Nonprofit · EIN 83-0488383
OCEAN EXPLORATION TRUST INC
Tax-exempt · NEW LONDON, CT 06320
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $19,281,365 | $16,494,077 | $2,787,288 | $12,107,576 | $2,320,693 | $9,786,883 |
| December 31, 2023 | 990 | $14,982,503 | $15,503,963 | -$521,460 | $10,744,251 | $3,744,656 | $6,999,595 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $16,678,700
- of which government grants
- $12,183,063
- Program service revenue
- $2,580,006
- Investment income
- $0
- Other revenue
- $22,659
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,956,797
- Other salaries and wages
- $961,802
- Salaries, compensation and benefits (total)
- $3,194,931
- Professional fundraising fees
- $0
- Legal fees
- $144,075
- Accounting fees
- $63,872
- Occupancy
- $119,758
- Travel
- $723,411
- Depreciation
- $2,050,899
- Program services (functional)
- $13,253,264
- Management and general (functional)
- $3,084,611
- Fundraising (functional)
- $156,202
Balance sheet and other
- Total assets, start of year
- $10,744,251
- Total assets, end of year
- $12,107,576
- Total liabilities, end of year
- $2,320,693
- Net assets, end of year
- $9,786,883
- Land, buildings and equipment
- $5,131,687
- Net assets without donor restrictions
- $9,741,368
- Net assets with donor restrictions
- $45,515
- Gross receipts
- $19,281,365
- Employees
- 19
- Volunteers
- 60
- Year formed
- 2007
- State of legal domicile
- CT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DR ROBERT BALLARD | PRESIDENT Trustee or director, Officer | 40 | $581,000 | $88,456 |
| ALLISON FUNDIS | COO/BOT SECRETARY Officer | 40 | $432,616 | $68,373 |
| DENISE H ARMSTRONG | CFO/TREASURER Officer | 40 | $237,517 | $36,657 |
| DANIEL WAGNER | CHIEF SCIENTIST Key employee | 40 | $156,470 | $22,480 |
| ROBERT WATERS | ROV PILOT/MANAGER Key employee | 40 | $153,835 | $13,637 |
| MATTHEW KOSKELA | DIRECTOR DATA SYSTEMS Key employee | 40 | $154,868 | $10,888 |
| RICHARD DARLING | CONTROLLER Highest-paid employee | 40 | $138,109 | $18,498 |
| JANICE MEAGHER | EXECUTIVE ASSISTANT Highest-paid employee | 40 | $135,278 | $6,724 |
| DEREK SOWERS | SCIENTIST Highest-paid employee | 40 | $124,741 | $16,077 |
| MEGAN COOK | EDUCATION DIRECTOR Highest-paid employee | 40 | $114,372 | $5,459 |
| ROBERT PATRICELLI | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| LARRY MAYER | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| ARTHUR HOUSE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JACQUELINE HOLLISTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN CULBERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| VICKI PHILLIPS | DIRECTOR Trustee or director | 1 | $0 |
| DR ENRIC SALA | DIRECTOR Trustee or director | 1 | $0 |
| KRISTIN RECHBERGER | DIRECTOR Trustee or director | 1 | $0 |
| BARBARA SMIT | DIRECTOR Trustee or director | 1 | $0 |
| NEIL SMIT | DIRECTOR Trustee or director | 1 | $0 |
| ELIZABETH LINDSAY | DIRECTOR Trustee or director | 1 | $0 |
| PHIL STEPHENSON | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 23 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DR ROBERT BALLARD | PRESIDENT Trustee or director, Officer | 40 | $579,716 | $62,369 |
| DENISE H ARMSTRONG | CFO/TREASURER Officer | 40 | $408,882 | $41,566 |
| ALLISON FUNDIS | COO/BOT SECRETARY Officer | 40 | $379,091 | $44,287 |
| DANIEL WAGNER | CHIEF SCIENTIST Key employee | 40 | $156,856 | $22,571 |
| ROBERT WATERS | ROV PILOT/MANAGER Key employee | 40 | $152,951 | $13,594 |
| MATTHEW KOSKELA | DIRECTOR DATA SYSTEMS Key employee | 40 | $153,624 | $6,835 |
| RICHARD DARLING | CONTROLLER Highest-paid employee | 40 | $133,672 | $18,317 |
| DEREK C SOWERS | MAPPING OPERATIONS MANAGER Highest-paid employee | 40 | $124,909 | $22,846 |
| JANICE MEAGHER | EXECUTIVE ASSISTANT Highest-paid employee | 40 | $121,311 | $6,811 |
| MEGAN D COOK | EDUCATION/OUTREACH DIRECTOR Highest-paid employee | 40 | $117,983 | $5,505 |
| ROBERT PATRICELLI | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| LARRY MAYER | VICE CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| ARTHUR HOUSE | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JACQUELINE HOLLISTER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PETER GIRGUIS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| JOHN CULBERSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
| VICKI PHILLIPS | DIRECTOR Trustee or director | 1 | $0 | $0 |
| DR ENRIC SALA | DIRECTOR Trustee or director | 1 | $0 | $0 |
| KRISTIN RECHBERGER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| BARBARA SMIT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| NEIL SMIT | DIRECTOR Trustee or director | 1 | $0 | $0 |
| ELIZABETH LINDSAY | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PHIL STEPHENSON | DIRECTOR Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 613 WILLIAMS ST, NEW LONDON, CT 06320-4130
- Principal officer (990 for 2024)
- DR ROBERT BALLARD, 613 WILLIAMS ST, NEW LONDON, CT 06320
- Signed the 990
- RICHARD DARLING, CONTROLLER
- Phone
- (860) 574-9079
- Return prepared by
- HINTONBURDICK PLLC
Mission
SEE SCHEDULE O
Program accomplishments
- SEE SCHEDULE OIN 2024, E/V NAUTILUS SUCCESSFULLY COMPLETED AN 8-MONTH FIELD SEASON CONSISTING OF 11 MULTI-DISCIPLINARY EXPEDITIONS THAT EXPLORED THE PACIFIC FOR A TOTAL OF 163 DAYS AT SEA. THE 2024 SEASON BEGAN WITH A SHAKE DOWN EXPEDITION IN HAWAII TO PREPARE FOR THE FIELD WORK AHEAD, FOLLOWED BY OTHERS CENTERED ON SUPPORTING MAINTENANCE OF THE OCEAN NETWORKS CANADA CABLED OBSERVATORY, SEAFLOOR MAPPING ACROSS THE NORTH AND CENTRAL PACIFIC, MULTI-VEHICLE EXPLORATIONS IN AMERICAN SAMOA, ROV EXPLORATIONS OF THE PALAU NATIONAL MARINE SANCTUARY, AND DEPLOYMENTS OF MULTIPLE ROBOTIC ASSETS TO STUDY THE PHYSICAL OCEANOGRAPHY AROUND THE PALAUAN ISLANDS. COLLECTIVELY, 2024 EXPEDITIONS MAPPED OVER 150,000 SQUARE KILOMETERS OF SEAFLOOR, COMPLETED 62 SUCCESSFUL ROV DIVES, 61 DEPLOYMENTS OF OTHER VEHICLES, AND ENGAGED MANY MILLIONS OF VIEWERS AROUND THE WORLD. EXPEDITIONS IN 2024 WERE FUNDED BY NOAA OCEAN EXPLORATION VIA THE OCEAN EXPLORATION COOPERATIVE INSTITUTE, OCEAN NETWORKS CANADA,NOAA UNCREWED SYSTEMS OPERATION CENTER, BUREAU OF OCEAN ENERGY MANAGEMENT, AND OFFICE OF NAVAL RESEARCH. THROUGHOUT THE PLANNING AND EXECUTION OF EXPEDITIONS, THE OCEAN EXPLORATION TRUST WORKED CLOSELY WITH GOVERNMENT AGENCIES AND THE SCIENTIFIC COMMUNITY TO ENSURE THAT EXPEDITION ACTIVITIES ADDRESS SCIENCE AND MANAGEMENT PRIORITIES. EXPEDITIONS TOOK ADVANTAGE OF E/V NAUTILUS TELEPRESENCE CAPABILITIES AND INCLUDED EXTENSIVE EDUCATION AND OUTREACH ACTIVITIES TO REACH AUDIENCES OF ALL AGES.Expenses $13,253,264 · revenue $2,602,665
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 83-0488383
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2008
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Environment (C05)
- Assets (IRS master file)
- $12,107,576
- Income (IRS master file)
- $19,281,365
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $19,281,365 | $16,494,077 | $12,107,576 | IRS |
| 990 | December 2023 | $14,982,503 | $15,503,963 | $10,744,251 | XML |
| 990 | December 2022 | $13,454,946 | $14,376,842 | $12,779,785 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 83-0488383).
Questions about OCEAN EXPLORATION TRUST INC
- What is the EIN of OCEAN EXPLORATION TRUST INC?
- The employer identification number (EIN) of OCEAN EXPLORATION TRUST INC is 83-0488383.
- Is OCEAN EXPLORATION TRUST INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2008.
- Are donations to OCEAN EXPLORATION TRUST INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does OCEAN EXPLORATION TRUST INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of OCEAN EXPLORATION TRUST INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did OCEAN EXPLORATION TRUST INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of OCEAN EXPLORATION TRUST INC?
- The 990 for the year ended December 31, 2024 names DR ROBERT BALLARD.
- Who are the officers and directors of OCEAN EXPLORATION TRUST INC?
- The 990 for the year ended December 31, 2024 lists 22 people; 10 received compensation from the organization, the highest $581,000 (DR ROBERT BALLARD, PRESIDENT).
- How much revenue does OCEAN EXPLORATION TRUST INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $19,281,365, expenses of $16,494,077 and total assets of $12,107,576 at year end.
Other nonprofits in NEW LONDON
- ALEWIFE COVE CONSERVANCY EIN 82-0834289 · last filed 990-N for 2025
- SAVE OCEAN BEACH INC EIN 06-1559090 · last filed 990-EZ for 2025
- 4 CONSERVATION CHARITABLE FOUNDATION EIN 99-3849804 · last filed 990-N for 2024
- NEW LONDON TREES INC EIN 85-0848311 · last filed 990-N for 2025
- LAWRENCE AND MEMORIAL HOSPITAL INC EIN 06-0646704 · last filed 990 for 2025
- CONNECTICUT COLLEGE EIN 06-0646587 · last filed 990 for 2025
- LMW HEALTHCARE INC EIN 46-0543230 · last filed 990 for 2025
- WHOLE LIFE INC EIN 06-1204033 · last filed 990 for 2025