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Nonprofit · EIN 84-5079866

PALACIOS MARINE AGRICULTURAL RESEARCH INC

Tax-exempt · CORP CHRISTI, TX 78401

Financials

$2.6M$2.8M2022$3.2M$2.9M2023$4.5M$6.5M2024
Revenue Expenses · by fiscal year end
Financials of PALACIOS MARINE AGRICULTURAL RESEARCH INC by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
August 31, 2025990$4,540,495$6,463,633-$1,923,138$2,381,351$105,018$2,276,333
August 31, 2024990$3,215,290$2,914,311$300,979$4,338,603$138,718$4,199,885
August 31, 2023990$2,640,699$2,834,423-$193,724$4,161,718$225,555$3,936,163
Financial details: 990 for the year ended August 31, 2025

Revenue

Contributions, gifts and grants
$4,000,000
Program service revenue
$472,816
Investment income
$29,528
Net rental income
$38,151
Net gain from sales of assets
$8,353
Other revenue
$38,151

Expenses

Grants and similar amounts paid
$200,830
Compensation of officers, directors and key employees
$364,914
Other salaries and wages
$761,639
Salaries, compensation and benefits (total)
$1,269,725
Professional fundraising fees
$0
Legal fees
$1,396
Accounting fees
$79,959
Occupancy
$129,924
Travel
$63,985
Program services (functional)
$6,205,589
Management and general (functional)
$258,044

Balance sheet and other

Total assets, start of year
$4,338,603
Total assets, end of year
$2,381,351
Total liabilities, end of year
$105,018
Net assets, end of year
$2,276,333
Land, buildings and equipment
$1,277,850
Publicly traded securities
$499,916
Net assets without donor restrictions
$2,276,333
Gross receipts
$6,377,367
Employees
12
Volunteers
0
Year formed
2020
State of legal domicile
TX

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 August 31, 2025, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
JAMES MEYNCHIEF EXECUTIVE OFFICER
Trustee or director
40$200,769$7,091
LARRY MCKINNEYDIRECTOR
Trustee or director
20$164,144$0
ROBERT HEINMANAGER
Highest-paid employee
40$105,506$0
CLARK C FLATOBOARD CHAIRMAN
Trustee or director, Officer
8$0$0
STEPHEN W ALTHEIDETREASURER
Trustee or director, Officer
5$0$0
DAVID HOYERVICE CHAIRMAN
Trustee or director, Officer
2$0$0
JOHN J JOHNSONSECRETARY
Trustee or director, Officer
2$0$0
DAVID F SUTTERDIRECTOR
Trustee or director
2$0$0
JOSE SEVILLAADVISORY DIRECTOR
Trustee or director
2$0$0
KENNETH W TRAWICKDIRECTOR
Trustee or director
2$0$0
PAUL HEATHADVISORY DIRECTOR
Trustee or director
2$0$0
990 for the year ended August 31, 2024: 11 people
NameTitleHours / weekCompensation
JOE FOXFORMER EXECUTIVE DIRECTOR
Former
40$222,078
GAIL SUTTONDIRECTOR OF OPERAT.
Highest-paid employee
40$144,220
LARRY MCKINNEYDIRECTOR
Trustee or director
20$138,030
JAMES MEYNCHIEF EXECUTIVE OFFICER
Trustee or director
40$116,154
CLARK C FLATOBOARD CHAIRMAN
Trustee or director, Officer
8$0
STEPHEN W ALTHEIDETREASURER
Trustee or director, Officer
5$0
DAVID HOYERVICE CHAIRMAN
Trustee or director, Officer
2$0
JOHN J JOHNSONSECRETARY
Trustee or director, Officer
2$0
DAVID F SUTTERDIRECTOR
Trustee or director
2$0
JOSE SEVILLAADVISORY DIRECTOR
Trustee or director
2$0
KENNETH W TRAWICKDIRECTOR
Trustee or director
2$0
990 for the year ended August 31, 2023: 10 people
NameTitleHours / weekCompensationOther / benefits
JOE FOXEXECUTIVE DIRECTOR
Trustee or director
40$213,923$927
GAIL SUTTONDIRECTOR OF OPERAT.
Highest-paid employee
40$139,068$1,051
LARRY MCKINNEYDIRECTOR
Trustee or director
20$112,506$0
CLARK C FLATOBOARD CHAIRMAN
Trustee or director, Officer
8$0$0
STEPHEN W ALTHEIDETREASURER
Trustee or director, Officer
5$0$0
DAVID HOYERVICE CHAIRMAN
Trustee or director, Officer
2$0$0
JOHN J JOHNSONSECRETARY
Trustee or director, Officer
2$0$0
DAVID F SUTTERDIRECTOR
Trustee or director
2$0$0
JOSE SEVILLAADVISORY DIRECTOR
Trustee or director
2$0$0
KENNETH W TRAWICKDIRECTOR
Trustee or director
2$0$0

Address and contacts

Address (IRS master file)
555 N CARANCAHUA ST STE 700, CORP CHRISTI, TX 78401-0861
Principal officer (990 for 2024)
CLARK C FLATO, 555 N CARANCAHUA ST 700, CORPUS CHRISTI, TX 78401
Signed the 990
CLARK C FLATO, BOARD CHAIRMAN
Phone
(361) 881-9040
Return prepared by
COLLIER JOHNSON & WOODS PC

Mission

SEE SCHEDULE O

990 for the year ended August 31, 2025

Program accomplishments

  • SEE SCHEDULE O
    Expenses $6,205,589 · grants $200,830

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 August, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025August 31, 2026January 15, 2027Not due yet
2024August 31, 2025January 15, 2026990 on file
2023August 31, 2024January 15, 2025990 on file

IRS record

EIN
84-5079866
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2021
Accounting year ends
August
Files
Form 990 or 990-EZ
Assets (IRS master file)
$2,381,351
Income (IRS master file)
$6,377,367

Filing history

FormYear endedRevenueExpensesAssetsReturn
990August 2025$4,540,495$6,463,633$2,381,351XML
990August 2024$3,215,290$2,914,311$4,338,603XML
990August 2023$2,640,699$2,834,423$4,161,718XML
990August 2022–––IRS
990August 2021–––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 84-5079866).

Questions about PALACIOS MARINE AGRICULTURAL RESEARCH INC

What is the EIN of PALACIOS MARINE AGRICULTURAL RESEARCH INC?
The employer identification number (EIN) of PALACIOS MARINE AGRICULTURAL RESEARCH INC is 84-5079866.
Is PALACIOS MARINE AGRICULTURAL RESEARCH INC tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
Are donations to PALACIOS MARINE AGRICULTURAL RESEARCH INC tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does PALACIOS MARINE AGRICULTURAL RESEARCH 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 PALACIOS MARINE AGRICULTURAL RESEARCH INC due?
The return for tax year 2025 (the year ending August 31, 2026) is due January 15, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did PALACIOS MARINE AGRICULTURAL RESEARCH INC last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended August 2025.
Who is the principal officer of PALACIOS MARINE AGRICULTURAL RESEARCH INC?
The 990 for the year ended August 31, 2025 names CLARK C FLATO.
Who are the officers and directors of PALACIOS MARINE AGRICULTURAL RESEARCH INC?
The 990 for the year ended August 31, 2025 lists 11 people; 3 received compensation from the organization, the highest $200,769 (JAMES MEYN, CHIEF EXECUTIVE OFFICER).
How much revenue does PALACIOS MARINE AGRICULTURAL RESEARCH INC have?
On its 990 for the year ended August 31, 2025 it reported revenue of $4,540,495, expenses of $6,463,633 and total assets of $2,381,351 at year end.

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