Civic Intelligence

Texas State Aquarium Association

990 • Fiscal year 2015 • EIN 23-7044950

Jan 01, 2015 to Dec 31, 2015 • Filed on Dec 20, 2016

2710 North Shoreline BlvdCorpus Christi, TX 78402-1097

(361) 881-1200

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

33rd percentile

0.16x

Higher debt load relative to assets than 33% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Liabilities / Revenue

51st percentile

0.45x

Higher debt load relative to revenue than 51% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Net Margin

89th percentile

42%

Higher net margin than 89% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Top Officer Pay

53rd percentile

$346,660

Higher top officer pay than 53% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2015

Asset Growth

95th percentile

41%

Faster asset growth than 95% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Revenue Growth

23rd percentile

-5.2%

Faster revenue growth than 23% of similar nonprofits.

2015 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2014 to 2015

Assets

Up

$67,468,302

Up $19,502,493 (+41%) from 2014

Net Assets

Up

$56,755,375

Up $9,884,740 (+21%) from 2014

Liabilities

Up

$10,712,927

Up $9,617,753 (+878%) from 2014

Revenue

Down

$23,769,889

Down $1,291,888 (-5.2%) from 2014

Expenses

Up

$13,770,907

Up $1,980,597 (+17%) from 2014

Net Income

Down

$9,998,982

Down $3,272,485 (-25%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$100M$50M$0Assets 2010: $26,288,651Liabilities 2010: $2,531,270Net Assets 2010: $23,757,3812010Assets 2011: $26,035,526Liabilities 2011: $2,118,495Net Assets 2011: $23,917,0312011Assets 2012: $29,965,816Liabilities 2012: $1,905,689Net Assets 2012: $28,060,1272012Assets 2013: $35,982,793Liabilities 2013: $2,302,355Net Assets 2013: $33,680,4382013Assets 2014: $47,965,809Liabilities 2014: $1,095,174Net Assets 2014: $46,870,6352014Assets 2015: $67,468,302Liabilities 2015: $10,712,927Net Assets 2015: $56,755,3752015Assets 2016: $82,548,461Liabilities 2016: $25,464,574Net Assets 2016: $57,083,8872016Assets 2017: $88,776,785Liabilities 2017: $32,337,289Net Assets 2017: $56,439,4962017Assets 2018: $86,005,644Liabilities 2018: $30,720,361Net Assets 2018: $55,285,2832018Assets 2019: $85,537,924Liabilities 2019: $28,553,960Net Assets 2019: $56,983,9642019Assets 2020: $86,268,786Liabilities 2020: $27,376,271Net Assets 2020: $58,892,5152020Assets 2021: $93,087,200Liabilities 2021: $12,131,908Net Assets 2021: $80,955,2922021Assets 2022: $94,526,133Liabilities 2022: $8,036,554Net Assets 2022: $86,489,5792022Assets 2023: $92,879,435Liabilities 2023: $4,596,982Net Assets 2023: $88,282,4532023Assets 2024: $93,696,733Liabilities 2024: $4,754,765Net Assets 2024: $88,941,9682024

Highlighted filing

2015

Assets$67,468,302
Liabilities$10,712,927
Net Assets$56,755,375

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0-$10MExpenses 2010: $9,592,0932010Expenses 2011: $10,094,8392011Expenses 2012: $10,706,5292012Revenue 2013: $16,409,296Expenses 2013: $10,867,704Net Income 2013: $5,541,5922013Revenue 2014: $25,061,777Expenses 2014: $11,790,310Net Income 2014: $13,271,4672014Revenue 2015: $23,769,889Expenses 2015: $13,770,907Net Income 2015: $9,998,9822015Revenue 2016: $14,907,888Expenses 2016: $14,727,252Net Income 2016: $180,6362016Revenue 2017: $18,254,860Expenses 2017: $19,225,893Net Income 2017: -$971,0332017Revenue 2018: $19,133,024Expenses 2018: $19,744,836Net Income 2018: -$611,8122018Revenue 2019: $20,430,777Expenses 2019: $19,757,534Net Income 2019: $673,2432019Revenue 2020: $16,487,261Expenses 2020: $16,275,003Net Income 2020: $212,2582020Revenue 2021: $38,828,303Expenses 2021: $17,164,658Net Income 2021: $21,663,6452021Revenue 2022: $22,947,810Expenses 2022: $16,737,953Net Income 2022: $6,209,8572022Revenue 2023: $19,302,933Expenses 2023: $18,184,751Net Income 2023: $1,118,1822023Revenue 2024: $19,116,039Expenses 2024: $18,809,415Net Income 2024: $306,6242024

Highlighted filing

2015

Revenue$23,769,889
Expenses$13,770,907
Net Income$9,998,982
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Dec 20, 2016
Return Version
2015v2.1
Gross Receipts
$23,834,649
Mission and Program Overview

Mission

The texas state aquarium's mission is to connect people with nature and inspire conservation of the gulf of mexico. To accomplish this goal, the aquarium has developed more than 25 permanent and special exhibits to interpret the animals and sensitive ecosystems of the gulf, educating more than 550,000 visitors annually in the wonders of the marine world. The texas state aquarium promotes and actively engages in environmental conservation through a number of programs, including a wildlife rehabilitation program that ministers to the needs of hundreds of sick and injured shorebirds, raptors, sea turtles and marine mammals each year.

The texas state aquarium's mission is engaging people with animals, inspiring appreciation for our seas, and supporting wildlife conservation. It's vision is to be a global leader in fostering support for the conservation of the gulf of mexico and caribbean sea. To accomplish this goal, the aquarium has developed more than 25 permanent and special exhibits to interpret the animals and sensitive ecosystems of the gulf, educating more than 550,000 visitors annually in the wonders of the marine world. The texas state aquarium promotes and actively engages in environmental conservation through a number of programs, including a wildlife rehabilitation program that ministers to the needs of hundreds of sick and injured shorebirds, raptors, sea turtles and marine mammals each year.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,994,171$31,099,053▲ $14,104,882
Cash and Non-Interest-Bearing Accounts$8,954,538$13,614,542▲ $4,660,004
Other Notes and Loans Receivable, Net$8,002,350$7,323,895▼ $678,455
Savings and Temporary Cash Investments$6,459,155$6,908,777▲ $449,622
Pledges and Grants Receivable$4,835,049$5,539,122▲ $704,073
Investments in Publicly Traded Securities$2,137,281$2,557,320▲ $420,039
Prepaid Expenses and Deferred Charges$336,752$203,098▼ $133,654
Accounts Receivable$225,327$186,539▼ $38,788
Inventories for Sale or Use$21,186$35,956▲ $14,770
Total Assets$47,965,809$67,468,302▲ $19,502,493
Liabilities
Mortgage Notes Payable Secured by Investment Property$324,130$10,224,130▲ $9,900,000
Accounts Payable and Accrued Expenses$699,497$457,981▼ $241,516
Deferred Revenue$71,547$30,816▼ $40,731
Total Liabilities$1,095,174$10,712,927▲ $9,617,753
Net Assets / Fund Balance
Unrestricted Net Assets$19,588,530$34,950,104▲ $15,361,574
Temporarily Rstr Net Assets$25,715,655$20,238,821▼ $5,476,834
Permanently Rstr Net Assets$1,566,450$1,566,450→ $0
Total Net Assets Fund Balance$46,870,635$56,755,375▲ $9,884,740
Total Liabilities and Net Assets / Fund Balance$47,965,809$67,468,302▲ $19,502,493

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$7,044,768$32,528,324$39,573,092
Leasehold Improvements$19,476,130$5,183,212$24,659,342
Equipment$1,209,914$2,241,356$3,451,270
Land$3,368,241-$3,368,241

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$2,904,805$42,921▼ $86,980$1,012$2,859,734
2014$2,719,851$20,272▲ $165,556$874$2,904,805
2013$2,290,656$71,291▲ $358,544$640$2,719,851
2012$1,965,742$74,724▲ $250,240$50$2,290,656
2011$1,919,371$65,676▼ $19,255$50$1,965,742
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas SchmidPresident/ceFT$331,206$15,454$346,660
Thomas SchmidPresident/CEO-$295,466$51,194$346,660
Paul Kettering IiiVP DevelopmeFT$180,129$9,189$189,318
Paul Kettering IiiVP Development-$174,129$15,189$189,318
Julio FloresVice PresideFT$179,754$8,619$188,373
Julio FloresVice President/CFO-$170,754$17,619$188,373
Jesse T GilbertChief of OpeFT$159,636$7,524$167,160
Jesse T GilbertChief of Operations-$149,636$17,524$167,160

Highest Paid Contractors

ContractorServicesLocationCompensation
Fulton ConstructionGeneral Contrac1102 2ND ST, 1102 2ND ST, Corpus Christi, TX 78404$802,098
Labatt Food ServiceProducts-food849 JAMES ST, 849 JAMES ST, Corpus Christi, TX 78408$267,279
American Sealants INCContractor-pool2483 RIVERSIDE PARKWAY, 210 S CARANCAHUA ST 4, Grand Junction, CO 81505$230,000
Borden InsuranceInsurance Broke210 S CARANCAHUA ST 4, PO BOX 96030, Corpus Christi, TX 78401$153,478
Lamar CompaniesAdvertisingPO BOX 96030, Baton Rouge, LA 70896$132,380
Revenue and Support

Revenue Composition

Contributions and Grants
$13,388,952
Program Service Revenue
$6,324,965
Investment Income
$130,463
Other Revenue
$3,925,509
All Other Contributions
$13,388,952
Change in Net Assets
$9,998,982

Audited Revenue Reconciliation

Revenue per Audited Statements
$23,830,070
Revenue Not Reported on Financial Statements
$-60,181
Revenue Not Reported on Form 990
$-174,423
Other Revenue Adjustments
$-60,181
Total Revenue per Audited Statements
$23,655,647
Total Revenue per Form 990
$23,769,889
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$7,808,896
Salaries, Compensation, and Employee Benefits$5,962,011
Total Fundraising Expense$1,707,325
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,581,496$610,151$293,204$4,484,851
Depreciation Depletion$2,234,115--$2,234,115
All Other Expenses$586,335$151,633$300,059$1,038,027
Occupancy$797,335$15,154$3,497$815,986
Royalties$160,422$4,598$480,741$645,761
Advertising$512,712-$45,751$558,463
Current Officers, Directors, Trustees, and Key Employees-$378,478$132,483$510,961
Other Employee Benefits$320,779$88,547$38,127$447,453
Office Expenses$399,099$17,106$27,679$443,884
Payroll Taxes$259,173$71,542$30,805$361,520
Fees for Services Management$68,405$87,178$184,774$340,357
Other Expenses$264,224$31,436$773$264,224
Pension Plan Contributions$112,715$31,114$13,397$157,226
Travel$101,973$21,534$11,213$134,720
Fees for Services Legal$-3,700$40$122,693$119,033
Insurance-$78,125-$78,125
Fees for Services Accounting-$12,650-$12,650
Total Functional Expenses$10,423,964$1,639,618$1,707,325$13,770,907

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,770,907
Total Expenses per Audited Statements$13,770,907
Total Expenses per Form 990$13,770,907
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$25,000
Fundraising Direct Expenses$4,579
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Beach Ball$25,000$25,000$4,579$20,421
Total Events$25,000$25,000$4,579$20,421
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board MemberPURCH'D INS.POLICIESNo$136,810
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
Yes
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

The executive committee consists of the chair, chair-elect, vice chairs, secretary, treasurer, and the immediate past-chair, three elected members at large, up to four members appointed by the chair, and the president & ceo as an ex-officio member. The members at-large shall be eleceted by the board of trustees from nominees presented by the governance and nominating committee and serve a one year term. The executive committee shall be responsible to the board of trustees with full power to act in the operation of the association between meetings of the board of trustees. It shall report its actions and refer matters of policy to the board of trustees. Meeting of the executive committee shall be held at such times as may be determined by the chair. A majority of the members of the executive committee shall constitute a quorum. .

Form 990, Page 6, Part VI, Line 2

Gloria hicks charlie hicks trustee trustee mother and son

Form 990, Page 6, Part VI, Line 11B

Form 990 will be available to the board of trustees by e-mail submission, prior to filing.

Form 990, Page 6, Part VI, Line 15A

The executive committee of the board of trustees conducts a performance appraisal of the president/ceo at the end of the year. The texas state aquarium follows a policy whereby the board compensation committee reviews not only this benefit, but reviews and sets the ceo salary based on survey information and an employee evaluation. They have access to historical salary data and comparable salaries from the survey information.

Form 990, Page 6, Part VI, Line 19

Each year, the organization will have the federal irs tax form 990, annual independent audit report, governing documents and conflict of interest policy available for review upon request.

Filing and Contact Details

Filer

Filer Name
Texas State Aquarium Association
EIN
23-7044950
Phone
3618811200
Address
2710 NORTH SHORELINE BLVD, CORPUS CHRISTI, TX 78402-1097

Signing Officer

Name
Julio Flores
Title
Vice President/CFO
Phone
3618811280
Signed
2016-12-20
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julio Flores
Formed
1986
Legal Domicile
TX
Voting Board Members
59
Independent Board Members
59
Employees
275
Volunteers
108

Preparer

Firm
Lovvorn & Kieschnick Llp
Address
418 PEOPLES STE 308, CORPUS CHRISTI, TX 78401-2350
Preparer
Frank Lovvorn
Phone
3618848897
Supplemental Narrative

Additional Explanations

Form 990, Page 1, Item B

The return was amended due to more detailed information provided in the following areas: form 990 part i organization's mission statement form 990 part iii 4b program service description form 990 part vii section a. Compensation of officers and highest paid employees form 990 part vii section b. Independent contractors highest paid form 990 part xi reconciliation of net assets was corrected form 990 sch d part v endowment funds was corrected form 990 sch d reconciliation of revenue per audited financial statements with revenue per return was corrected with related sch o explanations form 990 sch j part i 1a - social club dues form 990 sch j part i 3 - indicated which methods used to establish the compensation for the ceo form 990 sch l transactions involving interested persons. Form 4562 correction

FORM 990 - ORGANIZATION'S MISSION

The texas state aquarium's mission is engaging people with animals, inspiring appreciation for our seas, and supporting wildlife conservation. It's vision is to be a global leader in fostering support for the conservation of the gulf of mexico and caribbean sea. To accomplish this goal, the aquarium has developed more than 25 permanent and special exhibits to interpret the animals and sensitive ecosystems of the gulf, educating more than 550,000 visitors annually in the wonders of the marine world. The texas state aquarium promotes and actively engages in environmental conservation through a number of programs, including a wildlife rehabilitation program that ministers to the needs of hundreds of sick and injured shorebirds, raptors, sea turtles and marine mammals each year.

Form 990, Page 2, Part III, Line 4A

Organize and carry out beach clean-up events in partnership with the texas general land office. In addition to coordinating these efforts, tsa staff conduct educational programs that highlight the effects garbage have on regional wildlife. Finally, our wildlife rehabilitation program "second chance wildlife rehabilitation program" ministers to the needs of hundreds of injured shore and water birds, marine turtles, and marine mammals each year. In the last two years, we have successfully treated and released 92 animals. And, since 2007, we have successfully treated 68 green sea turtles and a number of atlantic bottle nose dolphins. It is through these and many other programs that the texas state aquarium helps preserve our region's rich environmental heritage and empowers millions of visitors to take action to help preserve and protect our natural environment. And finally, as a private, not-for-profit institution, the aquarium has a tremendous economic impact (over 43 million each year) without the need for city, county or state funding subsidies. .

Form 990, Page 2, Part III, Line 4B

Present kings of the ocean; a life sized megalodon jaw and great white shark replica. The aquarium has also conducted professional development sessions for over 400 teachers.

Form 990, Part XI, Line 9

Cost of goods sold 60,181 total 60,181

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The nature of the endowment fund is that the corpus is to remain invested in perpetuity, and managed by the tsa investment committee, under the governance of the tsa executive committee. Based on the desire to increase the size of the endowment, every effort will be made to reinvest earned income until such time as the trustees feel the endowment has reached a certain minimum level. Capital appreciation, or gain in the fund will remain as part of the fund corpus.

Schedule D, Page 4, Part XI, Line 4B

Cost of goods sold -60,181

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IRS990/Desc0IT ALL BEGAN IN 1969 WITH THE DREAM OF WHAT CORPUS CHRISTI COULD BE. VISIONARY COMMUNITY LEADERS HAD A BOLD, YET SIMPLE PURPOSE WITH THE TEXAS STATE AQUARIUM-- CREATE EDUCATIONALLY ENRICHING AND ENTERTAINING EXHIBITS AND PROGRAMS TO CONNECT PEOPLE WITH NATURE, AND INSPIRE THEM TO CARE FOR, AND ULTIMATELY HELP CONSERVE THE GULF OF MEXICO. TODAY, AFTER BEING OPEN TO THE PUBLIC FOR MORE THAN 20 YEARS AND HAVING EDUCATED AND ENTERTAINED 10 MILLION VISITORS, THE TEXAS STATE AQUARIUM IS THE LEADING ATTRACTION IN SOUTH TEXAS, AN ECONOMIC DRIVER OF THE COASTAL BEND TOURISM ECONOMY, A REGIONAL ENVIRONMENTAL EDUCATION CENTER REACHING MORE THAN 60,000 STUDENTS EACH YEAR,AND AN AWARD-WINNING CENTER FOR WILDLIFE CARE AND REHABILITATION. BEYOND OUR EDUCATION PROGRAMS, THE AQUARIUM HAS WORKED DILIGENTLY TO ORGANIZE AND CARRY OUT BEACH CLEAN-UP EVENTS IN PARTNERSHIP WITH THE TEXAS GENERAL LAND OFFICE. IN ADDITION TO COORDINATING THESE EFFORTS, TSA STAFF CONDUCT EDUCATIONAL PROGRAMS THAT HIGHLIGHT THE EFFECTS GARBAGE HAVE ON REGIONAL WILDLIFE. FINALLY, OUR WILDLIFE REHABILITATION PROGRAM "SECOND CHANCE WILDLIFE REHABILITATION PROGRAM" MINISTERS TO THE NEEDS OF HUNDREDS OF INJURED SHORE AND WATER BIRDS, MARINE TURTLES, AND MARINE MAMMALS EACH YEAR. IN THE LAST TWO YEARS, WE HAVE SUCCESSFULLY TREATED AND RELEASED 92 ANIMALS. AND, SINCE 2007, WE HAVE SUCCESSFULLY TREATED 68 GREEN SEA TURTLES AND A NUMBER OF ATLANTIC BOTTLE NOSE DOLPHINS. IT IS THROUGH THESE AND MANY OTHER PROGRAMS THAT THE TEXAS STATE AQUARIUM HELPS PRESERVE OUR REGION'S RICH ENVIRONMENTAL HERITAGE AND EMPOWERS MILLIONS OF VISITORS TO TAKE ACTION TO HELP PRESERVE AND PROTECT OUR NATURAL ENVIRONMENT. AND FINALLY, AS A PRIVATE, NOT-FOR-PROFIT INSTITUTION, THE AQUARIUM HAS A TREMENDOUS ECONOMIC IMPACT (OVER 43 MILLION EACH YEAR) WITHOUT THE NEED FOR CITY, COUNTY OR STATE FUNDING SUBSIDIES. .
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$93.7$4.75$88.9$19.1$18.8$0.31
2023Detailed filing. Detailed filing data is available for this year.$92.9$4.60$88.3$19.3$18.2$1.12
2022Detailed filing. Detailed filing data is available for this year.$94.5$8.04$86.5$22.9$16.7$6.21
2021Detailed filing. Detailed filing data is available for this year.$93.1$12.1$81.0$38.8$17.2$21.7
2020Detailed filing. Detailed filing data is available for this year.$86.3$27.4$58.9$16.5$16.3$0.21
2019Detailed filing. Detailed filing data is available for this year.$85.5$28.6$57.0$20.4$19.8$0.67
2018Detailed filing. Detailed filing data is available for this year.$86.0$30.7$55.3$19.1$19.7$0.61
2017Detailed filing. Detailed filing data is available for this year.$88.8$32.3$56.4$18.3$19.2$0.97
2016Detailed filing. Detailed filing data is available for this year.$82.5$25.5$57.1$14.9$14.7$0.18
2015Detailed filing. Detailed filing data is available for this year.$67.5$10.7$56.8$23.8$13.8$10.00
2014Detailed filing. Detailed filing data is available for this year.$48.0$1.10$46.9$25.1$11.8$13.3
2013Detailed filing. Detailed filing data is available for this year.$36.0$2.30$33.7$16.4$10.9$5.54
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$30.0$1.91$28.1$10.7
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.0$2.12$23.9$10.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$26.3$2.53$23.8$9.59