Civic Intelligence

Texas State Aquarium Association

990 • Fiscal year 2017 • EIN 23-7044950

Jan 01, 2017 to Dec 31, 2017 • Filed on Nov 13, 2018

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

57th percentile

0.36x

Higher debt load relative to assets than 57% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Liabilities / Revenue

82nd percentile

1.77x

Higher debt load relative to revenue than 82% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Net Margin

19th percentile

-5.3%

Higher net margin than 19% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Top Officer Pay

58th percentile

$391,137

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 2.1% of source-year revenue.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2017

Asset Growth

57th percentile

7.5%

Faster asset growth than 57% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Revenue Growth

79th percentile

22%

Faster revenue growth than 79% of similar nonprofits.

2017 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2016 to 2017

Assets

Up

$88,776,785

Up $6,228,324 (+7.5%) from 2016

Net Assets

Down

$56,439,496

Down $644,391 (-1.1%) from 2016

Liabilities

Up

$32,337,289

Up $6,872,715 (+27%) from 2016

Revenue

Up

$18,254,860

Up $3,346,972 (+22%) from 2016

Expenses

Up

$19,225,893

Up $4,498,641 (+31%) from 2016

Net Income

Down

-$971,033

Down $1,151,669 (-638%) from 2016

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

2017

Assets$88,776,785
Liabilities$32,337,289
Net Assets$56,439,496

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

2017

Revenue$18,254,860
Expenses$19,225,893
Net Income-$971,033
Jump To
Filing Snapshot
Filing Period
Jan 1, 2017 to Dec 31, 2017
Signed
Nov 13, 2018
Return Version
2017v2.3
Gross Receipts
$18,411,251
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$61,738,821$70,530,860▲ $8,792,039
Other Notes and Loans Receivable, Net$7,323,895$7,359,929▲ $36,034
Pledges and Grants Receivable$4,812,165$3,518,038▼ $1,294,127
Investments in Publicly Traded Securities$2,884,052$3,386,582▲ $502,530
Cash and Non-Interest-Bearing Accounts$3,660,916$2,427,854▼ $1,233,062
Savings and Temporary Cash Investments$1,708,159$1,423,933▼ $284,226
Accounts Receivable$246,066--
Prepaid Expenses and Deferred Charges$146,495$99,422▼ $47,073
Inventories for Sale or Use$27,892$30,167▲ $2,275
Total Assets$82,548,461$88,776,785▲ $6,228,324
Liabilities
Mortgage Notes Payable Secured by Investment Property$20,539,730$31,187,498▲ $10,647,768
Accounts Payable and Accrued Expenses$4,889,132$838,010▼ $4,051,122
Deferred Revenue$35,712$311,781▲ $276,069
Total Liabilities$25,464,574$32,337,289▲ $6,872,715
Net Assets / Fund Balance
Unrestricted Net Assets$49,752,969$49,392,696▼ $360,273
Temporarily Rstr Net Assets$5,764,468$5,480,350▼ $284,118
Permanently Rstr Net Assets$1,566,450$1,566,450→ $0
Total Net Assets Fund Balance$57,083,887$56,439,496▼ $644,391
Total Liabilities and Net Assets / Fund Balance$82,548,461$88,776,785▲ $6,228,324

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$63,497,175$35,449,120$98,946,295
Leasehold Improvements$1,006,771$7,600,273$8,607,044
Equipment$2,470,174$2,379,351$4,849,525
Land$3,556,740-$3,556,740

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$3,125,730-▲ $466,449$1,150$3,591,029
2016$2,859,734$20,348▲ $246,588$940$3,125,730
2015$2,904,805$42,921▼ $86,980$1,012$2,859,734
2014$2,719,851$20,272▲ $20,272$874$2,904,805
2013$2,290,656$71,291▲ $71,291$640$2,719,851
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Thomas SchmidPresident/ceFT$360,734$30,403$391,137
Thomas SchmidPresident/CEO-$305,734$85,403$391,137
Jesse T GilbertSenior VP/coFT$206,224$13,716$219,940
Jesse T GilbertSenior VP/COO-$186,224$33,716$219,940
Julio FloresSenior VP/cfFT$194,317$14,391$208,708
Julio FloresSenior VP/CFO-$179,317$29,391$208,708
Courtney MclainVP DevelopmeFT$118,248$11,160$129,408
Nicole AndradeDirector ofFT$122,268$6,497$128,765
Carter BurnsDirector ofFT$102,300$9,644$111,944

Highest Paid Contractors

ContractorServicesLocationCompensation
Fulton ConstructionGeneral Contrac1102 2ND ST, Corpus Christi, TX 78404$15,083,861
The Atkins GroupMedia Mgmt501 SOLEDAD ST, San Antonio, TX 78205$414,800
Barkley ReiMedia MgmtPO BOX 876270, Kansas City, MO 64187$179,832
Thyssenkrupp Elevator CorpElevator RepairPO BOX 933004, Atlanta, GA 31193$138,938
Valley Garden Center INCLandscaping801 E BUSINESS 83, Mcallen, TX 78501$137,126
Revenue and Support

Revenue Composition

Contributions and Grants
$2,710,937
Program Service Revenue
$11,083,383
Investment Income
$335,829
Other Revenue
$4,124,711
All Other Contributions
$2,710,937
Change in Net Assets
$-971,033

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Boats and Planes1$54,810Nada Price Guide
Securities Publicly Traded2$18,512Market Value When Receive
Works of Art2$12,050Donor Estimates
Other Non Cash Contri Table1$7,000Comparable Sales
Food Inventory3$5,645Retail Price
Other Non Cash Contri Table35$5,121Face Value
Other Non Cash Contri Table1$3,000Retail Price
Other Non Cash Contri Table72$2,320Retail Price
Total Noncash Contributions117$108,458-

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,254,860
Revenue Not Reported on Form 990
$665,928
Total Revenue per Audited Statements
$18,920,788
Total Revenue per Form 990
$18,254,860
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,091,616
Salaries, Compensation, and Employee Benefits$7,986,130
Total Fundraising Expense$850,275
Grants and Similar Amounts Paid$148,147
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$4,884,984$889,703$145,472$5,920,159
Depreciation Depletion$3,548,787--$3,548,787
Occupancy$1,725,055$32,786$7,566$1,765,407
All Other Expenses$1,009,155$248,726$235,878$1,493,759
Advertising$871,356-$5,081$876,437
Current Officers, Directors, Trustees, and Key Employees$264,519$316,389$180,367$761,275
Other Employee Benefits$466,800$109,332$29,537$605,669
Other Expenses$544,208$84,950$100$544,208
Payroll Taxes$384,778$90,121$24,347$499,246
Office Expenses$383,313$45,785$56,239$485,337
Pension Plan Contributions$153,975$36,063$9,743$199,781
Fees for Services Management$37,798$103,637$5,117$146,552
Travel$94,844$9,150$960$104,954
Grants to Domestic Orgs$76,427--$76,427
Grants to Domestic Individuals$71,720--$71,720
Insurance-$49,713-$49,713
Fees for Services Accounting-$24,078-$24,078
Fees for Services Legal-$980-$980
Total Functional Expenses$16,234,640$2,140,978$850,275$19,225,893

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$19,565,179
Expenses per Audited Statements$19,225,893
Total Expenses per Form 990$19,225,893
Expenses Not Reported on Form 990$339,286
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Assoc of Zoos and AquariumsSilver Spring, MD501c3Animal Conservation$57,500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$31,163
Fundraising Direct Expenses$5,968
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Rising Tide Soc$31,163$31,163$5,968$25,195
Total Events$31,163$31,163$5,968$25,195
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
Yes
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Board MemberPURCH'D INS POLICIESNo$102,564
-Board MemberPURCH'D VEHICLENo$31,494
-Board MemberContractorNo$8,000
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
Yes
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 elected 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 constitue 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
Senior VP/CFO
Phone
3618811200
Signed
2018-11-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Julio Flores
Formed
1986
Legal Domicile
TX
Voting Board Members
58
Independent Board Members
58
Employees
391
Volunteers
445

Preparer

Firm
Gowland Strealy Morales & Company Pllc
Address
5934 SOUTH STAPLES SUITE 201, CORPUS CHRISTI, TX 78413
Preparer
David J Morales
Phone
3619931000
Supplemental Narrative

Additional Explanations

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

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 has on regional wildlife. Finally, our wildlife rehabilitation program "second chances wildlife rehabilitation program" ministers to the needs of hundreds of injured shore and water birds, marine turtles, and marine mammals each year. In 2017 alone, we admitted 522 animals including 66 shorebirds, 283 raptors, and 173 sea turtles. 206 of these animals were treated and released into the wild, including 137 sea turtles. It is through these and many more 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 63 million in 2017) without the need for city, county, or state funding subsidies for operations.

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

Center for excellence in stem education allow us to reach local students as well as conduct virtual programs with students worldwide. The aquarium also continues to conduct professional development sessions for hundreds of teachers each year.

Form 990, Part XI, Line 9

Expenses reclassed to revenue 156,391 expenses reclassed against revenue -156,391

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 2D

Expenses reclassed to revenue 156,391

Schedule D, Page 4, Part XII, Line 2D

Expenses reclassed against revenue 156,391

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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 THE 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 25 YEARS AND HAVING EDUCATED AND ENTERTAINED 13 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 70,000 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 HAS ON REGIONAL WILDLIFE. FINALLY, OUR WILDLIFE REHABILITATION PROGRAM "SECOND CHANCES WILDLIFE REHABILITATION PROGRAM" MINISTERS TO THE NEEDS OF HUNDREDS OF INJURED SHORE AND WATER BIRDS, MARINE TURTLES, AND MARINE MAMMALS EACH YEAR. IN 2017 ALONE, WE ADMITTED 522 ANIMALS INCLUDING 66 SHOREBIRDS, 283 RAPTORS, AND 173 SEA TURTLES. 206 OF THESE ANIMALS WERE TREATED AND RELEASED INTO THE WILD, INCLUDING 137 SEA TURTLES. IT IS THROUGH THESE AND MANY MORE 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 63 MILLION IN 2017) WITHOUT THE NEED FOR CITY, COUNTY, OR STATE FUNDING SUBSIDIES FOR OPERATIONS.
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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