Ocean Institute

“The Board of Directors of the Ocean Institute has appointed an Executive Committee to handle the day to day affairs of the organization. The Committee is comprised of seven (7) members of the Board of Directors. The Board of Directors has delegated this authority to the Executive Committee.”

“The Bylaws were revised on June 3, 2014. Significant revisions included (1) Addition of two programs to the program list, (2) Change in the Board member terms to 2 years with re-election to additional terms possible under certain conditions, (3) Quorum change to a majority of the Board, (4) Change in definition of Officer to include Chairman, Vice-Chariman, Secretary and Treasurer, and (5) Change in the types of Committees.”

“Prior to submission, the Ocean Institute provided each member of the Executive Committee with a copy of Form 990 and all related schedules. Executive Committee members were asked to review the filing and provide comments and potential corrections to the filing. The comments and potential corrections were used to provide the final review of the form for filing. This is in accordance with the establishment of the Executive Committee as detailed in the explanation to Line 1A of Section A, Part VI.”

“The Board of Directors and key employees are asked each year to update their Conflict of Interest information. This information is used to determine if conflicts exist and if such conflicts provide a problem for the organization in the provision of services. All conflicts are resolved prior to any board member or key employee being allowed to continue in service to the organization.”

“The Ocean Institute maintains a Whistleblower Protection Policy in accordance with all applicable Federal, State and local laws, rules and regulations. The policy is posted at the offices of the Ocean Institute in accordance with CAL/OSHA regulations.”

“The Ocean Institute maintains a Document Destruction and Retention Policy. The policy incorporates the reasons and risks of retention of various documents within the organization. The policy is reviewed on an annual basis.”

“The compensation of the CEO is established annually by the Board of Directors with input from all appropriate sources including salary surveys, budget review, etc. The compensation of all other executives is reviewed annually during the budget process. The budget, including all salaries, is reviewed and approved by the Board of Directors.”

“The Ocean Institute, upon request, provides all public documents including Form 990, governing documents and financial statements to any requesting party. In addition, such documents are available on the Ocean Institute website and on independent websites including Guidestar.”

“The Ocean Institute obtains volunteers from a number of sources including schools, referrals and their website. All volunteers are screened and trained for the duties they wll be assigned. Volunteers sign in and out thereby providing the proper documentation for accounting purposes. During 2014, 304 volunteers provided a total of 29,694 hours to the programs of the Ocean Institute.”

“The Ocean Institute conducts special events on an annual basis. These events are as follows The Jazz Event and the Richard Henry Dana Regatta. These events are conducted in accordance with all applicable laws and regulations. The events are not considered to be unrelated business income due to not being conducted regularly.”

“During 2014, the Ocean Institute was not required to file Form 8282 for any dispositions of tangible personal property.”

“During 2014, the Ocean Institute did not receive any contributions of intellectual property.”

“During 2014, the Ocean Institute did not receive any contributions of cars, boats, airplanes or other vehicles.”