Ocean Discovery Institute

“The treasurer pre-approves the tax returns and then the board of directors is e-mailed prepared tax returns one week before the board meeting. At the meeting a vote is taken to approve tax returns”

“New board members are required to sign a conflict of interest statement indicating that they have no conflicts of interest or potential conflicts of interest. An inquiry regarding any conflicts of interest is discussed annually at a board meeting to ensure compliance with the policy.”

“The board of directors conducts an annual review of the executive director and decides on his/her salary by comparing it with the salaries of other executive directors in the area.”

“The 990 is available on guidestar.org and is also available on oceandiscovery.org.”

“Ocean discovery institute the institute is a california non-profit corporation organized in 1999. To inspire the next generation of science leaders, ocean discovey institute creates learning experiences for young people traditionally excluded from science due to race, income status, and educational opportunity. The education services are provided tuition free and primarily benefit lower income students in city heights, ca currently, approximately 7,000 young people participate in hands on science and conservation programs and the institue is growing to serve 10,000 students. The institute also engagees san diego teachers, stem professionals, and community members as volunteers.”

“Ocean discovery institute the institute is a california non-profit corporation organized in 1999. To inspire the next generation of science leaders, ocean discovey institute creates learning experiences for young people traditionally excluded from science due to race, income statues, and educational opportunity. The education services are provided tuition free and primarily benefit lower income students in city heights, ca currently, approximately 7,000 young people participate in hands on science and conservation programs and the institue is growing to serve 10,000 students. The institute also engagees san diego teachers, stem professionals, and community members as volunteers.”

“The Living Lab is a world class educational facility created in a partnership with the San Diego Unified School District SDUSD. In connection with this project, Ocean Discovery Institute contributed approximately 5 million and SDUSD contributed approximately 11 million toward the construction and development of The Living Lab. In 2018, The Living Lab was open and Ocean Discovery obtained the exclusive right to use the facility to provide services to the community. The Living Lab is currently owned by SDUSD and operated by Ocean Discovery Institute. In accordance with the terms of the partnership with SDUSD, Ocean Discovery will obtain title of the property at the end of its estimated useful life 40 years in exchange for providing program services to SDUSD students. As such, the cost of the building was recognized as an asset by Ocean Discovery and the value of the services to render reflected as a lease liability. Such liability is reduced ratably over the 40 year term, there is no obligation for a cash settlement. The recognition of the revenue and reduction of the lease liability matches the 40 year period of services obligated under the agreement necessary for the ownership of The Living Lab to transfer to Ocean Discovery Institute.”