Walter Munk Foundation for the Oceans

“Corporation is relatively new and does not have committees. Currently, only a board of directors exists and is documenting their minutes until they have a committee in place.”

“The draft of the 990 is distributed to the full board to have the opportunity to review and comment before the 990 is finalized.”

“1. Any potential conflict of interest that may affect a matter under consideration shall be disclosed by the trustee to the board and made a matter of record as soon as the possible conflict is determined. 2. The interested trustee shall not vote on such matter and shall not attempt to exert influence in connection with the matter. He or she may be present at the meeting of the board or committee, but he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. 3. The minutes of the meeting shall reflect that a disclosure was made and the interested trustee's abstention from voting. 4. A member of any committee whose jurisdiction includes compensation matters and who receives compensation, directly or indirectly, from the corporation for services is precluded from voting on matters pertaining to that member's compensation. 5. A master list of all disclosed potential conflicts of interest is compiled annually and reviewed periodically to ensure compliance.”

“The governing documents are made available to the public upon request.”

“Organization's primary exempt purpose the purpose of this corporation is to continue walter munk's work and legacy of daring exploration and discovery through scientific research, education, and ocean conservation. In particular, the corporation's goals and objectives are as follows: a) to promote stewardship of our oceans by: i. Creating awareness of the environmental problems related to the oceans; ii. Teaching responsible use and protection of our oceans through conservation and sustainable practices; iii. Conserving our aquatic ecosystems and protecting species that are endangered; iv. Developing and reaching out to doers, donors, and practitioners. Continued b) work with students of all ages through outreach educational programs: i. Publicizing expeditions and related activities; ii. Collecting and sharing data; and iii. Publishing scientific papers. C) to establish collaborations and interdisciplinary partnerships with global governmental agencies, institutions, and organizations with similar goals; d) to advocate for a better understanding of climate change and sea level rise; and e) to raise money to support the coporation's charitable goals.”

“Consulting: program service expenses 58,224. Management and general expenses 147,167. Fundraising expenses 0. Total expenses 205,391. Payroll fees: program service expenses 0. Management and general expenses 1,525. Fundraising expenses 0. Total expenses 1,525.”