Civic Intelligence

Oceanographic Research & Exploration

EIN 83-0757695 • 501(c)4 • Westport, CT

Profile

Through a series of integrated programs, oref 1) supports and conducts scientific research and exploration of the earth's oceans with a world class research and exploration ship and package of equipment, enabling such scientific research and exploration and 2) documents and distributes media and other documentation highlighting that scientific research and exploration to promote public awareness, engagement and protection of the oceans and the diverse communities they support. Oref may carry out its social welfare purposes directly or in conjunction with other organizations, entities or partners.

CO Dfo One Glendinning Place 100Westport, CT 06880

www.oceanx.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

9th percentile

0.00x

Higher debt load relative to assets than 9% of similar nonprofits.

501(c)4 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

11th percentile

0.00x

Higher debt load relative to revenue than 11% of similar nonprofits.

501(c)4 • $100M-$250M nonprofits • Source year 2024

Net Margin

15th percentile

-32%

Higher net margin than 15% of similar nonprofits.

501(c)4 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

20th percentile

-4.7%

Faster asset growth than 20% of similar nonprofits.

501(c)4 • $100M-$250M nonprofits • Annualized from 2022 to 2024

Revenue Growth

36th percentile

3.2%

Faster revenue growth than 36% of similar nonprofits.

$100M-$250M nonprofits • Annualized from 2022 to 2024

Assets

Down

$180,479,783

Down $10,924,564 (-5.7%) from 2023

Liabilities

Down

$62,227

Down $69,758 (-53%) from 2023

Net Assets

Down

$180,417,556

Down $10,854,806 (-5.7%) from 2023

Revenue

Up

$33,475,838

Up $2,418,748 (+7.8%) from 2023

Expenses

Up

$44,330,644

Up $6,063,096 (+16%) from 2023

Net Income

Down

-$10,854,806

Down $3,644,348 (-51%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2018: $68,119Liabilities 2018: $0Net Assets 2018: $68,1192018Assets 2019: $211,914,916Liabilities 2019: $70,373Net Assets 2019: $211,844,5432019Assets 2020: $205,858,853Liabilities 2020: $130,759Net Assets 2020: $205,728,0942020Assets 2021: $202,911,238Liabilities 2021: $231,482Net Assets 2021: $202,679,7562021Assets 2022: $198,595,941Liabilities 2022: $113,121Net Assets 2022: $198,482,8202022Assets 2023: $191,404,347Liabilities 2023: $131,985Net Assets 2023: $191,272,3622023Assets 2024: $180,479,783Liabilities 2024: $62,227Net Assets 2024: $180,417,5562024

Highlighted filing

2024

Assets$180,479,783
Liabilities$62,227
Net Assets$180,417,556

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300M$200M$100M$0-$100MRevenue 2018: $410,699Expenses 2018: $342,580Net Income 2018: $68,1192018Revenue 2019: $211,468,949Expenses 2019: $2,350,013Net Income 2019: $209,118,9362019Revenue 2020: $14,102,035Expenses 2020: $20,218,484Net Income 2020: -$6,116,4492020Revenue 2021: $27,525,774Expenses 2021: $30,574,112Net Income 2021: -$3,048,3382021Revenue 2022: $31,428,615Expenses 2022: $35,625,551Net Income 2022: -$4,196,9362022Revenue 2023: $31,057,090Expenses 2023: $38,267,548Net Income 2023: -$7,210,4582023Revenue 2024: $33,475,838Expenses 2024: $44,330,644Net Income 2024: -$10,854,8062024

Highlighted filing

2024

Revenue$33,475,838
Expenses$44,330,644
Net Income-$10,854,806

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 17, 2025
Return Version
2024v5.2
Gross Receipts
$33,475,838
Mission and Program Overview

Mission

Oref is organized and is operated exclusively for the promotion of social welfare. In furtherance of such purpose, oref 1) supports and conducts scientific research and exploration of the earth's oceans with a world class research and exploration ship and package of equipment, enabling such scientific research and exploration; and 2) documents and distributes media and other documentation highlighting that scientific research and exploration to promote public awareness, engagement and protection of the oceans and the diverse communities they support. Oref may carry out its social welfare purposes directly or in conjunction with other organizations, entities or partners.

Through a series of integrated programs, oref 1) supports and conducts scientific research and exploration of the earth's oceans with a world class research and exploration ship and package of equipment, enabling such scientific research and exploration and 2) creates and distributes media and other documentation highlighting that scientific research and discovery to promote public awareness, engagement and protection of the oceans and the diverse communities they support. Oref may carry out its social welfare purposes directly or in conjunction with other organizations, entities or partners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$191,272,362$180,417,556▼ $10,854,806
Land, Buildings, and Equipment, Net$157,079,030$152,129,955▼ $4,949,075
Savings and Temporary Cash Investments$33,985,731$27,572,153▼ $6,413,578
Cash and Non-Interest-Bearing Accounts$45,401$84,055▲ $38,654
Intangible Assets$5,196$65,209▲ $60,013
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$191,404,347$180,479,783▼ $10,924,564
Other Assets Total$288,989$628,411▲ $339,422
Liabilities
Accounts Payable and Accrued Expenses$131,985$62,227▼ $69,758
Total Liabilities$131,985$62,227▼ $69,758
Net Assets / Fund Balance
Total Net Assets Fund Balance$191,272,362$180,417,556▼ $10,854,806
Total Liabilities and Net Assets / Fund Balance$191,404,347$180,479,783▼ $10,924,564

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$134,700,810$41,185,665$175,886,475
Equipment$17,047,946$5,595,599$22,643,545
Leasehold Improvements$381,199$112,629$493,828
Compensation and Service Providers

Board Members and Trustees

NameTitle
Janine RacanelliDirector Ex Officio, President
Matthew DalioDirector
Mark DalioDirector, Secretary & Treasurer
Gretchen WagnerAssistant Secretary

Highest Paid Contractors

ContractorServicesLocationCompensation
EquiomMarine Crew Services25 FORD ROAD, Westport, CT 06880, Je$8,302,266
Marino Management LLCBack Office, Vessel Mgmt., Phil. Svcs.3800 NE THREE MILE LANE, Mcminnville, OR 97128, Nl$5,275,760
DamenVessel Refit ServicesJL BY PASS SANUR NO 149 KOMPLEK, Sanur Denpasar, Id$5,000,000
Pt Menara Cahaya MercusuarYacht Support Services-$1,009,437
Precision LLCHelo Management Services-$996,080
Revenue and Support

Revenue Composition

Contributions and Grants
$27,432,225
Program Service Revenue
$4,202,475
Investment Income
$1,661,406
Other Revenue
$179,732
All Other Contributions
$1,000,000
Change in Net Assets
$-10,854,806
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$41,738,354
Grants and Similar Amounts Paid$2,592,290
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$16,038,591--$16,038,591
Depreciation Depletion$11,855,618--$11,855,618
Foreign Grants$2,592,290--$2,592,290
Information Technology$1,686,129--$1,686,129
Insurance$1,129,886$27,053-$1,156,939
All Other Expenses$969,830$7,753-$977,583
Travel$877,708--$877,708
Fees for Services Management-$762,333-$762,333
Advertising$448,704--$448,704
Office Expenses$324,990$57,351-$382,341
Fees for Services Legal$294,977--$294,977
Other Expenses$293,952--$293,952
Occupancy$177,254$31,280-$208,534
Fees for Services Accounting$21,062$184,967-$206,029
Total Functional Expenses$43,259,907$1,070,737$0$44,330,644
International Activity

International Summary

Offices
0
Employees
64
Spending
$36,412,181

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
Yes

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram ServicesMulti-disciplinary Scientific and Media Expedition018$18,531,447
East Asia and the PacificProgram ServicesProgramming Focused on Enhancing Public Awareness and Ocean Conservation012$9,080,409
Sub-saharan AfricaProgram ServicesMulti-disciplinary Scientific and Media Expedition018$5,096,148
East Asia and the PacificGrants to Recipients Located in the RegionN/a00$2,592,290
East Asia and the PacificProgram ServicesYoung Explorers Program016$1,111,887
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
Yes
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Mark dalio and matthew dalio have a family relationship. Janine racanelli, and gretchen wagner have a business relationship.

Form 990, Part VI, Section A, Line 6

Under delaware law, corporations must have members, as provided by the organization's bylaws. The directors and members are the same people.

Form 990, Part VI, Section A, Line 7A

Under delaware law, corporations must have members, as provided by the organization's bylaws. The directors and members are the same people.

Form 990, Part VI, Section B, Line 11B

Janine racanelli (president) and gretchen wagner (assistant secretary), along with designated tax advisors, will review and approve the form 990 tax return before it is filed.

Form 990, Part VI, Section B, Line 12C

1. Covered persons are officers and directors of oref, and their family members and businesses for which they own 35% or more. 2. Conflict of interest disclosures are made via an annual disclosure statement that covered persons are required to review and sign. 3. Upon a covered person's disclosure of an interest in a transaction, the intermediate sanctions and conflicts of interest committee, in consultation with counsel if necessary, will determine whether a conflict of interest exists. 4. If it is determined that a conflict exists or that there is an appearance of a conflict, the transaction may be approved only upon a vote of a majority of the disinterested members of the intermediate sanctions and conflicts of interest committee, or, if there are no disinterested committee members, by unanimous vote of the committee members. The covered person may be present for the discussion in order to respond to questions and elaborate on the information presented. Upon request of the disinterested committee members, the covered person will be required to excuse himself or herself from the vote on the transaction. In any event, the covered person, if a member of the intermediate sanctions and conflicts of interest committee, will abstain from voting on the transaction except insofar as the policy requires a unanimous vote.

Form 990, Part VI, Section C, Line 19

Governing documents and conflict of interest policy are available upon request.

Filing and Contact Details

Filer

Filer Name
Oceanographic Research & Exploration
EIN
83-0757695
Phone
2032915000
Address
CO DFO ONE GLENDINNING PLACE 100, WESTPORT, CT 06880
Doing Business As
Oceanx

Signing Officer

Name
Janine Racanelli
Title
President
Phone
2032915000
Signed
2025-11-17
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Janine Racanelli
Formed
2018
Legal Domicile
De
Voting Board Members
2
Independent Board Members
2
Employees
0
Volunteers
4

Preparer

Firm
Clark Nuber Ps
Address
555 110TH AVE NE SUITE 700, BELLEVUE, WA 98004
Preparer
Megan R Ryan
Phone
4254544919
Supplemental Narrative

Additional Explanations

FORM 990, PART 1, LINE 6:

The foundation had two volunteer board members and two volunteer officers.

FORM 990, PART III, LINE 4:

The following initiatives span scientific research, media, education & engagement initiatives to further our collective scientific and educational understanding, engagement and protection of the oceans: oceanxplorers series: the oceanxplorers series is a collaboration with scientific and media organizations to create a six-episode series with additional ancillary educational and outreach activities. The series is focused on the scientific exploration of the ocean, and profiles scientists who engage in oceanographic research and exploration. The series aims to engage audiences globally on the importance of understanding, appreciating, and protecting the oceans. Ancillary educational programing brought to life the oceanxperience museum exhibit, an interactive and immersive replica of the r/v oceanxplorer for people of all ages. 2024 yep v & yep vi: the young explorer's program (yep) is an educational program intended to expose students with an interest in the oceans to scientific exploration, science communications and vessel operations. We hosted two yep programs that included students and educators from around the world. The program includes three components: 1) oceanographic and marine biological studies; 2) science communications including short and long form visual media; and 3) ship operations including functions of various crew departments. 2024 research and scientific missions in indonesia, seychelles, and malaysia: during the 2024 year, oceanx conducted comprehensive missions in indonesia, seychelles, and malaysia, focusing on marine research and conservation, and evaluating marine ecology and coastal ecosystems. The missions involved high-resolution mapping of the seafloor, conducting water quality analyses, deploying various underwater vehicles for biological surveys, and evaluating marine ecology and coastal ecosystem functions. Missions were conducted in collaboration with local university and non-profit partners and employed a multidisciplinary approach, combining biological, geological, geophysical, and oceanographic studies, to contribute to understanding and conservation of oceanographic processes, marine life, and resources. 2024 educational and public programming in singapore and philippines: during the year, oceanx carried out a number of high-impact educational events and programs in singapore and the philippines aimed at highlighting the importance of ocean conservation and oceanx's mission to understand and protect the oceans in se asia and engagaging students and educators to inspire interest in ocean science. Education programming with oceanx education: throughout 2024, oceanx actively engaged students and educators through various educational programs. These initiatives included portside programs in multiple locations, digital classroom livestreams, and the development of ocean curriculum packages. Additionally, oceanx has been working on immersive exhibits and installations to enhance public engagement. These efforts aim to inspire interest in ocean science and conservation among students and the general public. Examples includes oceanx's successful classroom livestreams for singapore schools and development of immersive vr and ar experiences, such as the "dive and discover: seychelles" game, to provide interactive ocean education.

Form 990, Part IX, Line 11G

Marine crew fees: program service expenses 8,481,803. Management and general expenses 0. Fundraising expenses 0. Total expenses 8,481,803. Marine equipment management fees: program service expenses 855,796. Management and general expenses 0. Fundraising expenses 0. Total expenses 855,796. Consulting: program service expenses 2,116,877. Management and general expenses 0. Fundraising expenses 0. Total expenses 2,116,877. Other management fees: program service expenses 4,319,885. Management and general expenses 0. Fundraising expenses 0. Total expenses 4,319,885. Administrative: program service expenses 264,230. Management and general expenses 0. Fundraising expenses 0. Total expenses 264,230.

Raw XML AppendixShowing 400 of 640 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0DIRECTOR, SECRETARY & TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt1DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt2DIRECTOR EX OFFICIO, PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3ASSISTANT SECRETARY
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IRS990/FormationYr02018
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IRS990/MissionDesc0THROUGH A SERIES OF INTEGRATED PROGRAMS, OREF 1) SUPPORTS AND CONDUCTS SCIENTIFIC RESEARCH AND EXPLORATION OF THE EARTH'S OCEANS WITH A WORLD CLASS RESEARCH AND EXPLORATION SHIP AND PACKAGE OF EQUIPMENT, ENABLING SUCH SCIENTIFIC RESEARCH AND EXPLORATION AND 2) CREATES AND DISTRIBUTES MEDIA AND OTHER DOCUMENTATION HIGHLIGHTING THAT SCIENTIFIC RESEARCH AND DISCOVERY TO PROMOTE PUBLIC AWARENESS, ENGAGEMENT AND PROTECTION OF THE OCEANS AND THE DIVERSE COMMUNITIES THEY SUPPORT. OREF MAY CARRY OUT ITS SOCIAL WELFARE PURPOSES DIRECTLY OR IN CONJUNCTION WITH OTHER ORGANIZATIONS, ENTITIES OR PARTNERS.
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IRS990/OtherExpensesGrp/Desc0VESSEL FUEL & MAINT.
IRS990/OtherExpensesGrp/Desc1VESSEL MEALS & TRAVEL
IRS990/OtherExpensesGrp/Desc2MEDIA PRODUCTION
IRS990/OtherExpensesGrp/Desc3EQUIPMENT
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IRS990/OtherExpensesGrp/ProgramServicesAmt2451300
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IRS990/OtherRevenueMiscGrp/Desc1ADVERTISING REVENUE
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IRS990/PrincipalOfficerNm0JANINE RACANELLI
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IRS990/ProgramServiceRevenueGrp/Desc0SOC WELFARE PRODUCTION
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt02852475
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11350000
IRS990/ProgSrvcAccomActy2Grp/Desc0ENGAGE IN AND SUPPORT SCIENTIFIC EDUCATIONAL AND AWARENESS RAISING EFFORTS ON BEHALF OF OCEAN SCIENCE, PROTECTION, EXPLORATION AND STEWARDSHIP. ENGAGING AND EDUCATING AUDIENCES GLOBALLY BY CREATING EDUCATIONAL PROGRAMMING AND CAPTIVATING MEDIA IN MULTIPLE FORMATS AND ACROSS MULTIPLE CHANNELS ABOUT THE IMPORTANCE OF THE OCEANS AND THEIR PROTECTION, FOR THE BENEFIT OF PEOPLE GLOBALLY INCLUDING COMMUNITIES THAT DEPEND ON THE OCEAN FOR THEIR SUSTAINABILITY.REFER TO SCHEDULE O FOR PROGRAM SERVICE ACCOMPLISHMENTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt09253540
IRS990/ProgSrvcAccomActy2Grp/GrantAmt02167290
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt02893261
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0SUB-SAHARAN AFRICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt3EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt4EAST ASIA AND THE PACIFIC
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0MULTI-DISCIPLINARY SCIENTIFIC AND MEDIA EXPEDITION
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1PROGRAMMING FOCUSED ON ENHANCING PUBLIC AWARENESS AND OCEAN CONSERVATION
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt2YOUNG EXPLORERS PROGRAM
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt3MULTI-DISCIPLINARY SCIENTIFIC AND MEDIA EXPEDITION
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt4N/A
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt3PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt4GRANTS TO RECIPIENTS LOCATED IN THE REGION
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IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt10
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/DescriptionOfNonCashAsstTxt0MARINE ASSETS, MEDIA EQUIPMENT, EXPENSES PAID ON BEHALF OF GRANTEE.
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0WIRE
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/NonCashAssistanceAmt00
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/NonCashAssistanceAmt12092290
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0TO SUPPORT GENERAL OPERATIONS
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt1TO SUPPORT GENERAL OPERATIONS
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0EAST ASIA AND THE PACIFIC
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt1EAST ASIA AND THE PACIFIC
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0OCEANOGRAPHIC RESEARCH & EXPLORATION FOUNDATION ACTIVELY MONITORS GRANTEES TO ENSURE THAT GRANT FUNDS ARE USED BY GRANTEE FOR SOCIAL WELFARE PURPOSES, CONSISTENT WITH GRANT AGREEMENT TERMS. MOST GRANTS REQUIRE REGULAR FINANCIAL AND NARRATIVE REPORTING, WHICH IS REVIEWED BY INTERNAL STAFF. GRANTS ARE LIMITED TO SOCIAL WELFARE PURPOSES, TYPICALLY THROUGH GRANT AGREEMENTS, WHERE THE USE OF FUNDS IS EXPRESSLY LIMITED TO 501(C)(4) PURPOSES AND FUNDS MUST BE RETURNED IF THEY ARE USED FOR OTHER PURPOSES.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1THE MODIFIED CASH METHOD IS USED TO ACCOUNT FOR EXPENDITURES.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt2THE VESSEL MOVED THROUGHOUT SUB-SAHARAN AFRICA, EAST ASIA AND THE PACIFIC DURING 2024. SEE FORM 990, PART III FOR OUR PROGRAMMATIC ACTIVITIES.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt3FORM 926 IS NOT REQUIRED TO BE FILED BECAUSE THE TRANSFER TO A FOREIGN CORPORATION DOES NOT MEET THE REPORTING REQUIREMENTS IN THE IRC SEC 6038(A)(1)(A).
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1PART I, LINE 3:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE F, PART I, LINE 3:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc3SCHEDULE F, PART IV, LINE 1:
IRS990ScheduleF/Total501c3OrgCnt02
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IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
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IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0ALTHOUGH MARK DALIO RECEIVES NO COMPENSATION FOR HIS ROLES AS DIRECTOR, SECRETARY & TREASURER, HE DID RECEIVE COMPENSATION IN 2024 ($323,855) FROM MARINO MANAGEMENT, AN UNRELATED ORGANIZATION, FOR OTHER SERVICES PROVIDED TO MARINO MANAGEMENT.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, SUPPLEMENTAL DISCLOSURE:
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION HAD TWO VOLUNTEER BOARD MEMBERS AND TWO VOLUNTEER OFFICERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOLLOWING INITIATIVES SPAN SCIENTIFIC RESEARCH, MEDIA, EDUCATION & ENGAGEMENT INITIATIVES TO FURTHER OUR COLLECTIVE SCIENTIFIC AND EDUCATIONAL UNDERSTANDING, ENGAGEMENT AND PROTECTION OF THE OCEANS: OCEANXPLORERS SERIES: THE OCEANXPLORERS SERIES IS A COLLABORATION WITH SCIENTIFIC AND MEDIA ORGANIZATIONS TO CREATE A SIX-EPISODE SERIES WITH ADDITIONAL ANCILLARY EDUCATIONAL AND OUTREACH ACTIVITIES. THE SERIES IS FOCUSED ON THE SCIENTIFIC EXPLORATION OF THE OCEAN, AND PROFILES SCIENTISTS WHO ENGAGE IN OCEANOGRAPHIC RESEARCH AND EXPLORATION. THE SERIES AIMS TO ENGAGE AUDIENCES GLOBALLY ON THE IMPORTANCE OF UNDERSTANDING, APPRECIATING, AND PROTECTING THE OCEANS. ANCILLARY EDUCATIONAL PROGRAMING BROUGHT TO LIFE THE OCEANXPERIENCE MUSEUM EXHIBIT, AN INTERACTIVE AND IMMERSIVE REPLICA OF THE R/V OCEANXPLORER FOR PEOPLE OF ALL AGES. 2024 YEP V & YEP VI: THE YOUNG EXPLORER'S PROGRAM (YEP) IS AN EDUCATIONAL PROGRAM INTENDED TO EXPOSE STUDENTS WITH AN INTEREST IN THE OCEANS TO SCIENTIFIC EXPLORATION, SCIENCE COMMUNICATIONS AND VESSEL OPERATIONS. WE HOSTED TWO YEP PROGRAMS THAT INCLUDED STUDENTS AND EDUCATORS FROM AROUND THE WORLD. THE PROGRAM INCLUDES THREE COMPONENTS: 1) OCEANOGRAPHIC AND MARINE BIOLOGICAL STUDIES; 2) SCIENCE COMMUNICATIONS INCLUDING SHORT AND LONG FORM VISUAL MEDIA; AND 3) SHIP OPERATIONS INCLUDING FUNCTIONS OF VARIOUS CREW DEPARTMENTS. 2024 RESEARCH AND SCIENTIFIC MISSIONS IN INDONESIA, SEYCHELLES, AND MALAYSIA: DURING THE 2024 YEAR, OCEANX CONDUCTED COMPREHENSIVE MISSIONS IN INDONESIA, SEYCHELLES, AND MALAYSIA, FOCUSING ON MARINE RESEARCH AND CONSERVATION, AND EVALUATING MARINE ECOLOGY AND COASTAL ECOSYSTEMS. THE MISSIONS INVOLVED HIGH-RESOLUTION MAPPING OF THE SEAFLOOR, CONDUCTING WATER QUALITY ANALYSES, DEPLOYING VARIOUS UNDERWATER VEHICLES FOR BIOLOGICAL SURVEYS, AND EVALUATING MARINE ECOLOGY AND COASTAL ECOSYSTEM FUNCTIONS. MISSIONS WERE CONDUCTED IN COLLABORATION WITH LOCAL UNIVERSITY AND NON-PROFIT PARTNERS AND EMPLOYED A MULTIDISCIPLINARY APPROACH, COMBINING BIOLOGICAL, GEOLOGICAL, GEOPHYSICAL, AND OCEANOGRAPHIC STUDIES, TO CONTRIBUTE TO UNDERSTANDING AND CONSERVATION OF OCEANOGRAPHIC PROCESSES, MARINE LIFE, AND RESOURCES. 2024 EDUCATIONAL AND PUBLIC PROGRAMMING IN SINGAPORE AND PHILIPPINES: DURING THE YEAR, OCEANX CARRIED OUT A NUMBER OF HIGH-IMPACT EDUCATIONAL EVENTS AND PROGRAMS IN SINGAPORE AND THE PHILIPPINES AIMED AT HIGHLIGHTING THE IMPORTANCE OF OCEAN CONSERVATION AND OCEANX'S MISSION TO UNDERSTAND AND PROTECT THE OCEANS IN SE ASIA AND ENGAGAGING STUDENTS AND EDUCATORS TO INSPIRE INTEREST IN OCEAN SCIENCE. EDUCATION PROGRAMMING WITH OCEANX EDUCATION: THROUGHOUT 2024, OCEANX ACTIVELY ENGAGED STUDENTS AND EDUCATORS THROUGH VARIOUS EDUCATIONAL PROGRAMS. THESE INITIATIVES INCLUDED PORTSIDE PROGRAMS IN MULTIPLE LOCATIONS, DIGITAL CLASSROOM LIVESTREAMS, AND THE DEVELOPMENT OF OCEAN CURRICULUM PACKAGES. ADDITIONALLY, OCEANX HAS BEEN WORKING ON IMMERSIVE EXHIBITS AND INSTALLATIONS TO ENHANCE PUBLIC ENGAGEMENT. THESE EFFORTS AIM TO INSPIRE INTEREST IN OCEAN SCIENCE AND CONSERVATION AMONG STUDENTS AND THE GENERAL PUBLIC. EXAMPLES INCLUDES OCEANX'S SUCCESSFUL CLASSROOM LIVESTREAMS FOR SINGAPORE SCHOOLS AND DEVELOPMENT OF IMMERSIVE VR AND AR EXPERIENCES, SUCH AS THE "DIVE AND DISCOVER: SEYCHELLES" GAME, TO PROVIDE INTERACTIVE OCEAN EDUCATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MARK DALIO AND MATTHEW DALIO HAVE A FAMILY RELATIONSHIP. JANINE RACANELLI, AND GRETCHEN WAGNER HAVE A BUSINESS RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UNDER DELAWARE LAW, CORPORATIONS MUST HAVE MEMBERS, AS PROVIDED BY THE ORGANIZATION'S BYLAWS. THE DIRECTORS AND MEMBERS ARE THE SAME PEOPLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UNDER DELAWARE LAW, CORPORATIONS MUST HAVE MEMBERS, AS PROVIDED BY THE ORGANIZATION'S BYLAWS. THE DIRECTORS AND MEMBERS ARE THE SAME PEOPLE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5JANINE RACANELLI (PRESIDENT) AND GRETCHEN WAGNER (ASSISTANT SECRETARY), ALONG WITH DESIGNATED TAX ADVISORS, WILL REVIEW AND APPROVE THE FORM 990 TAX RETURN BEFORE IT IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt61. COVERED PERSONS ARE OFFICERS AND DIRECTORS OF OREF, AND THEIR FAMILY MEMBERS AND BUSINESSES FOR WHICH THEY OWN 35% OR MORE. 2. CONFLICT OF INTEREST DISCLOSURES ARE MADE VIA AN ANNUAL DISCLOSURE STATEMENT THAT COVERED PERSONS ARE REQUIRED TO REVIEW AND SIGN. 3. UPON A COVERED PERSON'S DISCLOSURE OF AN INTEREST IN A TRANSACTION, THE INTERMEDIATE SANCTIONS AND CONFLICTS OF INTEREST COMMITTEE, IN CONSULTATION WITH COUNSEL IF NECESSARY, WILL DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. 4. IF IT IS DETERMINED THAT A CONFLICT EXISTS OR THAT THERE IS AN APPEARANCE OF A CONFLICT, THE TRANSACTION MAY BE APPROVED ONLY UPON A VOTE OF A MAJORITY OF THE DISINTERESTED MEMBERS OF THE INTERMEDIATE SANCTIONS AND CONFLICTS OF INTEREST COMMITTEE, OR, IF THERE ARE NO DISINTERESTED COMMITTEE MEMBERS, BY UNANIMOUS VOTE OF THE COMMITTEE MEMBERS. THE COVERED PERSON MAY BE PRESENT FOR THE DISCUSSION IN ORDER TO RESPOND TO QUESTIONS AND ELABORATE ON THE INFORMATION PRESENTED. UPON REQUEST OF THE DISINTERESTED COMMITTEE MEMBERS, THE COVERED PERSON WILL BE REQUIRED TO EXCUSE HIMSELF OR HERSELF FROM THE VOTE ON THE TRANSACTION. IN ANY EVENT, THE COVERED PERSON, IF A MEMBER OF THE INTERMEDIATE SANCTIONS AND CONFLICTS OF INTEREST COMMITTEE, WILL ABSTAIN FROM VOTING ON THE TRANSACTION EXCEPT INSOFAR AS THE POLICY REQUIRES A UNANIMOUS VOTE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8MARINE CREW FEES: PROGRAM SERVICE EXPENSES 8,481,803. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 8,481,803. MARINE EQUIPMENT MANAGEMENT FEES: PROGRAM SERVICE EXPENSES 855,796. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 855,796. CONSULTING: PROGRAM SERVICE EXPENSES 2,116,877. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,116,877. OTHER MANAGEMENT FEES: PROGRAM SERVICE EXPENSES 4,319,885. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 4,319,885. ADMINISTRATIVE: PROGRAM SERVICE EXPENSES 264,230. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 264,230.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART 1, LINE 6:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III, LINE 4:
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION A, LINE 7A

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