Civic Intelligence

Oceanographic Research & Exploration

990 • Fiscal year 2023 • EIN 83-0757695

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 13, 2024

One Glendinning PlaceWestport, CT 06880

(203) 291-5000

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

12th percentile

0.00x

Higher debt load relative to assets than 12% of similar nonprofits.

2023 filings • $100M-$250M nonprofits • Source year 2023

Liabilities / Revenue

12th percentile

0.00x

Higher debt load relative to revenue than 12% of similar nonprofits.

2023 filings • $100M-$250M nonprofits • Source year 2023

Net Margin

14th percentile

-23%

Higher net margin than 14% of similar nonprofits.

2023 filings • $100M-$250M nonprofits • Source year 2023

Top Officer Pay

12th percentile

$0

Higher top officer pay than 12% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2023 filings • $100M-$250M nonprofits • Source year 2023

Asset Growth

14th percentile

-3.6%

Faster asset growth than 14% of similar nonprofits.

2023 filings • $100M-$250M nonprofits • Annualized from 2022 to 2023

Revenue Growth

35th percentile

-1.2%

Faster revenue growth than 35% of similar nonprofits.

2023 filings • $100M-$250M nonprofits • Annualized from 2022 to 2023

Assets

Down

$191,404,347

Down $7,191,594 (-3.6%) from 2022

Net Assets

Down

$191,272,362

Down $7,210,458 (-3.6%) from 2022

Liabilities

Up

$131,985

Up $18,864 (+17%) from 2022

Revenue

Down

$31,057,090

Down $371,525 (-1.2%) from 2022

Expenses

Up

$38,267,548

Up $2,641,997 (+7.4%) from 2022

Net Income

Down

-$7,210,458

Down $3,013,522 (-72%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2023

Assets$191,404,347
Liabilities$131,985
Net Assets$191,272,362

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2023

Revenue$31,057,090
Expenses$38,267,548
Net Income-$7,210,458
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 13, 2024
Return Version
2023v5.1
Gross Receipts
$31,057,090
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 & discovery of the earth's oceans with a world class research and discovery ship and package of equipment enabling such scientific research and discovery 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 purposed directly or in conjunction with other organizations, entities or partners.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$198,482,820$191,272,362▼ $7,210,458
Land, Buildings, and Equipment, Net$155,671,815$157,079,030▲ $1,407,215
Savings and Temporary Cash Investments$39,597,083$33,985,731▼ $5,611,352
Cash and Non-Interest-Bearing Accounts$2,858,722$45,401▼ $2,813,321
Accounts Receivable$12,397$0▼ $12,397
Intangible Assets$15,586$5,196▼ $10,390
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$198,595,941$191,404,347▼ $7,191,594
Other Assets Total$440,338$288,989▼ $151,349
Liabilities
Accounts Payable and Accrued Expenses$113,121$131,985▲ $18,864
Total Liabilities$113,121$131,985▲ $18,864
Net Assets / Fund Balance
Total Net Assets Fund Balance$198,482,820$191,272,362▼ $7,210,458
Total Liabilities and Net Assets / Fund Balance$198,595,941$191,404,347▼ $7,191,594

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$139,307,932$30,737,216$170,045,148
Equipment$17,373,636$4,288,661$21,662,297
Leasehold Improvements$397,462$96,366$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
DamenVessel Refit Services25 FORD ROAD, Westport, CT 06880, Nl$7,873,088
EquiomMarine Crew Services3800 NE THREE MILE LANE, Mcminnville, OR 97128, Je$7,345,292
Marino Management LLCBack Office, Vessel Mgmt., Phil. Svcs.8 ELLIOT PLACE, Glasgow, Uk$4,200,017
Precision LLCHelo Management Services-$854,482
Seatec Uk LtdEngineering And Construction Services-$810,444
Revenue and Support

Revenue Composition

Contributions and Grants
$20,086,326
Program Service Revenue
$9,131,388
Investment Income
$1,500,112
Other Revenue
$339,264
All Other Contributions
$41,326
Change in Net Assets
$-7,210,458

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
Other Non Cash Contri Table1$40,346Cost
Total Noncash Contributions1$40,346-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$38,267,548
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$12,924,914--$12,924,914
Depreciation Depletion$11,383,814--$11,383,814
Information Technology$1,616,510--$1,616,510
Fees for Services Management-$1,505,432-$1,505,432
Insurance$1,427,832$13,793-$1,441,625
Travel$939,023--$939,023
Advertising$906,457--$906,457
All Other Expenses$633,256$2,670-$635,926
Office Expenses$308,859$102,953-$411,812
Fees for Services Legal$374,796--$374,796
Occupancy$232,695$77,165-$309,860
Other Expenses$244,539--$244,539
Fees for Services Accounting$18,209$192,791-$211,000
Total Functional Expenses$36,372,744$1,894,804$0$38,267,548
International Activity

International Summary

Offices
0
Employees
206
Spending
$30,913,890

International Compliance

Activity in boycott countries
Yes
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
Europe (including Iceland & Greenland)Program ServicesVessel Refit & Ship Design Services056$17,473,527
Middle East and North AfricaProgram ServicesMulti-disciplinary Scientific and Media Expedition043$7,596,727
Europe (including Iceland & Greenland)Program ServicesMulti-disciplinary Scientific and Media Expedition048$5,092,311
Europe (including Iceland & Greenland)Program ServicesYoung Explorers Program059$751,325
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
No
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

Draft 990 to be reviewed by the president and assistant secretary prior to filing.

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
ONE GLENDINNING PLACE, WESTPORT, CT 06880
Doing Business As
Oceanx

Signing Officer

Name
Janine Racanelli
Title
President
Phone
2032915000
Signed
2024-11-13
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
10900 NE 4TH ST SUITE 1400, 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: cop28 oref had a major presence at the 2024 united national global climent conference, cop28. The event allowed attendees and oref to engage in in-depth discussions about the role of science in protecting the ocean, strengthening ocean-climate action, and increasing commitment to the exploration and discovery. This was accomplished through a pavilion installation in the diplomatic negotiation zone in partnership with ioc-unesco as well as the presence of the r/v oceanxplorer docked locally to the conference. Refit the oceanxplorer, one of the most advanced scientific exploration vessels, completed a 5-year project upgrading its scientific, media and operational capabilities. A significant investment was made to enhance the vessel's science and media labs, and core marine infrastructure. In total, the refit transformed a former oil prospecting vessel to a one-of-a-kind floating laboratory for marine biology research, exploration, and ocean storytelling. Oceanxplorers series the oceanxplorers series aims to engage audiences globally on the importance of understanding, appreciating, and protecting the oceans. The 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. Filming on episodes 3 and 4 tookplacein the azores. Ancillary educational programing brought to life the oceanxperience museum exhibit, which debuted at liberty science center in newark, nj as an interactive and immersive replica of the r/v oceanxplorer for people of all ages. 2023 uib mission oref completed a mission in collaboration with researchers from the university of bergen that expanded our understanding of fundamental marine ecological processes like carbon flux and sequestration, animal behavior and biodiversity change over time. The expedition surveyed deep waters in and offshore within kelp and benthic communities in masfjorden and sognefjorden. 2023 azores mission researchers from the university of azores, okeanos joined oref for a research-focused expedition exploring and mapping the deep sea, mesopelagic, and pelagic environments surrounding seamounts in the azores. Using multidisciplinary approaches, the mission filled knowledge gaps in the region, improving habitat mapping, and visiting and exploring predicted vulnerable marine ecosystems, such as hydrothermal vents, corals, fish, deep-sea sharks, and shark's eggs/nurseries. 2023 yep iv the young explorer's program is an educational program intended to expose students with an interest in the oceans to scientific exploration, science communications and vessel operations. 17 students were offered hands-on, real-world exposure to marine science and media onboard our world-class research vessel, the oceanxplorer. The program has an emphasis on students and educators from underrepresented groups. 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. Uae science oref, in collaboration with the environment agency of abu dhabi, in a first-of-its-kind mapping of the uae's ocean environment and conducted a major fisheries assessment. The mission's work will contribute to informed decision making for the sustainable management of the oceans while empowering local fishery practices around the uae.

Form 990, Part IX, Line 11G

Marine crew fees: program service expenses 7,452,507. Management and general expenses 0. Fundraising expenses 0. Total expenses 7,452,507. Marine equipment management fees: program service expenses 1,818,058. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,818,058. Consulting: program service expenses 1,661,323. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,661,323. Other management fees: program service expenses 1,505,432. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,505,432. Administrative: program service expenses 487,594. Management and general expenses 0. Fundraising expenses 0. Total expenses 487,594.

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IRS990/ActivityOrMissionDesc0THROUGH A SERIES OF INTEGRATED PROGRAMS, OREF 1) SUPPORTS AND CONDUCTS SCIENTIFIC RESEARCH & DISCOVERY OF THE EARTH'S OCEANS WITH A WORLD CLASS RESEARCH AND DISCOVERY SHIP AND PACKAGE OF EQUIPMENT ENABLING SUCH SCIENTIFIC RESEARCH AND DISCOVERY 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 PURPOSED DIRECTLY OR IN CONJUNCTION WITH OTHER ORGANIZATIONS, ENTITIES OR PARTNERS.
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IRS990/Desc0RESEARCH INITIATIVE: CONDUCT RESEARCH AND DISCOVERY OF THE EARTH'S OCEANS AND FOSTER AND PROMOTE PUBLIC AWARENESS, ADVOCACY, SCIENTIFIC DISCOVERY, AND ENGAGEMENT TO FOSTER GREATER STEWARDSHIP AND PROTECTION OF THE OCEANS. COLLABORATE WITH LEADING SCIENTIFIC, MEDIA AND PHILANTHROPIC ORGANIZATION TO FURTHER SCIENTIFIC DISCOVERY OF THE OCEANS AND THEIR PROTECTION. THROUGH THESE COLLABORATIONS, OREF HAS AND WILL CONTINUE TO SCIENTIFICALLY EXPLORE THE OCEANS AND SUPPORT THE DOCUMENTATION OF THOSE SCIENTIFIC EXPLORATIONS AND DISCOVERIES. REFER TO SCHEDULE O FOR PROGRAM SERVICE ACCOMPLISHMENTS.
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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/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) 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.
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IRS990/OtherExpensesGrp/Desc0VESSEL FUEL & MAINT.
IRS990/OtherExpensesGrp/Desc1VESSEL MEALS & TRAVEL
IRS990/OtherExpensesGrp/Desc2COMMUNITY OUTREACH
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IRS990/PrincipalOfficerNm0JANINE RACANELLI
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IRS990/ProgSrvcAccomActy2Grp/Desc0EDUCATION, ENGAGEMENT, AND AWARENESS: ENGAGE IN AND SUPPORT 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 MARGINALIZED COMMUNITIES THAT DEPEND ON THE OCEAN FOR THEIR SUSTAINABILITY.REFER TO SCHEDULE O FOR PROGRAM SERVICE ACCOMPLISHMENTS.
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0EUROPE (INCLUDING ICELAND & GREENLAND)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt1EUROPE (INCLUDING ICELAND & GREENLAND)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt2EUROPE (INCLUDING ICELAND & GREENLAND)
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt3MIDDLE EAST AND NORTH AFRICA
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0VESSEL REFIT & SHIP DESIGN SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt1MULTI-DISCIPLINARY SCIENTIFIC AND MEDIA EXPEDITION
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt2YOUNG EXPLORERS PROGRAM
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt3MULTI-DISCIPLINARY SCIENTIFIC AND MEDIA EXPEDITION
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt1PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt2PROGRAM SERVICES
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt3PROGRAM SERVICES
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IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt0206
IRS990ScheduleF/SubtotalOfficesCnt00
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IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0THE MODIFIED CASH METHOD IS USED TO ACCOUNT FOR EXPENDITURES.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt1THE VESSEL MOVED THROUGHOUT EUROPE AND MIDDLE EAST DURING 2023. SEE FORM 990, PART III FOR OUR PROGRAMMATIC ACTIVITIES.
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt2FORM 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 3:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE F, PART I, LINE 3:
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE F, PART IV, LINE 1:
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IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0MARINE ASSET
IRS990ScheduleM/OtherNonCashContriTableGrp/MethodOfDeterminingRevenuesTxt0COST
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IRS990ScheduleM/SupplementalInformationDetail/ExplanationTxt0THE AMOUNT IN COLUMN B REPRESENTS THE NUMBER OF CONTRIBUTIONS RECEIVED.
IRS990ScheduleM/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, COLUMN (B):
IRS990ScheduleM/ThirdPartiesUsedInd00
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: COP28 OREF HAD A MAJOR PRESENCE AT THE 2024 UNITED NATIONAL GLOBAL CLIMENT CONFERENCE, COP28. THE EVENT ALLOWED ATTENDEES AND OREF TO ENGAGE IN IN-DEPTH DISCUSSIONS ABOUT THE ROLE OF SCIENCE IN PROTECTING THE OCEAN, STRENGTHENING OCEAN-CLIMATE ACTION, AND INCREASING COMMITMENT TO THE EXPLORATION AND DISCOVERY. THIS WAS ACCOMPLISHED THROUGH A PAVILION INSTALLATION IN THE DIPLOMATIC NEGOTIATION ZONE IN PARTNERSHIP WITH IOC-UNESCO AS WELL AS THE PRESENCE OF THE R/V OCEANXPLORER DOCKED LOCALLY TO THE CONFERENCE. REFIT THE OCEANXPLORER, ONE OF THE MOST ADVANCED SCIENTIFIC EXPLORATION VESSELS, COMPLETED A 5-YEAR PROJECT UPGRADING ITS SCIENTIFIC, MEDIA AND OPERATIONAL CAPABILITIES. A SIGNIFICANT INVESTMENT WAS MADE TO ENHANCE THE VESSEL'S SCIENCE AND MEDIA LABS, AND CORE MARINE INFRASTRUCTURE. IN TOTAL, THE REFIT TRANSFORMED A FORMER OIL PROSPECTING VESSEL TO A ONE-OF-A-KIND FLOATING LABORATORY FOR MARINE BIOLOGY RESEARCH, EXPLORATION, AND OCEAN STORYTELLING. OCEANXPLORERS SERIES THE OCEANXPLORERS SERIES AIMS TO ENGAGE AUDIENCES GLOBALLY ON THE IMPORTANCE OF UNDERSTANDING, APPRECIATING, AND PROTECTING THE OCEANS. THE 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. FILMING ON EPISODES 3 AND 4 TOOKPLACEIN THE AZORES. ANCILLARY EDUCATIONAL PROGRAMING BROUGHT TO LIFE THE OCEANXPERIENCE MUSEUM EXHIBIT, WHICH DEBUTED AT LIBERTY SCIENCE CENTER IN NEWARK, NJ AS AN INTERACTIVE AND IMMERSIVE REPLICA OF THE R/V OCEANXPLORER FOR PEOPLE OF ALL AGES. 2023 UIB MISSION OREF COMPLETED A MISSION IN COLLABORATION WITH RESEARCHERS FROM THE UNIVERSITY OF BERGEN THAT EXPANDED OUR UNDERSTANDING OF FUNDAMENTAL MARINE ECOLOGICAL PROCESSES LIKE CARBON FLUX AND SEQUESTRATION, ANIMAL BEHAVIOR AND BIODIVERSITY CHANGE OVER TIME. THE EXPEDITION SURVEYED DEEP WATERS IN AND OFFSHORE WITHIN KELP AND BENTHIC COMMUNITIES IN MASFJORDEN AND SOGNEFJORDEN. 2023 AZORES MISSION RESEARCHERS FROM THE UNIVERSITY OF AZORES, OKEANOS JOINED OREF FOR A RESEARCH-FOCUSED EXPEDITION EXPLORING AND MAPPING THE DEEP SEA, MESOPELAGIC, AND PELAGIC ENVIRONMENTS SURROUNDING SEAMOUNTS IN THE AZORES. USING MULTIDISCIPLINARY APPROACHES, THE MISSION FILLED KNOWLEDGE GAPS IN THE REGION, IMPROVING HABITAT MAPPING, AND VISITING AND EXPLORING PREDICTED VULNERABLE MARINE ECOSYSTEMS, SUCH AS HYDROTHERMAL VENTS, CORALS, FISH, DEEP-SEA SHARKS, AND SHARK'S EGGS/NURSERIES. 2023 YEP IV THE YOUNG EXPLORER'S PROGRAM IS AN EDUCATIONAL PROGRAM INTENDED TO EXPOSE STUDENTS WITH AN INTEREST IN THE OCEANS TO SCIENTIFIC EXPLORATION, SCIENCE COMMUNICATIONS AND VESSEL OPERATIONS. 17 STUDENTS WERE OFFERED HANDS-ON, REAL-WORLD EXPOSURE TO MARINE SCIENCE AND MEDIA ONBOARD OUR WORLD-CLASS RESEARCH VESSEL, THE OCEANXPLORER. THE PROGRAM HAS AN EMPHASIS ON STUDENTS AND EDUCATORS FROM UNDERREPRESENTED GROUPS. 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. UAE SCIENCE OREF, IN COLLABORATION WITH THE ENVIRONMENT AGENCY OF ABU DHABI, IN A FIRST-OF-ITS-KIND MAPPING OF THE UAE'S OCEAN ENVIRONMENT AND CONDUCTED A MAJOR FISHERIES ASSESSMENT. THE MISSION'S WORK WILL CONTRIBUTE TO INFORMED DECISION MAKING FOR THE SUSTAINABLE MANAGEMENT OF THE OCEANS WHILE EMPOWERING LOCAL FISHERY PRACTICES AROUND THE UAE.
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/ExplanationTxt5DRAFT 990 TO BE REVIEWED BY THE PRESIDENT AND ASSISTANT SECRETARY PRIOR TO FILING.
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 7,452,507. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,452,507. MARINE EQUIPMENT MANAGEMENT FEES: PROGRAM SERVICE EXPENSES 1,818,058. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,818,058. CONSULTING: PROGRAM SERVICE EXPENSES 1,661,323. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,661,323. OTHER MANAGEMENT FEES: PROGRAM SERVICE EXPENSES 1,505,432. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,505,432. ADMINISTRATIVE: PROGRAM SERVICE EXPENSES 487,594. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 487,594.
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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART IX, LINE 11G
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt0OCEANOGRAPHIC RESEARCH & EXPLORATION FOUNDATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt1OCEANOGRAPHIC RESEARCH & EXPLORATION FOUNDATION
IRS990ScheduleR/IdDisregardedEntitiesGrp/DirectControllingEntityName/BusinessNameLine1Txt2GREENWICH MARITIME SERVICES LTD
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt0OCEANX MEDIA LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt1GREENWICH MARITIME SERVICES LLC
IRS990ScheduleR/IdDisregardedEntitiesGrp/DisregardedEntityName/BusinessNameLine1Txt2MARINE 1 LLC
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IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt1173698856
IRS990ScheduleR/IdDisregardedEntitiesGrp/EndOfYearAssetsAmt22278805
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileForeignCountryCd0CJ
IRS990ScheduleR/IdDisregardedEntitiesGrp/LegalDomicileStateCd0NY

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