National Marine Sanctuary Foundation

“The form 990 was prepared by the outside accountants and reviewed by senior management. The audit committee also discussed and reviewed the return in conjunction with the outside accountants. It was then sent to the full board prior to filing with the irs.”

“The organization requires each director, principal officer and member of a committee with board delegated powers to annually sign a statement which affirms that such person has received, understands, and complied with the organization's conflict of interest policy. In the event that a conflict or potential conflict of interest is discovered, the board or committee members, except for those interested persons, review the circumstances of the conflict or potential conflict of interest and determine the appropriate course of action which serves the best interest of the organization. The board's or committee's determination includes a presentation from the interested persons, but excludes the interested persons from participating in the board's or committee's discussion and voting regarding the transaction or agreement which resulted in the conflict of interest or the potential conflict of interest. The foundation staff annually signs a statement affirming receipt of the conflict of interest policy and must refrain from any activity which creates a conflict of interest. The policy is described in the personnel policy handbook and is more restrictive than the board policy described above.”

“The board of trustees of the foundation has concluded that the executive committee is the most appropriate body to review and approve executive compensation. This policy is designed to be consistent with information requested on the form 990 and also consistent with internal revenue codes "excess benefit transaction" rules. The policy on the process for determining compensation of the foundation applies to the compensation of the following persons employed by the foundation: the foundation's chief employed executive (the ceo/president) and other compensated officers and key employees of the foundation (if any). The last review took place in december 2023. The process includes all of these elements: (1) review and approval by the board of directors or the compensation committee of the foundation; (2) use of data on comparable compensation; and (3) contemporaneous documentation and recordkeeping, as follows: 1. Review and approval: the compensation of the person is reviewed and approved by the executive committee, provided that persons with conflicts of interest with respect to the compensation arrangement at issue are not involved in this review and approval. 2. Use of data as to comparable compensation: the compensation of the person is reviewed and approved using data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated organizations. 3. Contemporaneous documentation and recordkeeping: there is contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement.”

“The 1023 form is available upon request; and the 990 are available on the the foundation's website, and on charity information websites.”

“The governing documents and conflict of interest policy are available upon request; and financial statements are available on the the foundation's website and on charity information websites.”

“Commercial diving & salvage: program service expenses 8,175,172. Management and general expenses 250. Fundraising expenses 0. Total expenses 8,175,422. Research oceanography & marine biology: program service expenses 602,370. Management and general expenses 0. Fundraising expenses 0. Total expenses 602,370. Environmental consulting & technology: program service expenses 448,312. Management and general expenses 1,200. Fundraising expenses 0. Total expenses 449,512. Adtech: program service expenses 0. Management and general expenses 245,549. Fundraising expenses 100,250. Total expenses 345,799. Translation services: program service expenses 227,887. Management and general expenses 0. Fundraising expenses 0. Total expenses 227,887. Business management: program service expenses 110,134. Management and general expenses 81,329. Fundraising expenses 25,805. Total expenses 217,268. Exhibits: program service expenses 162,600. Management and general expenses 0. Fundraising expenses 0. Total expenses 162,600. Curriculum development: program service expenses 152,123. Management and general expenses 0. Fundraising expenses 0. Total expenses 152,123. Maintenance: program service expenses 104,274. Management and general expenses 5,590. Fundraising expenses 0. Total expenses 109,864. Other consulting fee: program service expenses 2,674,519. Management and general expenses 119,107. Fundraising expenses 4,008. Total expenses 2,797,634.”