Explorocean in Newport Beach, California (CA)

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Explorocean
Employer Identification Number (EIN)953867036
Name of OrganizationExplorocean
In Care of NameJ Robert Meserve
Address600 East Bay Avenue, Newport Beach, CA 92661-1347
ActivitiesMuseum, zoo, planetarium, etc., Art exhibit, Other cultural or historical activities
SubsectionCharitable Organization
Ruling Date11/1984
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2012
Assets$10,000,000 to $49,999,999
Income$1,000,000 to $4,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$21,492,104
Amount of Income$3,001,401
Form 990 Revenue Amount$1,148,203
National Taxonomy of Exempt Entities (NTEE)Arts, Culture and Humanities: History Museums


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Amount of income in 2012: $3,001,401
This organization: 

 $3,001,401
Other organizations performing similar types of work: 

 $163,197

Assets in 2012: $21,492,104
Explorocean: 

 $21,492,104
Other organizations performing similar types of work: 

 $731,051

Expenses in 2001: $935,349
Explorocean: 

 $935,349
Other organizations performing similar types of work: 

 $2,006,514

Income to expenses ratio in 2001: -0.2
This organization: 

 -0.2
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2001: 60.6%
This organization: 

 60.6%
Other organizations performing similar types of work: 

 70.0%

Number of employees in 2001: 13
This organization: 

 13
Other organizations performing similar types of work: 

 51

Employees paid over $50,000 in 2001: 7.7%
This organization: 

 7.7%
Other organizations performing similar types of work: 

 8.3%

Grants share in income in 2001: -178.7%
Explorocean: 

 -178.7%
Other organizations performing similar types of work: 

 56.2%

Financial snapshot ($)

Revenue for 2001

Assets at end of 2001

Expenses for 2001

Functional Expenses for 2001 ($)

Income-Producing Activities for 2001

Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001
Total revenue$1,923,978$-141,793
Contributions, gifts, grants, and similar amounts received$2,220,142$253,343
Contributions to donor advised funds
Direct public support$2,220,142$253,343
Indirect public support$0$0
Government contributions (grants)$0$0
Program service revenue including government fees and contracts$0$0
Membership dues and assessments$82,077$74,664
Interest on savings and temporary cash investments$0$0
Dividends and interest from securities$621,740$260,945
Net rental income or (loss)$0$0
Gross rents$51,211$34,004
Less: rental expenses$51,211$34,004
Other investment income$0$0
Gain or (loss) from sales of assets other than inventory$-1,021,909$-749,454
Gross amount from sales of assets other than inventory$0$0
Less: cost or other basis and sales expenses$1,021,909$749,454
Net income or (loss) from special events and activities$4,821$9,782
Gross revenue$38,135$82,706
Less: direct expenses other than fundraising expenses$33,314$72,924
Gross profit or (loss) from sales of inventory$17,107$8,927
Gross sales of inventory, less returns and allowances$30,163$22,852
Less: cost of goods sold$13,056$13,925
Other revenue$0$0
Total expenses$856,691$935,349
Program services$569,528$567,213
Management and general$259,962$337,977
Fundraising$27,201$30,159
Payments to affiliates$0$0
Net assets or fund balances at end of year$11,606,329$10,586,333
Excess or (deficit) for the year$1,067,287$-1,077,142
Net assets or fund balances at beginning of year$10,539,042$11,606,329
Other changes in net assets or fund balances$0$57,146
Statement of Functional Expenses (for 2001)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$935,349$567,213$337,977$30,159
Grants paid from donor advised funds
Other grants and allocations$4,500
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$48,244$28,946$14,474$4,824
Compensation of former officers, directors, key employees, etc.
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Salaries and wages of employees not included above$287,770$132,377$146,848$8,545
Pension plan contributions not included above$4,518$4,518$0$0
Employee benefits not included above$24,775$16,956$7,442$377
Payroll taxes$15,201$0$14,032$1,169
Professional fundraising fees$0$0$0$0
Accounting fees$39,580$0$39,580$0
Legal fees$730$0$730$0
Supplies$11,010$8,808$2,202$0
Telephone$6,517$5,214$1,303$0
Postage and shipping$5,737$3,442$1,721$574
Occupancy$20,853$17,085$3,768$0
Equipment rental and maintenance$102,612$80,414$22,198$0
Printing and publications$4,362$3,881$481$0
Travel$0$0$0$0
Conferences, conventions, and meetings$597$597$0$0
Interest$479$0$479$0
Depreciation, depletion, etc.$108,534$86,827$21,707$0
Other expenses not covered above$249,330$173,648$61,012$14,670
Balance Sheets
20002001
Total assets$11,663,348$10,623,144
Cash - non-interest-bearing$130,174$209,287
Savings and temporary cash investments$88,883$42,758
Accounts receivable less allowance for doubtful accounts$1,554$2,103
Pledges receivable less allowance for doubtful accounts$0$0
Grants receivable$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)
Other notes and loans receivable less allowance for doubtful accounts$0$0
Inventories for sale or use$13,809$40,494
Prepaid expenses and deferred charges$289,025$241,871
Investments - publicly-traded securities
Investments - other securities$8,523,528$7,479,270
Investments - land, buildings, and equipment less accumulated depreciation$0$0
Investments - other$1,405,169$0
Land, buildings, and equipment less accumulated depreciation$1,211,206$2,607,361
Other assets, including program-related investments$0$0
Total liabilities$57,019$36,811
Accounts payable and accrued expenses$28,995$36,811
Grants payable$0$0
Deferred revenue$0$0
Loans from officers, directors, trustees, and key employees$0$0
Tax-exempt bond liabilities$0$0
Mortgages and other notes payable$28,024$0
Other liabilities$0$0
Total liabilities and net assets/fund balances$11,663,348$10,623,144
Total net assets or fund balances$11,606,329$10,586,333
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001
Total revenue$1,923,978$109,233
Total revenue, gains, and other support per audited financial statements$2,021,559$-11,620
Other expenses$0$0
Net unrealized gains on investments$0$0
Donated services and use of facilities$0$0
Recoveries of prior year grants$0$0
Other$0$0
Other revenue$-97,581$120,853
Investment expenses$0$0
Other$-97,581$120,853
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001
Total expenses$856,691$887,523
Total expenses and losses per audited financial statements$954,272$1,008,376
Other revenue$97,581$120,853
Donated services and use of facilities$0$0
Prior year adjustments$0$0
Losses$0$0
Other$97,581$120,853
Other expenses$0$0
Investment expenses$0$0
Other$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings0
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?
Does the organization have a written conflict of interest policy?
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?No
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?
Did the organization acquire a direct or indirect interest in any applicable insurance contract?
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?
Number of employees employed in the pay period that includes March 12, 200613
Analysis of Income-Producing Activities (for 2001)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$-395,136
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$74,664
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$000$0$260,945
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$-749,454
Net income or (loss) from special events000000$000$0$9,782
Gross profit or (loss) from sales of inventory000000$000$0$8,927
Other revenue000000$000$0$0
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2001)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2001)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$56,966$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2001)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isOrganization that normally receives: less than 1/3 of its support from gross investment income and unrelated taxable business income and more than 1/3 of its support from contribution, membership fees
Support Schedule
19992000
Total$1,333,803$2,992,257
Gifts, grants, and contributions received$133,218$2,220,142
Membership fees received$95,335$82,077
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$33,756$68,298
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$1,071,494$621,740
Net income from unrelated business activities not included above$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0
Other income$0$0
Lobbying Expenditures by Electing Public Charities (for 2001)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$1,410,388
Contributions, Gifts, Grants and Other Similar Amounts$1,277,708
Program Service Revenue$21,453
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$211,856
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental loss$-252,642
Gross rents (Real / Personal)$617,047 / $0
Less: rental expenses (Real / Personal)$869,689 / $0
Rental income or (loss) (Real / Personal)$-252,642 / $0
Net gain from sales of assets other than inventory$157,607
Gross amount from sales of assets other than inventory (Securities / Other)$2,253,785 / $0
Less: cost or other basis and sales expenses (Securities / Other)$2,093,720 / $2,458
Gain or (loss) (Securities / Other)$160,065 / $-2,458
Net loss from fundraising events$-10,205
Gross income from fundraising events$0
Less: direct expenses$10,205
Net income from gaming activities$0
Net income from sales of inventory$4,611
Gross sales of inventory, less returns and allowances$10,444
Less: cost of goods sold$5,833
Miscellaneous Revenue$0
Statement of Functional Expenses (for 2011)
Total functional expenses$1,655,198
Compensation of current officers, directors, trustees, and key employees$227,818
Other salaries and wages$197,209
Payroll taxes$61,807
Professional fundraising services$38,746
Other$1,129,618
Balance Sheet (for 2011)
Total assets$22,798,359
Total liabilities$6,516,453
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$6,390,029
Unsecured notes and loans payable to unrelated third parties$0
Other$126,424
Total net assets or fund balances$16,281,906
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975
Support Schedule for Organizations Described in Section 509(a)(2) (for 2011)
2007 - 2011 Total
Total support$16,208,060
Gifts, grants, contributions, and membership fees received$10,762,732
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose$165,017
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975$5,280,311
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$754,275$1,025,007$2,707,327
Gross receipts or sales less returns and allowances$6,731$0$0
Cost of goods sold$13,971$0$0
Gross profit$53,341$0$5,334
Capital gain net income$0$0$0
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$0$0$0
Rent income$74,894,171$1,025,007$2,760,667
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$0$0$0
Other income$0$0$0
Deductions Not Taken Elsewhere (for 2008)
Total deductions$0
Compensation of officers, directors, and trustees$0
Salaries and wages$0
Repairs and maintenance$0
Bad debts$0
Interest$0
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$0
Excess exempt expenses$0
Excess readership costs$0
Other deductions$0
Unrelated business taxable income$270,732
Unrelated business taxable income before net operating loss deduction$270,732
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$270,732
Specific deduction$1,000
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Henry E Huntington Library & Art Gallery1151 Oxford Rd, San Marino, CA 91108-1218CA1938-05$141,267,158
2Computer History Museum1401 N Shoreline Blvd, Mountain View, CA 94043-1311CA1999-07$34,867,247
3The Richard Nixon Foundation18001 Yorba Linda Blvd, Yorba Linda, CA 92886-3903CA1983-08$28,262,842
4Simon Wiesenthal Center1399 S Roxbury 2nd Fl, Los Angeles, CA 90035-4709CA1987-01$27,353,651
5Autry National Center Of The American West4700 Western Heritage Way, Los Angeles, CA 90027-1462CA1985-03$17,314,273
6Explorocean600 East Bay Avenue, Newport Beach, CA 92661-1347CA1984-11$3,001,401
7Bay Area Electric Railway Association5848 State Highway 12, Suisun City, CA 94585-9741CA1965-06$2,292,215
8Namm Foundation5790 Armada Dr, Carlsbad, CA 92008-4608CA1999-07$555,123
9Feather River Rail SocietyPO BOX 608, Portola, CA 96122-0608CA1984-01$231,689
10Marin History Museum1125 B St, San Rafael, CA 94901-2907CA1972-12$73,165
11California Trolley And Railroad Corporation, Ctrc None210 N 4th St 4th Floor, San Jose, CA 95112CA1983-01$48,098
12Aircraft Carrier Hornet FoundationPier 3 Alameda Point, Alameda, CA 94501CA1995-12$2,829,826
13Palm Springs Air Museum Inc745 N Gene Autry Trl, Palm Springs, CA 92262-5464CA1994-05$2,149,931
14Council On American-Islamic Relations Calilfornia2180 W Crescent Ave Ste F, Anaheim, CA 92801-3842CA1996-04$2,009,884
15Hiller Aviation Institute601 Skyway Rd, San Carlos, CA 94070-2702CA1995-07$1,844,629
16History San Jose1650 Senter Rd, San Jose, CA 95112-2599CA1972-09$1,572,529
17Sonoma County Museum Foundation425 7th St, Santa Rosa, CA 95401-5202CA1978-09$1,441,363
18Napa Valley MuseumPO BOX 3567, Yountville, CA 94599-3567CA1973-11$1,426,061
19Richmond Museum Assn Inc400 Nevin Ave, Richmond, CA 94801-3017CA1970-10$1,339,344
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Number of organizations performing similar types of work
Alaska6
Alabama16
Arkansas13
Arizona10
California72
Colorado16
Connecticut7
District of Columbia3
Delaware4
Florida22
Georgia13
Hawaii5
Iowa10
Idaho5
Illinois26
Indiana20
Kansas12
Kentucky15
Louisiana10
Massachusetts26
Maryland17
Maine6
Michigan18
Minnesota16
Missouri13
Mississippi3
Montana11
North Carolina22
North Dakota4
Nebraska10
New Hampshire9
New Jersey15
New Mexico3
Nevada3
New York55
Ohio32
Oklahoma11
Oregon11
Pennsylvania39
Rhode Island6
South Carolina9
South Dakota6
Tennessee13
Texas60
Utah5
Virginia35
Vermont5
Washington12
Wisconsin13
West Virginia3
Wyoming6
Total782

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