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Bermuda Institute of Ocean Sciences Bios Inc

EIN 06-0706038 · Bermuda

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthWeak49 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

BIOS'S MISSION IS TO SEEK AND SHARE FUNDAMENTAL KNOWLEDGE OF THE OCEANS THROUGH STATE-OF-THE-ART SCIENTIFIC RESEARCH, WORLD-CLASS FIELD EXPEDITIONS, AND COMPREHENSIVE EDUCATIONAL EXPERIENCES.

Income
$16.9 million
Spending
$18.0 million
Spent on programs
88%
Reserves
-4.8 months of spending
Largest source of income
government grants, 57%
Employees
29
Volunteers
0
Highest pay
$1.2 million, trustee

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Weak: 49 out of 100. Higher than 18% of charities in its peer group (science, $10m to $100m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    20 of 20

    It owes 5% of what it owns.

  • Living within its means

    4 of 15

    Spending exceeded income by 7% of income.

  • Income trend

    10 of 15

    Income fell 6% on the year before.

  • Spending floor

    15 of 15

    88% of spending went to programs and raising each dollar of donations cost 2 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Strong: 100 out of 100. Higher than 49% of charities in its peer group (science, $10m to $100m).

  • Independent board

    25 of 25

    13 of 18 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    8 of 8

    Has a written whistleblower policy.

  • Record keeping policy

    7 of 7

    Has a written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $13.7 million spent. SCIENTIFIC RESEARCH: THE BERMUDA INSTITUTE OF OCEAN SCIENCES (BIOS) CONDUCTS MULTIDISCIPLINARY OCEANOGRAPHIC RESEARCH FOCUSED ON THE WATERS SURROUNDING BERMUDA AND THE BROADER GLOBAL EARTH SYSTEM. BIOS'S SCIENTIFIC PROGRAMS SPAN BIOLOGICAL, CHEMICAL, GEOLOGICAL, AND PHYSICAL OCEANOGRAPHY, WITH AN EMPHASIS ON UNDERSTANDING OCEAN ECOSYSTEMS AND THEIR FUNCTION. IN ADDITION TO ITS FLAGSHIP BERMUDA ATLANTIC TIME-SERIES STUDY (BATS), ONE OF THE LONGEST-RUNNING OCEAN TIME-SERIES PROGRAMS IN THE WORLD, BIOS SUPPORTS A RANGE OF OTHER RESEARCH INITIATIVES. THESE INCLUDE STUDIES ON CORAL REEF ECOLOGY, OCEAN BIOGEOCHEMISTRY, MICROBIAL OCEANOGRAPHY, AND THE DEVELOPMENT OF AUTONOMOUS OCEAN OBSERVING TECHNOLOGIES. TOGETHER, THESE PROGRAMS CONTRIBUTE TO ADVANCING SCIENTIFIC KNOWLEDGE AND ADDRESSING KEY QUESTIONS IN OCEAN SCIENCE. IN 2024, BATS ACHIEVED THE FOLLOWING: * PUBLISHED OVER 30 PEER-REVIEWED SCIENTIFIC PAPERS ADVANCING OCEANOGRAPHIC KNOWLEDGE * SUPPORTED MORE THAN 50 NATIONAL AND INTERNATIONAL COLLABORATORS ACROSS ACADEMIA AND RESEARCH INSTITUTIONS * PROVIDED OPEN-ACCESS OCEANOGRAPHIC DATA TO THOUSANDS OF RESEARCHERS GLOBALLY, FACILITATING BROAD SCIENTIFIC ENGAGEMENT AND DISCOVERY SHIP OPERATIONS ARE CENTRAL TO BIOS'S RESEARCH MISSION. THE R/V ATLANTIC EXPLORER ENABLES LONG-TERM DATA COLLECTION AND SUPPORTS MULTI-INSTITUTIONAL EXPEDITIONS. IN 2024, THE VESSEL COMPLETED 203 SEA DAYS BEFORE ENTERING SCHEDULED SHIPYARD MAINTENANCE IN DECEMBER. IN 2025, BIOS HAS SECURED FUNDING FOR 223 SEA DAYS, WITH OPERATIONS RESUMING IN Q1 FOLLOWING THE VESSEL'S RETURN TO SERVICE. THESE ACTIVITIES DIRECTLY SUPPORT BIOS'S EXEMPT PURPOSE BY CONTRIBUTING TO THE GLOBAL SCIENTIFIC UNDERSTANDING OF OCEAN SYSTEMS, FOSTERING COLLABORATIVE RESEARCH, AND DISSEMINATING KNOWLEDGE FOR PUBLIC BENEFIT.
  2. $2.2 million spent. EDUCATION: EDUCATION IS A CORE COMPONENT OF BIOS'S MISSION, DIRECTLY LINKING OCEANOGRAPHIC RESEARCH TO HANDS-ON LEARNING OPPORTUNITIES FOR STUDENTS IN BERMUDA AND INTERNATIONALLY. BIOS CONDUCTS A RANGE OF EDUCATIONAL PROGRAMS ANNUALLY THAT PREPARE STUDENTS FOR FUTURE SCIENTIFIC AND TECHNICAL CHALLENGES. IN 2024, BIOS'S OCEAN ACADEMY PROGRAM SERVED 2,479 LOCAL STUDENTS AND TEACHERS, OFFERING YEAR-ROUND EXPERIENTIAL LEARNING AND PROFESSIONAL DEVELOPMENT FOR BERMUDA'S GRADE-SCHOOL EDUCATORS. UNIVERSITY-LEVEL PROGRAMMING INCLUDED TWO SUMMER COURSES, RESEARCH INTERNSHIPS, AND A FALL SEMESTER PROGRAM, COLLECTIVELY HOSTING 85 STUDENTS FROM THE US, UK, CANADA, AND OTHER COUNTRIES. THESE PROGRAMS PROVIDED SPECIALIZED INSTRUCTION AND PRACTICAL RESEARCH EXPERIENCE IN BOTH LABORATORY AND FIELD SETTINGS. BIOS ALSO HOSTED 8 EVENING EDUCATION GROUPS FROM ROAD SCHOLAR INC., TOTALING 184 PARTICIPANTS, AND WELCOMED 19 EDUCATIONAL EXPEDITION GROUPS IN 2024, COMPRISING 354 STUDENTS AND INSTRUCTORS AND RESULTING IN 2,604 BED NIGHTS. THESE INITIATIVES SUPPORT BIOS'S EXEMPT PURPOSE BY ADVANCING OCEAN LITERACY, FOSTERING ACADEMIC ACHIEVEMENT, AND PROMOTING SCIENTIFIC RESEARCH AS A TOOL FOR UNDERSTANDING THE NATURAL WORLD.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since October 1947.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.