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Gloucester Marine Genomics Institute Incorporated

EIN 46-3020006 · Gloucester, MA

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

LegitimacyPassesRegistration and standingFinancial healthGood85 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

GLOUCESTER MARINE GENOMICS INSTITUTE'S MISSION IS TO ADDRESS CRITICAL CHALLENGES IN OCEAN HEALTH, HUMAN HEALTH, AND THE ENVIRONMENT THROUGH INNOVATIVE MARINE BIOTECHNOLOGY RESEARCH AND TRANSFORMATIVE SCIENCE EDUCATION. BY COMBINING WORLD-CLASS GENOMICS RESEARCH WITH WORKFORCE DEVELOPMENT PROGRAMS, THE ORGANIZATION AIMS TO REVITALIZE GLOUCESTER'S ECONOMY AND BUILD A THRIVING LIFE SCIENCES COMMUNITY.

Income
$9.9 million
Spending
$5.8 million
Spent on programs
74%
Reserves
3.9 months of spending
Largest source of income
donations and private grants, 90%
Employees
48
Volunteers
89
Highest pay
$269,636, executive director

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

Good: 85 out of 100. Higher than 63% of charities in its peer group (science, $1m to $10m).

  • Reserves

    20 of 35

    Spendable reserves would cover 3.9 months of spending.

  • Debt

    20 of 20

    It owes 14% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 41% of income.

  • Income trend

    15 of 15

    Income rose 74% on the year before.

  • Spending floor

    15 of 15

    74% of spending went to programs and raising each dollar of donations cost 5 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 68% of charities in its peer group (science, $1m to $10m).

  • Independent board

    25 of 25

    10 of 10 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. $2.6 million spent. RESEARCH - GMGI OPERATES A WORLD-CLASS MARINE BIOTECHNOLOGY RESEARCH INSTITUTE IN A PURPOSE-BUILT LABORATORY ON GLOUCESTER HARBOR WHERE THE SCIENCE TEAM PURSUES RESEARCH BASED ON ADVANCED GENOMIC METHODOLOGIES AND ANALYSIS TOOLS. RESEARCHERS ADDRESS QUESTIONS RELATED TO TWO MAIN PROGRAM AREAS: HEALTHY OCEANS AND FISHERIES AND MARINE BIOMEDICAL DISCOVERY. MARINE GENOMICS REPRESENTS A NEW EPOCH IN BOTH MARINE SCIENCE AND BIOTECHNOLOGY AND GMGI IS LEADING THE WAY. GMGI BENEFITS FROM PARTNERSHIPS WITH WORLD-CLASS ORGANIZATIONS INCLUDING LEADING FOUNDATIONS, UNIVERSITIES, AND FEDERAL AND STATE AGENCIES, AND FOCUSES ON TRANSLATIONAL RESEARCH THAT CONNECTS DIRECTLY TO THE VEXING MODERN CHALLENGES OF FISHERIES MANAGEMENT AND CLIMATE CHANGE AS WELL AS DERIVING NEW APPROACHES TO CANCER AND AGING FROM OCEAN RESOURCES.
  2. $1.7 million spent. BIOTECHNOLOGY ACADEMY - GMGI'S VIBRANT SCIENCE LEARNING ENVIRONMENT, THE GLOUCESTER BIOTECHNOLOGY ACADEMY ("ACADEMY"), PREPARES YOUNG ADULTS TO BECOME CERTIFIED LABORATORY TECHNICIANS THROUGH A PROPRIETARY 9-MONTH PROGRAM THAT INCLUDES SIX MONTHS OF HANDS-ON TRAINING FOLLOWED BY A THREE-MONTH PAID INDUSTRY INTERNSHIP. THE LAB-IMMERSION CURRICULUM IN OUR STATE-OF-THE-ART FACILITIES ENJOYS GRADUATION AND CAREER PLACEMENT RATES THAT OUTPACE VOCATIONAL AND COMMUNITY COLLEGE NORMS NATIONWIDE AND HAS RECENTLY EXPANDED TO INCLUDE THE TOPICS OF CELL CULTURE AND BIOMANUFACTURING. THE ORGANIZATION OFFERS ITS CERTIFICATE PROGRAM TUITION-FREE FOR ALL STUDENTS IN THE ACADEMY. THE ACADEMY ALSO OFFERS HANDS-ON, STEM ENRICHMENT PROGRAMMING TO MIDDLE SCHOOL AND HIGH SCHOOL STUDENTS THROUGHOUT THE YEAR, PROVIDING AWARENESS, ACCESS AND EDUCATION ON THE THRIVING LIFE SCIENCES AND BIOTECH FIELDS TO PRIMARILY UNDERSERVED STUDENTS IN COMMUNITIES ON THE NORTH SHORE AND IN BOSTON.

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 September 7, 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 September 30, 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 September 10, 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 September 7, 2026.

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

    Recognized by the IRS since October 2014.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 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 7, 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.