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Ocean Exploration Trust Inc

EIN 83-0488383 · New London, CT

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

LegitimacyPassesRegistration and standingFinancial healthGood81 out of 100GovernanceStrong100 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

SEE SCHEDULE O

Income
$19.3 million
Spending
$16.5 million
Spent on programs
80%
Reserves
3.4 months of spending
Largest source of income
government grants, 63%
Employees
19
Volunteers
60
Highest pay
$669,456, president

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: 81 out of 100. Higher than 52% of charities in its peer group (environment, $10m to $100m).

  • Reserves

    20 of 35

    Spendable reserves would cover 3.4 months of spending.

  • Debt

    16 of 20

    It owes 19% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 14% of income.

  • Income trend

    15 of 15

    Income rose 29% on the year before.

  • Spending floor

    15 of 15

    80% of spending went to programs and raising each dollar of donations cost 1 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 35% of charities in its peer group (environment, $10m to $100m).

  • Independent board

    25 of 25

    12 of 13 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 (1)
  1. $13.3 million spent. SEE SCHEDULE OIN 2024, E/V NAUTILUS SUCCESSFULLY COMPLETED AN 8-MONTH FIELD SEASON CONSISTING OF 11 MULTI-DISCIPLINARY EXPEDITIONS THAT EXPLORED THE PACIFIC FOR A TOTAL OF 163 DAYS AT SEA. THE 2024 SEASON BEGAN WITH A SHAKE DOWN EXPEDITION IN HAWAII TO PREPARE FOR THE FIELD WORK AHEAD, FOLLOWED BY OTHERS CENTERED ON SUPPORTING MAINTENANCE OF THE OCEAN NETWORKS CANADA CABLED OBSERVATORY, SEAFLOOR MAPPING ACROSS THE NORTH AND CENTRAL PACIFIC, MULTI-VEHICLE EXPLORATIONS IN AMERICAN SAMOA, ROV EXPLORATIONS OF THE PALAU NATIONAL MARINE SANCTUARY, AND DEPLOYMENTS OF MULTIPLE ROBOTIC ASSETS TO STUDY THE PHYSICAL OCEANOGRAPHY AROUND THE PALAUAN ISLANDS. COLLECTIVELY, 2024 EXPEDITIONS MAPPED OVER 150,000 SQUARE KILOMETERS OF SEAFLOOR, COMPLETED 62 SUCCESSFUL ROV DIVES, 61 DEPLOYMENTS OF OTHER VEHICLES, AND ENGAGED MANY MILLIONS OF VIEWERS AROUND THE WORLD. EXPEDITIONS IN 2024 WERE FUNDED BY NOAA OCEAN EXPLORATION VIA THE OCEAN EXPLORATION COOPERATIVE INSTITUTE, OCEAN NETWORKS CANADA,NOAA UNCREWED SYSTEMS OPERATION CENTER, BUREAU OF OCEAN ENERGY MANAGEMENT, AND OFFICE OF NAVAL RESEARCH. THROUGHOUT THE PLANNING AND EXECUTION OF EXPEDITIONS, THE OCEAN EXPLORATION TRUST WORKED CLOSELY WITH GOVERNMENT AGENCIES AND THE SCIENTIFIC COMMUNITY TO ENSURE THAT EXPEDITION ACTIVITIES ADDRESS SCIENCE AND MANAGEMENT PRIORITIES. EXPEDITIONS TOOK ADVANTAGE OF E/V NAUTILUS TELEPRESENCE CAPABILITIES AND INCLUDED EXTENSIVE EDUCATION AND OUTREACH ACTIVITIES TO REACH AUDIENCES OF ALL AGES.

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 September 2008.

    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.