Overview
What is The Global Foundation For Ocean Exploration Inc?
The Global Foundation for Ocean Exploration Inc, based in Mystic, Connecticut, is a nonprofit organization dedicated to advancing deep-sea exploration. They specialize in the design, engineering, and development of submersible vehicles, equipment, and telepresence systems, as well as sampling capabilities for government-owned underwater robots. After resuming operations post-COVID-19, they conducted seven expeditions in the Atlantic Ocean off the U.S. East Coast. Their mission is to equip the global underwater science community with the necessary tools and expertise to delve into the deepest corners of the Earth's oceans, uncovering awe-inspiring discoveries for a worldwide audience. With a team of three dedicated individuals, they contribute to the advancement of marine research and exploration.
Official website here: www.engineeringfordiscovery.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 89% (Three-Star out of Four Star Rating)
The Global Foundation for Ocean Exploration Inc. has earned a commendable Three-Star rating from Charity Navigator, reflecting a strong commitment to accountability and financial health. The overall score, derived entirely from its accountability measures, showcases the organization's transparency and effective governance practices, notably through its majority independent board and comprehensive financial audits.
The nonprofit demonstrates exceptional financial management, with a program expense ratio of nearly 98%, indicating that almost all of its funds are directed towards its mission-related activities. The organization has also established robust policies for conflict of interest, whistleblowing, and document retention, all of which contribute to a culture of integrity and responsible management.
No significant limitations were noted in the data, although the rating is based solely on the accountability and finance components, suggesting that there may be limited information available regarding programmatic impact or effectiveness. Overall, The Global Foundation for Ocean Exploration appears to be a well-managed organization focused on its mission.
This AI summary has been generated from information found on Charity Navigator.
Is The Global Foundation For Ocean Exploration Inc legitimate?
The Global Foundation For Ocean Exploration Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Global Foundation For Ocean Exploration Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $476,262
Professional Fundraising Fees: $0
Other Salaries and Wages: $113,999
For more financial information, click here
Official website here: www.engineeringfordiscovery.org
What is the mission statement of The Global Foundation For Ocean Exploration Inc?
The Global Foundation for Ocean Exploration Inc's mission is to empower the global underwater science community by providing them with the necessary tools and expertise. This enables researchers to explore the deepest parts of the planet's largest and deepest bodies of water, with the aim of making groundbreaking discoveries that captivate and inspire a global audience. Their activities include the advancement of deep-submergence vehicles, equipment, and telepresence systems, as well as the design, engineering, and development of sampling capabilities for government-owned underwater robots. They conduct major ocean exploration expeditions and train filmmakers and engineers. Following the lifting of COVID-19 restrictions in April 2021, the foundation resumed its at-sea and shoreside operations, conducting seven expeditions in the Atlantic Ocean off the U.S. East Coast.
Official website here: www.engineeringfordiscovery.org
Who is the CEO of The Global Foundation For Ocean Exploration Inc?
David Lovalvo is the President of The Global Foundation For Ocean Exploration Inc.
Official website here: www.engineeringfordiscovery.org
What is the revenue of The Global Foundation For Ocean Exploration Inc?
The Global Foundation For Ocean Exploration Inc's revenue in 2022 was $5,107,205.
Official website here: www.engineeringfordiscovery.org
Who are the executives of The Global Foundation For Ocean Exploration Inc and what are their salaries?
The average compensation at The Global Foundation For Ocean Exploration Inc during 2022 was $196,754. There are 3 employees and 2 volunteers at The Global Foundation For Ocean Exploration Inc.
Here are 4 key members and their salaries:
- Compensation: $298,342
- Related: $0
- Other: $0
- Compensation: $177,920
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.engineeringfordiscovery.org
Where can I find the form 990 for The Global Foundation For Ocean Exploration Inc?
The Global Foundation For Ocean Exploration Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.engineeringfordiscovery.org
Learn more at the official website: www.engineeringfordiscovery.org
Mission Statement of The Global Foundation For Ocean Exploration Inc
The Global Foundation for Ocean Exploration, Inc., is committed to empowering the global underwater science community. Their mission is to equip this community with the necessary tools and expertise required to delve into the deepest depths of the planet's largest and deepest bodies of water. By doing so, they aim to uncover astonishing discoveries that can captivate and inspire a global audience. This organization's primary objective is to advance deep-submergence vehicles, equipment, and telepresence systems, including the design, engineering, and development of sampling capabilities for government-owned underwater robots. In addition, they conduct major ocean exploration expeditions, train filmmakers and engineers to document and share these discoveries with the world. Post-COVID-19 restrictions, the foundation resumed its operations, conducting seven at-sea expeditions in the Atlantic Ocean off the U.S. East Coast. During the winter, they also performed maintenance and preparation on their remotely operated vehicles and other equipment, anticipating their 2022 operations.
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Impact
July, 2024
The Global Foundation For Ocean Exploration Inc, through its activities, empowers the global underwater science community by advancing deep submergence vehicles, equipment, and telepresence systems. They conduct major ocean exploration expeditions, train filmmakers and engineers, and provide sampling capabilities for government-owned underwater robots. Their impact is reflected in the discoveries made during their expeditions that both amaze and inspire a global audience. In 2021, after COVID restrictions were lifted, they resumed their operations and conducted seven at-sea expeditions in the Atlantic Ocean off the U.S. East Coast. This organization is dedicated to pushing the boundaries of underwater exploration and scientific research.
This information is meant to be a general summary of The Global Foundation For Ocean Exploration Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $58
- Gross Receipts: $5,107,205
Assets and Liabilities:
- Total Assets: $2,377,435
- Total Liabilities: $306,512
- Net Assets: $2,070,923
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Organization Details
Founding Year
2012
Phone
(860) 572-7979Principal Officer
David Lovalvo
Main Address
PO BOX 417, MYSTIC, CT, 06355
NTEE Category
Code: U21 - Science research
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