Overview
What is Marine Technology Society Inc?
Marine Technology Society Inc, based in Washington D.C., functions as a nonprofit organization with a primary goal of promoting and advancing marine technology. They achieve this by hosting annual regional, local, and international conferences, as well as offering complementary webinars, all centered around ocean-related topics. The society's mission extends beyond conferences, aiming to enhance the dissemination of marine technology information and improve related educational programs. Furthermore, they strive to advance the development of necessary tools and procedures for exploring and responsibly utilizing the oceans. With a modest team of four individuals, Marine Technology Society Inc contributes to the broader understanding of marine technology's relevance to global issues.
Official website here: www.mtsociety.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 100% (Four-Star out of Four Star rating)
The Marine Technology Society Inc has achieved a perfect score of 100%, earning it a prestigious Four-Star rating from Charity Navigator. This rating signifies a high level of accountability and financial transparency, as the score is based entirely on its performance in the Accountability & Finance category.
Strengths of the organization include its commitment to governance, demonstrated by a wholly independent board of ten members and excellent scores in various financial oversight metrics. The organization has shown no material diversion of assets, maintains necessary policies such as conflict of interest and whistleblower policies, and has consistently transparent financial reporting practices, including posting its tax forms on its website.
Despite its strong performance, potential donors should remain mindful of the program expense ratio, which stands at 72.50%. While this indicates a significant portion of funds is directed toward programs, it's always prudent to consider how effectively those funds are utilized in achieving the organization's mission. Overall, the Marine Technology Society Inc exemplifies a well-managed nonprofit with commendable fiscal responsibility and governance practices.
This AI summary has been generated from information found on Charity Navigator.
Is Marine Technology Society Inc legitimate?
Marine Technology Society Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Marine Technology Society 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: $292,680
Professional Fundraising Fees: $0
Other Salaries and Wages: $753,618
For more financial information, click here
Official website here: www.mtsociety.org
What is the mission statement of Marine Technology Society Inc?
The Marine Technology Society Inc's mission is focused on promoting the awareness, understanding, and advancement of marine technology. They strive to enhance the dissemination of marine technology information and facilitate a broader understanding of its relevance to global issues. Additionally, they aim to improve marine technology and related educational programs and advance the development of tools and procedures required for ocean exploration and sustainable use.
Official website here: www.mtsociety.org
Who is the CEO of Marine Technology Society Inc?
Christopher Ostrander is the CEO of Marine Technology Society Inc The CEO's salary of Marine Technology Society Inc is $210,143 and their total compensation is $242,313.
Official website here: www.mtsociety.org
What is the revenue of Marine Technology Society Inc?
Marine Technology Society Inc's revenue in 2024 was $5,367,102.
Official website here: www.mtsociety.org
Who are the executives of Marine Technology Society Inc and what are their salaries?
The average compensation at Marine Technology Society Inc during 2024 was $116,255. There are 9 employees and 165 volunteers at Marine Technology Society Inc.
Here are 14 key members and their salaries (Marine Technology Society Inc's CEO's salary is $210,143 and their total compensation is $242,313):
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- Compensation: $210,143
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- Other: $32,170
- Compensation: $126,877
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- Other: $6,655
Official website here: www.mtsociety.org
Where can I find the form 990 for Marine Technology Society Inc?
Marine Technology Society Inc's most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.mtsociety.org
Learn more at the official website: www.mtsociety.org
Mission Statement of Marine Technology Society Inc
Marine Technology Society Inc, a notable organization, is committed to promoting the recognition, comprehension, and progression of marine technology. Their primary mission is threefold. Firstly, they aim to foster a broader understanding of marine technology's relevance to global issues by enhancing the dissemination of related information. This initiative encourages a wider appreciation of marine technology's impact on various aspects of society.
Secondly, Marine Technology Society Inc is dedicated to improving and supporting marine technology-related educational programs. Their goal is to nurture the development of these programs, ensuring they remain current and relevant. This commitment to education is instrumental in preparing future generations to navigate the complexities of marine technology.
Lastly, the organization strives to advance the development of the necessary tools and procedures for exploring, studying, and responsibly utilizing the oceans. This objective underscores their commitment to sustainable marine practices, ensuring the preservation of marine ecosystems for future generations. In essence, Marine Technology Society Inc is dedicated to championing marine technology, fostering education, and promoting sustainable ocean use.
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Impact
July, 2024
Marine Technology Society Inc's impact lies in promoting awareness, understanding, advancement, and application of marine technology. By organizing annual regional, local, and international conferences on ocean and marine technology-related matters, as well as offering free webinars, MTS facilitates a broader understanding of the relevance of marine technology to global issues. Through its mission to improve marine technology and related educational programs, MTS contributes to the development of tools and procedures necessary for exploring, studying, and promoting the responsible and sustainable use of the oceans.
This information is meant to be a general summary of Marine Technology Society 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 2024.
- Investment Income: $170,432
- Program Service Revenue: $2,678,719
- Gross Receipts: $6,466,632
Assets and Liabilities:
- Total Assets: $7,132,686
- Total Liabilities: $456,960
- Net Assets: $6,675,726
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Conferences and meetings
Revenue
$2,196,583
MATE ROV competition
Revenue
$214,344
Membership dues
Revenue
$139,501
Consulting revenue
Revenue
$98,044
Publications and Journals
Revenue
$25,055
Organization Details
Founding Year
1963
Principal Officer
Chris Ostrander
Website
www.mtsociety.orgNTEE Category
Code: U21Z - Science research
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