Sea Research Foundation
55 Coogan Blvd
Mystic CT 06355-1927
Contact Information
Address 55 Coogan Blvd
Mystic, CT 06355-1927
Telephone (860) 572-5955 x
Fax 860-572-5973
E-mail info@searesearch.org
Web and Social Media
Mission
To inspire people to care for and protect our ocean planet through education, research, and exploration.
At A Glance
Year of Incorporation 1973
Organization's type of tax exempt status Public Supported Charity
Organization received a competitive grant from the community foundation in the past five years No
Leadership
CEO/Executive Director Stephen M. Coan Ph.D.
Board Chair Dr. George M. Milne Jr.
Board Chair Company Affiliation Senior Partner, Radius Venture LLC
Financial Summary
 
Projected Revenue $17,306,302.00
Projected Expenses $14,585,575.00
Statements
Mission
To inspire people to care for and protect our ocean planet through education, research, and exploration.
Background

Sea Research Foundation (Sea Research), best known in the public arena for Mystic Aquarium, supports a living collection of more than 12,000 marine mammals, fish, and invertebrates. But Sea Research encompasses significantly more than just the Aquarium, through internationally-known education projects, deep ocean expeditions, animal rescue and rehabilitation operations, extensive scientific research studies, and conservation-focused public and research initiatives. Through our animals, education programs and conservation efforts, Sea Research exposes hundreds of thousands of people to the importance of protecting our oceans and investigating the mysteries of science.

Sea Research encompasses the Institute for Exploration, home to renowned explorer, Dr. Robert D. Ballard, and is one of the only organizations in the world conducting ongoing mapping and investigations of the largely uncharted oceans around the globe. It is also home to the JASON Project and Immersion Learning, international science, technology, engineering and mathematics programs serving 2 million students around the world annually.

Mystic Aquarium presents its marine animals in exhibits that replicate natural habitats to the greatest extent possible. The Institute for Exploration’s remarkable geophysical and historical discoveries are dramatically exhibited alongside the animal-based exhibits of Mystic Aquarium on our Mystic, CT campus. Dr. Ballard’s worldwide deep sea research is complemented by Sea Research Foundation’s important marine animal science programs, also based at our Mystic facility. Sea Research is the largest provider of informal science programs to CT school children, serving over 100,000 students annually through on-site classroom experiences at the Aquarium and outreach in nearly every community in CT.

Impact

Sea Research Foundation is comprised of three distinct yet interconnected divisions: Mystic Aquarium, the Institute for Exploration, and Immersion Learning. Through these divisions, we bring the wonders of the oceans to people across the country and around the world. Mystic Aquarium allows visitors to get an up-close look at many marine animals, including beluga whales, sea anemones, and Stellar sea lions. Dr. Robert Ballard’s Institute for Exploration delves into the deep oceans, discovering ancient shipwrecks, little known geological phenomena, and the roots of human civilization. Immersion Learning brings together the entertaining aspects of the Aquarium with the deep-sea expeditions of the Institute to lead at-risk students across the country toward careers in math, science, and technology.

Education

Each year, our education programs reach 600,000 children locally and nationally. Our Traveling Teacher program engages students in Connecticut and Rhode Island, teaching them about their local marine environment through hands-on experiences. Immersion Learning is a national program distributed through the Boys & Girls Clubs of America that reaches nearly half a million children every year. 

Research

As a leader in the aquarium research community, Sea Research Foundation has made significant advances in marine science. Our ongoing Research program enables us to study animals in controlled environments and natural habitats.  These projects help us learn more about each species, so we can give them the best care possible, or help in the rescue, rehabilitation and release of stranded animals back into the wild.

Exploration
 
The Institute for Exploration is a pioneer in deep ocean archaeology. Constant advances in technology make this exploration possible and also allow us to share discoveries with historians and archaeologists around the globe. Our in-depth exhibit hall showcases the discoveries of Dr. Ballard and his team, while Immersion Learning broadcasts expeditions live to students across the country.
Needs

Sea Research Foundation invites you to take action by sharing in our mission. One of the most significant ways for doing so is by making a charitable gift. Your support is needed to help us:

- Immerse a new generation and make a difference for at-risk youth with The JASON Project, Immersion Learning, and the many educational program offerings at Mystic Aquarium.

- Further a Connecticut institution. Promote environmental understanding and conservation by supporting our programming and research.

- Make a difference, one creature at a time. Help us rescue stranded marine animals by supporting our Marine Mammal and Sea Turtle Stranding Program.

- Open up new depths of learning by supporting the work of Dr. Robert D. Ballard and the Institute for Exploration.

CEO Statement

Sea Research Foundation had a watershed year in 2011. We began the year having recently signed off on a major debt restructure. We shed $15 million of long-term debt, which fundamentally improved everything about our financial platform. Our annual debt service fell by 50 percent, which allows us to function better and invest our resources more wisely in programming and in our capital infrastructure.

We also raised $11 million, a record amount for this organization. We’re grateful to all who are supporting our comprehensive campaign. We’re proud that every member of our board of trustees and a record number of our employees, over 40 percent, participated in the campaign.

During 2011, we took over the management of The JASON Project from National Geographic Society. This is a key opportunity for our organization. It strengthens our Immersion Learning program, which is already well-regarded and serving many kids nationally, and brings together our after-school and in-school STEM (science, technology, engineering and math) programming.

STEM education is important to economic development. In the state of Connecticut, for example, it’s been noted by many that there is no shortage of jobs. There are thousands of jobs available, but not enough people with the appropriate qualifications—STEM training and competency—to fill those jobs. This is a significant gap and Sea Research plays a role in helping to bridge that gap.

Biological research, particularly with marine mammals, is also a major component of our institution. We made major investments in this area during 2011 and will continue to do so going forward. Biological and marine science research is critically important to how we understand our oceans and the waterways that feed into them, and it’s a primary part of our mission to inspire people to care about the oceans.

As we come into 2012, we anticipate continued growth in earned income and stability in grant funding, despite the economic challenges. We’re confident that we will see stability and continued growth on the philanthropic side as well. People want to invest in a winner and Sea Research Foundation is a winning organization all around.

Dr. Stephen M. Coan

President & CEO

Sea Research Foundation

Board Chair Statement

I’ve been engaged with Sea Research Foundation for more than 15 years. The reason I’ve stayed engaged and am more passionate now than ever is not just because of Sea Research’s ability to make a difference, but the scope and magnitude of that difference. This is a major aquarium coupled with a worldwide exploration center of international acclaim. It’s a research institution that contributes to conservation and research efforts on a global basis, whether in South Africa or the North Slope of Alaska. It’s a place where young people can come not only to be entertained, but to be intrigued and get that spark of interest in exploring the world around them from a scientific perspective.

Sea Research builds on the incredible exploration potential of Bob Ballard and our scientific research to create an institution that reaches not only young children through its Sea School program, but also through The JASON Project, which reaches some 2 million children annually.

Over the last decade we have made dramatic progress in building Sea Research’s leadership. We’ve reduced our debt load and now we’re building toward the future. This is about creating new exhibitry and enhancing Mystic Aquarium’s year-round appeal. It’s about bringing in new capabilities, such as JASON, to add to our national perspective, prospect and vision. We intend to use our exploration research, scientific research and worldwide learning expertise to shape this into an institution which is not only a great place to visit, but also a contributor to conservation efforts on a worldwide basis and a key part of the answer to how we’re going to energize young people’s enthusiasm for scientific education worldwide.

The young people of today are going to be the stewards of our ocean planet and it’s critical that they learn about those values —including the exciting geological discoveries you can make under the sea, the marine mammals that are endangered but need to be preserved, and the unique species that exist under our ocean surface—and gain respect for the world we live in at a time when our populations will continue to grow and the pressure on natural resources will continue to increase. It is essential that we not only understand these things, but learn to love and appreciate them.

George Milne

Chairman of the Board

Sea Research Foundation

Service Categories
Primary Organization Category Environment / Environmental Education
Secondary Organization Category Environment / Environmental Education
Tertiary Organization Category Science & Technology / Biological, Life Science Research
Areas Served
Throughout the United States
New Haven
Ansonia
Bethany
Branford
Cheshire
Derby
East Haven
Guilford
Hamden
Lower Naugatuck Valley
Madison
Milford
North Branford
North Haven
Orange
Oxford
Seymour
Shelton
Shoreline
State wide
Wallingford
West Haven
Woodbridge
Other
Sea Research Foundation's Mystic Aquarium is located in Mystic, Connecticut, and serves as a resource to Southeastern Connecticut. The Immersion Learning division is national in scope, serving locales in over 40 states.
Programs
Description
Open year-round, guests love Mystic Aquarium's indoor/outdoor campus and eye-to-eye contact with mairine animals. A pioneer in fun, hands-on learning, we inspire and enlighten guests of all ages with unfortgettable opportunities to tap into the joys and wonders of our ocean planet. 
 
For over 750,000 annual visitors, Mystic Aquarium features hands-on, interactive content with extraordinary exhibits such as:
  • The Roger Tory Peterson Exhibit, home to 29 African penguins
  • The Arctic Coast Exhibit, featuring the only beluga whales in New England
  • Daily shows featuring California sea lions
  • Ray and shark encounter pools, where visits can touch these graceful sea creatures
  • The United Technologies Ocean Exploration Center, displaying photos, videos, and technologies from the deep-ocean explorations of Dr. Robert Ballard.
Through exhibits and special events, Mystic Aquarium feeds youth's curiosity and gives families ample reason to roll up their sleeves and make a difference.
Population Served General/Unspecified / /
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state.

Mystic Aquarium was founded in 1973 to serve as a living laboratory and major public exhibit highlighting intriguing species of the aquatic world. Today, with over 750,000 visitors annually, the Aquarium remains committed to its mission of inspiring people to care for and protect our ocean planet through education, research, and exploration. By constantly looking for innovative and engaging ways to inspire and involve the general public in conservation efforts, Mystic Aquarium continues to build upon its founding mission.

Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success.
2011 Milestones and Achievements include:
 
AZA Reaccreditation
In March, the Association of Zoos and Aquariums (AZA) reaccredited Mystic Aquarium for a four-year term. AZA accreditation is the highest possible recognition a living animal institution can achieve. Fewer than 10% of the approximately 2,400 animal exhibitors licensed by the United States Department of Agriculture are AZA accredited.
 
Animal Rescue Program
In August, an eight-inch, three-pound, Kemp's ridley turtle, one of hte most critically endangered sea turtle species, was found upside down in a pile of seaweed in Narragansett, Rhode Island. The family who found the turtle removed a nine-inch fishing lure that was attached to its cheek and called Mystic Aquarium's Stranding Hotline for help. Though most stranded sea turtles are deceased when found, the aquarim's animal rescue team brought this survivor back to health and later released him in North Carolina.
Description
Nature never equipped ocean dwelling creatures to withstand human-engineered threats such as pollution, climate change, oil and gas exploration, excessive harvesting, entanglement and shipping traffic. So how do these stressors affect marine animal health? What is the impact on their immune system? What are the implications for human health?

 
Sea Research Foundation’s aquatic research team explores these critical questions by studying many species, including beluga whales and endangered African penguins. From our in-house research, we create baseline profiles of robust animal health that we compare to wild populations —from the High Arctic to the Cape of South Africa—to assess potential problems, illuminate pressing issues and validate concerns many like-minded citizens, scientists and organizations share. Through these efforts, Sea Research works to accelerate meaningful environmental conservation and preserve the diversity of species for generations to come.
Population Served / /
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Short Term SuccessHelpOrganizations describe near term achievement(s) or improvement(s) that will result from this program. This may represent immediate outcomes occurring as a result of the end of a session or service.

George and Carol Milne Research Center
Scheduled to break ground in 2013, the George and Carol Milne Research Center will ensure the continued success of our comprehensive research program and strategic plan. Funded in part with a $1 million gift from the Milnes, this 6,000 square foot Center will fully integrate water quality, veterinary care and biological research functions under one roof, enhancing and expanding the workspace available to our researchers and providing dedicated educational program space for students of all ages.

Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state. The Scientific Advisory Council formed in 2011 created a new strategic plan; the components—to build a new research center, secure grants, form partnerships and hire scientists—are well underway. Council participants include luminaries from academia, other aquariums, corporations and Sea Research Foundation’s Board of Trustees.
Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success.
2011 Milestones and Accomplishments include:
  • Sea Research formalized relations with SANCCOB (Southern African Foundation for the Conservation of Coastal Birds), an internationally recognized leader in rehabilitation, environmental education and protection of endangered African penguins and other seabirds.
  • Together with the University of Connecticut and the Milford, CT, NOAA laboratory, Sea Research scientists mentor UConn Ph.D. students who conduct research in the field of ocean and human health at Mystic Aquarium. Sea Research is one of only four consortia chosen nationwide.
  • A $190,000 education and research grant from the North Slope Borough, Alaska mayor’s office to advance beluga research in Point Lay, Alaska, and stimulate native students’ and the community’s excitement about science and beluga biology.
  • A $158,000 grant from NOAA, through Skidaway Institute of Oceanography, to continue a 12-year study of a marine protected area in Stellwagen Bank National Marine Sanctuary.
Description
Kids are eager to soak up new ideas when you pique their curiosity and let them dive into real world investigation. Sea Research Foundation gives kids their fill with fun, challenging, interactive programs that invite imagination and inquiry. Our formal and informal education programs:

• Strengthen kids’ interest and success in STEM education and career choices.
• Narrow the achievement gap, are inclusive of special needs and at-risk kids, and raise the academic bar for K-12 students.
• Promote care for our ocean planet.
 
Mystic Aquarium, The JASON Project and Immersion Learning, Sea Research’s three education entities, spur the accomplishments and broaden the horizons for over 2 million kids each year across more than 170 countries —a critical step to creating a worldwide conservation ethic in the next generation. Locally in Connecticut, we reach thousands of children in at-risk communities such as New Haven, New Britain, New London, Norwich, East Hartford, and Manchester.
Population Served K-12 (5-19 years) / At-Risk Populations / Poor,Economically Disadvantaged,Indigent
Program is linked to organization’s mission and strategy Yes
Program is frequently assessed based on predetermined program goals Yes
Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success.

2011 Achievements:

 

Mystic Aquarium’s school and camp programs promote ocean literacy, while conservation events foster environmental stewardship.

  • $100,000 in grants brought the sea to urban youth in Connecticut and Rhode Island.
  • A new community initiative taught local special needs students work and life skills.
  • 18,000 people participated in ocean health conservation events.

 

The JASON Project’s award-winning classroom programs provide pathways to STEM content. Interactive live events and robust online platform place students in real-world situations.

  • JASON’s E/VNautiluslabs and curricula reached an estimated 400,000 students.
  • 21,000 viewers participated in the live webcasts with ocean explorers Robert Ballard and Katy Croff Bell.

Immersion Learning’s fun, hands-on activities, interactive website, and live events bring the thrill of scientific discovery to youth.

  • The US Department of Justice awarded $1,000,000 to implement Immersion at 14 Boys & Girls Clubs nationwide.
Description
The deep sea is the largest museum on Earth. Within its cold dark waters lay secrets untold: glorious creatures, wondrous habitats, natural phenomenon and sunken remnants of human history. Unlocking their mysteries and sharing the discoveries is at the heart of Sea Research Foundation’s exploration mission.
Dr. Robert Ballard, widely known for discovering the Titanic, captains our deep-sea exploration program through the Institute for Exploration (IFE). From aboard E/V Nautilus, he and his team of scientists and technology experts use state-of-the-art telepresence technology to enable real-time expedition participation for millions of scientists, educators, students and fascinated fans worldwide. E/V Nautilus’ field season lasts only a few months each summer, but global outreach—through film, education, digital media and more—is year-round. These combined efforts ignite interest and kindle the Sea Research ethic to respect, conserve and protect our oceans.
Population Served / /
Long Term SuccessHelpOrganizations describe the ultimate change(s) that will result from this program. This may be far into the future and represent an ideal state.

In partnership with Ocean Exploration Trust, University of Rhode Island, NOAA Office of Ocean Exploration and Research, and National Geographic Society, IFE advances our mission through deep-sea discovery, education and outreach technology.

Examples of Program SuccessHelpOrganization's site specific examples of changes in clients' behaviors or testimonies of client's changes to demonstrate program success.

2011 Achievements

 

Dr. Ballard and his team investigated the Black, Mediterranean and Aegean Seas and Eastern Atlantic regions. Their discoveries included:

  • A supersaturated level of CO2 inside a submerged volcanic cone in the Aegean Sea, which, if erupted, could imperil nearby Greek islands.
  • Gas seeps off the coast of Israel, which could possibly be tapped to ease the nation’s foreign oil dependence.

Since 2009, Dr. Ballard and his team have reached an estimated 14 million people worldwide through outreach programs. A platform for lifelong learning, E/VNautilusincludes K-12 education programs that feature virtual field trips and over-the-shoulder views of real-time discoveries and spark youth’s interest in STEM. In 2011:

  • 19 educators-at-sea explained findings, the science behind the discoveries, and life aboard ship to people worldwide.
  • 29,000 guests participated in live and post expedition presentations at Mystic Aquarium’s Nautilus Live Theater.
CEO/Executive Director
Stephen M. Coan Ph.D.
Term Start Jan 2008
Email info@searesearch.org
Experience

Dr. Stephen M. Coan is President and Chief Executive Officer of Sea Research Foundation, the parent organization of JASON. Dr. Coan has served as Executive Director of two educational organizations, held faculty appointments at Tufts University, Bentley College and Cambridge College. He earned his bachelor’s degree from Brandeis University, and both a master’s in Management degree and a doctorate in social policy from the Heller Graduate School at Brandeis.

Staff
Number of Full Time Staff 139
Number of Part Time Staff 142
Number of Volunteers 290
Staff Retention Rate 73%
Staff Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 259
Hispanic/Latino 0
Native American/American Indian 0
Other 22 0
Staff Demographics - Gender
Male 119
Female 162
Unspecified 0
Formal Evaluations
CEO Formal Evaluation Yes
CEO/Executive Formal Evaluation Frequency Annually
Senior Management Formal Evaluation Yes
Senior Management Formal Evaluation Frequency Annually
Non Management Formal Evaluation Yes
Non Management Formal Evaluation Frequency Annually
Awards
Award/RecognitionOrganizationYear
Excellence in Diversity AwardAssociation of Zoos and Aquariums2012
4-Star CharityCharity Navigator2011
Board Chair
Dr. George M. Milne Jr.
Company Affiliation Senior Partner, Radius Venture LLC
Term Dec 2010 to Dec 2013
Board of Directors
NameAffiliation
Robert D. Ballard President, Institute for Exploration
Peter Barr Glenville State College
Gerard N. Burrow Chairman, University of Connecticut Medical Center
Rodney Butler Chairman, Mashantucket Pequot Tribal Nation
Jim Calhoun University of Connecticut Basketball
Stephen M. Coan Ph.D.President & Chief Executive Officer, Sea Research Foundation, Inc.
Bruce Cummings President & Chief Executive Officer, Lawrence & Memorial Hospital
Daniel Domenech American Association of School Administrators
Peter G. Drakos Partner, Coastal Connect, LLC
Terry D. Garcia Executive Vice President, Mission Programs, National Geographic Society
Charles D. Gill Senior Vice President & General Counsel, United Technologies Corporation
Alfredo Gutierrez Community Volunteer
Jack Heflin Heflin Properties
John Holstein Principal & Chief Executive Officer, First H & M Corporation
Timothy Kane Goodway Technologies Corp.
Carolyn Kelly Attorney, Suisman, Shapiro Attorneys-At-Law
Deborah Kochevar D.V.M., Ph.D.Cummings School of Veterinary Medicine at Tufts University
Thomas Leiden President & Chief Executive Officer, The Leiden Cabinet Company
Jerrold T. Lundquist Director, McKinsey & Company
Carleen Lyden-Kluss North American Marine Environmental Protection Association
Guy E.C. Maitland Managing Partner, International Registries, Inc.
Thomas Mosey President & Chief Executive Officer, Mini Melts, Inc.
Jamie O'Connell Maritime & Corp. Admin of Republic of Marshall Island
Steve Perrelli General Manager, Coca-Cola Bottling Company of Southeastern New England
Stephan Salem Executive Director, Cal Ripkin, Sr. Foundation
Howard F. Stirn No Affiliation
Susette Tibus President, Simply Majestic
Daniel C. Verdier President & Ownder, Cirrus Construction Company, Inc.
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 25
Hispanic/Latino 0
Native American/American Indian 0
Other 4 More than 1 race
Board Demographics - Gender
Male 24
Female 5
Governance
Board Term Lengths 3
Written Board Selection Criteria No
Written Conflict of Interest Policy Yes
Percentage Making Monetary Contributions 87%
Standing Committees
Finance
Audit
Capital Campaign
Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
Education
Executive
Human Resources / Personnel
Marketing
Nominating
 
 
Financials
Fiscal Year Start Jan 01 2012
Fiscal Year End Dec 31 2012
Projected Revenue $17,306,302.00
Projected Expenses $14,585,575.00
Spending Policy N/A
Credit Line Yes
Reserve Fund No
Documents
Form 990s
SRF 9902010
SRF 9902009
SRF 9902008
Audit Documents
2011 Audit2011
2010 Audit2010
2009 Audit2009
IRS Letter of Exemption
IRS Tax Exempt Documentation
Detailed Financials
Prior Three Years Total Revenue and Expense Totals ChartHelpFinancial data for prior years is entered by foundation staff based on the documents submitted by nonprofit organizations.Foundation staff members enter this information to assure consistency in the presentation of financial data across all organizations.
Fiscal Year201120102009
Total Revenue$27,248,803$20,686,997$18,525,742
Total Expenses$26,697,794$22,712,083$22,594,448
Prior Three Years Revenue Sources ChartHelpThe financial analysis involves a comparison of the IRS Form 990 and the audit report (when available) and revenue sources may not sum to total based on reconciliation differences. Revenue from foundations and corporations may include individual contributions when not itemized separately.
Fiscal Year201120102009
Foundation and
Corporation Contributions
$4,261,589$1,142,763$1,289,441
Government Contributions$7,009,770$5,404,528$4,238,288
Federal------
State------
Local------
Unspecified$7,009,770$5,404,528$4,238,288
Individual Contributions------
------
$12,320,496$12,866,379$11,913,240
Investment Income, Net of Losses$125,234$70,941($60,903)
Membership Dues------
Special Events$91,807$43,150$212,031
Revenue In-Kind------
Other$3,439,907$1,159,263$933,645
Prior Three Years Expense Allocations Chart
Fiscal Year201120102009
Program Expense$22,544,255$19,458,467$18,229,883
Administration Expense$2,925,327$2,733,738$3,676,877
Fundraising Expense$1,228,212$519,878$687,688
Payments to Affiliates------
Total Revenue/Total Expenses1.020.910.82
Program Expense/Total Expenses84%86%81%
Fundraising Expense/Contributed Revenue11%8%12%
Prior Three Years Assets and Liabilities Chart
Fiscal Year201120102009
Total Assets$54,970,080$57,085,073$59,436,616
Current Assets$6,811,885$4,237,556$3,113,077
Long-Term Liabilities$21,098,279$23,757,556$24,228,151
Current Liabilities$3,573,326$3,512,221$3,386,862
Total Net Assets$30,298,475$29,815,296$31,821,603
Prior Three Years Top Three Funding Sources
Fiscal Year201120102009
Top Funding Source & Dollar Amount -- -- --
Second Highest Funding Source & Dollar Amount -- -- --
Third Highest Funding Source & Dollar Amount -- -- --
Solvency
Short Term Solvency
Fiscal Year201120102009
Current Ratio: Current Assets/Current Liabilities1.911.210.92
Long Term Solvency
Fiscal Year201120102009
Long-Term Liabilities/Total Assets38%42%41%
Comments
CEO Comments
For the last two fiscal years, Sea Research Foundation has had budget deficits that largely result from debt payments and property and equipment depreciation. During FY2011, Sea Research Foundation replaced its $32 million bond debt with a $19 million bank loan, thus reducing its annual debt-related cash outlays by approximately 50 percent. Additionally, there
is a matching opportunity to further reduce the remaining debt by $9 million. Sea Research Foundation continues to work toward further debt reduction, and these revisions have significantly strengthened our financial platform. Charity Navigator recently rated Sea Research Foundation as an Exceptional Charity, awarding all four possible stars. In earning Charity Navigator's highest four star rating, Sea Research has demonstrated exceptional financial health, outperforming most of its peers in its efforts to manage and grow its finances in the most fiscally-responsible way possible.
 
Endowment: Spending policy is per board or donor designation.
 
 
Foundation Staff Comments This profile, including the financial summaries prepared and submitted by the organization based on its own independent and/or internal audit processes and regulatory submissions, has been read by the Foundation. Financial information is inputted by Foundation staff directly from the organization’s IRS Form 990, audited financial statements or other financial documents approved by the nonprofit’s board. The Foundation has not audited the organization’s financial statements or tax filings, and makes no representations or warranties thereon. The Community Foundation is continuing to receive information submitted by the organization and may periodically update the organization’s profile to reflect the most current financial and other information available. The organization has completed the fields required by The Community Foundation and updated their profile in the last year. To see if the organization has received a competitive grant from The Community Foundation in the last five years, please go to the General Information Tab of the profile.
Address 55 Coogan Blvd
Mystic, CT 063551927
Primary Phone 860 572-5955
Contact Email info@searesearch.org
CEO/Executive Director Stephen M. Coan Ph.D.
Board Chair Dr. George M. Milne Jr.
Board Chair Company Affiliation Senior Partner, Radius Venture LLC

 

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