PALACIOS MARINE AGRICULTURAL RESEARCH INC: Form 990, tax year 2022

View the entire original 990 at ProPublica ↗

Organization: PALACIOS MARINE AGRICULTURAL RESEARCH INC (EIN 84-5079866)
Tax period: 2022-09-01 to 2023-08-31
Filed: 2024-03-26
IRS object ID: 202410869349300046
Schema version: 2022v5.0
Source: Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header
Form 990
Schedule A
Schedule B
Schedule D
Schedule I
Schedule J
Schedule O

Return header ReturnHeader

Field	Value	IRS element (for citing)
Return	2024-03-26T15:11:41-05:00	ReturnTs
Tax Period End	2023-08-31	TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Field	Value	IRS element (for citing)
Preparer Firm EIN	742520265	PreparerFirmEIN

Preparer Firm Name PreparerFirmName

Field	Value	IRS element (for citing)
Business Name Line1	COLLIER JOHNSON & WOODS PC	BusinessNameLine1Txt

Preparer US Address PreparerUSAddress

Field	Value	IRS element (for citing)
Address Line1	555 N CARANCAHUA SUITE 1000	AddressLine1Txt
City	CORPUS CHRISTI	CityNm
State Abbreviation	TX	StateAbbreviationCd
ZIP	784010839	ZIPCd

Field	Value	IRS element (for citing)
Return Type	990	ReturnTypeCd
Tax Period Begin	2022-09-01	TaxPeriodBeginDt

Filer Filer

Field	Value	IRS element (for citing)
EIN	845079866	EIN

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	PALACIOS MARINE AGRICULTURAL RESEARCH	BusinessNameLine1Txt
Business Name Line2	INC	BusinessNameLine2Txt

Field	Value	IRS element (for citing)
Business Name Control	PALA	BusinessNameControlTxt
Phone	3618819040	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	555 N CARANCAHUA SUITE 700	AddressLine1Txt
City	CORPUS CHRISTI	CityNm
State Abbreviation	TX	StateAbbreviationCd
ZIP	78401	ZIPCd

Business Officer BusinessOfficerGrp

Field	Value	IRS element (for citing)
Person	CLARK C FLATO	PersonNm
Person Title	BOARD CHAIRMAN	PersonTitleTxt
Phone	3618819040	PhoneNum
Signature	2024-03-19	SignatureDt
Discuss With Paid Preparer	Yes (1)	DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

Field	Value	IRS element (for citing)
Person First	CLARK	PersonFirstNm
Person Last	FLATO	PersonLastNm

Field	Value	IRS element (for citing)
SSN	999009999	SSN

Field	Value	IRS element (for citing)
IRS Responsible Prty Info Curr	0	IRSResponsiblePrtyInfoCurrInd

Preparer Person PreparerPersonGrp

Field	Value	IRS element (for citing)
Preparer Person	ROBERT TROY COOK	PreparerPersonNm
PTIN	P00822030	PTIN
Phone	3618849347	PhoneNum

Additional Filer Information AdditionalFilerInformation

Trusted Customer TrustedCustomerGrp

Field	Value	IRS element (for citing)
Trusted Customer	0	TrustedCustomerCd
Authentication Assurance Level	AAL1	AuthenticationAssuranceLevelCd
Identity Assurance Level	IAL1	IdentityAssuranceLevelCd

Field	Value	IRS element (for citing)
Tax	2022	TaxYr
Build TS	2023-04-26 12:10:37Z	BuildTS

Form 990 IRS990

Field	Value	IRS element (for citing)
Principal Officer	CLARK C FLATO	PrincipalOfficerNm

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	555 N CARANCAHUA ST 700	AddressLine1Txt
City	CORPUS CHRISTI	CityNm
State Abbreviation	TX	StateAbbreviationCd
ZIP	78401	ZIPCd

Field	Value	IRS element (for citing)
Gross Receipts	$6,202,069	GrossReceiptsAmt
Group Return For Affiliates	0	GroupReturnForAffiliatesInd
Organization501c3	Yes (X)	Organization501c3Ind
Website Address	WWW.PMARTEXAS.ORG	WebsiteAddressTxt
Type Of Organization Corp	Yes (X)	TypeOfOrganizationCorpInd
Formation	2020	FormationYr
Legal Domicile State	TX	LegalDomicileStateCd
Activity Or Mission	SEE SCHEDULE O	ActivityOrMissionDesc
Voting Members Governing Body	7	VotingMembersGoverningBodyCnt
Voting Members Independent	6	VotingMembersIndependentCnt
Total Employee	9	TotalEmployeeCnt
Total Volunteers	5	TotalVolunteersCnt
Total Gross UBI	$0	TotalGrossUBIAmt
Net Unrelated Bus Txbl Incm	$0	NetUnrelatedBusTxblIncmAmt
PY Contributions Grants	$2,450,908	PYContributionsGrantsAmt
CY Contributions Grants	$2,533,341	CYContributionsGrantsAmt
PY Program Service Revenue	$0	PYProgramServiceRevenueAmt
CY Program Service Revenue	$18,000	CYProgramServiceRevenueAmt
PY Investment Income	$29,824	PYInvestmentIncomeAmt
CY Investment Income	$33,217	CYInvestmentIncomeAmt
PY Other Revenue	$3,550	PYOtherRevenueAmt
CY Other Revenue	$56,141	CYOtherRevenueAmt
PY Total Revenue	$2,484,282	PYTotalRevenueAmt
CY Total Revenue	$2,640,699	CYTotalRevenueAmt
PY Grants And Similar Paid	$0	PYGrantsAndSimilarPaidAmt
CY Grants And Similar Paid	$729,438	CYGrantsAndSimilarPaidAmt
PY Benefits Paid To Members	$0	PYBenefitsPaidToMembersAmt
CY Benefits Paid To Members	$0	CYBenefitsPaidToMembersAmt
PY Salaries Comp Emp Bnft Paid	$736,412	PYSalariesCompEmpBnftPaidAmt
CY Salaries Comp Emp Bnft Paid	$967,057	CYSalariesCompEmpBnftPaidAmt
PY Total Prof Fndrsng Expns	$0	PYTotalProfFndrsngExpnsAmt
CY Total Prof Fndrsng Expns	$0	CYTotalProfFndrsngExpnsAmt
CY Total Fundraising Expense	$0	CYTotalFundraisingExpenseAmt
PY Other Expenses	$641,189	PYOtherExpensesAmt
CY Other Expenses	$1,137,928	CYOtherExpensesAmt
PY Total Expenses	$1,377,601	PYTotalExpensesAmt
CY Total Expenses	$2,834,423	CYTotalExpensesAmt
PY Revenues Less Expenses	$1,106,681	PYRevenuesLessExpensesAmt
CY Revenues Less Expenses	-$193,724	CYRevenuesLessExpensesAmt
Total Assets BOY	$4,022,660	TotalAssetsBOYAmt
Total Assets EOY	$4,161,718	TotalAssetsEOYAmt
Total Liabilities BOY	$44,611	TotalLiabilitiesBOYAmt
Total Liabilities EOY	$225,555	TotalLiabilitiesEOYAmt
Net Assets Or Fund Balances BOY	$3,978,049	NetAssetsOrFundBalancesBOYAmt
Net Assets Or Fund Balances EOY	$3,936,163	NetAssetsOrFundBalancesEOYAmt
Info In Schedule O Part III	Yes (X)	InfoInScheduleOPartIIIInd
Mission	SEE SCHEDULE O	MissionDesc
Significant New Program Srvc	0	SignificantNewProgramSrvcInd
Significant Change	0	SignificantChangeInd
Expense	$2,834,423	ExpenseAmt
Grant	$729,438	GrantAmt
Desc	SEE SCHEDULE O	Desc
Total Program Service Expenses	$2,834,423	TotalProgramServiceExpensesAmt
Described In Section501c3	Yes (1)	DescribedInSection501c3Ind
Schedule B Required	Yes (1)	ScheduleBRequiredInd
Political Campaign Acty	0	PoliticalCampaignActyInd
Lobbying Activities	0	LobbyingActivitiesInd
Subject To Proxy Tax	0	SubjectToProxyTaxInd
Donor Advised Fund	0	DonorAdvisedFundInd
Conservation Easements	0	ConservationEasementsInd
Collections Of Art	0	CollectionsOfArtInd
Credit Counseling	0	CreditCounselingInd
Donor Rstr Or Quasi Endowments	0	DonorRstrOrQuasiEndowmentsInd
Report Land Building Equipment	Yes (1)	ReportLandBuildingEquipmentInd
Report Investments Other Sec	0	ReportInvestmentsOtherSecInd
Report Program Related Invst	0	ReportProgramRelatedInvstInd
Report Other Assets	0	ReportOtherAssetsInd
Report Other Liabilities	Yes (1)	ReportOtherLiabilitiesInd
Include FIN48 Footnote	0	IncludeFIN48FootnoteInd
Independent Audit Fincl Stmt	0	IndependentAuditFinclStmtInd
Consolidated Audit Fincl Stmt	0	ConsolidatedAuditFinclStmtInd
School Operating	0	SchoolOperatingInd
Foreign Office	0	ForeignOfficeInd
Foreign Activities	0	ForeignActivitiesInd
More Than5000 K To Org	0	MoreThan5000KToOrgInd
More Than5000 K To Individuals	0	MoreThan5000KToIndividualsInd
Professional Fundraising	0	ProfessionalFundraisingInd
Fundraising Activities	0	FundraisingActivitiesInd
Gaming Activities	0	GamingActivitiesInd
Operate Hospital	0	OperateHospitalInd
Grants To Organizations	Yes (1)	GrantsToOrganizationsInd
Grants To Individuals	0	GrantsToIndividualsInd
Schedule J Required	Yes (1)	ScheduleJRequiredInd
Tax Exempt Bonds	0	TaxExemptBondsInd
Engaged In Excess Benefit Trans	0	EngagedInExcessBenefitTransInd
PY Excess Benefit Trans	0	PYExcessBenefitTransInd
Loan Outstanding	0	LoanOutstandingInd
Grant To Related Person	0	GrantToRelatedPersonInd
Business Rln With Org Mem	0	BusinessRlnWithOrgMemInd
Business Rln With Fam Mem	0	BusinessRlnWithFamMemInd
Business Rln With35 Ctrl Ent	0	BusinessRlnWith35CtrlEntInd
Deductible Non Cash Contri	0	DeductibleNonCashContriInd
Deductible Art Contribution	0	DeductibleArtContributionInd
Terminate Operations	0	TerminateOperationsInd
Partial Liquidation	0	PartialLiquidationInd
Disregarded Entity	0	DisregardedEntityInd
Related Entity	0	RelatedEntityInd
Related Organization Ctrl Ent	0	RelatedOrganizationCtrlEntInd
Trnsfr Exmpt Non Chrtbl Rltd Org	0	TrnsfrExmptNonChrtblRltdOrgInd
Activities Conducted Prtshp	0	ActivitiesConductedPrtshpInd
Schedule O Required	Yes (1)	ScheduleORequiredInd
IRP Document	13	IRPDocumentCnt
IRP Document W2 G	0	IRPDocumentW2GCnt
Backup Wthld Compliance	Yes (1)	BackupWthldComplianceInd
Employee	9	EmployeeCnt
Employment Tax Returns Filed	Yes (1)	EmploymentTaxReturnsFiledInd
Unrelated Bus Incm Over Limit	0	UnrelatedBusIncmOverLimitInd
Foreign Financial Account	0	ForeignFinancialAccountInd
Prohibited Tax Shelter Trans	0	ProhibitedTaxShelterTransInd
Taxable Party Notification	0	TaxablePartyNotificationInd
Nondeductible Contributions	0	NondeductibleContributionsInd
Quid Pro Quo Contributions	0	QuidProQuoContributionsInd
Form8282 Property Disposed Of	0	Form8282PropertyDisposedOfInd
Indoor Tanning Services	0	IndoorTanningServicesInd
Subj To Tax Rmnrtn Ex Prcht Pymt	0	SubjToTaxRmnrtnExPrchtPymtInd
Subject To Excs Tax Net Invst Inc	0	SubjectToExcsTaxNetInvstIncInd
Info In Schedule O Part VI	Yes (X)	InfoInScheduleOPartVIInd
Governing Body Voting Members	7	GoverningBodyVotingMembersCnt
Independent Voting Member	6	IndependentVotingMemberCnt
Family Or Business Rln	0	FamilyOrBusinessRlnInd
Delegation Of Mgmt Duties	0	DelegationOfMgmtDutiesInd
Change To Org Documents	0	ChangeToOrgDocumentsInd
Material Diversion Or Misuse	0	MaterialDiversionOrMisuseInd
Members Or Stockholders	0	MembersOrStockholdersInd
Election Of Board Members	0	ElectionOfBoardMembersInd
Decisions Subject To Approva	0	DecisionsSubjectToApprovaInd
Minutes Of Governing Body	Yes (1)	MinutesOfGoverningBodyInd
Minutes Of Committees	Yes (1)	MinutesOfCommitteesInd
Officer Mailing Address	0	OfficerMailingAddressInd
Local Chapters	0	LocalChaptersInd
Form990 Provided To Gvrn Body	Yes (1)	Form990ProvidedToGvrnBodyInd
Conflict Of Interest Policy	Yes (1)	ConflictOfInterestPolicyInd
Annual Disclosure Covered Prsn	Yes (1)	AnnualDisclosureCoveredPrsnInd
Regular Monitoring Enfrc	Yes (1)	RegularMonitoringEnfrcInd
Whistleblower Policy	Yes (1)	WhistleblowerPolicyInd
Document Retention Policy	Yes (1)	DocumentRetentionPolicyInd
Compensation Process CEO	Yes (1)	CompensationProcessCEOInd
Compensation Process Other	Yes (1)	CompensationProcessOtherInd
Investment In Joint Venture	0	InvestmentInJointVentureInd
Upon Request	Yes (X)	UponRequestInd

Books In Care Of Detail BooksInCareOfDetail

Business Name BusinessName

Field	Value	IRS element (for citing)
Business Name Line1	CLARK C FLATO	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
Phone	3618819040	PhoneNum

US Address USAddress

Field	Value	IRS element (for citing)
Address Line1	555 N CARANCAHUA ST 700	AddressLine1Txt
City	CORPUS CHRISTI	CityNm
State Abbreviation	TX	StateAbbreviationCd
ZIP	78401	ZIPCd

Form990 Part VII Section A Form990PartVIISectionAGrp (10 entries)

TitleTitleTxt	Average Hours Per WeekAverageHoursPerWeekRt	Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt	Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd	Reportable Comp From OrgReportableCompFromOrgAmt	Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt	Other CompensationOtherCompensationAmt	OfficerOfficerInd	Highest Compensated EmployeeHighestCompensatedEmployeeInd
JOE FOX
EXECUTIVE DIRECTOR	40.00	0.00	Yes (X)	$213,923	$0	$927
LARRY MCKINNEY
DIRECTOR	20.00	0.00	Yes (X)	$112,506	$0	$0
CLARK C FLATO
BOARD CHAIRMAN	8.00	0.00	Yes (X)	$0	$0	$0	Yes (X)
STEPHEN W ALTHEIDE
TREASURER	5.00	0.00	Yes (X)	$0	$0	$0	Yes (X)
DAVID HOYER
VICE CHAIRMAN	2.00	0.00	Yes (X)	$0	$0	$0	Yes (X)
JOHN J JOHNSON
SECRETARY	2.00	0.00	Yes (X)	$0	$0	$0	Yes (X)
DAVID F SUTTER
DIRECTOR	2.00	0.00	Yes (X)	$0	$0	$0
JOSE SEVILLA
ADVISORY DIRECTOR	2.00	0.00	Yes (X)	$0	$0	$0
KENNETH W TRAWICK
DIRECTOR	2.00	0.00	Yes (X)	$0	$0	$0
GAIL SUTTON
DIRECTOR OF OPERAT.	40.00	0.00		$139,068	$0	$1,051		Yes (X)

Field	Value	IRS element (for citing)
Total Reportable Comp From Org	$465,497	TotalReportableCompFromOrgAmt
Tot Reportable Comp Rltd Org	$0	TotReportableCompRltdOrgAmt
Total Other Compensation	$1,978	TotalOtherCompensationAmt
Indiv Rcvd Greater Than100 K	3	IndivRcvdGreaterThan100KCnt
Former Ofcr Employees Listed	0	FormerOfcrEmployeesListedInd
Total Comp Greater Than150 K	Yes (1)	TotalCompGreaterThan150KInd
Compensation From Other Srcs	0	CompensationFromOtherSrcsInd

Contractor Compensation ContractorCompensationGrp (2 entries)

Address Line1ContractorAddress/USAddress/AddressLine1Txt	CityContractorAddress/USAddress/CityNm	State AbbreviationContractorAddress/USAddress/StateAbbreviationCd	ZIPContractorAddress/USAddress/ZIPCd	ServicesServicesDesc	CompensationCompensationAmt
TRI MORAN DEVELOPMENT INC
9815 RICABY DRIVE	HOUSTON	TX	77064	CONTRACT LABOR	$219,965
TIMOTHY RICHARDSON
6707 OLD STAGE RD	ROCKVILLE	MD	20852	CONSULTING	$102,989

Field	Value	IRS element (for citing)
Cntrct Rcvd Greater Than100 K	2	CntrctRcvdGreaterThan100KCnt
All Other Contributions	$2,533,341	AllOtherContributionsAmt
Noncash Contributions	$6,900	NoncashContributionsAmt
Total Contributions	$2,533,341	TotalContributionsAmt

Program Service Revenue ProgramServiceRevenueGrp

Field	Value	IRS element (for citing)
Desc	OYSTER SEED SALES	Desc
Business	112512	BusinessCd
Total Revenue Column	$18,000	TotalRevenueColumnAmt
Related Or Exempt Func Income	$18,000	RelatedOrExemptFuncIncomeAmt

Field	Value	IRS element (for citing)
Total Program Service Revenue	$18,000	TotalProgramServiceRevenueAmt

Investment Income InvestmentIncomeGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$23,262	TotalRevenueColumnAmt
Related Or Exempt Func Income	$16,558	RelatedOrExemptFuncIncomeAmt
Exclusion	$6,704	ExclusionAmt

Gross Rents GrossRentsGrp

Field	Value	IRS element (for citing)
Real	$56,141	RealAmt

Less Rental Expenses LessRentalExpensesGrp

Field	Value	IRS element (for citing)
Real	$0	RealAmt

Rental Income Or Loss RentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Real	$56,141	RealAmt

Net Rental Income Or Loss NetRentalIncomeOrLossGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$56,141	TotalRevenueColumnAmt
Exclusion	$56,141	ExclusionAmt

Gross Amount Sales Assets GrossAmountSalesAssetsGrp

Field	Value	IRS element (for citing)
Securities	$3,571,325	SecuritiesAmt

Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp

Field	Value	IRS element (for citing)
Securities	$3,561,370	SecuritiesAmt

Gain Or Loss GainOrLossGrp

Field	Value	IRS element (for citing)
Securities	$9,955	SecuritiesAmt

Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$9,955	TotalRevenueColumnAmt
Related Or Exempt Func Income	$9,955	RelatedOrExemptFuncIncomeAmt

Total Revenue TotalRevenueGrp

Field	Value	IRS element (for citing)
Total Revenue Column	$2,640,699	TotalRevenueColumnAmt
Related Or Exempt Func Income	$44,513	RelatedOrExemptFuncIncomeAmt
Unrelated Business Revenue	$0	UnrelatedBusinessRevenueAmt
Exclusion	$62,845	ExclusionAmt

Grants To Domestic Orgs GrantsToDomesticOrgsGrp

Field	Value	IRS element (for citing)
Total	$729,438	TotalAmt
Program Services	$729,438	ProgramServicesAmt

Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp

Field	Value	IRS element (for citing)
Total	$326,429	TotalAmt
Program Services	$326,429	ProgramServicesAmt

Other Salaries And Wages OtherSalariesAndWagesGrp

Field	Value	IRS element (for citing)
Total	$551,282	TotalAmt
Program Services	$551,282	ProgramServicesAmt

Other Employee Benefits OtherEmployeeBenefitsGrp

Field	Value	IRS element (for citing)
Total	$28,212	TotalAmt
Program Services	$28,212	ProgramServicesAmt

Payroll Taxes PayrollTaxesGrp

Field	Value	IRS element (for citing)
Total	$61,134	TotalAmt
Program Services	$61,134	ProgramServicesAmt

Fees For Services Legal FeesForServicesLegalGrp

Field	Value	IRS element (for citing)
Total	$1,200	TotalAmt
Program Services	$1,200	ProgramServicesAmt

Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp

Field	Value	IRS element (for citing)
Total	$1,561	TotalAmt
Program Services	$1,561	ProgramServicesAmt

Advertising AdvertisingGrp

Field	Value	IRS element (for citing)
Total	$32,853	TotalAmt
Program Services	$32,853	ProgramServicesAmt

Office Expenses OfficeExpensesGrp

Field	Value	IRS element (for citing)
Total	$73,076	TotalAmt
Program Services	$73,076	ProgramServicesAmt

Occupancy OccupancyGrp

Field	Value	IRS element (for citing)
Total	$115,624	TotalAmt
Program Services	$115,624	ProgramServicesAmt

Travel TravelGrp

Field	Value	IRS element (for citing)
Total	$56,728	TotalAmt
Program Services	$56,728	ProgramServicesAmt

Conferences Meetings ConferencesMeetingsGrp

Field	Value	IRS element (for citing)
Total	$13,221	TotalAmt
Program Services	$13,221	ProgramServicesAmt

Depreciation Depletion DepreciationDepletionGrp

Field	Value	IRS element (for citing)
Total	$335,811	TotalAmt
Program Services	$335,811	ProgramServicesAmt

Insurance InsuranceGrp

Field	Value	IRS element (for citing)
Total	$48,367	TotalAmt
Program Services	$48,367	ProgramServicesAmt

Other Expenses OtherExpensesGrp (4 entries)

DescDesc	TotalTotalAmt	Program ServicesProgramServicesAmt
CONTRACT LABOR	$227,181	$227,181
CONSULTING	$121,466	$121,466
R&M	$67,200	$67,200
OTHER PAYROLL EXPENSE	$31,679	$31,679

All Other Expenses AllOtherExpensesGrp

Field	Value	IRS element (for citing)
Total	$11,961	TotalAmt
Program Services	$11,961	ProgramServicesAmt

Total Functional Expenses TotalFunctionalExpensesGrp

Field	Value	IRS element (for citing)
Total	$2,834,423	TotalAmt
Program Services	$2,834,423	ProgramServicesAmt
Management And General	$0	ManagementAndGeneralAmt
Fundraising	$0	FundraisingAmt

Savings And Temp Cash Invst SavingsAndTempCashInvstGrp

Field	Value	IRS element (for citing)
BOY	$495,500	BOYAmt
EOY	$453,590	EOYAmt

Accounts Receivable AccountsReceivableGrp

Field	Value	IRS element (for citing)
BOY	$21,934	BOYAmt
EOY	$15,294	EOYAmt

Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp

Field	Value	IRS element (for citing)
BOY	$24,419	BOYAmt
EOY	$2,811	EOYAmt

Field	Value	IRS element (for citing)
Land Bldg Equip Cost Or Other Bss	$2,661,056	LandBldgEquipCostOrOtherBssAmt
Land Bldg Equip Accum Deprec	$335,812	LandBldgEquipAccumDeprecAmt

Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp

Field	Value	IRS element (for citing)
BOY	$1,114,632	BOYAmt
EOY	$2,325,244	EOYAmt

Investments Pub Traded Sec InvestmentsPubTradedSecGrp

Field	Value	IRS element (for citing)
BOY	$2,366,175	BOYAmt
EOY	$1,364,779	EOYAmt

Total Assets TotalAssetsGrp

Field	Value	IRS element (for citing)
BOY	$4,022,660	BOYAmt
EOY	$4,161,718	EOYAmt

Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp

Field	Value	IRS element (for citing)
EOY	$152,793	EOYAmt

Other Liabilities OtherLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$44,611	BOYAmt
EOY	$72,762	EOYAmt

Total Liabilities TotalLiabilitiesGrp

Field	Value	IRS element (for citing)
BOY	$44,611	BOYAmt
EOY	$225,555	EOYAmt

Field	Value	IRS element (for citing)
Organization Follows FASB117	Yes (X)	OrganizationFollowsFASB117Ind

No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp

Field	Value	IRS element (for citing)
BOY	$3,978,049	BOYAmt
EOY	$3,936,163	EOYAmt

Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$3,978,049	BOYAmt
EOY	$3,936,163	EOYAmt

Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp

Field	Value	IRS element (for citing)
BOY	$4,022,660	BOYAmt
EOY	$4,161,718	EOYAmt

Field	Value	IRS element (for citing)
Info In Schedule O Part XI	Yes (X)	InfoInScheduleOPartXIInd
Reconcilation Revenue Expnss	-$193,724	ReconcilationRevenueExpnssAmt
Net Unrlzd Gains Losses Invst	$60,383	NetUnrlzdGainsLossesInvstAmt
Other Changes In Net Assets	$91,455	OtherChangesInNetAssetsAmt
Method Of Accounting Accrual	Yes (X)	MethodOfAccountingAccrualInd
Accountant Compile Or Review	0	AccountantCompileOrReviewInd
FS Audited	0	FSAuditedInd
Federal Grant Audit Required	0	FederalGrantAuditRequiredInd

Schedule A IRS990ScheduleA

Field	Value	IRS element (for citing)
Agricultural Research Org	Yes (X)	AgriculturalResearchOrgInd

Agricultural Name And Address AgriculturalNameAndAddressGrp

College University Name CollegeUniversityName

Field	Value	IRS element (for citing)
Business Name Line1	TEXAS A&M UNIVERSITY - CORPUS CHRISTI	BusinessNameLine1Txt

Field	Value	IRS element (for citing)
City	CORPUS CHRISTI	CityNm
State Abbreviation	TX	StateAbbreviationCd

Schedule B IRS990ScheduleB

Contributor Information ContributorInformationGrp

Field	Value	IRS element (for citing)
Contributor	RESTRICTED	ContributorNum

Contributor Business Name ContributorBusinessName

Field	Value	IRS element (for citing)
Business Name Line1	RESTRICTED	BusinessNameLine1

Contributor US Address ContributorUSAddress

Field	Value	IRS element (for citing)
Address Line1	RESTRICTED	AddressLine1
Address Line2	RESTRICTED	AddressLine2
City	RESTRICTED	City
State	RESTRICTED	State
ZIP Code	RESTRICTED	ZIPCode

Field	Value	IRS element (for citing)
Total Contributions	RESTRICTED	TotalContributionsAmt

Schedule D IRS990ScheduleD

Buildings BuildingsGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,174,362	OtherCostOrOtherBasisAmt
Depreciation	$93,181	DepreciationAmt
Book Value	$1,081,181	BookValueAmt

Equipment EquipmentGrp

Field	Value	IRS element (for citing)
Other Cost Or Other Basis	$1,486,694	OtherCostOrOtherBasisAmt
Depreciation	$242,631	DepreciationAmt
Book Value	$1,244,063	BookValueAmt

Field	Value	IRS element (for citing)
Total Book Value Land Buildings	$2,325,244	TotalBookValueLandBuildingsAmt

Other Liabilities Org OtherLiabilitiesOrgGrp

Field	Value	IRS element (for citing)
Desc	OTHER LIABILITIES	Desc
Amt	$72,762	Amt

Field	Value	IRS element (for citing)
Total Liability	$72,762	TotalLiabilityAmt

Schedule I IRS990ScheduleI

Field	Value	IRS element (for citing)
Grant Records Maintained	Yes (1)	GrantRecordsMaintainedInd

Recipient Table RecipientTable (5 entries)

Address Line1USAddress/AddressLine1Txt	CityUSAddress/CityNm	State AbbreviationUSAddress/StateAbbreviationCd	ZIPUSAddress/ZIPCd	IRC SectionIRCSectionDesc	Cash GrantCashGrantAmt	Non Cash AssistanceNonCashAssistanceAmt	Purpose Of GrantPurposeOfGrantTxt	Recipient EINRecipientEIN
TEXAS A&M UNIVERSITY CORPUS CHRISTI
6300 OCEAN DRIVE UNIT 5869	CORPUS CHRISTI	TX	78412	1151	$669,813	$0	MARINE RESEARCH
SOUTHEASTERN ASSOCIATION OF FISH &
PO BOX 646	HARTWELL	GA	30643	501C4	$20,000	$0	MARINE RESEARCH	570542609
FRIENDS OF THE PALACIOS LIBRARY
PO BOX 2	PALACIOS	TX	77465	501C3	$10,000	$0	NON-PROFIT SUPPORT	760268882
OYSTER SOUTH
303 E HOWARD AVE	DECATUR	GA	30030	501C3	$8,500	$0	MARINE RESEARCH	813434897
HOUSTON SAFARI CLUB FOUNDATION
14811 ST MARYS LANE SUITE 265	HOUSTON	TX	77079	501C3	$5,500	$0	NON-PROFIT SUPPORT	742177975

Field	Value	IRS element (for citing)
Total501c3 Org	4	Total501c3OrgCnt
Total Other Org	1	TotalOtherOrgCnt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART IV - ADDITIONAL INFORMATION	FormAndLineReferenceDesc
Explanation	PALACIOS MARINE AGRICULTURAL RESEARCH, INC. ONLY PROVIDES GRANT FUNDING TO VERIFIED NON-PROFITS THAT SHARE IN MARINE RESEARCH & RESTORATION EFFORTS OR PROVIDES SUPPORT TO LOCAL COMMUNITIES. EACH GRANTEE REQUEST IS REVIEWED FOR PURPOSE AND IMPACT. GRANTEES SIGN AGREEMENTS UPON ACCEPTANCE OF FUNDS.	ExplanationTxt

Schedule J IRS990ScheduleJ

Field	Value	IRS element (for citing)
Independent Consultant	Yes (X)	IndependentConsultantInd
Compensation Survey	Yes (X)	CompensationSurveyInd
Board Or Committee Approval	Yes (X)	BoardOrCommitteeApprovalInd
Severance Payment	0	SeverancePaymentInd
Supplemental Nonqual Rtr Plan	0	SupplementalNonqualRtrPlanInd
Equity Based Comp Arrngm	0	EquityBasedCompArrngmInd
Comp Based On Revenue Of Flng Org	0	CompBasedOnRevenueOfFlngOrgInd
Comp Bsd On Rev Related Orgs	0	CompBsdOnRevRelatedOrgsInd
Comp Bsd Net Earns Flng Org	0	CompBsdNetEarnsFlngOrgInd
Comp Bsd Net Earns Rltd Orgs	0	CompBsdNetEarnsRltdOrgsInd
Any Non Fixed Payments	0	AnyNonFixedPaymentsInd
Initial Contract Exception	0	InitialContractExceptionInd

Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp

Field	Value	IRS element (for citing)
Person	JOE FOX	PersonNm
Title	EXECUTIVE DIRECTOR	TitleTxt
Base Compensation Filing Org	$213,923	BaseCompensationFilingOrgAmt
Compensation Based On Rltd Orgs	$0	CompensationBasedOnRltdOrgsAmt
Bonus Filing Organization	$0	BonusFilingOrganizationAmount
Bonus Related Organizations	$0	BonusRelatedOrganizationsAmt
Other Compensation Filing Org	$0	OtherCompensationFilingOrgAmt
Other Compensation Rltd Orgs	$0	OtherCompensationRltdOrgsAmt
Deferred Compensation Flng Org	$0	DeferredCompensationFlngOrgAmt
Deferred Comp Rltd Orgs	$0	DeferredCompRltdOrgsAmt
Nontaxable Benefits Filing Org	$0	NontaxableBenefitsFilingOrgAmt
Nontaxable Benefits Rltd Orgs	$927	NontaxableBenefitsRltdOrgsAmt
Total Compensation Filing Org	$213,923	TotalCompensationFilingOrgAmt
Total Compensation Rltd Orgs	$927	TotalCompensationRltdOrgsAmt
Comp Report Prior990 Filing Org	$0	CompReportPrior990FilingOrgAmt
Comp Report Prior990 Rltd Orgs	$0	CompReportPrior990RltdOrgsAmt

Supplemental Information Detail SupplementalInformationDetail

Field	Value	IRS element (for citing)
Form And Line Reference	PART I, LINE 3	FormAndLineReferenceDesc
Explanation	PART III - OTHER ADDITIONAL INFORMATION PART I, LINE 3 - METHOD USED FOR COMPENSATION EXPLANATION: COMPENSATION FOR THE DIRECTORS AND OFFICERS IS BASED ON RECOMMENDATIONS RECEIVED FROM LEGAL COUNSEL. LEGAL COUNSEL RETAINS QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS TO BASE THEIR RECOMMENDATIONS ON. THE RETAINED QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS BASE THEIR ADVICE ON MARKET SURVEYS, SITE VISITS, AND INDIVIDUAL PERSONAL INTERVIEWS WITH ALL PERSONNEL. OTHER INVESTIGATIONS AND PROCEDURES ARE PERFORMED AS THEY DEEM NECESSARY UNDER THE CIRCUMSTANCES.	ExplanationTxt

Schedule O IRS990ScheduleO

Supplemental Information Detail SupplementalInformationDetail (7 entries)

Form And Line ReferenceFormAndLineReferenceDesc	ExplanationExplanationTxt
FORM 990 - ORGANIZATION'S MISSION	THE CORPORATION IS ORGANIZED, AND SHALL BE OPERATED, EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, EDUCATIONAL, AND/OR OTHER EXEMPT PURPOSES SET FORTH IN SECTION 501(C)(3) OF THE INTERNAL REVENAL CODE OF 1986, AS AMENDED, OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE ("CODE"). SPECIFICALLY, BUT WITHOUT LIMITATION OF THE FOREGOING, THE CORPORATION IS ORGANIZED FOR THE PURPOSE OF CONDUCTING AGRICULTURAL RESEARCH. THE PRIMARY CHARITABLE ACTIVITES OF THE CORPORATION IS WITHOUT LIMITATION DIRECTLY CONDUCTING RESEARCH TARGETED TOWARD SAVING, RESTORING, AND ENHANCING THE EXISTING HABITATS OF OYSTERS AND OTHER MARINE ORGANISMS, DEVELOPING NEW HABITATS FOR SUCH MARINE ORGANISMS, REPLENISHING AND ASSISTING IN THE LONG TERM STABILITY OF MARINE ORGANISM STACKS, DEVELOPING ENVIRONMENTALLY SUSTAINABLE MARINE ORGANISM PRODUCTION AND HARVESTING METHODOLOGIES IN THE TEXAS GULF COAST AND ELSEWHERE, AS DETERMINED BY THE CORPORATION'S BOARD OF DIRECTORS, AND DISSEMINATING AND EDUCATING THE PUBLIC, BOTH DIRECTLY AND INDIRECTLY, REGARDING ITS RESEARCH OUTCOMES. THE CORPORATION HAS ENTERED INTO COLLABORATIVE AGREEMENTS SO THAT ITS AGRICULTURAL RESEARCH IS CONDUCTED IN CONJUNCTION WITH ONE OR MORE (A) LAND-GRANT COLLEGES AND UNIVERSITIES, AND/OR (B) NON-LAND-GRANT COLLEGES OF AGRICULTURE DESIGNATED AS SUCH BY THE NATIONAL INSTITUTE OF FOOD AND AGRICULTURE.
FORM 990, PART III, LINE 4A - FIRST ACCOMPLISHMENT	PALACIOS MARINE AGRICULTURAL RESEARCH, INC. WAS FORMED IN 2019 AS AN AGRICULTURAL RESEARCH ORGANIZATION WITH THE PURPOSE OF DIRECTLY ENGAGING IN THE CONTINUOUS AND ACTIVE CONDUCT OF AGRICULTURAL RESEARCH IN CONJUNCTION WITH ONE OR MORE LAND-GRANT UNIVERSITIES AND/OR NON-LAND GRANT COLLEGES OF AGRICULTURE. PALACIOS MARINE AGRICULTURAL RESEARCH, INC.'S SOLE PROGRAM SERVICE IS CONDUCTING RESEARCH TARGETED TOWARD SAVING, RESTORING, AND ENHANCING THE EXISTING HABITATS OF OYSTERS AND OTHER MARINE ORGANISMS, DEVELOPING NEW HABITATS FOR SUCH MARINE ORGANISMS, REPLENISHING, AND ASSISTING IN THE LONG-TERM STABILITY OF MARINE ORGANISM STACKS, DEVELOPING ENVIRONMENTALLY SUSTAINABLE MARINE ORGANISM PRODUCTION, AND HARVESTING METHODOLOGIES. ALL EXPENSES OF THE ORGANIZATION ARE RELATED TO THIS PROGRAM SERVICE. A MOBILE HATCHERY HAS BEEN INSTALLED AND IS OPERATIONAL PENDING CONSTRUCTIONOF A PERMANENT HATCHERY.
FORM 990, PART VI, SECTION B, LINE 11B	FORM 990, PART VI, LINE 11B - ORGANIZATION'S PROCESS TO REVIEW FORM 990 EACH DIRECTOR IS PROVIDED A COPY OF THE FORM 990. THE FORM 990 IS EXPLAINED IN DETAIL BY THE EXECUTIVE DIRECTOR AND ALL QUESTIONS RAISED BY INDIVIDUAL BOARD MEMBERS ARE DISCUSSED. WHEN THE PRESENTATION AND DISCUSSIONS ARE COMPLETED THE BOARD TAKES THE FORMAL ACTION TO APPROVE THE FORM 990. THE BOARD'S APPROVAL IS REFLECTED IN THE MINUTES OF THE MEETING.
FORM 990, PART VI, SECTION B, LINE 12C	FORM 990, PART VI, LINE 12C - ENFORCEMENT OF CONFLICTS POLICY THE ORGANIZATION REQUIRES EACH DIRECTOR TO ACKNOWLEDGE THE CONFLICT OF INTEREST POLICY AT LEAST ANNUALLY, AND AT LEAST ANNUALLY REPORT ANY ONGOING POTENTIAL CONFLICTS. EACH DIRECTOR IS REQUIRED TO INFORM THE BOARD ON EACH OCCASION A POTENTIAL CONFLICT ARISES. THE BOARD ADDRESSES THE SITUATION IN ACCORDANCE WITH THE WRITTEN CONFLICT OF INTEREST POLICY.
FORM 990, PART VI, SECTION B, LINE 15	FORM 990, PART VI, LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL SEE SCHEDULE J, PART I, LINE 3 FORM 990, PART VI, LINE 15B - COMPENSATION PROCESS FOR OFFICERS METHOD USED FOR COMPENSATION EXPLANATION: COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES IS BASED ON RECOMMENDATIONS RECEIVED FROM LEGAL COUSEL. LEGAL COUNSEL RETAINS QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS TO BASE THEIR RECOMMENDATIONS ON. THE RETAINED QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS BASE THEIR ADVICE ON MARKET SURVEYS, SITE VISITS, AND INDIVIDUAL PERSONAL INTERVIEWS WITH ALL PERSONNEL. OTHER INVESTIGATIONS AND PROCEDURES ARE PERFORMED AS THEY DEEM NECESSARY UNDER THE CIRCUMSTANCES.
FORM 990, PART VI, SECTION C, LINE 19	FORM 990, PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATION ALL DOCUMENTS REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC BY THE INTERNAL REVENUE SERVICE OR BY THE GOVERNINGLAWS OF THE STATE OF TEXAS AS AVAILABLE BY WRITTEN REQUEST. THESE DOCUMENTS INCLUDE, BUT AE NOT LIMITED TO, THE CERTIFICATE OF FORMATION, FINANCIAL STATEMENTS, AND FORM 990.
FORM 990, PART XI, LINE 9:	UNREALIZED GAIN/(LOSS) ON FIXED ASSETS 91,455.