2022-12-20T12:33:21-05:00 2022-08-31 742588605 DOVE THOMPSON & COMPANY 711 N CARANCAHUA ST STE 820 CORPUS CHRISTI TX 78401 990 2021-09-01 845079866 PALACIOS MARINE AGRICULTURAL RESEARCH INC PALA 3618819040 555 N CARANCAHUA SUITE 700 CORPUS CHRISTI TX 78401 CLARK C FLATO BOARD CHAIRMAN 3618819040 2022-12-14 true CLARK C FLATO 999009999 PATRICIA A BRYANT CPA P01229486 3618871874 2022-12-13 2021 2022-09-23 18:48:47Z CLARK C FLATO 555 N CARANCAHUA ST 700 CORPUS CHRISTI TX 78401 2484282 false X X 2020 TX 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 INTERAL 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 ACTIVITIES 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, B 7 7 5 5 0 3230198 2450908 0 942 29824 3550 3231140 2484282 0 0 281097 736412 0 0 559584 641189 840681 1377601 2390459 1106681 2986125 4022660 44611 2986125 3978049 X 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 INTERAL 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 ACTIVITIES 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, B false false 1377601 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. 1377601 true true false false false false false false false false true false false false true false false false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false true 5 0 true 5 true false false false false false false false false X 7 7 false false false false false false false true true false false true true true true true true true true false X CLARK C FLATO 3618819040 555 N CARANCAHUA ST 700 CORPUS CHRISTI TX 78401 JOE FOX EXECUTIVE DI 40.00 X 208846 0 695 GAIL SUTTON DIRECTOR OF 40.00 X 129750 0 788 LARRY MCKINNEY DIRECTOR 20.00 X 45837 0 0 STEPHEN W ALTHEIDE TREASURER 5.00 X X 0 0 0 CLARK C FLATO BOARD CHAIRM 8.00 X X 0 0 0 DAVID HOYER VICE CHAIRMA 2.00 X X 0 0 0 JOHN J JOHNSON SECRETARY 2.00 X X 0 0 0 DAVID F SUTTER DIRECTOR 2.00 X 0 0 0 KENNETH W TRAWICK DIRECTOR 2.00 X 0 0 0 384433 1483 2 false true false TRI MORAN DEVELOPMENT INC 9815 RICABY DRIVE HOUSTON TX 77064 CONTRACT LABOR 190446 KOCUREK LAND IMPROVEMENT INC PO BOX 129 BANQUETE TX 78339 CONSTRUCTION 119244 2 2450908 2450908 29824 1012 28812 9154 9154 9154 9154 DISPOSAL OF ASSET -5604 -5604 -5604 2484282 -4592 37966 254683 254683 376444 376444 56910 56910 48375 48375 908 908 40838 40838 29691 29691 105891 105891 81225 81225 1583 1583 48001 48001 CONTRACT LABOR 154095 154095 CONSULTING 138708 138708 R&M 56249 56249 OTHER 13066 13066 -29066 -29066 1377601 1377601 0 0 946566 495500 72 21934 142833 24419 1114632 596189 1114632 1300465 2366175 2986125 4022660 44611 0 44611 X 2986125 3978049 2986125 3978049 2986125 4022660 X 1106681 -23302 -91455 X false false false X TEXAS A&M UNIVERSITY - CORPUS CHRISTI CORPUS CHRISTI TX RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 342472 342472 733857 733857 38303 38303 1114632 ACCRUED LEAVE 41173 PREPAID RENT INCOME 3438 44611 X X X false false false false false false false false false JOE FOX EXECUTIVE DIRECTOR 208846 695 209541 SCHEDULE J, PART III 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. 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 INTERAL 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 ACTIVITIES 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, PAGE 2, PART III, LINE 4A 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. FORM 990, PAGE 6, PART VI, LINE 11B 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 FORMAL ACTION TO APPROVE THE FORM 990. THE BOARD'S APPROVAL IS REFLECTED IN THE MINUTES OF THE MEETING. FORM 990, PAGE 6, PART VI, LINE 12C 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, PAGE 6, PART VI, LINE 15A SEE SCHEDULE J, PART I, LINE 3 FORM 990, PAGE 6, PART VI, LINE 15B METHOD USED FOR COMPENSATION EXPLANATION: COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES 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. FORM 990, PAGE 6, PART VI, LINE 19 ALL DOCUMENTS REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC BY THE INTERNAL REVENUE SERVICE OR BY THE GOVERNING LAWS OF THE STATE OF TEXAS AS AVAILABLE BY WRITTEN REQUEST. THESE DOCUMENTS INCLUDE, BUT ARE NOT LIMITED TO, THE CERTIFICATE OF FORMATION, AUDITED FINANCIAL STATEMENTS, AND FORM 990. FORM 990, PART XI, LINE 9 FMV ADJUSTMENT - UNREALIZED LOSS ON ASSETS -91,455