2017-11-14T08:58:30-06:00 2016-12-31 PricewaterhouseCoopers LLP 101 SEAPORT BLVD SUITE 500 BOSTON MA 02210 990 2016-01-01 042105850 WOODS HOLE OCEANOGRAPHIC INSTITUTION % DANA FERNANDEZ CONTROLLER WOOD 5084572000 569 WOODS HOLE ROAD MS 14 WOODS HOLE MA 02543 JEFFREY FERNANDEZ VP OPS & CFO 5084572000 2017-11-13 true ERIN COUTURE P01390592 6175305000 2017-11-09 155.201.188.7 04363820173185000001 2017-11-14 P DBF1439FAE891CFA422EC40ADE1213A14C783EDF 8B7C18A0A549DB8B36FA7F34EE8F07582F25FCBF 2016 2017-02-10 21:41:12Z DR MARK R ABBOTT 569 WOODS HOLE ROAD MS 14 WOODS HOLE MA 02543 240638597 false X www.whoi.edu X 1930 MA SEE SCHEDULE O 32 30 1082 133 1355589 213415785 206600438 5704950 6977967 6702823 18275 625435 2130637 226448993 215727317 9224517 9016343 0 0 92560267 95975354 0 71567 2603980 134442510 131304817 236227294 236368081 -9778301 -20640764 568116376 569858558 226359151 231539764 341757225 338318794 X SEE SCHEDULE O false false 199760193 8531164 2939978 Sponsored and Institutional Research in oceanography and related fields: Of the 1016 Sponsored Research Awards, 546 awards are from 8 Federal agencies and 470 are from 142 other sponsors. Institution Research sponsored 90 projects from unrestricted funds. In addition, Woods Hole Oceanographic Institution issued 531 publications in 2016. 11360636 485179 4688581 Education: Joint Graduate Program with M.I.T. in the marine sciences. In 2016 there were 117 Graduate Students, 24 degree recipients, 47 Post Doctoral Scholars and Fellows, 10 Geophysical Fluid Dynamics Program participants, 32 Summer Student Fellows, and 121 Guest Students. 211120829 true true false true false false true true false true true true false false true false false true false true true false false true false false false false true true true false false false false false false false false false false true false false false true true true true true false true 289 0 true 1082 true true true false false false false false false false false false X 32 30 false false false false true true true true true false false true true true true true true true true true false CA MA NY X X X DANA FERNANDEZ CONTROLLER 5082893505 MS 14 569 WOODS HOLE RD WOODS HOLE MA 02543 X MARK ABBOTT PRESIDENT/DIRECTOR 40.0 0.0 X X 423298 0 204717 David Scully CHAIRMAN OF LIFE TRUSTEES 2.5 0.0 X X 0 0 0 JEFFERSON E HUGHES JR VICE CHAIR BOARD 2.5 0.0 X X 0 0 0 STEVEN G HOCH CHAIRMAN OF CORP 2.5 0.0 X X 0 0 0 CHRISTOPHER LAND VP LEGAL/GEN CNSL/CLERK 40.0 0.0 X X 256697 0 41464 HARDWICK SIMMONS TRUSTEE 2.5 0.0 X 0 0 0 JAMES A AUSTIN JR TRUSTEE 2.5 0.0 X 0 0 0 RODNEY B BERENS TRUSTEE (UNTIL 10/16) 2.5 0.0 X 0 0 0 COLEMAN P BURKE TRUSTEE (UNTIL 5/16) 2.5 0.0 X 0 0 0 JAMES M CLARK JR TRUSTEE 2.5 0.0 X 0 0 0 ROBERT BAYLIS TRUSTEE 2.5 0.0 X 0 0 0 ROBERT A DAY JR TRUSTEE (UNTIL 5/16) 2.5 0.0 X 0 0 0 ALFRED T DENGLER TRUSTEE 2.5 0.0 X 0 0 0 SARA G DENT TRUSTEE 2.5 0.0 X 0 0 0 ROBERT C DUCOMMUN TRUSTEE 2.5 0.0 X 0 0 0 RICHARD A FALKENRATH JR TRUSTEE 2.5 0.0 X 0 0 0 MICHELE S FOSTER TRUSTEE 2.5 0.0 X 0 0 0 CHRISTINE FOX TRUSTEE 2.5 0.0 X 0 0 0 JOSEPH HOOPES TRUSTEE 2.5 0.0 X 0 0 0 HAMILTON E JAMES TRUSTEE 2.5 0.0 X 0 0 0 ERIC H JOSTROM TRUSTEE 2.5 0.0 X 0 0 0 ANNE C KROENBERG TREASURER 2.5 0.0 X X 0 0 0 GEORGETTE C MCCONNELL TRUSTEE 2.5 0.0 X 0 0 0 JOYCE K MOSS TRUSTEE 2.5 0.0 X 0 0 0 NANCY S NEWCOMB TRUSTEE (UNTIL 5/16) 2.5 0.0 X 0 0 0 JOSEPH F PATTON JR TRUSTEE 2.5 0.0 X 0 0 0 JAMES P ROSENFIELD TRUSTEE 2.5 0.0 X 0 0 0 STEPHEN E TAYLOR TRUSTEE 2.5 0.0 X 0 0 0 JEAN C TEMPEL TRUSTEE 2.5 0.0 X 0 0 0 GEOFFREY A THOMPSON TRUSTEE (UNTIL 5/16) 2.5 0.0 X 0 0 0 THOMAS J TIERNEY TRUSTEE 2.5 0.0 X 0 0 0 EDMUND B WOOLLEN TRUSTEE 2.5 0.0 X 0 0 0 EDWARD TREGURTHA TRUSTEE (AS OF 5/16) 2.5 0.0 X 0 0 0 NEWTON PS MERRILL CHAIR OF LIFE TRUSTEES 2.5 0.0 X X 0 0 0 LAURENCE FISH TRUSTEE 2.5 0.0 X 0 0 0 JOHN F O'BRIEN TRUSTEE 2.5 0.0 X 0 0 0 MARGARET FLANAGAN TRUSTEE 2.5 0.0 X 0 0 0 JEFFREY A FERNANDEZ CFO/VP OPERATIONS 40.0 0.0 X 333067 0 114373 LAURENCE MADIN DEP DIRECTOR & VP OF RESEARCH 40.0 0.0 X 308251 0 54969 ROBERT MUNIER VP MAR FAC & OP 40.0 0.0 X 279408 0 51902 JAMES YODER VICE PRESIDENT OF ACADEMICS 40.0 0.0 X 254564 0 82326 ROBERT WELLER SENIOR SCIENTIST 40.0 0.0 X 260398 0 57129 DONALD ANDERSON SENIOR SCIENTIST 40.0 0.0 X 220555 0 61432 JAMES BELLINGHAM SENIOR SCIENTIST 40.0 0.0 X 216156 0 49107 CHARLES GAUVIN CHIEF DEVELOPMENT OFFICER 40.0 0.0 X 266010 0 33443 THOMAS G NEMMERS EXEC. PROJ. MGR/FORMER CLERK 40.0 0.0 X 76050 0 33417 SUSAN K AVERY FORMER PRESIDENT 40.0 0.0 X 268000 0 0 DANA FERNANDEZ CONTROLLER 40.0 0.0 X 189151 0 48297 3351605 0 832576 212 true true false TELEDYNE WEBB RESEARCH 49 EDGERTON DRIVE NORTH FALMOUTH MA 02556 SCIENTIFIC RESEARCH 2608178 RAYTHEON COMPANY 50 APPLE HILL DRIVE TEWKSBURY MA 01876 SCIENTIFIC RESEARCH 4235903 WORLD-LINK COMMUNICATIONS INC 1101 WORCESTER ROAD FRAMINGHAM MA 01701 SCIENTIFIC RESEARCH 2088356 DETYENS SHIPYARD INC 1670 Dry Dock Ave 200 NORTH CHARLESTON SC 29405 SCIENTIFIC RESEARCH 6720809 MRV SYSTEMS LLC 11558 Sorrento Valley Rd 1 SAN DIEGO CA 92121 SCIENTIFIC RESEARCH 2041875 114 X 166347303 40253135 460241 206600438 EDUCATION 900099 4688581 4688581 CHARTER INCOME 900099 1665744 1093196 572548 CENTER FOR MARINE ROBOTICS REVENUE 900099 402084 402084 INFO CENTER INCOME 541900 221558 221558 6977967 18275 783041 -764766 0 349450 216657 132793 544611 316566 228045 0 228045 228045 24594714 24594714 0 0 0 0 0 0 0 0 0 0 0 INSURANCE RECOVERY 900099 1487462 1006483 480979 OTHER REVENUE 900099 65680 65680 1553142 215727317 7628559 1355589 142731 0 9016343 9016343 0 0 1562991 491141 981743 90107 256842 0 256842 0 65023479 54980743 8654392 1388344 13915000 11547771 2062990 304239 10298952 8546888 1526887 225177 4918090 4081421 729139 107530 1706050 1586865 96808 22377 628333 192822 435331 180 603172 0 603172 0 0 71567 71567 2883536 72795 2810741 0 766432 750958 15460 14 363998 277130 34223 52645 19737896 19469996 240332 27568 617603 530976 76794 9833 0 4616328 4073517 477776 65035 5882259 5601679 216702 63878 0 0 4494290 4352598 141692 0 0 10084246 9590545 493701 0 4360922 3396555 964057 310 EQUIPMENT 27198947 27112460 65594 20893 OUTSIDE SERVICES 18988184 18258493 710864 18827 EQUIPMENT RENT & MAINTENANCE 6444985 5921513 442708 80764 SUBCONTRACTS 15627947 15627947 0 0 6299689 5639673 605324 54692 236368081 211120829 22643272 2603980 -4064673 -562938 26405704 21782882 2779755 3044822 51429788 46335934 0 0 0 0 679094 607432 1816698 1960834 10642477 11273659 224647139 139785894 84743420 84861245 2885814 3787887 388694454 392184813 0 0 0 0 2103845 4581988 568116376 569858558 25853472 27962587 0 0 17541969 12580510 54079559 52336160 0 0 0 0 0 0 16000000 13000000 112884151 125660507 226359151 231539764 X -12865051 -25044464 259309387 265784202 95312889 97579056 341757225 338318794 568116376 569858558 X -20640764 27078630 -9876297 X false true X true true true X 199587473 194620964 215911523 213556790 206600438 1030277188 0 0 199587473 194620964 215911523 213556790 206600438 1030277188 4677914 1025599274 3540848 1370579 2404645 975807 129295 8421174 42205 42205 841419 264749 440317 1037056 1553142 4136683 1042877250 47355495 0.98343 0.98423 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false true 528 false false true 10504 true 100 false 11132 false LOBBYING ACTIVITY EXPLANATION THE WOODS HOLE OCEANOGRAPHIC INSTITUTION DID NOT PARTICIPATE OR INTERVENE IN ANY POLITICAL CAMPAIGNS. THE WOODS HOLE OCEANOGRAPHIC INSTITUTION EMPLOYS A DIRECTOR OF GOVERNMENT RELATIONS TO LOBBY ON A BROAD RANGE OF POLICY AND SPENDING LEGISLATION RELATING TO OCEAN SCIENCE. SPECIFICALLY, WHOI LOBBIES FOR INCREASED FUNDING FOR COMPETITIVE OCEAN SCIENCE GRANT PROGRAMS IN THE US NAVY, THE NATIONAL SCIENCE FOUNDATION, AND THE NATIONAL OCEANIC AND ATMOSPHERIC ADMINISTRATION. IN ADDITION, THE INDIVIDUAL REPORTS TO WOODS HOLE OCEANOGRAPHIC INSTITUTION ON DEVELOPMENTS AND ISSUES OF INTEREST TO AND/OR FACING THE INSTITUTION. FOR THE YEAR ENDED DECEMBER 31, 2016, WHOI PAID $273 IN COMPENSATION TO THIS INDIVIDUAL FOR LOBBYING ACTIVITIES. DIRECT CONTACT WITH LEGISLATORS, THEIR STAFFS, GOVERNMENT OFFICIALS, OR A LEGISLATIVE BODY PRODUCED COSTS OF $1,154 FOR DOMESTIC TRAVEL, MEALS, AND OFFICE RENT. THE ORGANIZATION PAID MEMBERSHIP DUES OF $100 TO MEMBER ORGANIZATIONS WHICH MAY ENGAGE IN LOBBYING ACTIVITIES. THEREFORE, A PORTION OF THE DUES MAY BE ATTRIBUTABLE TO LOBBYING ACTIVITIES. ADDITIONAL COSTS WERE INCURRED FOR MAILINGS $528. WHOI ALSO PROVIDES EXPERT ADVICE TO CONGRESS ON OCEAN MATTERS INCLUDING ENVIRONMENTAL QUALITY, CLIMATE CHANGE AND MARINE RESOURCES. X 2 15.45 1 true 12.00 1278 true X X X false 408211715 11860101 23290148 27475389 415886575 423921896 3227111 11228745 30166037 408211715 409037438 2764783 39329467 27209792 423921896 370305446 2142811 54879456 18290275 409037438 329699724 4707590 40348644 4450512 370305446 0.17500 0.59400 0.23100 false false 5247 1826901 1832148 574821 70537288 27875939 43236170 38840737 31990783 6849954 991497 111870648 79919172 32942973 84861245 PVT EQTY,VENTURE CAP, & OTHER 29550123 F MULTI-STRATEGY INVESTMENT FUND 362634690 F 392184813 0 SUPPLEMENT RETIREMENT RESERVE 10918509 ACCRUED PENSION LIABILITY 114741998 125660507 226552632 27078630 1580611 -14976619 13682622 212870010 2810741 46566 2857307 215727317 233954233 1580611 316566 1897177 232057056 2810741 1500284 4311025 236368081 CONSERVATION EASEMENTS FORM 990, SCHEDULE D, PART II, LINE 5 FACILITIES OFFICE PERSONNEL WALK THE CONSERVATION EASEMENT AREAS TWICE A YEAR TO ENSURE THAT THERE ARE NO ENCROACHMENTS ON THE 15.45 ACRES AND THAT THERE ARE NO PROHIBITED USES AS DEFINED IN THE TERMS OF THE CONSERVATION RESTRICTIONS. FORM 990, SCHEDULE D, PART II, LINE 9 THE WOODS HOLE OCEANOGRAPHIC INSTITUTION'S CONSERVATION EASEMENTS ARE NOT ACCOUNTED FOR SEPARATELY, BUT ARE INCLUDED AS PART OF LAND ON THE BALANCE SHEET. ORGANIZATIONS MAINTAINING COLLECTIONS OF ART, HISTORICAL TREASURES, OR OTHER SIMILIAR ASSETS FORM 990, SCHEDULE D, PART III, LINE 4 In 2013, Woods Hole Oceanographic Institution (WHOI) added the Deepsea Challenger, a human occupied submersible vehicle, to its collection. WHOI scientists and engineers collaborated with the Deepsea CHALLENGER ENGINEERING TEAM TO CONDUCT A FULL SYSTEM SURVEY, COMPLETELY DISASSEMBLING AND REASSEMBLING THE VEHICLE, AND TO DOCUMENT AND DETAIL THE DESIGN APPROACH TO THE VEHICLE'S SUBSYSTEMS. WHOI ENGINEERS HAVE PRESENTED THEIR FINDINGS TO THE OCEAN ENGINEERING COMMUNITY AND INFORMATION ABOUT THE DEEPSEA CHALLENGER IS INCLUDED ON WHOI'S WEBSITE. INTENDED USE OF ENDOWMENT FUND FORM 990, SCHEDULE D, PART V, LINE 4 -PROVIDE A STREAM OF INCOME IN SUPPORT OF ANNUAL BUDGETARY NEEDS. -PRESERVE AND ENHANCE THE REAL (INFLATION-ADJUSTED) PURCHASING POWER. -PROVIDE SUPPORT FOR CAPITAL INVESTMENT NEEDS AS THEY ARISE. other liabilities SCHEDULE D, PART X, LINE 2 Woods Hole Oceanographic Institution does not have a fin 48 footnote in its financial statements. REVENUE INCLUDED ON BOOKS BUT NOT ON RETURN FORM 990, SCHEDULE D, PART XI, LINE 2D PENSION RELATED CHANGES OTHER THAN COST $(9,266,440) CHANGE IN SPLIT INTEREST AGREEMENTS 206,830 Return on Investment for Retiree & Active Med. 864,581 Net Periodic Benefit Cost (5,281,306) Swap Interest Expense (1,500,284) ============== TOTAL $(14,976,619) REVENUE INCLUDED ON RETURN BUT NOT ON BOOKS FORM 990, SCHEDULE D, PART XI, LINE 4B RENTAL EXPENSE $316,566 CHANGE IN NET ASSETS (270,000) ============= TOTAL $46,566 EXPENSES INCLUDED ON BOOKS BUT NOT ON RETURN FORM 990, SCHEDULE D, PART XII, LINE 2D RENTAL EXPENSE $316,566 EXPENSES INCLUDED ON RETURN BUT NOT ON BOOKS FORM 990, SCHEDULE D, PART XII, LINE 4B Swap Interest Expense $1,500,284 Europe (Including Iceland and Greenland) 1 Program Services SHIP OPERATIONS 2600 North America 2 Program Services SHIP OPERATIONS 12129 Central America and the Caribbean 1 Program Services SHIP OPERATIONS 4130 Central America and the Caribbean 1 Program Services SCIENTIFIC RESEARCH 262 East Asia and the Pacific 17 Program Services SCIENTIFIC RESEARCH 84030 Europe (Including Iceland and Greenland) 56 Program Services SCIENTIFIC RESEARCH 149537 North America 23 Program Services SCIENTIFIC RESEARCH 46887 South America 6 Program Services SCIENTIFIC RESEARCH 37376 Sub-Saharan Africa 1 Program Services SCIENTIFIC RESEARCH 1096 Central America and the Caribbean Investments 9337837 108 108 9675884 9675884 true false true true true false DESCRIPTION OF FOREIGN ACTIVITIES SCHEDULE F, PART I, LINE 3 WOODS HOLE OCEANOGRAPHIC INSTITUTION (WHOI) OPERATES TWO U.S. GOVERNMENT-OWNED OCEANOGRAPHIC RESEARCH VESSELS UNDER THE UNIVERSITY-NATIONAL OCEANOGRAPHIC LABORATORY SYSTEM (UNOLS). THE SHIPS OPERATE BY "LEGS," PERIODS OF TIME AT SEA. EACH LEG ENDS IN A PORT OF CALL TO DISEMBARK RESEARCHERS, EQUIPMENT AND SOMETIMES MARINE CREW, THEN LOAD EQUIPMENT, AND BOARD THE NEXT SET OF RESEARCHERS AND SOMETIMES CREW MEMBERS FOR THE FOLLOWING LEG. SOME PORTS OF CALL ARE IN FOREIGN REGIONS AS DETERMINED BY GRANTS THAT FUND SHIP OPERATIONS. WHOI DOES NOT CONSIDER THESE TRANSIENT ACTIVITIES TO CONSTITUTE FOREIGN ACTIVITIES THAT SHOULD BE REPORTED ON FORM 990, SCHEDULE F. IN ALL OF THESE CASES THE PURPOSE OF JOINING A SHIP IS TO CONDUCT RESEARCH ACTIVITIES OR SHIP OPERATIONS AT SEA, NOT IN THE FOREIGN COUNTRY. HOWEVER, AGENTS, PRIMARILY SHIP'S AGENTS WHO ARE PAID FOR SERVICES TO FACILITATE THE TURNOVER BETWEEN LEGS AT SEA, ARE REPORTED BY NUMBER AND TOTAL EXPENDITURES (PART I, LINE 3, COLUMNS (C) AND (F)). ACTIVITIES PER REGION PART I, LINE 3, COLUMNS (B) & (F) REPORTABLE INFORMATION IS OBTAINED THROUGH WHOI'S FINANCIAL MANAGEMENT SYSTEM. PROVISION OF COLUMN (F) DATA FOR THE INSTITUTION WAS FACILITATED BY A LOCALLY-IMPOSED ACCOUNTING PROCEDURE THAT SEPARATES COSTS INCURRED INSIDE ITS BORDERS FROM THOSE INCURRED OUTSIDE. X X X X X true BALLANTINE CORPORATION MAILING false 18059 16688 EDWARD FONES SEE PART IV false 54879 18059 71567 CT MA NY SCHEDULE G, PART I, LINE 2B FUNDRAISING CONSULTANT EDWARD FONES WAS ASSOCIATED WITH THE SAME FUNDRAISING ACTIVITIES AS BALLANTINE CORPORATION. GROSS RECEIPTS FROM THIS JOINT EFFORT ARE INCLUDED ON LINE 1, COLUMN IV. true TUITION/FELLOWSHIPS & SCHOLARSHIPS 145 6745356 BOOK TUITION STIPENDS 109 2270987 MAINTAINING RECORDS FORM 990, SCHEDULE I, PART I, LINE 1 APPLICATIONS FOR ADMISSIONS ARE REVIEWED BY FACULTY. STUDENTS ARE ADMITTED BASED UPON THEIR ACADEMIC RECORD, AND ALL ARE GIVEN SUPPORT THROUGH EITHER WHOI OR MIT. WRITTEN RECORDS OF ALL DECISIONS ARE RETAINED. MONITORING USE OF GRANT FUNDS FORM 990, SCHEDULE I, PART I, LINE 2 EACH STUDENT'S ACADEMIC PROGRESS IS EVALUATED YEARLY TO ENSURE SATISFACTORY ACADEMIC PROGRESS. X X false true X X X X X false true false false false false false true true true MARK ABBOTT PRESIDENT/DIRECTOR 420526 0 0 0 2772 0 170903 0 33814 0 628015 0 0 0 SUSAN K AVERY FORMER PRESIDENT 268000 0 0 0 0 0 0 0 0 0 268000 0 0 0 CHRISTOPHER LAND VP LEGAL/GEN CNSL/CLERK 256260 0 0 0 437 0 21155 0 20309 0 298161 0 0 0 JEFFREY A FERNANDEZ CFO/VP OPERATIONS 321940 0 0 0 11127 0 76500 0 37873 0 447440 0 0 0 LAURENCE MADIN DEP DIRECTOR & VP OF RESEARCH 288525 0 0 0 19726 0 35001 0 19968 0 363220 0 0 0 ROBERT MUNIER VP MAR FAC & OP 275740 0 0 0 3668 0 26500 0 25402 0 331310 0 0 0 JAMES YODER VICE PRESIDENT OF ACADEMICS 253136 0 0 0 1428 0 60968 0 21358 0 336890 0 0 0 ROBERT WELLER SENIOR SCIENTIST 239624 0 0 0 20774 0 36061 0 21068 0 317527 0 0 0 DANA FERNANDEZ CONTROLLER 188751 0 0 0 400 0 32128 0 16169 0 237448 0 0 0 DONALD ANDERSON SENIOR SCIENTIST 213789 0 0 0 6766 0 35000 0 26432 0 281987 0 0 0 JAMES BELLINGHAM SENIOR SCIENTIST 215248 0 0 0 908 0 18040 0 31067 0 265263 0 0 0 CHARLES GAUVIN CHIEF DEVELOPMENT OFFICER 264277 0 0 0 1733 0 7135 0 26308 0 299453 0 0 0 THOMAS G NEMMERS EXEC. PROJ. MGR/FORMER CLERK 68091 0 0 0 7959 0 17493 0 15924 0 109467 0 0 0 FIRST CLASS TRAVEL FORM 990, SCHEDULE J, LINES 1A & 2 JEFFREY FERNANDEZ TRAVELED FIRST CLASS VIA TRAIN IN CONNECTION WITH THE BUSINESS PURPOSES OF WOODS HOLE OCEANOGRAPHIC INSTITUTION. SUCH TRAVEL WAS TREATED AS NON-TAXABLE AND REVIEWED AND APPROVED PURSUANT TO THE ORGANIZATION'S TRAVEL EXPENSE REIMBURSMENT POLICY. FERNANDEZ'S TOTAL FIRST CLASS TRAVEL EXPENSES FOR 2016 WERE $91, FOR WHICH HE REIMBURSED THE ORGANIZATION. Housing Allowance or Residence for Personal Use Form 990, Schedule J, Line 1A DR. Mark R Abbott received housing as a condition of employment for the convenience of the employer. Such amounts ARE not considered taxable compensation. The value of the housing is included in Schedule J, Part II, Column (D). SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN FORM 990, SCHEDULE J, LINE 4B THE ORGANIZATION MAINTAINS A RETIREMENT BENEFIT RESTORATION PLAN ("PLAN") FOR CERTAIN EMPLOYEES. UNDER THE PLAN, PARTICIPANTS ARE ENTITLED TO CERTAIN RESTORATION BENEFIT PAYMENTS UPON OBTAINMENT OF TARGET RETIREMENT AGE, DEATH, DISABILITY, OR INVOLUNTARY TERMINATION. No amounts were accrued under the plan in 2016. Pursuant to his employment agreement, DR. Mark R. Abbott is entitled to a discretionary bonus of up to $100,000 per year for five years. Subject to the officers continued employment as President and Director through September 30, 2020, the Institution shall pay the total of all annual bonus awards no later than December 31, 2020. The award of $70,833 accrued in 2016 is included in Schedule J, Part II, Column (C). Jeffrey Fernandez is entitled to a one-time lump-sum retention payment of $200,000 if he remains employed by the Institution through June 30, 2019. The amount accrued in 2016 of $50,000 is included in Schedule J, Part II, Column (C). Terms and Conditions of Discretionary Bonus Form 990, Schedule J, Line 7 WHOI provides DR. Mark R. Abbott with a discretionary bonus of up to $100,000 to be paid out in 2020. The bonus is at the discretion of the Board or the Compensation Committee. Please see disclosure for DR. Abbott in connection with Schedule J, Part I, Line 4b. FORM 990, SCHEDULE J, LINE 8 WHOI ENTERED INTO AN EMPLOYMENT CONTRACT WITH DR. MARK ABBOTT IN JUNE 2016. THE TERMS OF THIS CONTRACT INCLUDE A BASE SALARY, INCENTIVE PROGRAM, CONFIDENTIALITY, AND SEVERANCE PROVISION. A MHEFA 042456011 57586ECE9 2008-12-04 64403887 Refinanced Bond Issue of 6/29/2004 false false false A 11963067 0 64482881 0 0 0 592200 0 0 10190681 53700000 0 2011 true false true true A false false false true true 0.00074 0.00074 false false false false A false false true true false false 0 false 0 false false A false TOTAL PROCEEDS OF ISSUE SCHEDULE K, PART I, LINE A, COLUMN (F) REFINANCED BOND ISSUE OF 06/29/2004 AND CONSTRUCTION. SCHEDULE K, PART II, LINE 3 THE AMOUNT REPORTED INCLUDES TOTAL PROCEEDS OF ISSUE AND INTEREST EARNED OF $78,994. SCHEDULE K, PART IV, LINE 2C THE REBATE COMPUTATION WAS PERFORMED ON 12/31/2014. X 32 460241 FMV false true true CONTRIBUTION METHOD FORM 990, SCHEDULE M, PART I, COLUMN (B) WOODS HOLE OCEANOGRAPHIC INSTITUTION HAS REPORTED THE NUMBER OF CONTRIBUTIONS ON THIS SCHEDULE. MISSION STATEMENT FORM 990, PART I, LINE 1 AND PART III, LINE 1 THE WOODS HOLE OCEANOGRAPHIC INSTITUTION IS DEDICATED TO RESEARCH AND EDUCATION TO ADVANCE UNDERSTANDING OF THE OCEAN AND ITS INTERACTION WITH THE EARTH SYSTEM, AND TO COMMUNICATING THIS UNDERSTANDING FOR THE BENEFIT OF SOCIETY. INVESTMENT INCOME FORM 990, PART I, LINE 10 AND PART VIII, LINE 3 AS OF DECEMBER 31, 2016 THE INSTITUTION ADOPTED ASU 2015-02 CONSOLIDATIONS: AMENDMENTS TO THE CONSOLIDATION ANALYSIS, WHICH DISCUSSES THE CONSOLIDATION OF LIMITED PARTNERSHIPS AND SIMILAR ENTITIES. AS A RESULT THE INSTITUTION WAS NO LONGER REQUIRED TO CONSOLIDATE ITS INVESTMENT IN WHOI INVESTMENT HOLDINGS LP, (WIH). THE IMPACT (AS IT RELATES SPECIFICALLY TO THE REPORTING OF INVESTMENT INCOME) WAS TO NO LONGER SEPARATELY REPORT PURCHASES, SALES AND REALIZED GAINS OF THE UNDERLYING INVESTMENTS OF THE WHOI LEGACY PORTFOLIO HELD BY WIH WITHIN THE WHOI FINANCIAL STATEMENTS, BUT TO ALLOW THOSE TRANSACTIONS TO BE REPORTED AT THE LP LEVEL WITH ONLY THE NET IMPACT TO FAIR VALUE (APPRECIATION) BEING RECORDED IN WHOI'S FINANCIAL STATEMENTS. DELEGATION OF BOARD AUTHORITY FORM 990, PART VI, LINE 1A THE BOARD OF TRUSTEES DELEGATES BROAD AUTHORITY TO ACT IN ITS STEAD TO AN EXECUTIVE COMMITTEE. PER THE BYLAWS, THE COMPOSITION AND SCOPE OF AUTHORITY OF THE EXECUTIVE COMMITTEE ARE AS FOLLOWS: THE EXECUTIVE COMMITTEE SHALL BE COMPOSED OF THE CHAIRMAN OF THE BOARD OF TRUSTEES; VICE CHAIRMAN OF THE BOARD OF TRUSTEES; CHAIRMAN OF THE CORPORATION; THE PRESIDENT AND DIRECTOR; THE TREASURER; THE CHAIRS OF THE BUSINESS DEVELOPMENT AND TECHNOLOGY TRANSFER COMMITTEE, COMPENSATION COMMITTEE, COMMITTEE ON THE BOARD, DEVELOPMENT COMMITTEE, INVESTMENT COMMITTEE, RESEARCH AND EDUCATION COMMITTEE; AND OTHER TRUSTEES AND LIFE TRUSTEES, FOR A TOTAL COMMITTEE MEMBERSHIP OF NOT MORE THAN FIFTEEN. THE CHAIRMAN OF THE BOARD OF TRUSTEES SHALL SERVE AS THE CHAIR OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE, SO FAR AS MAY BE PERMITTED BY LAW, ALL OF THE POWERS OF THE BOARD DURING THE INTERVALS BETWEEN MEETINGS OF THE BOARD OF TRUSTEES EXCEPT SUCH POWERS OR DUTIES AS MAY HAVE BEEN SPECIFICALLY DELEGATED BY THE BOARD TO OTHER COMMITTEES OR OFFICERS, AND SHALL HAVE POWER TO AUTHORIZE THE SEAL OF THE CORPORATION TO BE AFFIXED TO ALL PAPERS WHICH MAY REQUIRE IT, AND SUCH OTHER POWERS AS THE BOARD MAY DELEGATE TO IT. THE EXECUTIVE COMMITTEE MAY HOLD MEETINGS AND MAKE RULES FOR THE CONDUCT OF ITS BUSINESS AS IT SHALL FROM TIME TO TIME DEEM NECESSARY OR ADVISABLE. THE PRESENCE OF AT LEAST FIVE MEMBERS OF THE EXECUTIVE COMMITTEE WHO ARE TRUSTEES SHALL CONSTITUTE A QUORUM AND MAY TAKE ACTION BY MAJORITY VOTE OF SUCH QUORUM. ALL ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD IN WRITING OR AT THE NEXT MEETING OF THE BOARD. CONSISTENT WITH THE PROVISIONS OF THE MASSACHUSETTS GENERAL LAWS, THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY TO: (I) CHANGE THE PRINCIPAL OFFICE OF THE CORPORATION; (II) AMEND THE BYLAWS; (III) ELECT THE STATUTORY OFFICERS OF THE CORPORATION INCLUDING THE PRESIDENT AND DIRECTOR, TREASURER, AND CLERK, OR FILL VACANCIES IN SUCH OFFICES; (IV) CHANGE THE NUMBER OF THE BOARD OF TRUSTEES OR FILL VACANCIES IN THE BOARD OF TRUSTEES; OR (V) REMOVE OFFICERS OR TRUSTEES FROM OFFICE. MEMBERS OR STOCKHOLDERS FORM 990, PART VI, LINES 6, 7A & 7B The WHOI Bylaws provide that the organization shall consist of a Board of Directors and separate corporate members. The bylaws further provide that there shall be not more than one hundred twenty elected members of the corporation at any one time. The Members of the Corporation are responsible to assure that the Corporation accomplishes its mission in the public interest. The Members shall have and exercise all rights and powers conferred upon members, generally, pursuant to Chapter 180 of the Massachusetts General Laws and such other powers and rights as are vested in them pursuant to the Articles of Organization of the Corporation or the organization's Bylaws, including, without limitation, the right to elect the Trustees from time to time. FORM 990 REVIEW PROCESS FORM 990, PART VI, LINE 11B WOODS HOLE OCEANOGRAPHIC INSTITUTION'S (WHOI) FORM 990 IS PREPARED WITH THE ASSISTANCE OF ITS OUTSIDE TAX ACCOUNTANTS. FOLLOWING WHOI'S INTERNAL MANAGEMENT'S REVIEW, A DRAFT VERSION OF THE RETURN IS DISTRIBUTED TO THE AUDIT AND RISK COMMITTEE FOR REVIEW AND COMMENTS. ONCE THE RETURN HAS BEEN UPDATED WITH INTERNAL MANAGEMENT AND THE AUDIT AND RISK COMMITTEE'S COMMENTS, EACH VOTING MEMBER OF THE GOVERNING BODY, THE PRESIDENT & DIRECTOR AND CHIEF FINANCIAL OFFICER, WILL RECEIVE COPIES OF FORM 990 FOR REVIEW. THE AUDITORS/TAX CONSULTANTS WILL THEN FINALIZE THE FORM 990. COPIES OF COMPLETED FORM 990 WILL BE DISTRIBUTED IN ELECTRONIC OR PAPER FORM TO MEMBERS OF THE GOVERNING BODY PRIOR TO FILING WITH THE IRS. A DESIGNEE OF THE CHIEF FINANCIAL OFFICER WILL BE RESPONSIBLE FOR MAINTAINING A CURRENT DISTRIBUTION LIST AND DISTRIBUTING THE COPIES. CONFLICT OF INTEREST COMPLIANCE FORM 990, PART VI, LINE 12C EACH TRUSTEE, OFFICER, AND KEY EMPLOYEE OF WOODS HOLE OCEANOGRAPHIC INSTITUTION ("WHOI") IS REQUIRED TO DISCLOSE ON AN ONGOING BASIS, IN WRITING, ON WHOI'S DISCLOSURE STATEMENT, (A) ANY FINANCIAL OR BUSINESS RELATIONSHIPS THAT HE OR SHE, OR ANY FAMILY MEMBER, HAS WITH WHOI OR ANY AFFILIATED ORGANIZATION OR WITH ORGANIZATIONS THAT DO BUSINESS WITH WHOI OR ANY AFFILIATED ORGANIZATION, (B) ANY ELECTED OR APPOINTED OFFICE OR POSITION THAT HE OR SHE, OR ANY FAMILY MEMBER, HOLDS IN A BRANCH OF GOVERNMENT OR IN A REGULATORY AGENCY HAVING AUTHORITY OR JURISDICTION OVER WHOI, OR (C) OTHER PERSONAL, FAMILIAL, FINANCIAL, OR BUSINESS RELATIONSHIPS THAT OTHERWISE COULD BE CONSTRUED TO AFFECT THE INDEPENDENT, UNBIASED JUDGMENT OF SUCH TRUSTEE OR OFFICER IN LIGHT OF HIS OR HER DECISION-MAKING AUTHORITY OR RESPONSIBILITIES FOR WHOI. THE DISCLOSURE STATEMENTS ARE FILED WITH WHOI'S CLERK AND THE CLERK WILL PREPARE A REPORT ANNUALLY OR MORE FREQUENTLY AS NECESSARY FOR THE TRUSTEES AND OFFICERS SUMMARIZING ANY CONFLICT ISSUES. THE AUDIT COMMITTEE REVIEWS THE DISCLOSURE REPORTS AND ANY CONFLICTS OR POTENTIAL CONFLICTS ARE BROUGHT TO THE EXECUTIVE COMMITTEE'S ATTENTION. THE EXECUTIVE COMMITTEE WILL DETERMINE WHETHER A CONFLICT EXISTS BASED ON WHOI'S CONFLICT OF INTEREST POLICY. IF A CONFLICT OF INTEREST IS DETERMINED, THE EXECUTIVE COMMITEE WILL EXERCISE ITS JUDGMENT ON THE BEST COURSE TO FOLLOW. COMPENSATION APPROVAL FORM 990, PART VI, LINE 15 THE ANNUAL COMPENSATION APPROVAL PROCESS CONSISTS OF A REVIEW BY THE ORGANIZATION'S INDEPENDENT COMPENSATION COMMITTEE, USING COMPARABLE, RELEVANT MARKET DATA FOR THE INSTITUTION'S POSITIONS OBTAINED FROM PUBLISHED SURVEYS, AND OTHER AVAILABLE SOURCES SUCH AS PEER ORGANIZATIONS' 990 FORMS. OTHER SURVEYS OF SPECIALIZED SKILL SETS OR EMPLOYEE ATTRIBUTES CRITICAL TO THE SUCCESS OF THE INSTITUTION WILL ALSO BE INCORPORATED AS NEEDED. MOREOVER, THE COMMITTEE MAY RELY ON MEMBERS OF WHOI MANAGEMENT AND OUTSIDE ADVISORS, CONSULTANTS, AND COUNSEL TO PROVIDE MARKET DATA REPORTS, ANALYSIS, AND OPINIONS WITH RESPECT TO COMPENSATION-RELATED MATTERS. ALL COMPENSATION DECISIONS MADE ARE DOCUMENTED IN THE MINUTES. PUBLIC DISCLOSURE OF DOCUMENTS FORM 990, PART VI, LINE 18 THE FORM 990 IS MADE AVAILABLE ON THE ORGANIZATION'S WEBSITE, UPON REQUEST, AND ON GUIDESTAR.ORG. FORM 990, PART VI, LINE 19 THE WOODS HOLE OCEANOGRAPHIC INSTITUTION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC THROUGH ITS WEBSITE. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 9 VEBA RELATED EXPENSES $3,870,038 Return on Investment for Retiree & Active Med. 864,581 NET PERIODIC BENEFIT COST (5,281,306) Change in SPLIT INTEREST AGREEMENTS 206,830 Change IN Net Assets (270,000) PENSION RELATED CHANGES OTHER THAN COST (9,266,440) ============ TOTAL $(9,876,297) WHOI TAX EXEMPT EMP WELFARE BEN TRUST 569 WOODS HOLE ROAD WOODS HOLE MA 02543 043282355 BEN. TRUST MA 501(C)(9) N/A WOODS HOLE true EOM Offshore LLC 20 Jonathon Bourne Dr Pocasset MA 02559 800436296 Bld Mooring MA WOODS HOLE UNRELATED 284108 813460 false false 0.84750 WHOI INVESTMENTS HOLDINGS LP 569 WOODS HOLD ROAD MA 14 WOODS HOLE MA 02543 371769504 INVESTING DE WOODS HOLE EXCLUDED 20929590 398657206 false 701315 false 1.00000 QUISSETT DEVELOPMENT CORP REALTY TRUST 569 WOODS HOLE ROAD WOODS HOLE MA 02543 266212595 LICENSING MA WOODS HOLE TRUST 1.00000 true CHARITABLE REMAINDER TRUST (1) SUPPORT MA WOODS HOLE TRUST true CHARITABLE REMAINDER TRUST (2) SUPPORT NY WOODS HOLE TRUST true CHARITABLE REMAINDER TRUST (3) SUPPORT FL WOODS HOLE TRUST true false true false false false false false false false false false false false false false false true true true WHOI TAX EXEMPT EMP WELFARE BEN TRUST Q 1018909 CASH Retirement Trust for Employees of WHOI R 6000000 CASH WHOI TAX EXEMPT EMP WELFARE BEN TRUST S 1500000 CASH