2016-11-07T15:27:31-06:00 2015-12-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2015-01-01 060706038 BERMUDA INSTITUTE OF OCEAN SCIENCES (BIOS) INC BERM 4412971880 17 BIOLOGICAL STATION ST GEORGES BD GE 01 WILLIAM B CURRY PRESIDENT/DIRECTOR 4412971880 2016-11-02 1 CHRISTOPHER W CASINI P00072754 2122862600 2016-11-02 2015 2017-02-10 21:41:12Z WILLIAM B CURRY 17 BIOLOGICAL STATION ST GEORGES BD GE 01 24431720 0 X WWW.BIOS.EDU X 1926 NY BIOS'S MISSION IS TO SEEK AND SHARE FUNDAMENTAL KNOWLEDGE OF THE OCEANS (CONTINUED IN SCHEDULE O) THROUGH STATE-OF-THE-ART SCIENTIFIC RESEARCH, WORLD-CLASS FIELD EXPEDITIONS, AND COMPREHENSIVE EDUCATIONAL EXPERIENCES. 31 31 54 38 -14916 -14916 10834871 15227395 2016324 2190723 3643810 1312161 190665 164120 16685670 18894399 593191 511989 0 0 5818812 6495807 0 0 514168 6352201 5775555 12764204 12783351 3921466 6111048 34398000 38520071 6664251 6237665 27733749 32282406 X BIOS'S MISSION IS TO SEEK AND SHARE FUNDAMENTAL KNOWLEDGE OF THE OCEANS THROUGH STATE-OF-THE-ART SCIENTIFIC RESEARCH, WORLD-CLASS FIELD EXPEDITIONS, AND COMPREHENSIVE EDUCATIONAL EXPERIENCES. 0 0 7848107 511989 SCIENTIFIC RESEARCH: THE RESEARCH CONDUCTED AT BIOS IS RELEVANT TO THE WATERS SURROUNDING BERMUDA, AS WELL AS GLOBAL EARTH SYSTEM, AND IS MULTIDISCIPLINARY, SPANNING THE BIOLOGICAL, CHEMICAL, GEOLOGICAL, AND PHYSICAL SCIENCES. THE MAJOR ACCOMPLISHMENTS OF THE LARGEST PROJECT AT BIOS, THE BERMUDA ATLANTIC TIME-SERIES STUDY, INCLUDES: PROVISION OF CLIMATE-CHANGE RELEVANT UNDERSTANDING OF OCEAN HEALTH AND FUNCTION; PUBLICATION OF MORE THAN TWENTY SCIENTIFIC PAPERS EACH YEAR; SUPPORT OF MORE THAN FIFTY NATIONAL AND INTERNATIONAL SCIENTIFIC COLLABORATORS; AND ACCESS OF SCIENTIFIC DATA TO SEVERAL THOUSAND RESEARCHERS EACH YEAR. IN SUPPORT OF THIS EFFORT, THE SHIP OPERATIONS AWARD CONTRIBUTES TO MULTIDISCIPLINARY SCIENTIFIC RESEARCH WITH NUMEROUS CRUISES TOTALING AT LEAST 150 DAYS AT SEA. 2747834 2190723 EDUCATION: FROM HANDS-ON PROGRAMS FOR BERMUDA K-12 STUDENTS TO GRADUATE INTERNSHIPS IN SHIPBOARD OCEANOGRAPHY, BIOS CONDUCTS A VARIETY OF EDUCATION PROGRAMS EACH YEAR THAT PREPARE THE NEXT GENERATION FOR THE SCIENTIFIC AND TECHNICAL CHALLENGES OF THE FUTURE. BIOS'S YEARLONG OCEAN ACADEMY PROVIDES EDUCATIONAL RESOURCES TO LOCAL TEACHERS AND OFFERS HANDS-ON LEARNING EXPERIENCES TO HUNDREDS OF STUDENTS EACH YEAR. BIOS PROVIDES UNIQUE EXPERIENTIAL LEARNING OPPORTUNITIES FOR UNDERGRADUATE AND GRADUATE STUDENTS FROM THE U.S., INCLUDING A 14-WEEK, FALL SEMESTER OF ACADEMIC COURSES IN THE MARINE SCIENCES WITH, IN 2015, AN ENROLLMENT OF 25 STUDENTS. EACH YEAR, BIOS HOSTS A 12-WEEK FALL INTERNSHIP PROGRAM THAT PROVIDES AUTHENTIC RESEARCH EXPERIENCE FOR 8 UNDERGRADUATE STUDENTS FROM THE U.S. BIOS ALSO OFFERS 3-WEEK SUMMER COURSES FOR STUDENTS FROM AROUND THE WORLD AND SUMMER RESEARCH INTERNSHIPS OF VARIABLE DURATION. TWENTY-TWO STUDENTS, PRIMARILY FROM THE U.S., CANADA AND THE U.K., PARTICIPATED IN SUMMER INTERNSHIPS AT BIOS IN 2015. 10595941 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 1 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 7 0 54 1 1 1 1 BD 0 0 0 0 0 0 0 0 X 31 31 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 NY X X VICTORIA MILLETT 4412971880 BIOS 17 BIOLOGICAL STATION ST. GEORGE'S BD GE 01 J WILLIAM CHARRIER CHAIRMAN 15.00 X X 0 0 0 IDWAL WYN HUGHES PHD VICE-CHAIRMAN 2.00 X X 0 0 0 WILLIAM H WILLIAMS VICE-CHAIRMAN 1.50 X X 0 0 0 KENNETH H BRINK PHD TRUSTEE 1.50 X 0 0 0 THOMAS M CHURCH PHD TRUSTEE 0.50 X 0 0 0 RITA R COLWELL PHD TRUSTEE 0.50 X 0 0 0 JOHN W FARRINGTON PHD TRUSTEE 0.50 X 0 0 0 DIANA H FRAZIER TRUSTEE 0.50 X 0 0 0 JAMES N GALLOWAY PHD TRUSTEE 0.50 X 0 0 0 LINDA K GLOVER TRUSTEE 5.00 X 0 0 0 DENNIS HANSELL PHD TRUSTEE 0.50 X 0 0 0 PAUL HANLE TRUSTEE 0.50 X 0 0 0 GARY H ISAKSEN PHD TRUSTEE 0.50 X 0 0 0 ALAN MCGOWAN TRUSTEE 1.00 X 0 0 0 WILLIAM RUSSEL PHD TRUSTEE 0.50 X 0 0 0 JAMES N STANARD PHD TRUSTEE 0.50 X 0 0 0 DEBORAH K STEINBERG PHD TRUSTEE 0.50 X 0 0 0 ANTHONY WILLIAMS TRUSTEE 0.50 X 0 0 0 MICHAEL A BUTT TRUSTEE 0.50 X 0 0 0 GRAHAM COLLIS TRUSTEE 0.50 X 0 0 0 CHARLES COOPER TRUSTEE 0.50 X 0 0 0 BRIAN DUPERREAULT TRUSTEE 0.50 X 0 0 0 RICHARD FERRETT TRUSTEE 0.50 X 0 0 0 ALLAN WB GRAY TRUSTEE RESIGNED APRIL 2015 0.50 X 0 0 0 MICHAEL D HAMER PHD TRUSTEE 0.75 X 0 0 0 CHRISTOPHER MAYBURY TRUSTEE 0.50 X 0 0 0 BRENDAN MCDONAGH TRUSTEE RESIGNED NOV. 2015 0.50 X 0 0 0 BRIAN M O'HARA TRUSTEE 0.50 X 0 0 0 JONATHAN REISS TRUSTEE 0.50 X 0 0 0 RALPH E RICHARDSON TRUSTEE 0.50 X 0 0 0 HON GERALD DE SIMONS OBE TRUSTEE 0.50 X 0 0 0 IAN STRECKER TRUSTEE 0.50 X 0 0 0 LADY JUDY VEREKER TRUSTEE 3.00 X 0 0 0 GEORGE A WARDMAN TRUSTEE THRU APRIL 2015 0.50 X 0 0 0 WILLIAM CURRY PRESIDENT AND CEO 40.00 X 358749 0 20561 WILLIAM WELTON CHIEF FINANICAL AND OPERAT 40.00 X 201707 0 18842 VICTORIA MILLETT TREASURER/CONTROLLER 40.00 X 152250 0 11931 GILLIAN M S HOLLIS SECRETARY 40.00 X 84775 0 13885 NICHOLAS BATES SENIOR SCIENTIST 40.00 X 216895 0 17211 AUDREY ROGERSON DIRECTOR OF RESOURCE DEVELOPMENT 40.00 X 152250 0 0 RONALD HARELSTAD MARINE SUPERINTENDENT 40.00 X 136043 0 16502 PENELOPE BARNES EDUCATION DIRECTOR, UNIVER 40.00 X 132902 0 16437 RICHARD SMITH CHIEF ENGINEER 40.00 X 120410 0 4562 ANDREA BODNAR SENIOR SCIENTIST 40.00 X 156408 0 19401 1712389 0 139332 11 0 1 0 TELEDYNE WEBB RESEARCH 49 EDGERTON DRIVE N FALMOUTH MA 02556 SLOCUM GLIDER 482305 BERNHARD SCHULTE SHIPMANAGEMENT RICHMOND HOUSE 12 PAR LA VILLE HAMILTON BD HM HX SHIPMANAGEMENT SERVCIES 215822 SOL PETROLEUM BERMUDA LTD 25 FERRY ROAD ST. GEORGE'S BD GE 01 DIESEL FUEL 214742 NORTH FLORIDA SHIPYARDS INC PO BOX 3255 JACKSONVILLE FL 32206 REPAIRS/DRY DOCK EXP. 177597 FREDERICK P MEENS 74-A NORTH SHORE ROAD UNIT A-1 HAMILTON BD CR 01 REPAIRS TO VARIOUS BUILDINGS 176127 11 6889410 8337985 50420 15227395 EDUCATION 611710 2190723 2190723 2190723 181125 181125 416811 248976 167835 167835 -14916 182751 6393288 5262252 1131036 1131036 1131036 22378 26093 -3715 -3715 18894399 2190723 -14916 1491197 443512 443512 68477 68477 1096808 220321 876487 4436150 3756588 326509 353053 195999 148868 35427 11704 523277 443857 43250 36170 243573 185002 44026 14545 64192 64192 60000 60000 465394 452976 12418 8465 4257 4208 240385 193024 36378 10983 28928 28388 540 370648 370648 354370 293901 45448 15021 46318 44510 1808 109705 109705 1204131 1072889 131242 253447 240122 13325 SUPPLIES AND FOOD 945701 934216 7360 4125 REPAIRS & MAINTENANCE 628744 600809 13062 14873 INTERNS/STIPENDS 592266 525214 18580 48472 FUEL 365703 365703 37158 28762 7922 474 12783351 10595941 1673242 514168 2142013 2442290 628192 257832 1043649 5235714 223174 521637 35892 16294 30102 17342 31887473 15787168 16115453 16100305 14179525 13928657 34398000 38520071 753698 715734 287125 319504 3891366 3650785 1732062 1551642 6664251 6237665 X 10816926 11255421 7189889 11272387 9726934 9754598 27733749 32282406 34398000 38520071 6111048 -1562391 0 X X 0 1 X 1 1 1 X 4916198 10516198 10162749 10834871 15231016 51661032 4916198 10516198 10162749 10834871 15231016 51661032 6871665 44789367 218618 488998 828084 615000 597936 2748636 7325 7325 54416993 20420894 0.82310 0.90390 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 14817400 27664 -250731 684192 13910141 14785342 26869 613739 608550 14817400 13418829 26900 1876332 536719 14785342 12248819 26400 1610210 466600 13418829 10521175 2026900 156673 455929 12248819 0.09660 0.70130 0.20210 0 0 486850 486850 16706898 7996688 8710210 5331207 3833044 1498163 9362518 3957436 5405082 16100305 X 17447827 -1562391 115819 -1446572 18894399 0 18894399 12899170 115819 115819 12783351 0 12783351 PART V, LINE 4: THE PURPOSE OF BIOS'S ENDOWMENT FUNDS IS TO PROVIDE LONG-TERM SUPPORT FOR THE INSTITUTION. INCOME FROM DONOR-RESTRICTED ENDOWMENT FUNDS IS UTILIZED BY BIOS IN ACCORDANCE WITH DONOR INTENT. PART X, LINE 2: BIOS RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY WHEN THEY ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT BIOS HAD NO UNCERTAIN INCOME TAX POSITIONS THAT REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. BIOS IS NO LONGER SUBJECT TO EXAMINATION BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO 2012. PART XI, LINE 2D - OTHER ADJUSTMENTS: FACILITY FEE NETTED AGAINST GUEST SERVICE REVENUE: $-159,250 COST OF GOODS SOLD RECLASSED TO FORM 990, PART VIII, LINE 10B: $26,093 RENTAL EXPENSE RECLASSED TO FORM 990, PART VIII, LINE 6B: $248,976 PART XII, LINE 2D - OTHER ADJUSTMENTS: FACILITY FEE NETTED AGAINST GUEST SERVICE REVENUE: $-159,250 COST OF GOODS SOLD RECLASSED TO FORM 990, PART VIII, LINE 10B: $26,093 RENTAL EXPENSES RECLASSED TO FORM 990, PART VIII, LINE 6B: $248,976 1 BERMUDA 1 96 PROGRAM SERVICES SCIENTIFIC RESEARCH AND EDUCATION 10527464 EUROPE 0 0 GRANTS 68477 1 96 0 0 1 96 10595941 0 10595941 EUROPE TO FACILITATE SCIENTIFIC RESEARCH 4000 WIRE TRANSFER EUROPE TO FACILITATE SCIENTIFIC RESEARCH 51343 CHECK EUROPE TO FACILITATE SCIENTIFIC RESEARCH 13134 WIRE TRANSFER 0 3 0 0 0 0 0 0 PART I, LINE 2: USE OF GRANT FUNDS OUTSIDE THE USA ARE SUBJECT TO THE SAME SCRUTINY AS ARE FUNDS INSIDE THE USA. THE FUNDS ARE ISSUED TO THE ORGANIZATION ONLY, BASED ON AN APPROVED PROPOSAL, PERIODIC REPORTS ARE REQUIRED AND FUNDS ARE ONLY RELEASED ON A REIMBURSEMENT BASIS. PART I, LINE 3: ACCRUAL METHOD 1 WOODS HOLE OCEANOGRAPHIC INSTITUTE 569 WOODS HOLE ROAD BOSTON MA 02543 042105850 501(C)(3) 98371 TO FACILITATE SCIENTIFIC RESEARCH MARINE BIOLOGICAL LABORATORY PO BOX 3218 BOSTON MA 022413218 042104690 501(C)(3) 253071 TO FACILITATE SCIENTIFIC RESEARCH THE REGENTS OF THE UNIVERSITY OF CALIFORNIA 8622 DISCOVERY WAY 0210 LA JOLLA CA 920930210 956006144 501(C)(3) 27562 TO FACILITATE SCIENTIFIC RESEARCH CLIMATE CENTRAL 1 PALMER SQUARE SUITE 330 PRINCETON NJ 08542 261797336 501(C)(3) 47610 TO FACILITATE SCIENTIFIC RESEARCH UNIVERSITY OF NORTH CAROLINA AT ASHEVILLE 219 PHILLIPS HALL CPO 1430 ONE UNIVERSITY HEIGHTS ASHEVILLE NC 28804 566002370 501(C)(3) 15354 TO FACILITATE SCIENTIFIC RESEARCH 5 0 PART I, LINE 2: BIOS MAINTAINS ACCOUNTING PROCEDURES GOVERNING ALL EXPENDITURES INCLUDING GRANT EXPENDITURES IN ITS ACCOUNTING AND POLICIES PROCEDURE MANUAL. GRANT FUNDING IS PROVIDED CONTRACTUALLY VIA SUBAWARD OR GRANT AGREEMENT VIA BIOS. FEDERAL PROJECT GRANT FUNDING FOR SUBAWARDS REQUIRE MONITORING IN TWO AREAS - (A) SUBRECIPIENT INSTITUTION COMPLIANCE WITH THE AUDITING REQUIREMENTS OF OMB CIRCULAR A-133 AND (B) SUBRECIPIENT PROVIDES PIS WITH ROUTINE AND REVIEWING OF TECHNICAL REPORTS AND REVIEW OF INVOICING IN RELATION TO BUDGET. CONTRACTUAL AGREEMENTS DICTATE SCOPE, PERIOD OF PERFORMANCE, AUDIT AND COMPENSATION (COST REIMBURSEMENT) REQUIREMENTS. ALL AGREEMENTS ARE TO FACILITATE SCIENTIFIC RESEARCH IN ACCORDANCE WITH THE ORGANIZATION'S MISSION. THIS IS CONSISTENTLY APPLIED IN US EXPENDITURES AND NON US EXPENDITURES ALIKE. X X 1 1 X X X 0 0 0 0 0 0 0 0 0 WILLIAM CURRY PRESIDENT AND CEO 262500 0 0 0 96249 0 0 0 20561 0 379310 0 0 0 WILLIAM WELTON CHIEF FINANICAL AND OPERAT 192102 0 0 0 9605 0 0 0 18842 0 220549 0 0 0 VICTORIA MILLETT TREASURER/CONTROLLER 145000 0 0 0 7250 0 0 0 11931 0 164181 0 0 0 NICHOLAS BATES SENIOR SCIENTIST 207060 0 0 0 9835 0 0 0 17211 0 234106 0 0 0 AUDREY ROGERSON DIRECTOR OF RESOURCE DEVELOPMENT 152250 0 0 0 0 0 0 0 0 0 152250 0 0 0 RONALD HARELSTAD MARINE SUPERINTENDENT 134876 0 0 0 1167 0 0 0 16502 0 152545 0 0 0 ANDREA BODNAR SENIOR SCIENTIST 156408 0 0 0 0 0 0 0 19401 0 175809 0 0 0 PART I, LINE 1A PART I LINE 1A: HOUSING ALLOWANCES ARE PROVIDED TO SUPPLEMENT THE EXCESSIVE COST OF HOUSING IN BERMUDA. MOST STAFF ARE ABLE TO BENEFIT FROM THE RELATIVELY LOW COST HOUSING AVAILABLE ON CAMPUS. ALL ALLOWANCES PROVIDED ARE INCLUDED IN W-2'S WHERE REQUIRED. X DATA STORAGE DEVICES 1 50420 COST 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTOR IN PART 1, COLUMN (B) OF SCHEDULE M. FORM 990, PART VI, SECTION B, LINE 11 BIOS HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. WHEN THE FORM 990 HAS BEEN PREPARED, REVIEWED BY MANAGEMENT AND IS READY TO BE FILED WITH THE INTERNAL REVENUE SERVICE, IT'S SUBMITTED ELECTRONICALLY TO THE AUDIT COMMITTEE AND THE CHAIRMAN OF THE FINANCE COMMITTEE FOR REVIEW AND COMMENTS PRIOR TO ITS SUBMISSION. EACH COMMENT OR ISSUE, IF ANY, IS DOCUMENTED AND ADDRESSED UNTIL THE RETURN IS FINALIZED AND APPROVED FOR FILING FORM 990, PART VI, SECTION B, LINE 12C BIOS INC. HAS A CONFLICT OF INTEREST POLICY GOVERNING ANY INTERESTED PERSON (ANY DIRECTOR, PRINCIPAL OFFICER, KEY EMPLOYEE OR MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS, WHO HAS DIRECT OR INDIRECT FINANCIAL INTEREST) IS AN INTERESTED PERSON, I.E. NOT INDEPENDENT. A CONFLICT OF INTEREST MAY EXIST IF AN INTERESTED PERSON HAS DIRECTLY OR INDIRECTLY THROUGH BUSINESS, INVESTMENT OR FAMILY, (A) AN OWNERSHIP/INVESTMENT INTEREST IN AN ENTITY OF WHICH BIOS HAS A TRANSACTION ARRANGEMENT, (B) A COMPENSATION ARRANGEMENT WITH BIOS OR ANY ENTITY OR INDIVIDUAL WITH WHICH BIOS HAS A TRANSACTION OR ARRANGEMENT, OR (C) A POTENTIAL OWNERSHIP OR INVESTMENT INTEREST IN OR COMPENSATION ARRANGEMENT. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF THE FINANCIAL INTEREST AND BE GIVEN OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTORS AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD POWERS. UPON DISCLOSURE OF THE FINANCIAL INTEREST AND MATERIAL FACTS, THE BOARD MINUS THE INTERESTED PERSON WILL DISCUSS AND VOTE UPON DETERMINATION OF THE EXISTENCE OF A CONFLICT OF INTEREST. IF A CONFLICT OF INTEREST IS DEEMED TO EXIST THE GOVERNING BOARD WILL TAKE APPROPRIATE CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15 BIOS INC. HAS ESTABLISHED A WRITTEN COMPENSATION POLICY FOR THEIR COMPENSATION COMMITTEE TO FOLLOW IN ESTABLISHING THE COMPENSATION FOR THE CEO, EXECUTIVE DIRECTOR, TOP MANAGEMENT OFFICIAL, OTHER OFFICERS OR KEY EMPLOYEES. COMPENSATION OF THE PRESIDENT AND DIRECTOR IS DETERMINED BY THE COMPENSATION COMMITTEE BASED ON REVIEW OF COMPARABLE STATISTICS AND OTHER SOURCES AS THEY DEEM APPROPRIATE. COMPENSATION OF OTHER OFFICERS AND KEY MANAGEMENT PERSONNEL ARE DETERMINED BY THE PRESIDENT AND DIRECTOR WITH THE ADVICE OF THE CHAIRMAN. COMPENSATION IS REVIEWED IN THE COMPENSATION COMMITTEE MEETINGS. THE DECISIONS ARE DOCUMENTED AND MAINTAINED IN THE MINUTES OF THE COMPENSATION COMMITTEE. THIS PROCESS WAS LAST UNDERTAKEN IN FISCAL YEAR 2015. FORM 990, PART VI, SECTION C, LINE 19 BIOS INC. MAKES ITS FORM 990 AVAILABLE FOR THE PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE BY POSTING IT ON GUIDESTAR.ORG AND OTHER SIMILAR TYPES OF WEBSITES. IN ADDITION FORM 990, THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, ARTICLES OF INCORPORATION AND BY-LAWS ARE AVAILABLE UPON WRITTEN REQUEST AT BIOS, 17 BIOLOGICAL STATION, ST. GEORGE GE 01, BERMUDA, OR BY CALLING THE ORGANIZATION DIRECTLY AT (441) 297-1880. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATREMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS DID NOT CHANGE FROM THE PRIOR YEAR.