2015-11-13T16:05:42-06:00 2014-12-31 PricewaterhouseCoopers LLP 101 SEAPORT BOULEVARD Boston MA 02210 990 2014-01-01 042105850 WOODS HOLE OCEANOGRAPHIC INSTITUTION % DANA FERNANDEZ CONTROLLER WOOD 5084572000 569 WOODS HOLE ROAD MS 14 WOODS HOLE MA 02543 JEFFREY FERNANDEZ CFO/VP OPERATIONS 5084572000 2015-11-13 true ERIN COUTURE P01390592 6175305000 2014 2016-03-07 17:11:31Z DR MARK R ABBOTT 569 WOODS HOLE ROAD MS 14 WOODS HOLE MA 02543 329882151 false X www.whoi.edu X 1930 MA SEE SCHEDULE O 34 32 1091 126 -1336543 -1495810 194620964 215911523 4040652 4013139 7623980 6928436 723587 873346 207009183 227726444 7933599 8736755 0 0 100089697 95664469 0 0 1603396 115947922 137492012 223971218 241893236 -16962035 -14166792 561486144 588280155 201120421 254734141 360365723 333546014 X SEE SCHEDULE O false false 212613523 8307377 165554 Sponsored and Institutional Research in oceanography and related fields: Of the 1064 Sponsored Research Awards, 539 awards are from 8 Federal agencies and 525 are from 152 other sponsors. Institution Research sponsored 124 projects from unrestricted funds. In addition, Woods Hole Oceanographic Institution issued 628 publications in 2014. 10989228 429378 4013139 Education: Joint Graduate Program with M.I.T. in the marine sciences. In 2014 there were 122 Graduate Students, 18 degree recipients, 56 Post Doctoral Scholars and Fellows, 10 Geophysical Fluid Dynamics Program participants, 32 Summer Student Fellows, and 120 Guest Students. 223602751 true true false true false false true true false true true true false false true false true false false true true false false false false false false false true true true false false false false false true false false false false true false false false false true true true true false true 172 0 true 1091 true true true false false false false false false false false false X 34 32 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 NEWTON PS MERRILL CHAIRMAN OF THE BOARD 2.5 0.0 X X 0 0 0 JOHN F OBRIEN CHAIRMAN OF THE CORPORATION 2.5 0.0 X X 0 0 0 HARDWICK SIMMONS TREASURER/TRUSTEE 2.5 0.0 X X 0 0 0 JAMES A AUSTIN JR TRUSTEE 2.5 0.0 X 0 0 0 ROBERT M BAYLIS trustee(until 5/21/14) 2.5 0.0 X 0 0 0 RODNEY B BERENS TRUSTEE 2.5 0.0 X 0 0 0 COLEMAN P BURKE TRUSTEE 2.5 0.0 X 0 0 0 JAMES M CLARK JR TRUSTEE 2.5 0.0 X 0 0 0 ROBERT A DAY JR TRUSTEE 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 EDWARD C FORST TRUSTEE 2.5 0.0 X 0 0 0 MICHELE S FOSTER TRUSTEE 2.5 0.0 X 0 0 0 CHRISTINE FOX TRUSTEE (AS OF 10/10/14) 2.5 0.0 X 0 0 0 SHERRI W GOODMAN TRUSTEE 2.5 0.0 X 0 0 0 STEVEN G HOCH TRUSTEE 2.5 0.0 X 0 0 0 JEFFERSON E HUGHES JR 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 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 2.5 0.0 X 0 0 0 JOSEPH F PATTON JR TRUSTEE 2.5 0.0 X 0 0 0 CARL E PETERSON TRUSTEE(until 5/21/14) 2.5 0.0 X 0 0 0 JAMES P ROSENFIELD TRUSTEE 2.5 0.0 X 0 0 0 GARY ROUGHEAD TRUSTEE 2.5 0.0 X 0 0 0 DAVID B SCULLY 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 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 SUSAN K AVERY PRESIDENT/DIRECTOR 40.0 0.0 X X 444806 0 75771 THOMAS G NEMMERS EXEC PROJ MGR/CLERK OF CORP 40.0 0.0 X X 110923 0 44317 JEFFREY A FERNANDEZ CFO/VP OPERATIONS 40.0 0.0 X 303011 0 58739 LAURENCE MADIN EXECUTIVE VP/DIRECTOR 40.0 0.0 X 289725 0 48345 ROBERT MUNIER VP MAR FAC & OP 40.0 0.0 X 251846 0 44179 JAMES YODER VICE PRESIDENT OF ACADEMICS 40.0 0.0 X 240310 0 73993 ROBERT WELLER Department Chair 40.0 0.0 X 257333 0 52284 WILLIAM JENKINS SENIOR SCIENTIST 40.0 0.0 X 226289 0 52779 DONALD ANDERSON SENIOR SCIENTIST 40.0 0.0 X 204718 0 56760 CHRISTOPHER LAND VP Legal Affairs/Gen. Counsel 40.0 0.0 X 217282 0 19749 DANA FERNANDEZ CONTROLLER 40.0 0.0 X 172479 0 35944 SUSAN HUMPHRIS SENIOR SCIENTIST 40.0 0.0 X 203670 0 66973 2922392 0 629833 195 true true false TELEDYNE WEBB RESEARCH 49 EDGERTON DRIVE NORTH FALMOUTH MA 02556 SCIENTIFIC RESEARCH 3097314 RAYTHEON COMPANY 50 APPLE HILL DRIVE TEWKSBURY MA 01876 SCIENTIFIC RESEARCH 4051629 HYDROID INC 6 BENJAMIN NYE CIRCLE POCASSET MA 02559 Scientific Research 6487616 RANDOLPH BALDWIN INC 17 BLIGH STREET AYER MA 014320729 Scientific Research 3278452 SEA-BIRD ELECTRONICS 1808-136TH PLACE NE BELLEVUE WA 98005 Scientific Research 2171718 133 178611453 37300070 1376019 215911523 EDUCATION 900099 4013139 4008867 4272 4013139 1569959 0 -1340815 2910774 0 284898 284898 549788 401657 148131 0 148131 148131 104767527 2345000 100216858 1537192 4550669 807808 5358477 5358477 0 0 0 INFO CENTER INCOME 541900 165554 165554 INSURANCE RECOVERY 900099 221055 221055 OTHER INCOME 900099 53708 53708 440317 227726444 4174421 -1336543 8977043 0 8736755 8736755 0 0 1327172 456482 779814 90876 597469 359102 180300 58067 62672382 56814485 5122920 734977 13919674 12427083 1310801 181790 12324610 11003056 1160596 160958 4823162 4305980 454192 62990 1583194 1434129 149065 0 467699 33048 423938 10713 690662 690662 0 0 0 3171818 3171818 1458913 1449051 5750 4112 398115 345622 36460 16033 21808759 21613520 181634 13605 473754 413060 54729 5965 0 5473018 4811100 621239 40679 5799561 5619664 158034 21863 0 0 4795751 4795751 0 9803586 9534294 269292 3054511 2655979 395980 2552 EQUIPMENT 33918826 33830404 83845 4577 OUTSIDE SERVICES 11539537 11028537 407217 103783 EQUIPMENT RENT & MAINTENANCE 6409499 5918447 454950 36102 SUBCONTRACTS 18326334 18326334 8318475 7690868 573853 53754 241893236 223602751 16687089 1603396 190689 2069216 19810113 27464950 1681530 2938692 40202528 47435036 10270 5000 0 0 924574 792488 2463237 2733210 10675133 10564322 211293404 126297946 87335822 84995458 381828394 5151168 0 390804411 0 0 0 0 16363854 13326204 561486144 588280155 23355578 29188112 0 0 19410792 21163371 57560542 55941613 0 0 0 0 0 0 25000000 25000000 75793509 123441045 201120421 254734141 X 23088992 -24309867 251284582 267996339 85992149 89859542 360365723 333546014 561486144 588280155 X -14166792 34138599 -46791516 X false true X true true true X 182249525 204529422 199587473 194620964 215911523 996898907 0 0 182249525 204529422 199587473 194620964 215911523 996898907 0 996898907 4380118 4720711 3540848 1370579 2404645 16416901 341665 42205 383870 431947 1325380 841419 264749 440317 3303812 1017003490 40968755 0.98023 0.97696 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false true 20 true 1895 false true 19676 true 80 false 21671 false LOBBYING ACTIVITY EXPLANATION SCHEDULE C 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, 2014, WHOI PAID $1,780 IN COMPENSATION TO THIS INDIVIDUAL FOR LOBBYING ACTIVITIES. DIRECT CONTACT WITH LEGISLATORS, THEIR STAFFS, GOVERNMENT OFFICIALS, OR A LEGISLATIVE BODY PRODUCED COSTS OF $3,397 FOR DOMESTIC TRAVEL, MEALS, AND OFFICE RENT. THE ORGANIZATION PAID MEMBERSHIP DUES OF $80 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 $20 AND PUBLICATIONS $1,895. 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 1199 true X X X false 409037438 2764783 39329467 27209792 423921896 370305446 2142811 54879456 18290275 409037438 329699724 4707590 40348644 4450512 370305446 347898559 2493109 -7074013 13617931 329699724 317845815 7995383 38354918 16297557 347898559 0.22118 0.59275 0.18607 false false 26532 1201892 1228424 574821 60534571 23791242 37318150 36934548 29117097 7817451 991497 111029543 73389607 38631433 84995458 PVT EQTY,VENTURE CAP, & OTHER 45680633 F MULTI-STRATEGY INVESTMENT FUND 345123778 F 390804411 0 SUPPLEMENT RETIREMENT RESERVE 9922383 ACCRUED PENSION LIABILITY 112537666 DEFERRED FIXED RATE VARIANCE 980996 123441045 203568188 34138599 289475 -55038866 -20610792 224178980 3171818 375646 3547464 227726444 237704496 289475 401657 691132 237013364 3171818 1708054 4879872 241893236 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 ($55,160,542) CHANGE IN SPLIT INTEREST AGREEMENTS $20,366 Return on Investment for Retiree & Active Med. $1,737,426 Net Periodic Benefit Cost $71,927 Swap Interest Expense ($1,708,056) ROUNDING $13 ============== ($55,038,866) REVENUE INCLUDED ON RETURN BUT NOT ON BOOKS FORM 990, SCHEDULE D, PART XI, LINE 4B RENTAL EXPENSE ($401,657) RELEASE FROM RESTRICTION $777,303 ============= $375,646 EXPENSES INCLUDED ON BOOKS BUT NOT ON RETURN FORM 990, SCHEDULE D, PART XII, LINE 2D RENTAL EXPENSE $401,657 EXPENSES INCLUDED ON RETURN BUT NOT ON BOOKS FORM 990, SCHEDULE D, PART XII, LINE 4B Swap Interest Expense $1,708,054 Central America and the Caribbean 3 Program Services SHIP OPERATIONS 8200 Europe (Including Iceland and Greenland) 2 Program Services SHIP OPERATIONS 8439 East Asia and the Pacific 3 Program Services SCIENTIFIC RESEARCH 5988 Europe (Including Iceland and Greenland) 12 Program Services SCIENTIFIC RESEARCH 25829 Middle East and North Africa 1 Program Services SCIENTIFIC RESEARCH 6286 North America 2 Program Services SCIENTIFIC RESEARCH 1282 South America 5 Program Services SCIENTIFIC RESEARCH 6061 South Asia 1 Program Services SCIENTIFIC RESEARCH 359 Central America and the Caribbean Investments 16478781 29 29 16541225 16541225 true false true true true true 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. true TUITION/FELLOWSHIPS & SCHOLARSHIPS 153 6785501 BOOK TUITION STIPENDS 103 1951254 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 false false SUSAN K AVERY PRESIDENT/DIRECTOR 394534 0 50272 57598 0 18173 0 520577 0 0 0 THOMAS G NEMMERS EXEC PROJ MGR/CLERK OF CORP 110392 0 531 27632 0 16685 0 155240 0 0 0 JEFFREY A FERNANDEZ CFO/VP OPERATIONS 298219 0 4792 26000 0 32739 0 361750 0 0 0 LAURENCE MADIN EXECUTIVE VP/DIRECTOR 273883 0 15842 34500 0 13845 0 338070 0 0 0 ROBERT MUNIER VP MAR FAC & OP 250144 0 1702 25735 0 18444 0 296025 0 0 0 JAMES YODER VICE PRESIDENT OF ACADEMICS 240310 0 58301 0 15692 0 314303 0 0 0 ROBERT WELLER Department Chair 247504 0 9829 34500 0 17784 0 309617 0 0 0 WILLIAM JENKINS SENIOR SCIENTIST 218755 0 7534 34500 0 18279 0 279068 0 0 0 DANA FERNANDEZ CONTROLLER 172295 0 184 28416 0 7528 0 208423 0 0 0 SUSAN HUMPHRIS SENIOR SCIENTIST 200823 0 2847 46602 0 20371 0 270643 0 0 0 DONALD ANDERSON SENIOR SCIENTIST 199990 0 4728 34500 0 22260 0 261478 0 0 0 CHRISTOPHER LAND VP Legal Affairs/Gen. Counsel 215102 0 2180 0 19749 0 237031 0 0 0 FIRST CLASS TRAVEL FORM 990, SCHEDULE J, LINES 1A & 2 SUSAN AVERY AND JEFFREY FERNANDEZ TRAVELED FIRST CLASS VIA AIR AND 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 REIMBURSEMENT POLICY. HOUSING ALLOWANCE DESCRIPTION FORM 990, SCHEDULE J, LINES 1B & 2 AN ON-SITE RESIDENCE IS MADE AVAILABLE TO THE PRESIDENT/DIRECTOR AS AN ELEMENT OF HER EMPLOYMENT CONTRACT. IMPUTED INCOME IS CALCULATED FOR THIS HOUSING PROVISION AND IS REPORTED AS TAXABLE INCOME. 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 2014. CERTAIN INDIVIDUALS LISTED ON SCHEDULE J, PART II ARE ELIGIBLE TO PARTICIPATE IN A SUPPLEMENTAL RETIREMENT PLAN. UNDER THE PLAN, PARTICIPANTS ARE ENTITLED TO CERTAIN BENEFITS UPON RETIREMENT. No amounts were accrued or vested under the plan in 2014. A MHEFA 042456011 57586ECE9 2008-12-04 64403887 Refinanced Bond Issue of 6/29/2004 false false false A 8541268 0 64482881 0 0 0 592200 0 0 10190681 53700000 0 2011 true false true true A false false false true true 0.00165 0.00165 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. DONALD ANDERSON HIGHLY COMPENSATED EDUCATION LOAN X 25000 5000 false true true 5000 X 39 876019 FMV X 2 500000 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. FORM 990, SCHEDULE M, PART I, LINE 32B THE ORGANIZATION USES A THIRD PARTY REAL ESTATE BROKER TO PROCESS NONCASH REAL ESTATE CONTRIBUTIONS. 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 COMMUNICATE THIS UNDERSTANDING FOR THE BENEFIT OF SOCIETY. 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 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; CHAIRMAN OF THE CORPORATION; THE PRESIDENT AND DIRECTOR; THE TREASURER; THE CHAIRS OF THE BUSINESS DEVELOPMENT AND TECHNOLOGY TRANSFER COMMITTEE, COMPENSATION COMMITTEE, 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) SET COMPENSATION FOR MEMBERS OF THE DIRECTORATE OF THE INSTITUTION WITHOUT A VOTE BY THE FULL BOARD; (V) CHANGE THE NUMBER OF THE BOARD OF TRUSTEES OR FILL VACANCIES IN THE BOARD OF TRUSTEES; OR (VI) 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 COMMITTEE FOR REVIEW AND COMMENTS. ONCE THE RETURN HAS BEEN UPDATED WITH INTERNAL MANAGEMENT AND AUDIT 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 $7,316,610 Return on Investment for Retiree & Active Med. $1,737,426 Net Periodic Benefit Cost $71,927 CHANGE IN SPLIT INTEREST AGREEMENTS $20,366 Net Assets Released from Restrictions ($777,303) PENSION RELATED CHANGES OTHER THAN COST ($55,160,542) ============ TOTAL ($46,791,516) 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 903835 436689 false false 0.90000 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 false false false false false false false false false false false false false false false true true false WHOI TAX EXEMPT EMP WELFARE BEN TRUST Q 947823 CASH Retirement Trust for Employees of WHOI R 6166666 CASH