2013-12-18T15:34:00-06:00 2012-12-31 PricewaterhouseCoopers LLP 125 High Street Boston MA 02110 990 2012-01-01 042105850 WOODS HOLE OCEANOGRAPHIC INSTITUTION % DANA FERNANDEZ CONTROLLER WOOD 5084572000 569 WOODS HOLE ROAD MS 14 Suite WOODS HOLE MA 02543 JEFFREY FERNANDEZ 5084572000 2013-12-17 true 6175305000 2012 2016-02-25 16:41:14Z X SUSAN AVERY 569 WOODS HOLE ROAD MS 14 WOODS HOLE MA 02543 557473343 false X www.whoi.edu X 1930 MA SEE SCHEDULE O 39 37 1181 81 231606 174059 204529422 199587473 11097891 11192143 13687895 73174754 1702199 1264526 231017407 285218896 9549957 8829405 0 0 82840984 100330855 0 0 3247871 134168352 115037885 226559293 224198145 4458114 61020751 497650905 521961251 233521324 241629676 264129581 280331575 X SEE SCHEDULE O false false 190724841 8405594 221859 Sponsored and Institutional Research in oceanography and related fields: Of the 930 Sponsored Research Awards, 510 awards are from 9 Federal agencies and 420 are from 137 other sponsors. Institution Research sponsored 121 projects from unrestricted funds. In addition, Woods Hole Oceanographic Institution issued 528 publications in 2012. 9616379 423811 11192143 Education: Joint Graduate Program with M.I.T. in the marine sciences. In 2012 there were 128 Graduate Students, 26 degree recipients, 55 Post Doctoral Scholars and Fellows, 13 Geophysical Fluid Dynamics Program participants, 32 Summer Student Fellows and 75 Guest Students. 200341220 true true false true false false true false false true true false 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 true false false false true false false false true true true true true false true 175 0 true 1181 true true true false false false false false false false false false X 39 37 false false false false false false false true true false false true true true true true true true true false MA NY X X X DANA FERNANDEZ CONTROLLER 5082893505 MS 14 569 WOODS HOLE RD WOODS HOLE MA 02543 THOMAS B WHEELER 2.5 X RODNEY B BERENS 2.5 X MICHELE S FOSTER 2.5 X ROBERT A DAY JR 2.5 X ALFRED T DENGLER 2.5 X SARA G DENT 2.5 X ERIC H JOSTROM 2.5 X JEFFERSON E HUGHES JR 2.5 X COLEMAN P BURKE 2.5 X NANCY S NEWCOMB 2.5 X CARL E PETERSON 2.5 X HARDWICK SIMMONS 2.5 X RICHARD F SYRON 2.5 X STEPHEN E TAYLOR 2.5 X THOMAS J TIERNEY 2.5 X GEORGETTE C MCCONNELL 2.5 X GEOFFREY A THOMPSON 2.5 X PETER A ARON 2.5 X ROBERT C DUCOMMUN 2.5 X JAMES M CLARK JR 2.5 X SHERRI GOODMAN 2.5 X JOHN F OBRIEN 2.5 X JOSEPH F PATTON JR 2.5 X NEWTON PS MERRILL 2.5 X JOYCE K MOSS 2.5 X MICHELE G SCAVONGELLI 2.5 X ARTHUR YORKE ALLEN 2.5 X JOSEPH D ROXE 2.5 X JAMES A AUSTIN JR 2.5 X ROBERT L JAMES 2.5 X SUSAN K AVERY 40.0 X X 533864 0 107429 JAMES L DUNLAP 2.5 X STEVEN G HOCH 2.5 X THOMAS G NEMMERS 40.0 X X 108495 0 42210 JEAN C TEMPEL 2.5 X HAMILTON E JAMES 2.5 X ROBERT M BAYLIS 2.5 X JAMES P ROSENFIELD 2.5 X GARY ROUGHEAD 2.5 X EDMUND B WOOLLEN 2.5 X DAVID B SCULLY 2.5 X JEFFREY A FERNANDEZ 40.0 X 137434 0 52569 EMILY H SCHORER 40.0 X 182652 0 40049 DANA FERNANDEZ 40.0 X 165410 0 37584 LAURENCE MADIN 40.0 X 287102 0 82201 ROBERT MUNIER 40.0 X 246721 0 63739 ROBERT WELLER 40.0 X 236373 0 66353 JAMES YODER 40.0 X 234086 0 73492 PRIYA MCCUE 40.0 X 241333 0 56343 JOHN H TROWBRIDGE 40.0 X 221104 0 60387 WILLIAM JENKINS 40.0 X 215448 65536 SUSAN HUMPHRIS 40.0 X 200432 0 64548 DONALD ANDERSON 40.0 X 194881 0 71465 JUDY MCDOWELL 40.0 X 184730 0 62828 3390065 0 946733 254 true true false COLUMBIA CONSTRUCTION PO BOX 220 NORTH READING MA 01864 CONSTRUCTION SERVICE 7593810 RAYTHEON COMPANY 870 WINTER STREET WALTHAM MA 024511449 TECHNOLOGY SERVICES 3110495 SOUTHWEST RESEARCH INSTITUTE 6220 CULEBRA ROAD SAN ANTONIO TX 782280510 RESEARCH/DEV SERVICE 2981658 SCRIPPS INSTITUTION OF OCEANOGRAPHY 8622 KENNEL WAY LA JOLLA CA 92037 RESEARCH/DEV SERVICE 2704066 TELEDYNE WEBB RESEARCH 82 TECHNOLOGY PARK DRIVE EAST FALMOUTH MA 02536 ENGINEER/WASTE SVC 1997765 83 133485103 66102370 919884 199587473 EDUCATION 900099 11192143 11192143 11192143 2805300 2805300 0 180696 180696 554852 312441 242411 0 242411 242411 339251460 3060000 267232006 4710000 72019454 -1650000 70369454 231606 70137848 0 0 0 INFO CENTER INCOME 541900 221859 221859 OTHER INCOME 900099 619560 619560 841419 285218896 11414002 231606 73985815 0 8829405 8829405 0 0 1732462 535108 1150750 46604 0 64928195 58849719 5025684 1052792 7875041 7137792 609557 127692 20786710 15983005 4071735 731970 5008447 4539564 387672 81211 0 1607702 6026 1601626 50 493940 493940 0 0 2464607 2464607 5011991 4759379 240632 11980 339297 265747 33980 39570 18203396 17998606 190010 14780 500074 409363 87403 3308 0 4033976 1395436 2450912 187628 5945809 5772292 152715 20802 0 0 5150870 5150870 0 8324908 8011152 313756 2293225 1889952 403273 EQUIPMENT 9086200 8980780 97483 7937 OUTSIDE SERVICES 15095435 14578466 344178 172791 EQUIPMENT RENT & MAINTENANCE 7671342 7227226 418471 25645 SUBCONTRACTS 19719731 19719731 9095382 8301601 70670 723111 224198145 200341220 20609054 3247871 -1053636 -52249 14522647 15616907 4106212 1863500 27172694 25468551 21418 15621 0 0 1120089 991871 2204477 2194191 8154446 8027266 198359976 108876031 86387460 89483945 331731056 360777108 0 0 0 0 0 0 23284042 17574540 497650905 521961251 28446071 28003078 0 0 18809354 16041353 60613400 59119471 0 0 0 0 0 0 13000000 25000000 112652499 113465774 233521324 241629676 X -20904454 -26168451 202547002 224192568 82487033 82307458 264129581 280331575 497650905 521961251 X 61020751 -30623773 -14194984 X false true X true true true X 154056468 156486206 182249525 204529422 199587473 896909094 0 0 154056468 156486206 182249525 204529422 199587473 896909094 0 896909094 4460464 4254074 4380118 4720711 3540848 21356215 341665 341665 337128 595971 431947 1325380 841419 3531845 922138819 53728272 0.97264 0.97040 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false true 267 true 1892 false true 24697 true 3975 false 30831 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 WHO IS REGISTERED AS A LOBBYIST WITH THE U.S. SENATE AND THE U.S. HOUSE OF REPRESENTATIVES 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, 2012, WHOI PAID $8,115 IN COMPENSATION TO THIS INDIVIDUAL FOR LOBBYING ACTIVITIES. DIRECT CONTACT WITH LEGISLATORS, THEIR STAFFS, GOVERNMENT OFFICIALS, OR A LEGISLATIVE BODY PRODUCED COSTS OF $16,582 FOR DOMESTIC TRAVEL, MEALS, AND OFFICE RENT. THE ORGANIZATION PAID MEMBERSHIP DUES OF $1,080 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 ($267), PUBLICATIONS ($1,892), AND SEMINARS ($2,895). 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 1211 true 329699724 4707590 40348644 4450512 370305446 347898559 2493109 -7074013 13617931 329699724 317845815 7995383 38354918 16297557 347898559 264540552 788623 69276908 15348010 1412258 317845815 383839989 1638049 -101788792 6682238 6992993 5473463 264540552 0.24480 0.19680 0.55840 false false false 203724 1361868 1565592 774217 51649054 21248194 31175077 32033763 25011520 7022243 1069184 111268166 62616317 49721033 89483945 0 SUPPLEMENT RETIREMENT RESERVE 7822553 ACCRUED PENSION LIABILITY 105643221 113465774 249869003 -30623773 -2464607 -33088380 282957383 -312441 -312441 282644942 222045979 312441 312441 221733538 2464607 2464607 224198145 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. 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 INVESTMENT MANAGEMENT FEES (2,464,607) REVENUE INCLUDED ON RETURN BUT NOT ON BOOKS FORM 990, SCHEDULE D, PART XI, LINE 4B RENTAL EXPENSE (312,441) EXPENSES INCLUDED ON BOOKS BUT NOT ON RETURN FORM 990, SCHEDULE D, PART XII, LINE 2D RENTAL EXPENSE 312,441 EXPENSES INCLUDED ON RETURN BUT NOT ON BOOKS FORM 990, SCHEDULE D, PART XII, LINE 4B INVESTMENT MANAGEMENT FEES 2,464,607 Central America and the Caribbean 0 1 Program Services SHIP OPERATIONS 3317 Europe (Including Iceland and Greenland) 0 3 Program Services SHIP OPERATIONS 5551 North America 0 1 Program Services SHIP OPERATIONS 2700 East Asia and the Pacific 0 8 Program Services SCIENTIFIC RESEARCH 60960 Europe (Including Iceland and Greenland) 1 9 Program Services SCIENTIFIC RESEARCH 105008 Middle East and North Africa 1 6 Program Services SCIENTIFIC RESEARCH 18238 North America 1 6 Program Services SCIENTIFIC RESEARCH 5073 Sub-Saharan Africa 0 8 Program Services SCIENTIFIC RESEARCH 103843 Central America and the Caribbean 0 0 Investments 14257463 3 42 3 42 14562153 14562153 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, COLUMN (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 UNIVERSITY WAS FACILITATED BY A LOCALLY-IMPOSED ACCOUNTING PROCEDURE THAT SEPARATES COSTS INCURRED INSIDE ITS BORDERS FROM THOSE INCURRED OUTSIDE. true TUITION/FELLOWSHIPS & SCHOLARSHIPS 74 6759175 BOOK TUITION STIPENDS 68 2070230 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. X false true X X X X X false true false false false false false false false SUSAN K AVERY 381870 0 0 0 151994 0 87745 0 19684 0 641293 0 0 0 LAURENCE MADIN 262670 0 0 0 24432 0 69648 0 12553 0 369303 0 0 0 ROBERT WELLER 212455 0 0 0 23918 0 51766 0 14587 0 302726 0 0 0 JEFFREY A FERNANDEZ 137434 0 0 0 0 0 13327 0 39242 0 190003 0 0 0 SUSAN HUMPHRIS 176696 0 0 0 23736 0 48705 0 15843 0 264980 0 0 0 JAMES YODER 222042 0 0 0 12044 0 57049 0 16443 0 307578 0 0 0 THOMAS G NEMMERS 101227 0 0 0 7268 0 26926 0 15284 0 150705 0 0 0 DONALD ANDERSON 170978 0 0 0 23903 0 48537 0 22928 0 266346 0 0 0 PRIYA MCCUE 224098 0 0 0 17235 0 38283 0 18060 0 297676 0 0 0 ROBERT MUNIER 223173 0 0 0 23548 0 43645 0 20094 0 310460 0 0 0 JUDY MCDOWELL 162425 0 0 0 22305 0 47925 0 14903 0 247558 0 0 0 EMILY H SCHORER 165490 0 0 0 17162 0 28897 0 11152 0 222701 0 0 0 DANA FERNANDEZ 165226 0 0 0 184 0 26797 0 10787 0 202994 0 0 0 JOHN H TROWBRIDGE 197714 0 0 0 23390 0 48166 0 12221 0 281491 0 0 0 WILLIAM JENKINS 192021 0 23427 50093 15443 280984 0 HOUSING ALLOWANCE DESCRIPTION FORM 990, SCHEDULE J, LINE 1B 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. 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. FOR 2012, SUSAN AVERY RECEIVED $102,770. ACCRUALS FOR PLAN PARTICIPANTS ARE REFLECTED IN SCHEDULE J, PART II, COLUMN C. 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. CONTRIBUTIONS UNDER THE PLAN ARE INCLUDED IN SCHEDULE J, PART II, COLUMN C. A MHEFA 042456011 57586ECE9 2008-12-04 64403887 REFINANCED BOND ISSUE OF 6/29/2004 false false false A 5363410 0 64482881 0 0 0 592200 0 0 10190681 53700000 0 2011 true false true true A false false false true false 0.01276 0.00000 0.01276 false false false false A false false true true false false 0 false 0 false false A false TOTAL PROCEEDS OF ISSUE 0 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 12/31/2012. POLICIES SCHEDULE K, PART III, LINE 9 & PART IV, LINE 7 THE ORGANIZATION IS IN THE PROCESS OF ESTABLISHING WRITTEN PROCEDURES TO ENSURE THAT ALL NONQUALIFIED BONDS OF THE ISSUE ARE REMEDIATED IN ACCORDANCE WITH THE FEDERAL REQUIREMENTS AND TO MONITOR COMPLIANCE WITH ARBITRAGE, YIELD RESTRICTION, AND REBATE REQUIREMENTS. THESE WRITTEN PROCEDURES ARE EXPECTED TO BE ADOPTED IN 2013. SCHEDULE K, PART V WOODS HOLE OCEANOGRAPHIC INSTITUTION IS IN THE PROCESS OF IMPLEMENTING WRITTEN PROCEDURES TO ENSURE THAT VIOLATIONS OF FEDERAL TAX REQUIREMENTS ARE TIMELY IDENTIFIED AND CORRECTED THROUGH THE VOLUNTARY CLOSING AGREEMENT PROGRAM IF SELF-REMEDIATION IS NOT AVAILABLE UNDER APPLICABLE REGULATIONS. DONALD ANDERSON FORMER KEY EMPLOYEE EDUCATION X 25000 15000 false true false THOMAS NEMMERS OFFICER COMPUTER X 675 621 false true false 15621 22496 STIPEND/FELLOW EDUCATION 37630 EDUC. ASSIST EDUCATION X 21 509884 FMV X 1 410000 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 USED A THIRD PARTY TO PROCESS NONCASH CONTRIBUTIONS. WOODS HOLE OCEANOGRAPHIC INSTITUTION IS AMENDING ITS FORM 990 TO REFLECT UPDATED INFORMATION IN PART VII AND SCHEDULE J. 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, 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) 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. 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 APPOINTIVE 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 THEIR JUDGMENT ON THE BEST COURSE TO FOLLOW. COMPENSATION APPROVAL FORM 990, PART VI, LINE 15 THE ANNUAL COMPENSATION PROCESS CONSISTS OF 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 PENSION RELATED CHANGES OTHER THAN COST (11,209,011) RECLASSIFICATION OF ASSETS (100,000) CHANGE IN SPLIT INTEREST AGREEMENTS 526,807 DISTRIBUTION IN EXCESS OF INCOME EARNED (14,538,452) CHANGE IN PREPAID PENSION COST 1,064,289 REPORTING CHANGE DUE TO PENSION PLAN AMENDMENT 10,061,383 ============ TOTAL (14,194,984) EOM Offshore LLC 20 Jonathon Bourne Dr Pocasset MA 02559 800436296 BLD MOORING MA 907501 495412 WOODS HOLE 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 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 (1) SUPPORT FL WOODS HOLE TRUST true false false false false false false false false false false false false false false false true true false RETIREMENT TRUST FOR EMPLOYEES OF WHOI R 10540002 CASH WHOI TAX EXEMPT EMP WELFARE BEN TRUST Q 5986859 CASH