2011-11-14T13:04:09-06:00 2011-06-30 BLUM SHAPIRO & COMPANY PC 1001 HINGHAM STREET ROCKLAND MA 02370 990 2010-07-01 042702102 SEA EDUCATION ASSOCIATION INC SEAE 5085403954 PO BOX 6 WOODS HOLE MA 02543 SCOTT BRANCO 5085403954 2011-11-08 1 KEVIN T WHITE 7819821001 2011-11-08 2010 2016-03-07 17:11:31Z JOHN BULLARD PO BOX 6 WOODS HOLE MA 02543 6845872 0 X WWW.SEA.EDU X 1971 MA SEA IS AN EDUCATIONAL INSTITUTION DEDICATED TO EXPLORATION, UNDERSTANDING, AND STEWARDSHIP OF THE OCEANS, AND THEIR RELATIONSHIP WITH HUMAN AFFAIRS. SEA OFFERS STUDENTS A RIGOROUS, INTERDISCIPLINARY CURRICULUM WITH CHALLENGING VOYAGES OF SCIENTIFIC DISCOVERY AND PERSONAL GROWTH ABOARD TALL SHIPS. 28 25 138 23 0 0 1392235 1306329 3669320 5241091 446869 174367 29954 78857 5538378 6800644 616312 923363 0 0 2814408 3209144 0 0 347203 2315519 2803939 5746239 6936446 -207861 -135802 14445195 14552777 4315540 4123441 10129655 10429336 X SEA IS AN EDUCATIONAL INSTITUTION DEDICATED TO EXPLORATION, UNDERSTANDING, AND STEWARDSHIP OF THE OCEANS, AND THEIR RELATIONSHIP WITH HUMAN AFFAIRS. SEA OFFERS STUDENTS A RIGOROUS, INTERDISCIPLINARY CURRICULUM WITH CHALLENGING VOYAGES OF SCIENTIFIC DISCOVERY AND PERSONAL GROWTH ABOARD TALL SHIPS. 0 0 5013859 891833 4953566 175 STUDENTS PARTICIPATED IN "SEA SEMESTER", AN ACADEMIC, SCIENTIFIC, AND HANDS-ON PROGRAM DESIGNED TO EDUCATE COLLEGE STUDENTS ABOUT THE SCIENCE AND CULTURE OF THE SEA. THE STUDENTS COMPLETED THEIR STUDIES ON OUR CAMPUS IN WOODS HOLE, MASSACHUSETTS AND AT SEA ONBOARD ONE OF TWO 134 FOOT SAIL TRAINING VESSELS OPERATING IN THE ATLANTIC AND PACIFIC OCEANS. ONBOARD THE VESSELS, STUDENTS UTILIZED SCIENTIFIC EQUIPMENT TO COMPLETE SELF DESIGNED RESEARCH PROJECTS. AN ADDITIONAL 19 STUDENTS COMPLETED SIMILAR SEMESTER LONG PROGRAMS CONDUCTED IN COLLABORATION WITH ONE OTHER EDUCATIONAL INSTITUTION. 406793 31530 287525 SEA OFFERED THREE HIGH SCHOOL SUMMER SEMINARS FOCUSING ON THE COASTAL AND OFFSHORE MARINE ENVIRONMENT AROUND CAPE COD, AND A PROGRAM IN THE SOUTHERN CALIFORNIA BIGHT. 71 STUDENTS STUDIED THE MARINE ENVIRONMENT FROM A VARIETY OF PERSPECTIVES - SCIENTIFIC, HISTORICAL, LITERARY, AND NAUTICAL. 5420652 1 1 0 0 0 0 0 0 1 1 1 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 38 0 138 1 0 0 0 0 0 0 0 0 0 0 X 28 25 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X SCOTT BRANCO 5085403954 171 WOODS HOLE ROAD PO BOX 6 WOODS HOLE MA 02543 ASHLEY TOBIN 5.00 X 0 0 0 BARTLETT MCGUIRE 5.00 X 0 0 0 DR SCOTT DONEY 5.00 X 0 0 0 DR LAURIE ANN POHL 5.00 X 0 0 0 DON H MCLUCAS JR 5.00 X 0 0 0 KEN POTTER 5.00 X 0 0 0 DR AUDREY MEYER 5.00 X 0 0 0 DR RICHARD W MURRAY 5.00 X 0 0 0 RICHARD WILSON 5.00 X 0 0 0 JOHN E GERNGROSS JR 5.00 X 0 0 0 DR RONALD BAIRD 5.00 X 0 0 0 PHILIP R MCKNIGHT 5.00 X 0 0 0 RICHARD H HAWKINS 5.00 X 0 0 0 PETER B ELLIS 5.00 X 0 0 0 MARGARET E BRANDON 5.00 X 0 0 0 DR W JEFFREY BOLSTER 5.00 X 0 0 0 LEVIN H CAMPBELL JR 5.00 X 0 0 0 MEGHANN HORNER-SMITH 5.00 X 0 0 0 WALTER R BROWN 5.00 X 0 0 0 DR JIAN LIN 5.00 X 0 0 0 CHRISTOPHER H PENN 5.00 X 0 0 0 LAUREN MORGENS 5.00 X 0 0 0 KATHLEEN HEALY 5.00 X 0 0 0 JAY STERNE 5.00 X 0 0 0 JOHN K BULLARD 45.00 X X 77697 0 1741 LINDA COX MAGUIRE 5.00 X X 0 0 0 DR EDMUND B CABOT 5.00 X X 0 0 0 DR SUSAN E HUMPHRIS 5.00 X X 0 0 0 RICHARD M BURNES JR 5.00 X X 0 0 0 RICHARD S CHANDLER 5.00 X X 0 0 0 JACOB F BROWN II 5.00 X X 0 0 0 77697 0 1741 0 0 0 0 0 92014 1214315 84773 1306329 TUITION AND FEES 611600 5234942 5234942 HOUSING INCOME 611600 6149 6149 5241091 82395 82395 131098 39126 91972 91972 91972 8136 6102 2034 2034 OTHER INCOME 611600 48133 48133 ROOF ANTENNAE INCOME 531190 19044 19044 ALUMNI EVENTS 611600 9646 9646 76823 6800644 5241091 0 253224 923363 923363 96078 7205 68055 20818 2660733 1934711 531048 194974 43719 30937 8797 3985 211177 124738 64305 22134 197437 141507 41101 14829 7356 7356 26000 26000 57375 43145 9030 5200 19593 19593 272808 136004 95237 41567 99443 71243 22263 5937 110312 96452 12071 1789 314631 205914 97164 11553 47252 1081 32370 13801 178134 135509 42625 620556 591911 24948 3697 179130 165772 13358 FOOD 231408 231408 SHIPBOARD R&M 174675 174675 FUEL 146346 146346 SHIP SUPPLIES 132039 132039 ACADEMIC FEES 47832 47832 139049 78860 53270 6919 6936446 5420652 1168591 347203 499070 158501 94245 454083 1974 154500 27192 19843 18613 238470 141053 19643058 10911429 9070284 8731629 2935405 2665351 1430926 2105947 129016 121870 14445195 14552777 440376 458329 870455 786757 2454709 2328355 550000 550000 4315540 4123441 X 5734806 5758503 173675 341049 4221174 4329784 10129655 10429336 14445195 14552777 X -135802 435483 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4345529 8610 610775 130700 81894 4752320 4242843 37383 291220 147300 78617 4345529 5251235 41145 -807848 69151 172538 4242843 0.07400 0.89000 0.03600 0 0 190484 190484 3046894 2168501 878393 3045297 2742272 303025 13360383 6000656 7359727 8731629 BOND FUND 394480 F EQUITY FUND 1711467 F 2105947 6800644 6936446 -135802 465718 -30235 435483 299681 6318866 465718 -923363 -457645 6776511 30235 -6102 24133 6800644 6019185 6102 6102 6013083 923363 923363 6936446 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: THE SCHOOLS ENDOWMENT FUNDS ARE PRIMARILY INTENDED TO SUPPORT SCHOLARSHIPS FOR STUDENTS AND ACADEMIC PROGRAMS. PART XII, LINE 2D - OTHER ADJUSTMENTS: FINANCIAL AID -923,363. PART XII, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -6,102. PART XIII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 6,102. PART XIII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID 923,363. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 OUR STUDENTS COME FROM ALL PARTS OF THE UNITED STATES, AND THEREFORE, WE ARE NOT ABLE TO REACH ALL PARTS OF THE GENERAL COMMUNITY WHICH WE SERVE BY PUBLICIZING OUR RACIALLY NONDISCRIMINATORY POLICY THROUGH NEWSPAPERS OR BROADCAST MEDIA. INSTEAD, IN ADDITION TO PUBLICIZING OUR RACIALLY NONDISCRIMINATORY POLICY IN ALL OF OUR BROCHURES AND CATALOGUES DEALING WITH STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS, WE ALSO PUBLICIZE OUR POLICY ON OUR WEBSITE IN ORDER TO REACH ALL PARTS OF THE GENERAL COMMUNITY WHICH WE SERVE. GIVEN THESE FACTS AND CIRCUMSTANCES, THE ASSOCIATION HAS SATISFIED THE PUBLICITY REQUIREMENT OF REV. PROC. 75-50, 1975-2 C.B. 587, SECTION 4.03, AS IT HAS DEMONSTRATED THAT ITS PROMOTIONAL ACTIVITIES AND RECRUITING EFFORTS IN ALL GEOGRAPHIC AREAS ARE REASONABLY DESIGNED TO INFORM STUDENTS OF ALL RACIAL SEGMENTS IN ALL OF THE GENERAL COMMUNITIES WHICH WE SERVE. EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE SCHEDULE E, PART I, LINE 6 DURING THE CURRENT YEAR, THE ORGANIZATION RECEIVED FINANCIAL ASSISTANCE FROM THE NATIONAL OCEANANIC AND ATMOSPHERIC ADMINISTRATION (NOAA). THE ORGANIZATION RECEIVED GRANT FUNDS TO SUPPORT STUDENTS PARTICIPATING IN THE DIVERSITY PARTNERSHIP IN EDUCATION PROGRAM. 1 FINANCIAL AID FOR STUDENTS ATTENDING COLLEGE PROGRAMS 100 891833 FINANCIAL AID FOR STUDENTS ATTENDING HIGH SCHOOL PROGRAMS 24 31530 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: A MAJORITY OF FINANCIAL AID IS PROVIDED TO STUDENTS BASED ON FINANCIAL NEED, WHILE THERE ARE SMALL AMOUNTS AWARDED BASED ON MERIT. STUDENTS SUBMIT APPLICATIONS FOR ASSISTANCE TO THE ASSOCIATE DEAN OF STUDENTS AND FINANCIAL SERVICES. THE APPLICATIONS INCLUDE DOCUMENTATION AND PROOF OF NEED OR ACHIEVEMENT. THE ASSOCIATE DEAN OF STUDENTS AND FINANCIAL SERVICES REVIEWS THE APPLICATIONS AND SELECTS THE STUDENTS TO RECEIVE THE ASSISTANCE. THE SELECTIONS ARE COMMUNICATED TO THE BUSINESS OFFICE AND STUDENT BILLING IS ADJUSTED ACCORDINGLY. THE DIRECTOR OF FINANCE AND ADMINISTRATION REVIEWS THE STUDENT BILLING RECORDS TO DETERMINE FINANCIAL AID HAS BEEN APPLIED APPROPRIATELY. MASSACHUSETTS DEVELOPMENT FINANCE AGENCY 2003-09-01 1091000 PAYOFF OLD LOANS AND CONSTRUCT/RENOVATE REAL PROPERTY AND VESSELS 0 0 0 CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK 2003-10-15 2309000 PAYOFF OLD LOANS AND CONSTRUCT/RENOVATE REAL PROPERTY AND VESSELS 0 0 0 725027 1091000 27275 31806 1031919 2003 0 0 1 1 346618 2309000 46180 555820 1707000 2003 0 0 1 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 0 0 0 0 0.00000 0.00000 0.00000 1 0 1 0 NA 0 NA 0 0 0 1 0 NA 0 NA 0 0 DR EDMUND B CABOT CASH FLOW X 262500 262500 0 1 1 MR RICHARD M BURNES CASH FLOW X 262500 262500 0 1 1 MR JOHN K BULLARD CASH FLOW X 25000 25000 0 1 1 550000 X 22 84773 FMV AT DONATION 0 0 0 1 THIRD PARTY USE: PART I, LINE 32B: GIFTS OF MARKETABLE SECURITIES ARE RECEIVED BY A THIRD PARTY BROKER. THE BROKER HAS STANDING ORDERS TO SELL THE SECURITIES ON THE SCHOOL'S BEHALF AND FORWARD THE NET PROCEEDS TO THE SCHOOL. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION HAS MEMBERS DEFINED AS "OVERSEERS". THESE MEMBERS ELECT OFFICERS, TRUSTEES AND OVERSEERS TO THE ASSOCIATION'S GOVERNING BODY. OVERSEERS ARE MADE UP OF DONORS AND INDIVIDUALS WITH EXPERTISE IN THE FIELDS OF TEACHING, FUNDRAISING, FINANCES AND SAILING. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS HAVE THE RIGHT TO ELECT OFFICERS, TRUSTEES AND OVERSEERS TO THE ASSOCIATION'S GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 AND ALL REQUIRED SCHEDULES WERE DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. THE TREASURER AND DIRECTOR OF FINANCE AND ADMINISTRATION REVIEWED THE SECTION ON GOVERNANCE WITH THE BOARD DURING A BOARD MEETING, ALONG WITH OTHER SPECIFIC SECTIONS AND SCHEDULES OF THE FORM 990. THE BOARD WAS THEN GIVEN THE OPPORTUNITY TO REVIEW THE ENTIRE FORM 990 AND RELATED SCHEDULES FOR REASONABLENESS, AND TO FORWARD COMMENTS AND QUESTIONS TO THE TREASURER AND THE DIRECTOR OF FINANCE AND ADMINISTRATION. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY APPLIES TO ALL MEMBERS OF THE BOARD OF TRUSTEES AND ALL OFFICERS OF THE ORGANIZATION. THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE DISCLOSURES AND DETERMINES WHETHER A CONFLICT OF INTEREST EXISTS. ANY PERSONS IDENTIFIED AS HAVING A CONFLICT RELATIVE TO A TRANSACTION OR DECISION ON WHICH THE BOARD OF TRUSTEES IS DELIBERATING ARE EXCLUDED FROM SUCH DELIBERATIONS OR DECISION MAKING. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF TRUSTEES' EXECUTIVE COMMITTEE IS RESPONSIBLE FOR REVIEWING AND APPROVING THE COMPENSATION OF THE PRESIDENT. THE EXECUTIVE COMMITTEE UTILIZES COMPARABILITY DATA THAT DEMONSTRATED THE FAIR MARKET VALUE OF THE COMPENSATION IN QUESTION. THIS DATA MAY INCLUDE EXPERT COMPENSATION STUDIES BY INDEPENDENT FIRMS, WRITTEN JOB OFFERS FOR POSITIONS AT SIMILAR ORGANIZATIONS, DOCUMENTED TELEPHONE CALLS ABOUT SIMILAR POSITIONS AT BOTH NONPROFIT AND FOR-PROFIT ORGANIZATIONS, AND INFORMATION OBTAINED FROM THE IRS FORM 990 FILINGS OF SIMILAR ORGANIZATIONS. THE EXECUTIVE COMMITTEE DOCUMENTS ALL SUCH DELIBERATIONS AND DECISIONS MADE. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 IS AVAILABLE ON THE ORGANIZATION'S WEBSITE, WWW.SEA.EDU. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAINTAINS COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AT ITS CORPORATE OFFICE AT 171 WOODS HOLE ROAD, FALMOUTH MASSACHUSETTS. THESE DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. IN ADDITION, THE AUDITED FINANCIAL STATEMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE, WWW.SEA.EDU. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 465,718. INVESTMENT EXPENSES: -30,235. TOTAL TO FORM 990, PART XI, LINE 5: 435,483.