PALACIOS MARINE AGRICULTURAL RESEARCH INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- PALACIOS MARINE AGRICULTURAL RESEARCH INC (EIN 84-5079866)
- Tax period
- 2023-09-01 to 2024-08-31
- Filed
- 2025-03-05
- IRS object ID
- 202520649349301727
- Schema version
- 2023v6.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-03-05T16:34:05-06:00 | ReturnTs |
| Tax Period End | 2024-08-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 742520265 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COLLIER JOHNSON & WOODS PC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 555 N CARANCAHUA SUITE 1000 | AddressLine1Txt |
| City | CORPUS CHRISTI | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 784010839 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-09-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 845079866 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PALACIOS MARINE AGRICULTURAL RESEARCH | BusinessNameLine1Txt |
| Business Name Line2 | INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PALA | BusinessNameControlTxt |
| Phone | 3618819040 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 555 N CARANCAHUA SUITE 700 | AddressLine1Txt |
| City | CORPUS CHRISTI | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78401 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | CLARK C FLATO | PersonNm |
| Person Title | BOARD CHAIRMAN | PersonTitleTxt |
| Phone | 3618819040 | PhoneNum |
| Signature | 2025-02-28 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ROBERT TROY COOK | PreparerPersonNm |
| PTIN | P00822030 | PTIN |
| Phone | 3618849347 | PhoneNum |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | CLARK C FLATO | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 555 N CARANCAHUA ST 700 | AddressLine1Txt |
| City | CORPUS CHRISTI | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78401 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $5,679,393 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.PMARTEXAS.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2020 | FormationYr |
| Legal Domicile State | TX | LegalDomicileStateCd |
| Activity Or Mission | SEE SCHEDULE O | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 6 | VotingMembersIndependentCnt |
| Total Employee | 9 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,533,341 | PYContributionsGrantsAmt |
| CY Contributions Grants | $3,000,000 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $18,000 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $91,268 | CYProgramServiceRevenueAmt |
| PY Investment Income | $33,217 | PYInvestmentIncomeAmt |
| CY Investment Income | $72,508 | CYInvestmentIncomeAmt |
| PY Other Revenue | $56,141 | PYOtherRevenueAmt |
| CY Other Revenue | $51,514 | CYOtherRevenueAmt |
| PY Total Revenue | $2,640,699 | PYTotalRevenueAmt |
| CY Total Revenue | $3,215,290 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $729,438 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $151,510 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $967,057 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $1,263,945 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $1,137,928 | PYOtherExpensesAmt |
| CY Other Expenses | $1,498,856 | CYOtherExpensesAmt |
| PY Total Expenses | $2,834,423 | PYTotalExpensesAmt |
| CY Total Expenses | $2,914,311 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$193,724 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $300,979 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $4,161,718 | TotalAssetsBOYAmt |
| Total Assets EOY | $4,338,603 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $225,555 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $138,718 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $3,936,163 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $4,199,885 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | SEE SCHEDULE O | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $2,757,509 | ExpenseAmt |
| Grant | $151,510 | GrantAmt |
| Desc | SEE SCHEDULE O | Desc |
| Total Program Service Expenses | $2,757,509 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | 0 | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | 0 | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 14 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 9 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Form8899 Filedind | 0 | Form8899Filedind |
| Form1098 C Filed | 0 | Form1098CFiledInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 6 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CLARK C FLATO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 3618819040 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 555 N CARANCAHUA ST 700 | AddressLine1Txt |
| City | CORPUS CHRISTI | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 78401 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (11 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd |
|---|---|---|---|---|---|---|---|---|
| LARRY MCKINNEY | ||||||||
| DIRECTOR | 20.00 | Yes (X) | $138,030 | $0 | $0 | |||
| CLARK C FLATO | ||||||||
| BOARD CHAIRMAN | 8.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| STEPHEN W ALTHEIDE | ||||||||
| TREASURER | 5.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| DAVID HOYER | ||||||||
| VICE CHAIRMAN | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| JOHN J JOHNSON | ||||||||
| SECRETARY | 2.00 | Yes (X) | $0 | $0 | $0 | Yes (X) | ||
| DAVID F SUTTER | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| JOSE SEVILLA | ||||||||
| ADVISORY DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| KENNETH W TRAWICK | ||||||||
| DIRECTOR | 2.00 | Yes (X) | $0 | $0 | $0 | |||
| JAMES MEYN | ||||||||
| CHIEF EXECUTIVE OFFICER | 40.00 | Yes (X) | $116,154 | $0 | $0 | |||
| GAIL SUTTON | ||||||||
| DIRECTOR OF OPERAT. | 40.00 | $144,220 | $0 | $0 | Yes (X) | |||
| JOE FOX | ||||||||
| FORMER EXECUTIVE DIRECTOR | 40.00 | $222,078 | $0 | $0 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $620,482 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $0 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 4 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (2 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| TRI MORAN DEVELOPMENT INC | |||||
| 9815 RICABY DRIVE | HOUSTON | TX | 77064 | CONTRACT LABOR | $279,893 |
| TIMOTHY RICHARDSON | |||||
| 6707 OLD STAGE RD | ROCKVILLE | MD | 20852 | CONSULTING | $103,571 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 2 | CntrctRcvdGreaterThan100KCnt |
| All Other Contributions | $3,000,000 | AllOtherContributionsAmt |
| Total Contributions | $3,000,000 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | OYSTER SEED SALES | Desc |
| Business | 112512 | BusinessCd |
| Total Revenue Column | $91,268 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $91,268 | RelatedOrExemptFuncIncomeAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $91,268 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $22,989 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $22,094 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $895 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $51,514 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $51,514 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $51,514 | TotalRevenueColumnAmt |
| Exclusion | $51,514 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,513,622 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,464,103 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $49,519 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $49,519 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $49,519 | RelatedOrExemptFuncIncomeAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $3,215,290 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $162,881 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $52,409 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $151,510 | TotalAmt |
| Program Services | $151,510 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $254,184 | TotalAmt |
| Program Services | $230,953 | ProgramServicesAmt |
| Management And General | $23,231 | ManagementAndGeneralAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $222,078 | TotalAmt |
| Program Services | $222,078 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $688,479 | TotalAmt |
| Program Services | $614,409 | ProgramServicesAmt |
| Management And General | $74,070 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $31,380 | TotalAmt |
| Program Services | $30,492 | ProgramServicesAmt |
| Management And General | $888 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $67,824 | TotalAmt |
| Program Services | $62,135 | ProgramServicesAmt |
| Management And General | $5,689 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,585 | TotalAmt |
| Program Services | $15,585 | ProgramServicesAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $25,304 | TotalAmt |
| Management And General | $25,304 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,666 | TotalAmt |
| Management And General | $2,666 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,054 | TotalAmt |
| Program Services | $11,054 | ProgramServicesAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $186,103 | TotalAmt |
| Program Services | $172,423 | ProgramServicesAmt |
| Management And General | $13,680 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $145,362 | TotalAmt |
| Program Services | $142,137 | ProgramServicesAmt |
| Management And General | $3,225 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $41,682 | TotalAmt |
| Program Services | $41,472 | ProgramServicesAmt |
| Management And General | $210 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,326 | TotalAmt |
| Program Services | $3,326 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $536,834 | TotalAmt |
| Program Services | $529,647 | ProgramServicesAmt |
| Management And General | $7,187 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $20,042 | TotalAmt |
| Program Services | $20,042 | ProgramServicesAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| CONTRACT LABOR | $293,993 | $293,993 | |
| CONSULTING | $105,925 | $105,925 | |
| R&M | $86,821 | $86,821 | |
| ALL OTHER EXPENSES | $24,159 | $23,507 | $652 |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,914,311 | TotalAmt |
| Program Services | $2,757,509 | ProgramServicesAmt |
| Management And General | $156,802 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $453,590 | BOYAmt |
| EOY | $317,568 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $15,294 | BOYAmt |
| EOY | $42,944 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,811 | BOYAmt |
| EOY | $61,007 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $4,769,929 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $852,845 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,325,244 | BOYAmt |
| EOY | $3,917,084 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,364,779 | BOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,161,718 | BOYAmt |
| EOY | $4,338,603 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $152,793 | BOYAmt |
| EOY | $71,529 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $72,762 | BOYAmt |
| EOY | $67,189 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $225,555 | BOYAmt |
| EOY | $138,718 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,936,163 | BOYAmt |
| EOY | $4,199,885 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,936,163 | BOYAmt |
| EOY | $4,199,885 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,161,718 | BOYAmt |
| EOY | $4,338,603 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $300,979 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | -$37,080 | NetUnrlzdGainsLossesInvstAmt |
| Prior Period Adjustments | -$177 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | 0 | FSAuditedInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agricultural Research Org | Yes (X) | AgriculturalResearchOrgInd |
Agricultural Name And Address AgriculturalNameAndAddressGrp
College University Name CollegeUniversityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | TEXAS A&M UNIVERSITY - CORPUS CHRISTI | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| City | CORPUS CHRISTI | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $1,889,050 | OtherCostOrOtherBasisAmt |
| Depreciation | $251,978 | DepreciationAmt |
| Book Value | $1,637,072 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,880,879 | OtherCostOrOtherBasisAmt |
| Depreciation | $600,867 | DepreciationAmt |
| Book Value | $2,280,012 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $3,917,084 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| ACCRUED LEAVE | $57,413 |
| PREPAID RENT INCOME | $5,225 |
| OTHER LIABILITIES | $4,551 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $67,189 | TotalLiabilityAmt |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|
| B CARBON INC | ||||||||
| 4709 AUSTIN ST | HOUSTON | TX | 77004 | 854254549 | 501C3 | $120,000 | $0 | MARINE RESEARCH |
| OYSTER SOUTH | ||||||||
| 303 E HOWARD AVE | DECATUR | GA | 30030 | 813434897 | 501C3 | $8,500 | $0 | MARINE RESEARCH |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART IV ADDITIONAL INFORMATION | FormAndLineReferenceDesc |
| Explanation | PALACIOS MARINE AGRICULTURAL RESEARCH, INC. ONLY PROVIDES GRANT FUNDING TO VERIFIED NON-PROFITS THAT SHARE IN MARINE RESEARCH & RESTORATION EFFORTS OR PROVIDES SUPPORT TO LOCAL COMMUNITIES. EACH GRANTEE REQUEST IS REVIEWED FOR PURPOSE AND IMPACT. GRANTEES SIGN AGREEMENTS UPON ACCEPTANCE OF FUNDS. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | 0 | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JOE FOX | PersonNm |
| Title | FORMER EXECUTIVE DIRECTOR | TitleTxt |
| Base Compensation Filing Org | $222,078 | BaseCompensationFilingOrgAmt |
| Compensation Based On Rltd Orgs | $0 | CompensationBasedOnRltdOrgsAmt |
| Bonus Filing Organization | $0 | BonusFilingOrganizationAmount |
| Bonus Related Organizations | $0 | BonusRelatedOrganizationsAmt |
| Other Compensation Filing Org | $0 | OtherCompensationFilingOrgAmt |
| Other Compensation Rltd Orgs | $0 | OtherCompensationRltdOrgsAmt |
| Deferred Compensation Flng Org | $0 | DeferredCompensationFlngOrgAmt |
| Deferred Comp Rltd Orgs | $0 | DeferredCompRltdOrgsAmt |
| Nontaxable Benefits Filing Org | $0 | NontaxableBenefitsFilingOrgAmt |
| Nontaxable Benefits Rltd Orgs | $0 | NontaxableBenefitsRltdOrgsAmt |
| Total Compensation Filing Org | $222,078 | TotalCompensationFilingOrgAmt |
| Total Compensation Rltd Orgs | $0 | TotalCompensationRltdOrgsAmt |
| Comp Report Prior990 Filing Org | $0 | CompReportPrior990FilingOrgAmt |
| Comp Report Prior990 Rltd Orgs | $0 | CompReportPrior990RltdOrgsAmt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 3 | FormAndLineReferenceDesc |
| Explanation | PART III - OTHER ADDITIONAL INFORMATION METHOD USED FOR COMPENSATION EXPLANATION: COMPENSATION FOR THE DIRECTORS AND OFFICERS IS BASED ON RECOMMENDATIONS RECEIVED FROM LEGAL COUNSEL. LEGAL COUNSEL RETAINS QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS TO BASE THEIR RECOMMENDATIONS ON. THE RETAINED QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS BASE THEIR ADVICE ON MARKET SURVEYS, SITE VISITS, AND INDIVIDUAL PERSONAL INTERVIEWS WITH ALL PERSONNEL. OTHER INVESTIGATIONS AND PROCEDURES ARE PERFORMED AS THEY DEEM NECESSARY UNDER THE CIRCUMSTANCES. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (6 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990 - ORGANIZATION'S MISSION | THE CORPORATION IS ORGANIZED, AND SHALL BE OPERATED, EXCLUSIVELY FOR CHARITABLE, SCIENTIFIC, EDUCATIONAL, AND/OR OTHER EXEMPT PURPOSES SET FORTH IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, OR THE CORRESPONDING SECTION OF ANY FUTURE FEDERAL TAX CODE("CODE"). SPECIFICALLY, BUT WITHOUT LIMITATION OF THE FOREGOING, THE CORPORATION IS ORGANIZED FOR THE PURPOSE OF CONDUCTING AGRICULTURAL RESEARCH. THE PRIMARY CHARITABLE ACTIVITIES OF THE CORPORATION IS WITHOUT LIMITATION DIRECTLY CONDUCTING RESEARCH TARGETED TOWARD SAVING, RESTORING, AND ENHANCING THE EXISTING HABITATS OF OYSTERS AND OTHER MARINE ORGANISMS, DEVELOPING NEW HABITATS FOR SUCH MARINE ORGANISMS, REPLENISHING AND ASSISTING IN THE LONG TERM STABILITY OF MARINE ORGANISM STACKS, DEVELOPING ENVIRONMENTALLY SUSTAINABLE MARINE ORGANISM PRODUCTION AND HARVESTING METHODOLOGIES IN THE TEXAS GULF COAST AND ELSEWHERE, AS DETERMINED BY THE CORPORATION'S BOARD OF DIRECTORS, AND DISSEMINATING AND EDUCATING THE PUBLIC, BOTH DIRECTLY AND INDIRECTLY, REGARDING ITS RESEARCH OUTCOMES. THE CORPORATION HAS ENTERED INTO COLLABORATIVE AGREEMENTS SO THAT ITS AGRICULTURAL RESEARCH IS CONDUCTED IN CONJUNCTION WITH ONE OR MORE (A) LAND-GRANT COLLEGES AND UNIVERSITIES, AND/OR (B) NON-LAND-GRANT COLLEGES OF AGRICULTURE DESIGNATED AS SUCH BY THE NATIONAL INSTITUTE OF FOOD AND AGRICULTURE. |
| FROM 990, PART III, LINE 4A - FIRST ACCOMPLISHMENT | PALACIOS AGRICULTURAL RESEARCH, INC. WAS FORMED IN 2019 AS AN AGRICULTURAL RESEARCH ORGANIZATION WITH THE PURPOSE OF DIRECTLY ENGAGING IN WITH ONE OR MORE LAND-GRANT UNIVERSITIES AND/OR NON-LAND GRANT COLLEGES OF AGRICULTURE. PALACIOS MARINE AGRICULTURAL RESEARCH, INC.'S SOLE PROGRAM SERVICE IS CONDUCTING RESEARCH TARGETED TOWARD SAVING, RESTORING, AND ENHANCING THE EXISTING HABITATS OF OYSTERS AND OTHER MARINE ORGANISMS, DEVELOPING NEW HABITATS FOR SUCH MARINE ORGANISMS, REPLENISHING, AND ASSISTING IN THE LONG-TERM STABILITY OF MARINE ORGANISM STACKS, DEVELOPING ENVIRONMENTALLY SUSTAINABLE MARINE ORGANISM PRODUCTION, AND HARVESTING METHODOLOGIES. ALL EXPENSES OF THE ORGANIZATION ARE RELATED TO THIS PROGRAM SERVICE. A MOBILE HATCHERY HAS BEEN INSTALLED AND IS OPERATIONAL. A PERMANENT HATCHERY HAS ALSO BEEN CONSTRUCTED WITH INITIAL OPERATIONS AT 10X THAT OF THE MOBILE HATCHERY. |
| FORM 990, PART VI, SECTION B, LINE 11B | ORGANIZATION'S PROCESS TO REVIEW FORM 990 EACH DIRECTOR IS PROVIDED A COPY OF THE FORM 990. THE FORM 990 IS EXPLAINED IN DETAIL BY THE EXECUTIVE DIRECTOR AND ALL QUESTIONS RAISED BY INDIVIDUAL BOARD MEMBERS ARE DISCUSSED. WHEN THE PRESENTATION AND DISCUSSIONS ARE COMPLETED THE BOARD TAKES THE FORMAL ACTION TO APPROVE THE FORM 990. THE BOARD'S APPROVAL IS REFLECTED IN THE MINUTES OF THE MEETING. |
| FORM 990, PART VI, SECTION B, LINE 12C | ENFORCEMENT OF CONFLICTS POLICY THE ORGANIZATION REQUIRES EACH DIRECTOR TO ACKNOWLEDGE THE CONFLICT OF INTEREST POLICY AT LEAST ANNUALLY, AND AT LEAST ANNUALLY REPORT ANY ONGOING POTENTIAL CONFLICTS. EACH DIRECTOR IS REQUIRED TO INFORM THE BOARD ON EACH OCCASION A POTENTIAL CONFLICT ARISES. THE BOARD ADDRESSES THE SITUATION IN ACCORDANCE WITH THE WRITTEN CONFLICT OF INTEREST POLICY. |
| FORM 990, PART VI, SECTION B, LINE 15 | FORM 990, PART VI, LINE 15A - COMPENSATION PROCESS FOR TOP OFFICIAL SEE SCHEDULE J, PART I, LINE 3 FORM 990, PART VI, LINE 15B - COMPENSATION PROCESS FOR OFFICERS METHOD USED FOR COMPENSATION EXPLANATION: COMPENSATION FOR OTHER OFFICERS OR KEY EMPLOYEES IS BASED ON RECOMMENDATIONS RECEIVED FROM LEGAL COUSEL. LEGAL COUNSEL RETAINS QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS TO BASE THEIR RECOMMENDATIONS ON. THE RETAINED QUALIFIED INDEPENDENT COMPENSATION CONSULTANTS BASE THEIR ADVICE ON MARKET SURVEYS, SITE VISITS, AND INDIVIDUAL PERSONAL INTERVIEWS WITH ALL PERSONNEL. OTHER INVESTIGATIONS AND PROCEDURES ARE PERFORMED AS THEY DEEM NECESSARY UNDER THE CIRCUMSTANCES. FORM 990, PART XI, LINE 9 - OTHER CHANGES IN NET ASSETS EXPLANATION UNREALIZED GAIN/(LOSS) ON FIXED ASSETS $ 0 |
| FORM 990, PART VI, SECTION C, LINE 19 | FORM 990, PART VI, LINE 19 - GOVERNING DOCUMENTS DISCLOSURE EXPLANATION ALL DOCUMENTS REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC BY THE INTERNAL REVENUE SERVICE OR BY THE GOVERNING LAWS OF THE STATE OF TEXAS AS AVAILABLE BY WRITTEN REQUEST. THESE DOCUMENTS INCLUDE, BUT AE NOT LIMITED TO, THE CERTIFICATE OF FORMATION, FINANCIAL STATEMENTS, AND FORM 990. |
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