New England Aquarium

What it reported doing in 2024

Scientific research and advising: in 2024, the new england aquarium ('the aquarium") continued conducting applied ocean science research and technical advising/market-based solutions to help deliver on its mission toward a vision for a vital and vibrant ocean for future generations. Much of this was executed by the aquarium's dedicated ocean science research division, the anderson cabot center for ocean life (anderson cabot center").select 2024 notable highlights of anderson cabot center: the blueswell program, an ocean innovation start-up incubator completed its fourth cohort of ocean tech start-ups, and initiated its fifth cohort, during 2024. As co-founder and partner in this program, the aquarium (via technical consult from anderson cabot center experts) guides these tech start-ups in adopting ocean-friendly practices and metrics, AIDS in the diligence process, and serves as the fiscal administrator for the program. Upswell, another initiative that the aquarium co-founded, focused on expanding the amount of angel investment in blue technology startups that benefit the environment and create new jobs, hosted a discussion on coastal resilience featuring a panel of experts and published its third whitepaper, marine carbon dioxide removal: investing in science and innovation to build a responsible industry.the aquarium's marine conservation action fund (mcaf) celebrated 25 years of supporting locally-led ocean conservation across the globe. In 2024, mcaf awarded over $240,000 to 27 projects in 17 countries spearheaded by local leaders and their communities. These projects involved collecting critical data on imperiled ocean species, promoting local and indigenous-led marine management, fostering capacity sharing with communities, and sponsoring ocean leaders' participation at international conferences. In 2024, anderson cabot center researchers conducted boat-based research over three months to survey the critically endangered north atlantic right whale in the gulf of st. Lawrence. The team sighted 62 of the estimated population of 372 individuals, collected 23 blow samples, and three fecal samples for analysis. They also removed 19 sets of lost, abandoned, or discarded fishing gear an essential part of preventing future entanglements. During fieldwork in the gulf of st. Lawrence as well as in cape cod bay, anderson cabot center researchers deployed the latest drone technology to study right whales. The drone offers a non-invasive method to gather samples of blow and is used for photogrammetry measurements that allow researchers to better understand the health status of individual whales and the population in order to provide scientifically sound information to government and industry decisionmakers. Anderson cabot center researchers also continued conducting fieldwork needed to inform conservation science and management. In 2024, they tagged more than 250 sharks, tunas, and fishes (18 total species) over 120 days and 4,860 vessel hours in locations ranging from cape cod bay to North Carolina to puerto rico. They also flew aerial surveys totaling 600 hours in the new england region to document the abundance and distribution of marine mammals and turtles, identifying over 140 unique right whales. Experts across the aquarium, many of whom are in the anderson cabot center, published 28 total peer-reviewed papers/book chapters in scientific journals/book volumes in 2024, with an additional five peer-reviewed publications in collaboration with fellows and project leaders from the mcaf program.

Financial Efficiency

• Mission deployment rate: 87.7%; rating input score 88
• Program expense ratio: 77.4%; rating input score 77
• Fundraising efficiency: $2.54 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 28th percentile among comparable filings
• Pay-setting controls: 5 of 6 controls in place; rating input score 83
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Pass
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Limited
  • Conducts field audits: Limited
  • May suspend future funding: Limited
  • Requires financial reports: Limited
  • Conducts site visits: Limited
  • Requires grant agreements: Limited
  • May require repayment: Limited
• Grant itemization coverage: 100%; rating input score 100; 77th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 94.7%; rating input score 95; 47th percentile among comparable filings
• Governance controls: 8 of 9 controls in place; rating input score 89
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Fail
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -1.3%; rating input score 21; 21st percentile among comparable filings
• Total-asset coverage ratio: 2.29; rating input score 67; 67th percentile among comparable filings
• Liabilities to assets ratio: 0.24; rating input score 63; 63rd percentile among comparable filings
• Officer compensation ratio: 8.5%; rating input score 4; 4th percentile among comparable filings

Growth

• Program expense growth: 0.2% per year; rating input score 100; 8th percentile among comparable filings
• Revenue growth: 2.8% per year; rating input score 100; 21st percentile among comparable filings
• Asset growth: 2.9% per year; rating input score 100; 20th percentile among comparable filings