The Maritime Aquarium at Norwalk Inc

Nonprofit profile at a glance

EIN
061062912
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Norwalk, CT, USA
Phone
2038520700
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Museum, Museum Activities

Official website

Reported finances

Revenue
$20,483,968
Expenses
$17,173,437
Assets
$32,038,448
Liabilities
$4,031,109

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

33 people listed

Executive titles in this filing

  • JASON PATLIS (PRESIDENT & CEO)

Highest reported compensation

  • JASON PATLIS (PRESIDENT & CEO): $321,811 total reported compensation
  • DANIELLE TRANZILLO (CHIEF STRATEGY & GROWTH OFFICER): $244,441 total reported compensation
  • DAVID J TRUEDSON (COO): $242,380 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The maritime aquarium at norwalk seeks to ignite a connection to long island sound and the ocean to enrich the lives of all people and inspire action to protect our blue planet.

What it reported doing in 2024

The maritime aquarium at norwalk fulfills its mission through its live animal exhibits that feature approximately 7,500 animals, comprised of about 300 species, including those that are endangered, threatened or protected. With 75 exhibits, interactive and immersive experiences, touch tanks, and animal feedings, guests can better appreciate the wonders of the rich marine biodiversity of the long island sound the global ocean and learn how to serve as stewards of the environment. Complementing its exhibits and guest engagement, the aquarium conducts numerous research and conservation projects with both professional researchers and community scientists to better understanding the ecology of the long island sound and to restore its ecosystem to a healthy, sustainable condition. The aquarium further engages with government and institutional partners to support the local community as a cultural, educational and conservation leader.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 84
  • Accountability: 95
  • Sustainability: 65
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 66.6%; rating input score 67
  • Program expense ratio: 76.8%; rating input score 77
  • Fundraising efficiency: $23.47 raised per $1 spent on fundraising; rating input score 61; 61st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Missing
    • Independent consultant: Pass
    • Other Form 990s reviewed: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 16.2%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 1.87; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0.13; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 9.2%; rating input score 24; 24th percentile among comparable filings

Growth

  • Program expense growth: 3.3% per year; rating input score 100; 28th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 37th percentile among comparable filings
  • Asset growth: 3.3% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: 66.6% of revenue deployed · 76.8% of spending went to programs
  • Governance: 24 of 24 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $13.2M in reported program spending
  • Leadership: top reported pay $322K · 33 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $3.1M reported
  • Consistency: 39 of 39 current checks pass
  • Schedules: 8 filed schedules · includes major donors and executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • High — Sustainability: Officer compensation ratio scored 24/100.