Virginia Aquarium & Marine Science Center Foundation Inc

Nonprofit profile at a glance

EIN
521272309
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Virginia Beach, VA, USA
Phone
7573850280
Rating
82
Verdict
STRONG
Rating confidence
Standard

Official website

Reported finances

Revenue
$5,923,775
Expenses
$4,292,046
Assets
$38,919,913
Liabilities
$502,987

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

Leadership & pay

24 people listed

Executive titles in this filing

  • CYNTHIA WHITBRED-SPANOULIS (PRESIDENT & CEO)

People named in this filing

  • BUFFY BAREFOOT (TREASURER)
  • CAROLYN ROBERTSON (CHAIR OF MISSION & ADVOCACY COMMITTEE)
  • DANIEL R PETERSON (CHAIR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

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

Overview

Mission

To connect people to the marine environment, inspiring a more sustainable future. We aspire to be a driver in conservation, education, tourism, and sustainability, leading the charge to save wildlife and their ecosystems.

What it reported doing in 2024

Exhibits- to produce engaging, immersive exhibits in order to inspire conservation actions by creating emotional connections between guests and the animal population and enhance understanding of marine science through hands-on exploration.

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 99% 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.

The verdict

STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Fundraising costs are high for each dollar raised and program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 63
  • Transparency & Controls: 100
  • Accountability: 100
  • Sustainability: 86
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 61%; rating input score 61
  • Program expense ratio: 76.2%; rating input score 76
  • Fundraising efficiency: $8.8 raised per $1 spent on fundraising; rating input score 33; 33rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 27.5%; rating input score 83; 83rd percentile among comparable filings
  • Total-asset coverage ratio: 9.07; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 84; 84th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: -0.4% per year; rating input score 0; 13th percentile among comparable filings
  • Revenue growth: 2.8% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 6% per year; rating input score 100; 40th percentile among comparable filings

Details

  • Where the money goes: 61% of revenue deployed · 76.2% of spending went to programs
  • Governance: 23 of 23 board members independent · 7 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $3.3M in reported program spending
  • Leadership: top reported pay $0 · 24 people listed
  • Highest-paid contractors: 5 contractors listed · $2.2M reported
  • Consistency: 37 of 37 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.

  • Moderate — Financial Efficiency: Fundraising efficiency scored 33/100.
  • High — Growth: Program expense growth scored 0/100.