TY 2024 Form 990

- TIN:

Form990

Department of the TreasuryInternal Revenue Service

Return of Organization Exempt From Income Tax

Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)

Do not enter social security numbers on this form as it may be made public.

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public Inspection

A For the 2024 calendar year, or tax year beginning 01-01-2024 , and ending 12-31-2024

BCheck if applicable: Address change Name change Initial return Final return/terminated Amended return Application pending

CName of organization
MONTEREY BAY AQUARIUM FOUNDATION

Doing business as

Number and street (or P.O. box if mail is not delivered to street address)
886 CANNERY ROW

Room/suite

City or town, state or province, country, and ZIP or foreign postal code
MONTEREY, CA93940

D Employer identification number

94-2487469

E Telephone number

G Gross receipts $ 1,048,853,755

F Name and address of principal officer:
JULIE PACKARD
886 CANNERY ROW
MONTEREY,CA93940

Tax-exempt status: 501(c)(3) 501(c) ( ) (insert no.) 4947(a)(1) or 527

Website:

WWW.MONTEREYBAYAQUARIUM.ORG

H(a)

Is this a group return for
subordinates? Yes No

H(b)

Are all subordinates
included?

Yes No

If "No," attach a list. See instructions.

H(c)

Group exemption number

K Form of organization: Corporation Trust Association Other

L Year of formation: 1978

M State of legal domicile: CA

Part I

Summary

1	Briefly describe the organization’s mission or most significant activities: TO INSPIRE OCEAN CONSERVATION AND ADVOCATE FOR THE OCEAN AND ITS WILDLIFE.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	18
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	17
5	Total number of individuals employed in calendar year 2024 (Part V, line 2a) ......	5	658
6	Total number of volunteers (estimate if necessary) .............	6	1,213
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	834,117
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	283,050

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	70,908,550	105,608,470
9	Program service revenue (Part VIII, line 2g) .........	70,441,774	74,298,102
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	13,683,172	26,431,211
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	872,401	1,797,868
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	155,905,897	208,135,651
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	733,951	270,148
14	Benefits paid to or for members (Part IX, column (A), line 4).....	0	0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	56,132,278	64,762,064
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	132,349	193,037
b	Total fundraising expenses (Part IX, column (D), line 25) 7,330,757
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	51,772,274	58,301,664
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	108,770,852	123,526,913
19	Revenue less expenses. Subtract line 18 from line 12.......	47,135,045	84,608,738
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	739,524,414	837,664,477
21	Total liabilities (Part X, line 26).............	24,319,238	23,191,407
22	Net assets or fund balances. Subtract line 21 from line 20.....	715,205,176	814,473,070

Part II

Signature Block

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.

Sign Here

	Signature of officer	Date

	Type or print name and title

Paid Preparer Use Only

Print/Type preparer's name

Preparer's signature

Date

Check if
self-employed

PTIN

Firm's name

Firm's EIN

Firm's address

Phone no.

May the IRS discuss this return with the preparer shown above? See Instructions. ..........YesNo

For Paperwork Reduction Act Notice, see the separate instructions.

Cat. No. 11282Y Form 990 (2024)

Form 990 (2024)

Page 2

Part III

Statement of Program Service Accomplishments

Check if Schedule O contains a response or note to any line in this Part III..............

Briefly describe the organization’s mission: THE MISSION OF THE MONTEREY BAY AQUARIUM IS TO INSPIRE CONSERVATION OF THE OCEAN. MILLIONS OF PEOPLE WORLDWIDE DRAW INSPIRATION FROM THE AQUARIUM AND LOOK TO US TO ADVOCATE FOR THE OCEAN AND ITS WILDLIFE.

Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ..................... Yes No

If "Yes," describe these new services on Schedule O.

Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ........................... Yes No

If "Yes," describe these changes on Schedule O.

Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.


4a	(Code: ) (Expenses $ 77,717,140 including grants of $ 75,209 ) (Revenue $ 74,443,503 )
	ANIMAL CARE AND AQUARIUM EXPERIENCESEE SCHEDULE O FOR FULL DESCRIPTION

4b	(Code: ) (Expenses $ 8,734,219 including grants of $ 111,148 ) (Revenue $ 6,000 )
	EDUCATION AND OUTREACHSEE SCHEDULE O FOR FULL DESCRIPTION

4c	(Code: ) (Expenses $ 14,047,417 including grants of $ 83,791 ) (Revenue $ 637,760 )
	CONSERVATION AND SCIENCESEE SCHEDULE O FOR FULL DESCRIPTION

4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses100,498,776

Form 990 (2024)

Page 3

Part IV

Checklist of Required Schedules

Yes

Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A Click to see attachment

List of Attached Documents:

// Content

.....................

Yes

Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. Click to see attachment

List of Attached Documents:

// Content

...

Yes

Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I Click to see attachment

List of Attached Documents:

// Content

.............

Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II Click to see attachment

List of Attached Documents:

// Content

.........

Yes

Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part III Click to see attachment

List of Attached Documents:

// Content

Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part I Click to see attachment

List of Attached Documents:

// Content

.........................

Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part II Click to see attachment

List of Attached Documents:

// Content

....

Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part III Click to see attachment

List of Attached Documents:

// Content

..............

Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IV Click to see attachment

List of Attached Documents:

// Content

..............

Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......

Yes

If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.

Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment

List of Attached Documents:

// Content

...................

11a

Yes

Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VII Click to see attachment

List of Attached Documents:

// Content

.......

11b

Yes

Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIII Click to see attachment

List of Attached Documents:

// Content

.......

11c

Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IX Click to see attachment

List of Attached Documents:

// Content

............

11d

Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part X Click to see attachment

List of Attached Documents:

// Content

11e

Yes

Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part X Click to see attachment

List of Attached Documents:

// Content

11f

Yes

12a

Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XII Click to see attachment

List of Attached Documents:

// Content

......................

12a

Yes

Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment

List of Attached Documents:

// Content

12b

Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E

14a

Did the organization maintain an office, employees, or agents outside of the United States? .....

14a

Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV......... Click to see attachment

List of Attached Documents:

// Content

14b

Yes

Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV..... Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV... Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. .... Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............ Click to see attachment

List of Attached Documents:

// Content

Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III................... Click to see attachment

List of Attached Documents:

// Content

20a

Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....

20a

If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?

20b

Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II..... Click to see attachment

List of Attached Documents:

// Content

Yes

Form 990 (2024)

Page 4

Part IV

Checklist of Required Schedules (continued)

Yes

Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........ Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment

List of Attached Documents:

// Content

Yes

24a

Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............

24a

Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...

24b

Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............

24c

Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...

24d

25a

Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I ....

25a

Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................

25b

Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part II...........

Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?

If "Yes," complete

Schedule L, Part III.........................

Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):

A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................

28a

A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....

28b

A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................

28c

Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M.. Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M ................. Click to see attachment

List of Attached Documents:

// Content

Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I

Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................

Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............ Click to see attachment

List of Attached Documents:

// Content

Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1......................... Click to see attachment

List of Attached Documents:

// Content

Yes

35a

Did the organization have a controlled entity within the meaning of section 512(b)(13)?

35a

Yes

If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ... Click to see attachment

List of Attached Documents:

// Content

35b

Yes

Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment

List of Attached Documents:

// Content

Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI Click to see attachment

List of Attached Documents:

// Content

Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............

Yes

Part V

Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........

Yes

Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..

216

Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .

Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................

Yes

Form 990 (2024)

Page 5

Part V

Statements Regarding Other IRS Filings and Tax Compliance (continued)

Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................

658

If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Yes

Did the organization have unrelated business gross income of $1,000 or more during the year?...

Yes

If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...

Yes

At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..

If "Yes," enter the name of the foreign country:
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).

Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..

Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?

If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............

Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...

If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................

Organizations that may receive deductible contributions under section 170(c).

Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................

Yes

If "Yes," did the organization notify the donor of the value of the goods or services provided? .....

Yes

Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................

If "Yes," indicate the number of Forms 8282 filed during the year ....

Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?

Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..

If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................

If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................

Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........

Sponsoring organizations maintaining donor advised funds.

Did the sponsoring organization make any taxable distributions under section 4966?........

Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...

Section 501(c)(7) organizations. Enter:

Initiation fees and capital contributions included on Part VIII, line 12 ...

10a

Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities

10b

Section 501(c)(12) organizations. Enter:

Gross income from members or shareholders .........

11a

Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........

11b

12a

Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?

12a

If "Yes," enter the amount of tax-exempt interest received or accrued during the year.

12b

Section 501(c)(29) qualified nonprofit health insurance issuers.

Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.

13a

Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....

13b

Enter the amount of reserves on hand ............

13c

14a

Did the organization receive any payments for indoor tanning services during the tax year?.....

14a

If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..

14b

Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.

Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.

Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.

Form 990 (2024)

Page 6

Part VI

Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.

Check if Schedule O contains a response or note to any line in this Part VI..............

Section A. Governing Body and Management

Yes

Enter the number of voting members of the governing body at the end of the tax year

If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.

Enter the number of voting members included in line 1a, above, who are independent

Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................

Yes

Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .

Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .

Did the organization become aware during the year of a significant diversion of the organization’s assets? .

Did the organization have members or stockholders? ................

Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................

Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................

Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:

The governing body? .......................

Yes

Each committee with authority to act on behalf of the governing body? ............

Yes

Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......

Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)

Yes

10a

Did the organization have local chapters, branches, or affiliates? ............

10a

If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?

10b

11a

Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................

11a

Yes

Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....

12a

Did the organization have a written conflict of interest policy? If "No," go to line 13.......

12a

Yes

Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................

12b

Yes

Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................

12c

Yes

Did the organization have a written whistleblower policy? ...............

Yes

Did the organization have a written document retention and destruction policy? .........

Yes

Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?

The organization’s CEO, Executive Director, or top management official ...........

15a

Yes

Other officers or key employees of the organization ................

15b

Yes

If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.

16a

Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................

16a

If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............

16b

Section C. Disclosure

List the states with which a copy of this Form 990 is required to be filed

Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.

Own website Another's website Upon request Other (explain in Schedule O)

Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.

State the name, address, and telephone number of the person who possesses the organization's books and records:
ANN MARIE NEMANICH886 CANNERY ROW MONTEREY,CA93940 (831) 648-4800

Form 990 (2024)

Page 7

Part VII

Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors

Check if Schedule O contains a response or note to any line in this Part VII..............

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees

1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet

List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."

List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.

List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

See the instructions for the order in which to list the persons above.

Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)		(D) Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(1) TEGAN ACTON...................................................................... BOARD CHAIR	1.00 .................	X	X	0	0	0
(2) CAROLINE GETTY...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(3) MRC GREENWOOD...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(4) MIKE GUPTA...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(5) BEN JEALOUS...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(6) ERIC JENSEN...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(7) MICHAEL MANTELL...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(8) MARTHA MARTINEZ...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(9) STEPHEN NEAL...................................................................... TRUSTEE (THRU MAY 24)	1.00 .................	X		0	0	0
(10) SUSAN ORR...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(11) CHRIS SCHOLIN...................................................................... EX-OFFICIO TRUSTEE	1.00 .................	X		0	0	0
(12) GREG SILVERMAN...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(13) LOUISE STEPHENS...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(14) MARK WAN...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(15) LISA WHITE...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(16) GIDEON YU...................................................................... TRUSTEE	1.00 .................	X		0	0	0
(17) ALISHA JOHNSON WILDER...................................................................... TRUSTEE	1.00 .................	X		0	0	0

Form 990 (2024)

Page 8

Part VII

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)				(D) Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(18) ANNELIESE OLSON........................................................................ TRUSTEE	1.00 .......................	X				0	0	0
(19) JULIE PACKARD........................................................................ VICE CHAIR & EXECUTIVE DIRECTOR	28.00 .......................	X	X			417,615	0	53,031
(20) BARBARA WRIGHT........................................................................ SECRETARY	1.00 .......................		X			0	0	0
(21) BRADLEY RUTHERFORD........................................................................ EXEC VP AND DEPUTY DIRECTOR	40.00 .......................		X			412,221	0	56,615
(22) ANN MARIE NEMANICH........................................................................ CHIEF FINANCIAL OFFICER	40.00 .......................		X			308,983	0	45,107
(23) ROBERT YOUNG........................................................................ VP OF FINANCE (THRU 8/30/24)	40.00 .......................		X			116,193	0	30,974
(24) KARIN KIESSLING........................................................................ ASSIST SECRETARY (BOD)	40.00 .......................		X			122,756	0	22,983
(25) ARMANDO VIDAL ARATA........................................................................ ASSIST SECRETARY (BOD)	40.00 .......................		X			88,645	0	21,371
(26) CHRISTINA FEKECI........................................................................ CHIEF DEVELOPMENT OFFICER	40.00 .......................			X		423,464	0	50,603
(27) DANA ALLEN-GREIL........................................................................ CHIEF MARKETING OFFICER	40.00 .......................			X		272,627	0	67,557
(28) MARGARET SPRING........................................................................ CHIEF CONSERVATION & SCI OFFICER	40.00 .......................			X		265,929	0	55,799
(29) JON HOECH........................................................................ VP OF ANIMAL CARE	40.00 .......................			X		231,559	0	46,702
(30) MARY-BETH REDMOND-JONES........................................................................ VP OF EXHIBS/FACS (THRU 11/21/24)	40.00 .......................			X		215,395	0	23,222
(31) FERNANDA SAMPAIO........................................................................ VP OF MARKETING	40.00 .......................			X		206,735	0	26,344
(32) MARIA HEMMESCH........................................................................ VP OF PEOPLE & CULTURE	40.00 .......................			X		202,931	0	59,485
(33) NICOLE SANCHEZ........................................................................ CHIEF PEOPLE & CULTURE OFFICER	40.00 .......................			X		153,836	0	17,458
(34) PAULINE PARRISH........................................................................ CONTROLLER	40.00 .......................				X	217,754	0	35,895
(35) JENNIFER DIANTO KEMMERLY........................................................................ VP OF GLOBAL OCEAN CONSERVATION	40.00 .......................				X	233,244	0	39,604
(36) AIMEE DAVID........................................................................ VP US & CA OCEAN CONSERVATION	40.00 .......................				X	212,803	0	35,532
(37) ANN DABOVICH........................................................................ VP OF GIFT PLANNING	40.00 .......................				X	205,624	0	32,942
(38) SOO DEAN........................................................................ VP MEMBER & DONOR RELATIONS	40.00 .......................				X	189,903	0	60,401

1b	Sub-Total..............
c	Total from continuation sheets to Part VII, Section A..
d	Total (add lines 1b and 1c).........	4,498,217	0	781,625

Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 145

Yes

Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............

For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................

Yes

Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........

Section B. Independent Contractors

Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.

(A) Name and business address	(B) Description of services	(C) Compensation
FRANK M BOOTH INC 4200 DOUGLAS BLVD GRANITE BAY,CA95746	CONSTRUCTION	7,412,026
BLACH CONSTRUCTION COMPANY 2244 BLACH PLACE SUITE 100 SAN JOSE,CA95131	CONSTRUCTION	5,764,401
SERVICE SYSTEMS ASSOCIATES INC 4624 CENTRAL PARK BLVD SUITE 100 DENVER,CO80238	RETAIL AND CULINARY SERVICE	4,438,176
IMPACTS EXPERIENCE 207 E OHIO ST STE 407 CHICAGO,IL60611	ADVERTISING	4,047,976
POWER ENGINEERING CONSTRUCTION CO 1501 VIKING STREET STE 200 ALAMEDA,CA94501	CONSTRUCTION	3,139,325
2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 84

Form 990 (2024)

Page 9

Part VIII

Statement of Revenue

Check if Schedule O contains a response or note to any line in this Part VIII.............

(A)
Total revenue

(B)
Related or
exempt
function
revenue

(D)
Revenue
excluded from
tax under sections
512 - 514

1a	Federated campaigns..		1a
b	Membership dues..		1b	13,514,139
c	Fundraising events..		1c
d	Related organizations		1d
e	Government grants (contributions)		1e	4,111,183

f	All other contributions, gifts, grants, and similar amounts not included above		1f	87,983,148

g	Noncash contributions included in lines 1a - 1f:$		1g	1,228,891

h Total. Add lines 1a-1f.......		105,608,470

		Business Code
2a	ADMISSION FEES	712130	66,684,055	66,684,055
b	TOURS, EVENTS, OTHER	712130	7,614,047	7,614,047
c
d
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		74,298,102

3 Investment income (including dividends, interest, and othersimilar amounts) ......			12,554,798		171,176	12,383,622
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........
			(i) Real	(ii) Personal
6a	Gross rents	6a	1,406,203
b	Less: rental expenses	6b	1,060,437
c	Rental income or (loss)	6c	345,766
d	Net rental income or (loss).......			345,766			345,766
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a	853,534,080
b	Less: cost or other basis and sales expenses	7b	839,657,667
c	Gain or (loss)	7c	13,876,413
d	Net gain or (loss).........			13,876,413			13,876,413
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..

Business Code
11a	PARKING REVENUE		812930	697,951	35,010	662,941
b	LICENSING REVENUE		900099	510,833	510,833
c	OTHER EARNED REVENUE		900099	243,318	243,318
d	All other revenue ....
e	Total. Add lines 11a–11d ......			1,452,102
12	Total revenue. See instructions.....			208,135,651	75,087,263	834,117	26,605,801

Form 990 (2024)

Page 10

Part IX

Statement of Functional Expenses

Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.		(A) Total expenses	(B) Program service expenses	(C) Management and general expenses	(D) Fundraising expenses

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	22,289	22,289
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........	167,409	167,409
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............	80,450	80,450
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........	4,016,137	2,020,948	1,380,110	615,079
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........	46,446,714	38,971,351	4,564,227	2,911,136
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	3,239,041	2,734,129	277,529	227,383
9	Other employee benefits .......	7,446,889	6,180,320	777,494	489,075
10	Payroll taxes ...........	3,613,283	2,989,126	395,399	228,758
11	Fees for services (non-employees):
a	Management ......
b	Legal .........	345,234		314,452	30,782
c	Accounting ...........	217,388		217,388
d	Lobbying ...........	233,661	233,661
e	Professional fundraising services. See Part IV, line 17	193,037			193,037
f	Investment management fees ......	1,416,986		1,416,986
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	11,297,941	8,828,617	947,750	1,521,574
12	Advertising and promotion ....	8,011,019	8,007,597	3,422
13	Office expenses .......	2,936,563	2,460,283	61,944	414,336
14	Information technology ......	6,867,214	6,218,053	603,695	45,466
15	Royalties ..	72,940	68,649	4,291
16	Occupancy ...........	9,826,924	8,225,839	1,132,477	468,608
17	Travel ............	1,276,859	1,158,951	99,244	18,664
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....	1,315,930	669,859	526,914	119,157
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	12,298,996	9,696,394	2,582,777	19,825
23	Insurance ...	1,156,154	1,061,916	87,233	7,005
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	VEHICLE AND VESSEL OPER	587,704	431,182	156,500	22
b	SPONSORSHIPS & GIFTS	440,151	271,753	147,548	20,850
c
d
e	All other expenses
25	Total functional expenses. Add lines 1 through 24e	123,526,913	100,498,776	15,697,380	7,330,757
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

Form 990 (2024)

Page 11

Part X

Balance Sheet

Check if Schedule O contains a response or note to any line in this Part IX..............

				(A) Beginning of year		(B) End of year

1	Cash–non-interest-bearing ........			11,267,067	1	5,576,842
2	Savings and temporary cash investments .........			55,987,009	2	46,734,424
3	Pledges and grants receivable, net ......			21,631,281	3	59,554,773
4	Accounts receivable, net .............			3,782,786	4	2,840,152
5	Loans and other receivables from any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
					5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........				7
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			2,260,191	9	2,625,717
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	431,808,066
b	Less: accumulated depreciation	10b	226,522,329	191,386,461	10c	205,285,737
11	Investments—publicly traded securities .			335,057,007	11	269,350,359
12	Investments—other securities. See Part IV, line 11 .....			113,188,757	12	242,193,955
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			4,963,855	15	3,502,518
16	Total assets. Add lines 1 through 15 (must equal line 33)...			739,524,414	16	837,664,477

17	Accounts payable and accrued expenses .....	15,335,864	17	14,631,812
18	Grants payable ...		18
19	Deferred revenue .........	8,837,495	19	8,444,918
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D	145,879	25	114,677
26	Total liabilities. Add lines 17 through 25..	24,319,238	26	23,191,407

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	626,057,048	27	674,733,614
28	Net assets with donor restrictions ...........	89,148,128	28	139,739,456
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds		31
32	Total net assets or fund balances ...........	715,205,176	32	814,473,070
33	Total liabilities and net assets/fund balances ........	739,524,414	33	837,664,477

Form 990 (2024)

Page 12

Part XI

Reconcilliation of Net Assets

Check if Schedule O contains a response or note to any line in this Part XI..............

Total revenue (must equal Part VIII, column (A), line 12) ............

208,135,651

Total expenses (must equal Part IX, column (A), line 25) ............

123,526,913

Revenue less expenses. Subtract line 2 from line 1 ..............

84,608,738

Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..

715,205,176

Net unrealized gains (losses) on investments ...............

14,396,991

Donated services and use of facilities .................

Investment expenses .....................

Prior period adjustments .....................

Other changes in net assets or fund balances (explain in Schedule O) ........

262,165

Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))

814,473,070

Part XII

Financial Statements and Reporting

Check if Schedule O contains a response or note to any line in this Part XII.............

Yes

Accounting method used to prepare the Form 990: Cash Accrual Other
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.

Were the organization’s financial statements compiled or reviewed by an independent accountant?

If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separate basis

Were the organization’s financial statements audited by an independent accountant?

Yes

If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separate basis

If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?

Yes

If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.

As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?

If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.

Form 990 (2024)

Additional Data

Software ID:
Software Version:

Form 990, Special Condition Description:

Special Condition Description

- TIN:

SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public
Inspection

Name of the organization

MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number

94-2487469

Part I

Reason for Public Charity Status (All organizations must complete this part.) See instructions.

The organization is not a private foundation because it is: (For lines 1 through 12, check only one box.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E (Form 990).)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An agricultural research organization described in 170(b)(1)(A)(ix) operated in conjunction with a land-grant college or university or a non-land grant college of agriculture. See instructions. Enter the name, city, and state of the college or university:

An organization that normally receives: (1) more than 33 1/3% of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 33 1/3% of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box on lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 12g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations ...............................

Provide the following information about the supported organization(s).

(i) Name of supported organization	(ii) EIN	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i) Name of supported organization	(ii) EIN	Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)


Total

For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.

Cat. No. 11285F

Schedule A (Form 990) 2024

Page 2

Part II

Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization failed to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") ..	67,321,983	60,269,366	65,111,538	70,908,550	105,608,470	369,219,907
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf ....
3	The value of services or facilities furnished by a governmental unit to the organization without charge..
4	Total. Add lines 1 through 3	67,321,983	60,269,366	65,111,538	70,908,550	105,608,470	369,219,907
5	The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f) ..						87,912,399
6	Public support. Subtract line 5 from line 4.						281,307,508

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
7	Amounts from line 4..	67,321,983	60,269,366	65,111,538	70,908,550	105,608,470	369,219,907
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...	1,485,246	681,088	4,059,100	13,221,408	13,789,825	33,236,667
9	Net income from unrelated business activities, whether or not the business is regularly carried on..	110,732	15,936	552	40,704	283,050	450,974
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..				35,128		35,128
11	Total support. Add lines 7 through 10						402,942,676

Gross receipts from related activities, etc. (see instructions) ..................

250,866,337

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here ........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2024 (line 6, column (f) divided by line 11, column (f)) .........

69.810 %

Public support percentage for 2023 Schedule A, Part II, line 14 ...............

78.010 %

16a

33 1/3% support test—2024. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2023. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2024. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow

10%-facts-and-circumstances test—2023. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported organization ............ right arrow

Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow

Schedule A (Form 990) 2024

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .
2	Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose
3	Gross receipts from activities that are not an unrelated trade or business under section 513 .....
4	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...
5	The value of services or facilities furnished by a governmental unit to the organization without charge
6	Total. Add lines 1 through 5
7a	Amounts included on lines 1, 2, and 3 received from disqualified persons
b	Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.
c	Add lines 7a and 7b..
8	Public support. (Subtract line 7c from line 6.)

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
9	Amounts from line 6...
10a	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..
b	Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.
c	Add lines 10a and 10b.
11	Net income from unrelated business activities not included on line 10b, whether or not the business is regularly carried on.
12	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.) ..
13	Total support. (Add lines 9, 10c, 11, and 12.)..

First 5 years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here................................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2024 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2023 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2024 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2023 Schedule A, Part III, line 17 .............

19a

33 1/3% support tests-2024. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3 % support tests—2023. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ..... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990) 2024

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked box 12a or 12b in Part I, answer lines 4b and 4c below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations.

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer lines 5b and 5c below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed; (ii) the reasons for each such action; (iii) the authority under the organization's organizing document authorizing such action; and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described on line 7? If “Yes,” complete Part I of Schedule L (Form 990).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons, as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined on line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined on line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Schedule A (Form 990) 2024

Page 5

Part IV

Supporting Organizations (continued)

Yes

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described on lines 11b and 11c below, the governing body of a supported organization?

11a

A family member of a person described on 11a above?

11b

A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.

11c

Section B. Type I Supporting Organizations

Yes

Did the officers, directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in line 2 above, did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer lines 2a and 2b below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Did the activities described on line 2a, above constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Parent of Supported Organizations. Answer lines 3a and 3b below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations?If "Yes" or "No", provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI. the role played by the organization in this regard.

Schedule A (Form 990) 2024

Page 6

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970 (explain in Part VI). See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
1	Net short-term capital gain	1
2	Recoveries of prior-year distributions	2
3	Other gross income (see instructions)	3
4	Add lines 1 through 3	4
5	Depreciation and depletion	5
6	Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions)	6
7	Other expenses (see instructions)	7
8	Adjusted Net Income (subtract lines 5, 6 and 7 from line 4)	8

	Section B - Minimum Asset Amount		(A) Prior Year	(B) Current Year (optional)
1	Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year):	1
a	Average monthly value of securities	1a
b	Average monthly cash balances	1b
c	Fair market value of other non-exempt-use assets	1c
d	Total (add lines 1a, 1b, and 1c)	1d
e	Discount claimed for blockage or other factors (explain in detail in Part VI):
2	Acquisition indebtedness applicable to non-exempt use assets	2
3	Subtract line 2 from line 1d	3
4	Cash deemed held for exempt use. Enter 0.015 of line 3 (for greater amount, see instructions).	4
5	Net value of non-exempt-use assets (subtract line 4 from line 3)	5
6	Multiply line 5 by 0.035	6
7	Recoveries of prior-year distributions	7
8	Minimum Asset Amount (add line 7 to line 6)	8

	Section C - Distributable Amount		Current Year
1	Adjusted net income for prior year (from Section A, line 8, Column A)	1
2	Enter 85% of line 1	2
3	Minimum asset amount for prior year (from Section B, line 8, Column A)	3
4	Enter greater of line 2 or line 3	4
5	Income tax imposed in prior year	5
6	Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions)	6

Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990) 2024

Page 7

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations(continued)

Section D - Distributions		Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes	1
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity	2
3 Administrative expenses paid to accomplish exempt purposes of supported organizations	3
4 Amounts paid to acquire exempt-use assets	4
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI)	5
6 Other distributions (describe in Part VI). See instructions	6
7Total annual distributions. Add lines 1 through 6.	7
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions	8
9 Distributable amount for 2024 from Section C, line 6	9
10 Line 8 amount divided by Line 9 amount	10

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2024	(iii) Distributable Amount for 2024
1 Distributable amount for 2024 from Section C, line 6
2 Underdistributions, if any, for years prior to 2024 (reasonable cause required-- explain in Part VI). See instructions.
3 Excess distributions carryover, if any, to 2024:
a From 2019.......
b From 2020.......
c From 2021.......
d From 2022.......
e From 2023.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2024 distributable amount
i Carryover from 2019 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.
4Distributions for 2024 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2024 distributable amount
c Remainder. Subtract lines 4a and 4b from line 4.
5 Remaining underdistributions for years prior to 2024, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions.
6 Remaining underdistributions for 2024. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions.
7 Excess distributions carryover to 2025. Add lines 3j and 4c.
8 Breakdown of line 7:
a Excess from 2020.....
b Excess from 2021.....
c Excess from 2022.....
d Excess from 2023.....
e Excess from 2024.....

Schedule A (Form 990) (2024)

Schedule A (Form 990) 2024

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation

Schedule A (Form 990) 2024

Additional Data

Software ID:
Software Version:

- TIN:

Schedule B
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

Name of the organization

MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number

94-2487469

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note: Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Don't complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Right Arrow

Caution: An organization that isn't covered by the General Rule and/or the Special Rules doesn't file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its Form 990-EZ
or on its Form 990PF, Part I, line 2, to certify that it doesn't meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.

Cat. No. 30613XSchedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025) Page 2

Name of organization MONTEREY BAY AQUARIUM FOUNDATION

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$ RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 3

Name of organization MONTEREY BAY AQUARIUM FOUNDATION		Employer identification number 94-2487469

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
(a) No. from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (See instructions)	(d) Date received
		$
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 4


Name of organization MONTEREY BAY AQUARIUM FOUNDATION			Employer identification number 94-2487469
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c) (7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No. from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE C
(Form 990)

Department of the Treasury
Internal Revenue Service

Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527

right arrow

Complete if the organization is described below. right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2024

Open to Public
Inspection

If the organization answered "Yes" on Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet

Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet

Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet

Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" on Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet

Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet

Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" on Form 990, Part IV, Line 5 (Proxy Tax) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet

Section 501(c)(4), (5), or (6) organizations: Complete Part III.

Name of the organization

MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number

94-2487469

Part I-A

Complete if the organization is exempt under section 501(c) or is a section 527 organization.

Provide a description of the organization’s direct and indirect political campaign activities in Part IV. See instructions for definition of “political campaign activities."

Political campaign activity expenditures. See instructions .................................................................... right arrow

Volunteer hours for political campaign activities. See instructions ..................................................................

Part I-B

Complete if the organization is exempt under section 501(c)(3).

Enter the amount of any excise tax incurred by the organization under section 4955 ................................ right arrow

Enter the amount of any excise tax incurred by organization managers under section 4955 ....................... right arrow

If the organization incurred a section 4955 tax, did it file Form 4720 for this year? .........................................

Yes No

Was a correction made? ......................................................................................................................

Yes No

If "Yes," describe in Part IV.

Part I-C

Complete if the organization is exempt under section 501(c), except section 501(c)(3).

Enter the amount directly expended by the filing organization for section 527 exempt function activities ..... right arrow

Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................ right arrow

Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b........... right arrow

Did the filing organization file Form 1120-POL for this year? ...................................................................

Yes No

Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.

(a) Name	(b) Address	(c) EIN	(d) Amount paid from filing organization's funds. If none, enter -0-.	(e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.
1
2
3
4
5
6

For Paperwork Reduction Act Notice, see the instructions for Form 990.

Cat. No. 50084S

Schedule C (Form 990) 2024

Page 2

Part II-A

Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).

A Check right arrow

if the filing organization belongs to an affiliated group (and list in Part IV each affiliated group member's name, address, EIN, expenses, and share of excess lobbying expenditures).
B Check right arrow

if the filing organization checked box A and "limited control" provisions apply.

Limits on Lobbying Expenditures (The term "expenditures" means amounts paid or incurred.)		(a) Filing organization's totals	(b) Affiliated group totals
1a	Total lobbying expenditures to influence public opinion (grass roots lobbying) ......................	1,027
b	Total lobbying expenditures to influence a legislative body (direct lobbying) ........................	248,396
c	Total lobbying expenditures (add lines 1a and 1b) ............................................................	249,423
d	Other exempt purpose expenditures ...............................................................................	121,667,467
e	Total exempt purpose expenditures (add lines 1c and 1d) ..................................................	121,916,890
f	Lobbying nontaxable amount. Enter the amount from the following table in both columns.	1,000,000
	If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
	Not over $500,00020% of the amount on line 1e.
	Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
	Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
	Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
	Over $17,000,000$1,000,000.

g	Grassroots nontaxable amount (enter 25% of line 1f) .................................................	250,000
h	Subtract line 1g from line 1a. If zero or less, enter -0-. ................................................	0
i	Subtract line 1f from line 1c. If zero or less, enter -0-. ................................................	0
j	If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting section 4911 tax for this year? ...................................................................................................................		Yes No

4-Year Averaging Period Under Section 501(h) (Some organizations that made a section 501(h) election do not have to complete all of the five columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
	Calendar year (or fiscal year beginning in)	(a) 2021	(b) 2022	(c) 2023	(d) 2024	(e) Total

2a	Lobbying nontaxable amount	1,000,000	1,000,000	1,000,000	1,000,000	4,000,000

b	Lobbying ceiling amount (150% of line 2a, column(e))					6,000,000

c	Total lobbying expenditures	134,425	239,889	227,515	249,423	851,252

d	Grassroots nontaxable amount	250,000	250,000	250,000	250,000	1,000,000

e	Grassroots ceiling amount (150% of line 2d, column (e))					1,500,000

f	Grassroots lobbying expenditures				1,027	1,027

Schedule C (Form 990) 2024

Page 3

Part II-B

Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).

For each "Yes" response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.

(a)

Yes

(b)

Amount

During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:

Volunteers? ...........................................................................................................

Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........

Media advertisements? ...................................................................................................

Mailings to members, legislators, or the public? .............................................................................

Publications, or published or broadcast statements? ...........................................................

Grants to other organizations for lobbying purposes? ..........................................................

Direct contact with legislators, their staffs, government officials, or a legislative body? .......................

Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................

Other activities? ...................................................................................................................

Total. Add lines 1c through 1i ....................................................................................................

Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....

If "Yes," enter the amount of any tax incurred under section 4912 ...........................................

If "Yes," enter the amount of any tax incurred by organization managers under section 4912 ...................

If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? ........................

Part III-A

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).

Yes

Were substantially all (90% or more) dues received nondeductible by members? ...............................................

Did the organization make only in-house lobbying expenditures of $2,000 or less? ............................................

Did the organization agree to carry over lobbying and political expenditures from the prior year? .................................

Part III-B

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."

Dues, assessments and similar amounts from members ......................................................................

Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid).

Current year .............................................................................................................................

Carryover from last year ............................................................................................................

Total ...........................................................................................................................................

Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .

If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ......................................................................................................................

Taxable amount of lobbying and political expenditures. See Instructions .........................................

Part IV

Supplemental Information

Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.

Return Reference	Explanation

Schedule C (Form 990) 2024

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
right arrow

Attach to Form 990.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number

94-2487469

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised funds are the organization’s property, subject to the organization’s exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements ......................	2a
b	Total acreage restricted by conservation easements ....................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after July 25, 2006, and not on a historic structure listed in the National Register ...	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow

Number of states where property subject to conservation easement is located right arrow

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .............................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" on Form 990, Part IV, line 8.

If the organization elected, as permitted under FASB ASC 958, not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under FASB ASC 958, to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included on Form 990, Part VIII, line 1 ......................... right arrow

(ii)

Assets included in Form 990, Part X ............................... right arrow

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under FASB ASC 958 relating to these items:

Revenue included on Form 990, Part VIII, line 1 .......................... right arrow

Assets included in Form 990, Part X ............................... right arrow

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) (Rev. 1-2025)

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?...

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" on Form 990, Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....

Part V

Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.

		(a) Current year	(b) Prior year	(c) Two years back	(d) Three years back	(e) Four years back

1a	Beginning of year balance ....	354,664,757	291,763,757	334,361,757	293,525,757	267,572,483
b	Contributions ...	1,803,000	5,292,000	3,768,000	3,266,000	3,869,666
c	Net investment earnings, gains, and losses	31,170,000	28,882,000	-35,661,000	47,351,000	31,483,608
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...	12,038,000	-28,727,000	10,705,000	9,781,000	9,400,000
f	Administrative expenses ....
g	End of year balance ......	375,599,757	354,664,757	291,763,757	334,361,757	293,525,757

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment right arrow

85.660 %

Permanent endowment right arrow

9.689 %

Term endowment right arrow

4.651 %

The percentages on lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) Unrelated organizations .................

3a(i)

(ii) Related organizations .................

3a(ii)

If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b) Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land .....	39,748,397		39,748,397
b	Buildings ....	257,403,048	135,389,172	122,013,876
c	Leasehold improvements
d	Equipment ....	45,458,226	36,479,185	8,979,041
e	Other .....	89,198,395	54,653,972	34,544,423
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				205,285,737

Schedule D (Form 990) (Rev. 1-2025)

Page 3

Part VII

Investments - Other Securities.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)	(b) Book value	(c) Method of valuation: Cost or end-of-year market value
(1) Financial derivatives.........
(2) Closely-held equity interests........
(3) Other (A) ALTERNATIVE INVESTMENTS	242,193,955	F
(B)
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	242,193,955

Part VIII

Investments - Program Related. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment	(b) Book value	(c) Method of valuation: Cost or end-of-year market value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities.
Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
GIFT ANNUITY PAYMENT LIABILITY	47,874
SECURITY DEPOSITS FROM TENANTS	66,803







Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	114,677
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) (Rev. 1-2025)

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	226,473,255
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	14,396,992
b	Donated services and use of facilities .........	2b	454,060
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ...........	2d	262,165
e	Add lines 2a through 2d .....................			2e	15,113,217
3	Subtract line 2e from line 1..................			3	211,360,038
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a	1,416,986
b	Other (Describe in Part XIII.) ...........	4b	-4,641,373
c	Add lines 4a and 4b....................			4c	-3,224,387
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	208,135,651

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........			1	127,205,361
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a	454,060
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ...........	2d	4,641,374
e	Add lines 2a through 2d....................			2e	5,095,434
3	Subtract line 2e from line 1...................			3	122,109,927
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a	1,416,986
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.....................			4c	1,416,986
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	123,526,913

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation
PART V, LINE 4:	THE EARNINGS OF THE AQUARIUM'S ENDOWMENT FUNDS SUPPORT EDUCATION AND CONSERVATION PROGRAMS AND THE MISSION OF THE AQUARIUM. THE EARNINGS OF THE AQUARIUM'S ENDOWMENT FUNDS PROVIDE FREE PROGRAMS TO SCHOOL CHILDREN, SUPPORT EDUCATION AND CONSERVATION PROGRAMS, AND THE MISSION OF THE AQUARIUM.
PART X, LINE 2:	THE MONTEREY BAY AQUARIUM FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, HOWEVER, IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE AQUARIUM IS ALSO EXEMPT FROM CALIFORNIA STATE FRANCHISE TAXES UNDER SECTION 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE. AS OF DECEMBER 31, 2024, MANAGEMENT EVALUATED THE AQUARIUM'S TAX POSITIONS AND CONCLUDED THAT THE AQUARIUM HAD MAINTAINED ITS TAX-EXEMPT STATUS AND HAD TAKEN NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO OR DISCLOSURE IN THE FINANCIAL STATEMENTS.
PART XI, LINE 2D - OTHER ADJUSTMENTS:	CHANGE IN INTEREST IN CHARITABLE TRUSTS 324,330. CHANGE IN ALLOWANCE FOR UNCOLLECTIBLE PLEDGES -62,165.
PART XI, LINE 4B - OTHER ADJUSTMENTS:	RENTAL EXPENSES -1,060,437. COST OF SALES -3,580,936.
PART XII, LINE 2D - OTHER ADJUSTMENTS:	RENTAL EXPENSES 1,060,437. COST OF SALES 3,580,937.

Schedule D (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE F(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Statement of Activities Outside the United States

Complete if the organization answered "Yes" to Form 990, Part IV, line 14b, 15, or 16. Right arrow

Attach to Form 990. Right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization
MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number

94-2487469

Part I

General Information on Activities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 14b.

For grantmakers. Does the organization maintain records to substantiate the amount of its grants and

other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria used

to award the grants or assistance? . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.

Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)

(a) Region		(b) Number of offices in the region	(c) Number of employees, agents, and independent contractors in the region	(d) Activities conducted in region (by type) (such as, fundraising, program services, investments, grants to recipients located in the region)	(e) If activity listed in (d) is a program service, describe specific type of service(s) in the region	(f) Total expenditures for and investments in the region
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	INVESTMENTS		20,427,921
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	PROGRAM SERVICES	CONERENCES/FELLOWS	53,990
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	GRANTS		5,450
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	INVESTMENTS		120,369,734
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	PROGRAM SERVICES	CONERENCES/FELLOWS	771
	EAST ASIA AND THE PACIFIC	0	7	PROGRAM SERVICES	CONERENCES/FELLOWS, SEAFOOD WATCH	428,677
	EAST ASIA AND THE PACIFIC	0	7	GRANTS		35,000
	NORTH AMERICA	0	0	PROGRAM SERVICES	CONERENCES/FELLOWS	77,400
	NORTH AMERICA	0	0	GRANTS		33,000
	SOUTH AMERICA	0	0	PROGRAM SERVICES	CONERENCES/FELLOWS	1,183
	SOUTH AMERICA	0	0	GRANTS		7,000
	SOUTH ASIA	0	5	PROGRAM SERVICES	SEAFOOD WATCH	211,500





3a	Sub-total ....	0	7			141,398,943
b	Total from continuation sheets to Part I ...	0	5			252,683
c	Totals (add lines 3a and 3b)	0	12			141,651,626

For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) (Rev. 1-2025)

Schedule F (Form 990) (Rev. 1-2025)

Page 2

Part II

Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.

(c) Region	(d) Purpose of grant	(e) Amount of cash grant	(f) Manner of cash disbursement	(g) Amount of noncash assistance
EAST ASIA AND THE PACIFIC	BUILD BRIDGE	35,000	WIRE TRANSFER	0
EUROPE (INCLUDING ICELAND & GREENLAND)	TRAVEL COSTS TO INTERGOVERNMENTAL NEGOTIATING COMMITTEE	5,450	WIRE TRANSFER	0
SOUTH AMERICA	TRAVEL TO CONFERENCE	7,000	WIRE TRANSFER	0

2	Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .......	0
3	Enter total number of other organizations or entities .......................	3

Schedule F (Form 990) (Rev. 1-2025)

Schedule F (Form 990) (Rev. 1-2025)Page 3

Part III

Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 16.

Part III can be duplicated if additional space is needed.

	(b) Region	(c) Number of recipients	(d) Amount of cash grant	(e) Manner of cash disbursement
TO SUPPORT PARTICIPATION IN THE CAPTIVE AND FIELD RESEARCH ON MHI SYMPOSIUM	NORTH AMERICA	2	33,000	WIRE TRANSFER

Schedule F (Form 990) (Rev. 1-2025)

Page 4

Part IV

Foreign Forms

Schedule F (Form 990) (Rev. 1-2025)

Page 5

Part V

Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information. See instructions.

ReturnReference	Explanation
PART I, LINE 2:	THE AQUARIUM REQUIRES POTENTIAL GRANT RECIPIENTS TO SUBMIT FORMAL APPLICATIONS WHICH ARE REVIEWED BY THE PROGRAM MANAGER FOR CONSISTENCY WITH THE AQUARIUM'S MISSION AND COMPLIANCE WITH THE ANNUAL BUDGET. FURTHERMORE, THE AQUARIUM REQUIRES A WRITTEN REPORT FROM THE GRANTEE PROVIDING DETAIL ABOUT HOW FUNDS WERE USED TO ACCOMPLISH THE GRANT OBJECTIVES. REPORTS ARE REVIEWED BY THE PROGRAM MANAGER FOR COMPLIANCE WITH GRANT CONDITIONS.
PART I, LINE 3:	THE ORGANIZATION USES THE ACCRUAL METHOD OF ACCOUNTING FOR EXPENDITURE REPORTING.
PART II, LINE 1 ACCOUNTING METHOD:	THE ORGANIZATION USES THE ACCRUAL METHOD OF ACCOUNTING FOR GRANT AND ASSISTANCE REPORTING.
PART III ACCOUNTING METHOD:	THE ORGANIZATION USES THE ACCRUAL METHOD OF ACCOUNTING FOR GRANT AND ASSISTANCE REPORTING.

Schedule F (Form 990) (Rev. 1-2025)

Additional Data

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SCHEDULE G (Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Supplemental Information Regarding
Fundraising or Gaming Activities

Complete if the organization answered "Yes" on Form 990, Part IV, lines 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. right arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization
MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number

94-2487469

Part I

Fundraising Activities.Complete if the organization answered "Yes" on Form 990, Part IV, line 17.

Form 990-EZ filers are not required to complete this part.

Indicate whether the organization raised funds through any of the following activities. Check all that apply.

a	Mail solicitations	e	Solicitation of non-government grants
b	Internet and email solicitations	f	Solicitation of government grants
c	Phone solicitations	g	Special fundraising events
d	In-person solicitations

Did the organization have a written or oral agreement with any individual (including officers, directors, trustees

or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?

YesNo

If "Yes," list the 10 highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization.

(i) Name and address of individual or entity (fundraiser)		(ii) Activity	(iii) Did fundraiser have custody or control of contributions?		(iv) Gross receipts from activity	(v) Amount paid to (or retained by) fundraiser listed in col. (i)	(vi) Amount paid to (or retained by) organization
			Yes	No
	SD&A TELESERVICES 5757 WEST CENTURY BLVD STE 300 LOS ANGELES, CA90045	TELEMARKETING		No	198,695	33,697	164,998
	FELDSTEINCO LLC 611 ROCKLAND RD STE 101 LAKE BLUFF, IL60044	CONSULTING/MARKETING		No	0	159,340	-159,340








Total . . . . . . . . . . . . . . . . . . . .					198,695	193,037	5,658

List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.

AL, AK, AR, CA, CO, CT, FL, HI, KS, KY, ME, MD, MA, MI, MN, MS, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, TN, UT, VA, WA, WV, WI, IL

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 50083H

Schedule G (Form 990) (Rev. 1-2025)

Page 2

Part II

Fundraising Events. Complete if the organization answered "Yes" on Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.

		(a) Event #1 (event type)	(b) Event #2 (event type)	(c) Other events (total number)	(d) Total events (add col. (a) through col. (c))
1	Gross receipts . . . . .
2	Less: Contributions . . . .
3	Gross income (line 1 minus line 2) . . . . . .

4	Cash prizes . . . . .
5	Noncash prizes . . . .
6	Rent/facility costs . . . .
7	Food and beverages . . .
8	Entertainment . . . .
9	Other direct expenses . . .
10	Direct expense summary. Add lines 4 through 9 in column (d) . . . . . . . . . .
11	Net income summary. Subtract line 10 from line 3, column (d). . . . . . . . . .

Part III

Gaming. Complete if the organization answered "Yes" on Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.

		(a) Bingo	(b) Pull tabs/Instant bingo/progressive bingo	(c) Other gaming	(d) Total gaming (add col.(a) through col.(c))
1	Gross revenue . . . . .

2	Cash prizes . . . . .
3	Noncash prizes . . . .
4	Rent/facility costs . . . .
5	Other direct expenses . . .

Volunteer labor . . . .

	Yes %
	No

	Yes %
	No

	Yes %
	No

Direct expense summary. Add lines 2 through 5 in column (d) . . . . . . . . . . right arrow

Net gaming income summary. Subtract line 7 from line 1, column (d). . . . . . . . . right arrow

Enter the state(s) in which the organization conducts gaming activities:

Is the organization licensed to conduct gaming activities in each of these states? . . . . . . . .

YesNo

If "No," explain:

10a

Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? . . .

YesNo

If "Yes," explain:

Schedule G (Form 990) (Rev. 1-2025)

Page 3

Does the organization conduct gaming activities with nonmembers? . . . . . . . . . . .

YesNo

Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity

formed to administer charitable gaming? . . . . . . . . . . . . . . . . .

YesNo

Indicate the percentage of gaming activity conducted in:

The organization's facility . . . . . . . . . . . . . . . . . .

13a

An outside facility . . . . . . . . . . . . . . . . . . . .

13b

Enter the name and address of the person who prepares the organization's gaming/special events books and records:

Name

Address

15a

Does the organization have a contract with a third party from whom the organization receives gaming

revenue? . . . . . . . . . . . . . . . . . . . . . . . .

YesNo

If "Yes," enter the amount of gaming revenue received by the organization right arrow

$ and the

amount of gaming revenue retained by the third party right arrow

$ .

If "Yes," enter name and address of the third party:

Name

Address

Gaming manager information:

Name

Gaming manager compensation right arrow

Description of services provided right arrow

Director/officer Employee Independent contractor

Mandatory distributions:

Is the organization required under state law to make charitable distributions from the gaming proceeds to

retain the state gaming license? . . . . . . . . . . . . . . . . . . .

YesNo

Enter the amount of distributions required under state law distributed to other exempt organizations or spent

in the organization's own exempt activities during the tax year right arrow

Part IV

Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v); and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also provide any additional information. See instructions.

Return Reference	Explanation

Schedule G (Form 990) (Rev. 1-2025)

Additional Data

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Schedule I
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Grants and Other Assistance to Organizations,
Governments and Individuals in the United States

Complete if the organization answered "Yes," on Form 990, Part IV, line 21 or 22.
lBullet

Attach to Form 990.
lBullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization
MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number
94-2487469

Part I

General Information on Grants and Assistance

Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ........................

Yes No

Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.

Part II

Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient

that received more than $5,000. Part II can be duplicated if additional space is needed.

(a) Name and address of organization or government	(b) EIN	(c) IRC section (if applicable)	(d) Amount of cash grant	(e) Amount of non-cash assistance	(f) Method of valuation (book, FMV, appraisal, other)	(g) Description of noncash assistance	(h) Purpose of grant or assistance
(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50055P

Schedule I (Form 990) Rev. 1-2025

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance	(b) Number of recipients	(c) Amount of cash grant	(d) Amount of noncash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of noncash assistance

(1) GRANTS - FOR TRAVEL TO CONFERENCES	7	19,026
(2) GRANTS - SPECIMEN COLLECTING	1	12,000
(3) SCHOLARSHIPS	8	103,236
(4) STIPENDS	101	33,147
(4)
(5)
(6)
(7)

Part IV

Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.

Return Reference

Explanation

PART I, LINE 2:

THE AQUARIUM REQUIRES POTENTIAL GRANT RECIPIENTS TO SUBMIT FORMAL APPLICATIONS WHICH ARE REVIEWED BY THE PROGRAM MANAGER FOR CONSISTENCY WITH THE AQUARIUM'S MISSION AND COMPLIANCE WITH THE ANNUAL BUDGET. FURTHERMORE, THE AQUARIUM REQUIRES A WRITTEN REPORT FROM THE GRANTEE PROVIDING DETAIL ABOUT HOW FUNDS WERE USED TO ACCOMPLISH THE GRANT OBJECTIVES. REPORTS ARE REVIEWED BY THE PROGRAM MANAGER FOR COMPLIANCE WITH GRANT CONDITIONS.

Schedule I (Form 990) Rev. 1-2025

Additional Data

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Schedule J
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic

Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic

Attach to Form 990.
medium right arrow graphic

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number

94-2487469

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain .....

Yes

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a? ....

Yes

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? .............

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ....................

Any related organization? .......................

If "Yes," on line 5a or 5b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ..................

Any related organization? ......................

If "Yes," on line 6a or 6b, describe in Part III.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Yes

Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................

If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) (Rev. 1-2025)

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2, 1099-MISC compensation, and/or 1099-NEC			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column (B) reported as deferred on prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1CHRISTINA FEKECI CHIEF DEVELOPMENT OFFICER	(i) (ii)	391,001 ------------- 0	28,000 ------------- 0	4,463 ------------- 0	35,378 ------------- 0	15,225 ------------- 0	474,067 ------------- 0	0 ------------- 0
2JULIE PACKARD VICE CHAIR & EXECUTIVE DIRECTOR	(i) (ii)	412,989 ------------- 0	1,500 ------------- 0	3,126 ------------- 0	37,311 ------------- 0	15,720 ------------- 0	470,646 ------------- 0	0 ------------- 0
3BRADLEY RUTHERFORD EXEC VP AND DEPUTY DIRECTOR	(i) (ii)	379,589 ------------- 0	3,000 ------------- 0	29,632 ------------- 0	20,769 ------------- 0	35,846 ------------- 0	468,836 ------------- 0	0 ------------- 0
4ANN MARIE NEMANICH CHIEF FINANCIAL OFFICER	(i) (ii)	303,571 ------------- 0	3,000 ------------- 0	2,412 ------------- 0	27,674 ------------- 0	17,433 ------------- 0	354,090 ------------- 0	0 ------------- 0
5DANA ALLEN-GREIL CHIEF MARKETING OFFICER	(i) (ii)	269,051 ------------- 0	3,000 ------------- 0	576 ------------- 0	25,276 ------------- 0	42,281 ------------- 0	340,184 ------------- 0	0 ------------- 0
6MARGARET SPRING CHIEF CONSERVATION & SCI OFFICER	(i) (ii)	260,540 ------------- 0	3,000 ------------- 0	2,389 ------------- 0	24,445 ------------- 0	31,354 ------------- 0	321,728 ------------- 0	0 ------------- 0
7JON HOECH VP OF ANIMAL CARE	(i) (ii)	225,889 ------------- 0	3,000 ------------- 0	2,670 ------------- 0	20,852 ------------- 0	25,850 ------------- 0	278,261 ------------- 0	0 ------------- 0
8JENNIFER DIANTO KEMMERLY VP OF GLOBAL OCEAN CONSERVATION	(i) (ii)	229,388 ------------- 0	3,000 ------------- 0	856 ------------- 0	21,169 ------------- 0	18,435 ------------- 0	272,848 ------------- 0	0 ------------- 0
9MARIA HEMMESCH VP OF PEOPLE & CULTURE	(i) (ii)	195,793 ------------- 0	6,000 ------------- 0	1,138 ------------- 0	18,694 ------------- 0	40,791 ------------- 0	262,416 ------------- 0	0 ------------- 0
10PAULINE PARRISH CONTROLLER	(i) (ii)	212,565 ------------- 0	3,000 ------------- 0	2,189 ------------- 0	19,379 ------------- 0	16,516 ------------- 0	253,649 ------------- 0	0 ------------- 0
11SOO DEAN VP MEMBER & DONOR RELATIONS	(i) (ii)	185,345 ------------- 0	4,000 ------------- 0	558 ------------- 0	17,812 ------------- 0	42,589 ------------- 0	250,304 ------------- 0	0 ------------- 0
12AIMEE DAVID VP US & CA OCEAN CONSERVATION	(i) (ii)	209,239 ------------- 0	3,000 ------------- 0	564 ------------- 0	19,182 ------------- 0	16,350 ------------- 0	248,335 ------------- 0	0 ------------- 0
13MARY-BETH REDMOND-JONES VP OF EXHIBS/FACS (THRU 11/21/24)	(i) (ii)	214,100 ------------- 0	0 ------------- 0	1,295 ------------- 0	19,217 ------------- 0	4,005 ------------- 0	238,617 ------------- 0	0 ------------- 0
14ANN DABOVICH VP OF GIFT PLANNING	(i) (ii)	198,168 ------------- 0	3,000 ------------- 0	4,456 ------------- 0	17,789 ------------- 0	15,153 ------------- 0	238,566 ------------- 0	0 ------------- 0
15FERNANDA SAMPAIO VP OF MARKETING	(i) (ii)	203,423 ------------- 0	3,000 ------------- 0	312 ------------- 0	11,632 ------------- 0	14,712 ------------- 0	233,079 ------------- 0	0 ------------- 0
16NICOLE SANCHEZ CHIEF PEOPLE & CULTURE OFFICER	(i) (ii)	150,517 ------------- 0	3,000 ------------- 0	319 ------------- 0	0 ------------- 0	17,458 ------------- 0	171,294 ------------- 0	0 ------------- 0

Schedule J (Form 990) (Rev. 1-2025)

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.

Return Reference

Explanation

PART I, LINE 1A

ATTRACTION TICKETS AND GIFT CERTIFICATES WERE PROVIDED TO THE ASSISTANT SECRETARY, THE VP OF ANIMAL CARE, AND THE VP OF GIFT PLANNING. THE AQUARIUM GROSSES UP THE FAIR MARKET VALUE OF THESE ITEMS TO COVER THE EMPLOYEES' TAXES. SUCH ITEMS WERE TREATED AS TAXABLE INCOME ON THE EMPLOYEE'S FORM W-2 AND REPORTED AS COMPENSATION ON SCHEDULE J, PART II, COLUMN B (III) AND FORM 990, PART VII, SECTION A, COLUMN D. AS PART OF THE AQUARIUM'S WELLNESS PROGRAM, ALL EMPLOYEES (INCLUDING THE LISTED EMPLOYEES IN FORM 990, PART VII, SECTION A) ARE ELIGIBLE TO RECEIVE A SUBSIDY FOR FITNESS CENTER DUES IF THE EMPLOYEE MEETS CERTAIN WELLNESS PROGRAM REQUIREMENTS. SINCE THIS TYPE OF SUBSIDY IS CONSIDERED A TAXABLE FRINGE BENEFIT, THE AQUARIUM GROSSES UP THESE SUBSIDIES TO COVER THE EMPLOYEE'S TAXES. SUCH PAYMENTS WERE TREATED AS TAXABLE INCOME ON THE EMPLOYEE'S W-2 AND REPORTED AS COMPENSATION ON SCHEDULE J, PART II, COLUMN B (III) AND FORM 990, PART VII, SECTION A, COLUMN D. THE EXECUTIVE VP AND DEPUTY DIRECTOR, RECEIVED TRAVEL FOR COMPANIONS AND A HOUSING ALLOWANCE IN 2024. THESE PAYMENTS WERE IN CONNECTION WITH HIS RECRUITMENT, OFFER OF EMPLOYMENT, AND RELOCATION TO MONTEREY. THESE AMOUNTS ARE TREATED AS TAXABLE COMPENSATION AND REPORTED ON SCHEDULE J, PART II, COLUMN B (III) AND FORM 990, PART VII, SECTION A, COLUMN D.

PART I, LINE 7

CERTAIN OFFICERS AND EMPLOYEES WERE AWARDED BONUSES AS PART OF AN ORGANIZATION BONUS BASED ON POSITIVE FINANCIAL RESULTS. THESE AMOUNTS ARE TREATED AS TAXABLE COMPENSATION AND REPORTED ON FORM 990, SCHEDULE J, PART II, COLUMN B (II) AND FORM 990, PART VII, SECTION A, COLUMN D.

Schedule J (Form 990) (Rev. 1-2025)

Additional Data

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Software Version:

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SCHEDULE M
(Form 990)

Department of the Treasury

Internal Revenue Service

Noncash Contributions

Complete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image

Attach to Form 990.
Right pointing arrow large image

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2024

Open to Public Inspection

Name of the organization

MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number

94-2487469

Part I

Types of Property

	(a) Check if applicable	(b) Number of contributions or items contributed	(c) Noncash contribution amounts reported on Form 990, Part VIII, line 1g	(d) Method of determining noncash contribution amounts
1 Art—Works of art ....
2 Art—Historical treasures .
3 Art—Fractional interests ..
4 Books and publications ..
5 Clothing and household goods .......
6 Cars and other vehicles ..
7 Boats and planes ....
8 Intellectual property ...
9 Securities—Publicly traded .	X	111	1,209,466	FMV
10 Securities—Closely held stock .
11 Securities—Partnership, LLC, or trust interests ....
12 Securities—Miscellaneous ..
13 Qualified conservation contribution—Historic structures .....
14 Qualified conservation contribution—Other ...
15 Real estate—Residential .
16 Real estate—Commercial ..
17 Real estate—Other ...
18 Collectibles .....
19 Food inventory ...	X	3	18,945	FMV
20 Drugs and medical supplies .
21 Taxidermy ......
22 Historical artifacts ....
23 Scientific specimens ..
24 Archeological artifacts ...
25 Other ( OTHER )	X	1	480	FMV
26 Other ( )
27 Other ( )
28 Other ( )

Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement

Yes

30a

During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that it must hold for at least three years from the date of the initial contribution, and which isn't required to be used for exempt purposes for the entire holding period? ...................

30a

If "Yes," describe the arrangement in Part II.

Does the organization have a gift acceptance policy that requires the review of any nonstandard contributions?

Yes

32a

Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash

contributions? ..........................

32a

If "Yes," describe in Part II.

If the organization didn't report an amount in column (c) for a type of property for which column (a) is checked,

describe in Part II.

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 51227J

Schedule M (Form 990) (2024)

Page 2

Part IISupplemental Information. Provide the information required by Part I, lines 30b, 32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.

Return Reference	Explanation
PART I, COLUMN (B):	SECURITIES - PUBLICLY TRADED SECURITIES - NUMBER OF CONTRIBUTIONS FOOD INVENTORY - NUMBER OF ITEMS OTHER - NUMBER OF CONTRIBUTIONS

Schedule M (Form 990) (2024)

Additional Data

Software ID:
Software Version:

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SCHEDULE O
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization

MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number

94-2487469

Return Reference	Explanation
FORM 990, PART I, LINE 6:	HOURS AND VOLUNTEERS ARE TRACKED BY THE ORGANIZATION'S VOLUNTEERS ENGAGEMENT DEPARTMENT IN PEOPLE & CULTURE. THEY ARE TRACKED BY DEPARTMENT AND SPECIFIC PROGRAM. A TOTAL OF 135,350 VOLUNTEER HOURS WERE LOGGED IN 2024.
FORM 990, PART III, LINE 4A:	ANIMAL CARE AND AQUARIUM EXPERIENCE: MARINE LIFE EXHIBITION AND CARE EXPENSES OF $77,717,140 INCLUDE THE COST OF OPERATING AND MAINTAINING THE AQUARIUM'S LIVING EXHIBIT GALLERIES. WE CELEBRATED OUR 40TH ANNIVERSARY IN 2024, ALLOWING US TO LOOK BACK ON FOUR DECADES OF INNOVATIVE EXHIBITS, AMAZING ANIMALS, AND INSPIRING OUR GUESTS OF ALL AGES AND BACKGROUNDS. SETTING THE BAR FOR AQUARIUM EXHIBITIONS: FROM THE ICONIC KELP FOREST TO THE MOST RECENT INTO THE DEEP/EN LO PROFUNDO, OUR EXHIBITS HAVE SHOWCASED SPECIES NEVER SEEN ELSEWHERE, INSPIRED THE PUBLIC TO TAKE CONSERVATION ACTION, AND SET THE HIGHEST BAR FOR EXHIBIT DESIGN. OUR EXHIBITIONS HAVE PUSHED THE BOUNDARIES OF TECHNOLOGY AND EXHIBITION STANDARDS FOR OURSELVES AND ACROSS THE INDUSTRY. THE EXPERIENCE AND KNOWLEDGE WE'VE GAINED ARE THE FOUNDATION THAT WILL ALLOW US TO CONTINUE TO SURPRISE AND DELIGHT MILLIONS OF GUESTS IN THE YEARS TO COME. OVER THE YEARS, WE'VE INTRODUCED NEW ELEMENTS TO OUR PERMANENT GALLERIES, FROM CUSTOM-COMPOSED MUSIC TO INTERACTIVE EXHIBIT ELEMENTS, ONE-OF-A-KIND FILM AND VIDEO DISPLAYS, AND BILINGUAL LABELS-INNOVATIONS WE PIONEERED IN OUR SPECIAL EXHIBITIONS. AND OUR EXHIBITS HAVE SPARKED CONSERVATION ACTION, SUCH AS THE FISHING FOR SOLUTIONS EXHIBITION THAT BEGAN A MOVEMENT TO RAISE CONSUMER AWARENESS WORLDWIDE ABOUT THE RISKS OF OVERFISHING, THE WORK THAT BECAME OUR RESPECTED SEAFOOD WATCH PROGRAM. WE'VE ALSO HIGHLIGHTED SOME OF THE UNIQUE AND WONDERFUL ANIMALS WHOSE HABITATS ARE MOST AT RISK DUE TO CLIMATE CHANGE AND OTHER HUMAN IMPACTS, SUCH AS SEAHORSES, TUNAS, AND SEA TURTLES. AMAZING ADVANCES IN JELLY CARE: DISPLAYING DEEP-SEA JELLIES IS POSSIBLE IN PART BECAUSE OF A ONE-OF-A-KIND LIFE SUPPORT SYSTEM WE DESIGNED THAT ALLOWS US TO RECREATE SOME OF THE MORE CHALLENGING PARAMETERS OF THE DEEP-SEA ENVIRONMENT. IT'S A COMPLEX, INNOVATIVE SYSTEM THAT USES GEL MEMBRANES, COMPRESSED GAS, AND COUNTERCURRENT FLOW TO MAINTAIN REDUCED OXYGEN AND PH LEVELS. SIGNIFICANTLY, THE SYSTEM ALSO ENABLES US TO CUSTOMIZE THE EXHIBIT ENVIRONMENT TO SUIT THE VARIED NEEDS OF DIFFERENT SPECIES. INSPIRING OUR YOUNGEST VISITORS: NEARLY ONE-THIRD OF OUR GUESTS VISIT IN FAMILY GROUPS THAT INCLUDE CHILDREN. AS A LEADER IN CONSERVATION EDUCATION, THE AQUARIUM HAS A STRONG TRADITION OF EXHIBITIONS AND PROGRAMS THAT ENGAGE YOUNG CHILDREN AND THEIR FAMILIES. OUR GOAL IS TO FOSTER EMPATHY AND CARE IN YOUNG PEOPLE FOR THE NATURAL WORLD AROUND THEM. IN 2024, WE WELCOMED 326,225 CHILDREN UNDER THE AGE OF 13 TO THE AQUARIUM TO EXPLORE AND LEARN FROM OUR MARINE HABITATS. OUR EXHIBITS ARE INFORMAL SCIENCE-LEARNING ENVIRONMENTS FOR YOUNG LEARNERS. WHEN OUR YOUNGEST VISITORS COME TO THE AQUARIUM, THEY CAN VIEW AND INTERACT WITH A WIDE VARIETY OF MARINE ANIMALS. THEY CAN OBSERVE HOW ANIMALS MOVE IN THEIR ENVIRONMENTS AND EXPLORE THOSE MOVEMENTS WITH THEIR OWN BODIES THROUGH PLAY, INSPIRING EMPATHY FOR OCEAN LIFE. BY ENCOURAGING THIS KIND OF EMPATHY FOR MARINE ANIMALS EARLY ON, WE AIM TO INSPIRE THE NEXT GENERATION OF OCEAN STEWARDS. UNDERWATER EXPLORERS TOPS 50,000 DIVES: PARTICIPANTS IN OUR UNDERWATER EXPLORERS PROGRAM SURFACE SCUBA DIVE IN THE AQUARIUM'S GREAT TIDEPOOL, ACCOMPANIED BY TRAINED DIVE INSTRUCTORS. SINCE THE PROGRAM'S INCEPTION OVER 20 YEARS AGO, UNDERWATER EXPLORERS HAS SERVED MORE THAN 50,000 KIDS. THIS INCLUDES WELL OVER 1,500 WHO PARTICIPATED IN OUR DAYS OF DISCOVERY PROGRAM FOR CHILDREN AND YOUNG ADULTS WITH DISABILITIES. IN 2024, WE WELCOMED 2,749 UNDERWATER EXPLORERS; 62 PARTICIPATED DURING TWO DAYS OF DISCOVERY EVENTS. MAKING THE AQUARIUM MORE ACCESSIBLE TO ALL: SINCE OUR FOUNDING, THE AQUARIUM HAS ENGAGED WITH OUR LOCAL COMMUNITY THROUGH A VARIETY OF PROGRAMS-INCLUDING EDUCATION PROGRAMS AND FREE SCHOOL FIELD TRIPS, COMMUNITY ACCESS PROGRAMS AND ONSITE EVENTS, AND REGIONAL PARTNERSHIPS AROUND OCEAN POLICY AND SCIENTIFIC RESEARCH-ALL IN SERVICE OF OUR OCEAN CONSERVATION MISSION. IN 2024, WE EMBRACED NEW WAYS TO MEET PEOPLE WHERE THEY ARE, SUPPORT OUR NEIGHBORS, AND SHOW UP FOR OUR LOCAL COMMUNITIES. THE MOST IMMEDIATE RESULT WAS OUR PARTICIPATION IN THE NATIONAL MUSEUMS FOR ALL PROGRAM, THROUGH WHICH WE PROVIDE FREE AQUARIUM ADMISSION TO PEOPLE WHO RECEIVE FEDERAL FOOD ASSISTANCE AND UP TO THREE OF THEIR GUESTS. NEARLY 200,000 PEOPLE VISITED THE AQUARIUM THROUGH MUSEUMS FOR ALL FROM THE MAY 2024 LAUNCH THROUGH THE END OF THE YEAR. IN HONOR OF OUR 40TH ANNIVERSARY, WE EXTENDED COMPLIMENTARY ADMISSION TO THE LOCAL COMMUNITY TO VISIT THE AQUARIUM. IN TOTAL, 35,000 LOCAL PEOPLE VISITED FOR FREE DURING OCTOBER 2024. MOVING FORWARD, WE'LL CONTINUE TO REFINE AND EXPAND OUR OTHER COMMUNITY ACCESS PROGRAMS. THIS INCLUDES OUR COMMUNITY GROUP VISITS PROGRAM, PROVIDING COMPLIMENTARY ADMISSION TO ELIGIBLE NONPROFIT ORGANIZATIONS AND GOVERNMENT AGENCIES FOR VISITS WITH THE PEOPLE THEY SERVE.
FORM 990, PART III, LINE 4B:	EDUCATION AND OUTREACH: EDUCATION AND OUTREACH EXPENSES OF $8,734,219 INCLUDE THE COST OF EDUCATION PROGRAMS FOR TEACHERS, STUDENTS, AND EMERGING TEEN LEADERS. OUR COMMITMENT TO OFFERING FREE EDUCATIONAL PROGRAMS, WHICH DATES BACK TO OUR FOUNDING, IS STRONGER THAN EVER. THROUGHOUT 2024, OUR EDUCATION TEAM CONTINUED TO BUILD UP OUR MANY PROGRAMS FOR TEENS, TEACHERS, AND SCHOOLCHILDREN SO WE CAN FULFILL THE FULL POTENTIAL OF OUR BECHTEL FAMILY CENTER FOR OCEAN EDUCATION AND LEADERSHIP. FROM PRESCHOOL THROUGH HIGH SCHOOL AND BEYOND, OUR PROGRAMS BUILD EMPATHY, TEACH ABOUT THE WONDERS OF THE OCEAN, AND BUILD PARTICIPANTS' CONFIDENCE TO ACT. FREE FIELD TRIPS FOR SCHOOL CHILDREN: OUR BOARD HAD A VISION: WE WOULD PROVIDE FREE SCHOOL VISITS TO THE AQUARIUM TO ENSURE FUTURE GENERATIONS ARE SCIENCE AND OCEAN LITERATE. OVER THE PAST 40 YEARS, WE'VE WELCOMED MORE THAN 2.7 MILLION SCHOOLCHILDREN FOR AN EDUCATIONAL VISIT. DURING SCHOOL TRIPS, STUDENTS FROM PRE-K THROUGH COLLEGE AND THEIR TEACHERS LEARN ABOUT OCEAN ANIMALS AND ECOSYSTEMS AS THEY EXPLORE THE AQUARIUM GALLERIES OR PARTICIPATE IN A HANDS-ON OCEAN CONNECTION LAB. SOME JOIN US ONLINE FOR VIRTUAL TIDE TALKS. IN THE 2023-2024 SCHOOL YEAR, 37,146 SCHOOL CHILDREN PARTICIPATED IN FIELD TRIPS AND HANDS-ON PROGRAMS IN OUR LEARNING LABS. CURRENTLY, 40,000 STUDENTS VISIT EACH YEAR FOR FREE. WE'RE WORKING TO GROW THAT NUMBER BACK TO PRE-PANDEMIC LEVELS, WITH A PARTICULAR GOAL TO BETTER SERVE YOUNG PEOPLE FROM OUR LOCAL COASTAL COMMUNITIES OF COLOR WHO ARE MOST IMPACTED BY ENVIRONMENTAL ISSUES. WE'RE ALSO EXPANDING OUR OUTREACH TO YOUTH BY WORKING WITH COMMUNITY ORGANIZATIONS AND LIBRARIES-TO CREATE NEW OPPORTUNITIES FOR THEM TO VISIT. IN ADDITION, WE'RE COLLABORATING WITH THESE PARTNERS TO DESIGN PROGRAMMING TO BE OFFERED AT COMMUNITY SITES. WE'RE HEARING INCREASINGLY MORE STORIES FROM CLASSROOM AND INFORMAL EDUCATORS WHO VISITED THE AQUARIUM AS STUDENTS AND ARE NOW BRINGING THEIR OWN STUDENTS BACK FOR A FIELD TRIP-A TESTAMENT TO THE GENERATIONAL IMPACT THESE TRIPS HAVE HAD OVER THE PAST 40 YEARS. MOBILIZING EDUCATORS FOR CONSERVATION: OUR PROFESSIONAL DEVELOPMENT PROGRAMS FOR EDUCATORS HAVE REACHED OVER 38,000 TEACHERS IN OUR FIRST FOUR DECADES. WE OFFER PROGRAMS DESIGNED TO HELP TEACHERS GET THEIR STUDENTS EXCITED ABOUT LEARNING SCIENCE AND EXPLORING NATURE WHEREVER THEY LIVE. IN OCTOBER 2024, WE WELCOMED 80 CLASSROOM EDUCATORS TO THE KICKOFF OF ONE OF OUR PROGRAMS-THE CLIMATE ACTION PROJECTS SUMMIT, WHICH ENGAGES TEACHERS IN CLIMATE CHANGE LEARNING AND GIVES THEM THE TOOLS TO HELP THEIR STUDENTS INNOVATE MEANINGFUL CHANGE IN THEIR COMMUNITIES. WE WELCOMED ELEMENTARY, MIDDLE, AND HIGH SCHOOL TEACHERS TO THIS YEAR'S SUMMIT. BACK IN THEIR CLASSROOMS, TEACHERS SUPPORTED STUDENTS IN DESIGNING AND IMPLEMENTING CLIMATE CHANGE PROJECTS. THE EDUCATORS RETURNED FOR A MID-YEAR CHECK-IN IN FEBRUARY 2025, AND STUDENTS PRESENTED THEIR PROJECTS AT A FINAL SYMPOSIUM IN MAY 2025. ENGAGING TEENS IN CONSERVATION LEARNING: STARTING WITH THE STUDENT OCEANOGRAPHY CLUB DECADES AGO, OUR PROGRAMS FOR TEENS HAVE GONE THROUGH MULTIPLE ITERATIONS AS WE'VE WORKED TO ADJUST CURRICULUM AND OFFERINGS TO THE DYNAMIC NEEDS OF YOUNG PEOPLE. SERVING MORE THAN 6,000 PARTICIPANTS, YOUTH PROGRAMS ARE A LAUNCHING PAD FOR ACADEMIC AND CAREER CHOICES THAT HAVE LED MANY OF OUR ALUMNI TO BECOME CONSERVATION ADVOCATES, TEACHERS, AND EVEN AQUARIUM EMPLOYEES. CURRENTLY, WE OFFER TWO PROGRAMS FOR TEENS-OUR OCEAN LEARNING ADVENTURES CAMP FOR MIDDLE SCHOOL STUDENTS AND OUR TEEN CONSERVATION LEADERS PROGRAM FOR HIGH SCHOOL STUDENTS. LAST SUMMER, OUR OCEAN LEARNING ADVENTURES CAMP ENGAGED 106 STUDENTS ACROSS FOUR WEEKS. THIS EXPERIENCE AIMS TO GET STUDENTS EXCITED ABOUT THEIR CONNECTION TO THE OCEAN, AND PARTICIPANTS TOOK PART IN A VARIETY OF ACTIVITIES DURING THE FIVE-DAY PROGRAM. IN 2024, HIGH SCHOOL STUDENTS IN OUR SERVICE-LEARNING PROGRAM, TEEN CONSERVATION LEADERS, CHOSE FROM THREE DIFFERENT OPPORTUNITIES TO HONE THEIR SKILLS. IN TOTAL, WE WELCOMED 83 PARTICIPANTS TO THE SIX-WEEK EXPERIENCE. CELEBRATING OUR SHULTZ SCHOLARS: WE AWARDED OUR GEORGE P. SHULTZ FUTURE LEADERS SCHOLARSHIP TO A THIRD RECIPIENT IN 2024. THIS DONOR-ENDOWED PROGRAM SUPPORTS STUDENTS FROM NEARBY COMMUNITIES THAT ARE HISTORICALLY UNDERREPRESENTED IN THE SCIENCE AND CONSERVATION FIELDS. THE SCHOLARSHIP HONORS THE MEMORY OF GEORGE P. SHULTZ, WHO CHAIRED THE AQUARIUM'S LEADERSHIP COUNCIL, SERVED ON OUR BOARD OF TRUSTEES, AND ENJOYED A LONG CAREER IN PUBLIC SERVICE. EACH SHULTZ SCHOLARSHIP PROVIDES FULL TUITION, ROOM AND BOARD, AND ALL OTHER EXPENSES TO ATTEND CALIFORNIA STATE UNIVERSITY, MONTEREY BAY. IT ALSO INCLUDES FOUR YEARS OF MENTORSHIP FROM AQUARIUM STAFF. OUR MOST RECENT SCHOLARSHIP RECIPIENT PLANS TO STUDY MATHEMATICS AND ASPIRES TO BE A MATH PROFESSOR.
FORM 990, PART III, LINE 4C:	CONSERVATION AND SCIENCE: CONSERVATION AND SCIENCE COSTS OF $14,047,417 REPRESENT EXPENSES FOR MARINE POLICY AND ADVOCACY EFFORTS, THE GLOBAL SEAFOOD WATCH PROGRAM, AND FIELD RESEARCH. IN CALIFORNIA, WE'RE CONTINUING OUR LEADING ROLE IN THE RESEARCH, RESCUE, AND RECOVERY OF SOUTHERN SEA OTTERS. AT THE STATE AND FEDERAL LEVELS, WE'RE ADVANCING POLICIES TO PROTECT VULNERABLE COASTAL HABITATS, REDUCE PLASTIC POLLUTION, AND PROMOTE OCEAN-BASED CLIMATE SOLUTIONS. AROUND THE WORLD, WE'RE TRANSFORMING THE SEAFOOD INDUSTRY BY ENGAGING SEAFOOD PRODUCERS, BUSINESSES, AND GOVERNMENTS, INFORMING SEAFOOD PURCHASING STANDARDS, AND RATING THE SUSTAINABILITY OF FISHING AND AQUACULTURE PRACTICES. SUPPORTING SOUTHERN SEA OTTER RECOVERY: SINCE 1984, WE'VE BEEN WORKING TO ENSURE THE SUCCESSFUL RECOVERY OF THE THREATENED SOUTHERN SEA OTTER THROUGH RESEARCH, CONSERVATION, AND POLICY CHANGE. THIS YEAR, OUR SEA OTTER TEAM AUTHORED THREE SCIENTIFIC RESEARCH PUBLICATIONS IN HIGH-LEVEL JOURNALS ADDRESSING THE HISTORICAL CHANGES IN KELP ABUNDANCE AND SEA OTTERS IN CALIFORNIA, THE BIOLOGICAL BENEFITS OF TOOL USE BY SEA OTTERS, AND THE FORAGING ECOLOGY OF SEA OTTERS AT THE NORTHERN END OF THEIR RANGE. THIS RESEARCH IS CRITICAL TO HELPING SCIENTISTS AND RESOURCE MANAGERS PLAN FOR THE FUTURE OF SOUTHERN SEA OTTER RECOVERY. WE ALSO EXPANDED OUR CAPACITY TO HOUSE OTTERS IN NEED OF CARE BY COMPLETING OUR NEW SEA OTTER CONSERVATION CENTER. THIS FACILITY WILL SUPPORT OUR RESCUE AND REHABILITATION WORK BY PROVIDING ESSENTIAL SPACES WHERE INJURED AND ILL SEA OTTERS CAN HEAL AND STRANDED PUPS CAN LEARN THE SURVIVAL SKILLS THEY NEED TO RETURN TO THE WILD. THE CENTER WILL SUPPORT OUR SEA OTTER SURROGACY PROGRAM, WHERE WE PAIR RESCUED, STRANDED PUPS WITH NON-RELEASABLE FEMALE SEA OTTERS IN OUR CARE. WHEN THEY'RE NOT DELIGHTING OUR GUESTS, OUR EXHIBIT OTTERS HELP RAISE THE PUPS AND TEACH THEM TO GROOM AND FORAGE. NEW RESEARCH TO INFORM KELP FOREST RECOVERY: KELP FORESTS ARE AN ICONIC AND ESSENTIAL CALIFORNIA ECOSYSTEM-SUPPORTING A HOST OF SPECIES. WHEN WE OPENED IN 1984, WE MADE IT A PRIORITY TO SHOWCASE THE TOWERING UNDERWATER WONDERS OF KELP FORESTS, WHICH MOST PEOPLE WOULD NOT OTHERWISE SEE, IN OUR TWO-STORY KELP FOREST EXHIBIT. BUT WILD KELP FORESTS ARE IN TROUBLE. FOR THE PAST 12 YEARS, WEST COAST KELP FORESTS HAVE SUFFERED CATASTROPHIC DECLINES DUE TO WARMING WATERS AND THE LOSS OF SEA STARS AND OTHER SPECIES THAT KEEP THE ECOSYSTEM IN BALANCE. WE MUST LEARN MORE, AND QUICKLY, ABOUT HOW KELP FORESTS FUNCTION AND WHAT MAKES THEM RESILIENT. AQUARIUM SCIENTISTS ARE CONDUCTING ESSENTIAL RESEARCH TO BETTER UNDERSTAND KELP FOREST ECOSYSTEMS AND THE FACTORS THAT CONTRIBUTE TO THEIR RECOVERY AND RESILIENCE. IN 2024 OUR SCIENCE TEAM CONDUCTED UNDERWATER RESEARCH IN MONTEREY BAY, SURVEYING SITES WITH KELP FORESTS IN VARYING CONDITIONS-SOME THAT PERSISTED THROUGH MARINE HEATWAVES, SOME THAT DECLINED BUT HAVE STARTED RECOVERING, AND OTHERS ESSENTIALLY DEVOID OF KELP AND DOMINATED BY URCHINS ON BARE ROCK (CALLED "URCHIN BARRENS"). RESEARCHERS COLLECTED DATA TO ASSESS THE DENSITY OF KELP, AND THE MOVEMENT, HEALTH, AND DENSITY OF INVERTEBRATES AND ALGAE ON REEFS IN EACH OF THESE HABITATS. THEY AIM TO DETERMINE WHAT FACTORS SUPPORT RECOVERING AND THRIVING KELP FORESTS. BLUEFIN TUNA: OLYMPIC ATHLETES OF THE OCEAN: BLUEFIN TUNA ARE AMAZING FISH THAT TRAVEL THOUSANDS OF MILES AT TOP SPEED AND MAINTAIN A BODY TEMPERATURE WARMER THAN THE SURROUNDING OCEAN. THEY ARE ALSO AMONG THE MOST DESIRED (AND ECONOMICALLY VALUABLE) FISH IN THE SEA. WITH TOO FEW RULES IN PLACE TO PREVENT OVERFISHING, ONCE-ABUNDANT PACIFIC BLUEFIN TUNA WERE HUNTED UNTIL JUST 2 PERCENT OF THEIR HISTORICAL POPULATION REMAINED. OVER THE PAST 30 YEARS, THE AQUARIUM HAS PLAYED A CENTRAL ROLE IN BRINGING THEM BACK. THERE'S STILL WORK TO DO, BUT THE PROSPECTS FOR THESE ICONIC FISH ARE MUCH BRIGHTER. THANKS TO INTERNATIONAL COOPERATION INFORMED BY SOLID SCIENCE, THE AQUARIUM'S MULTI-FACETED AND DECADES-LONG APPROACH TO TACKLING THE PROBLEM OF OVERFISHING PLAYED A KEY ROLE IN THEIR COMEBACK. IN OCTOBER 2024, FOR THE FIRST TIME EVER, OUR SEAFOOD WATCH PROGRAM MOVED SOME PACIFIC BLUEFIN TUNA FISHERIES OUT OF THE RED AS A SPECIES TO AVOID, PUTTING THEM BACK ON THE MENU FOR SEAFOOD LOVERS. THERE ARE STILL REASONS TO BE CAUTIOUS, BUT THIS IS REAL PROGRESS. OUR WORK TO RECOVER BLUEFIN TUNA HAS RANGED FROM INSPIRING MILLIONS OF GUESTS WITH EXHIBITS OF BLUEFIN AND YELLOWFIN TUNA, BOLSTERING THE SCIENCE BY TAGGING AND TRACKING TUNAS IN THE ATLANTIC AND PACIFIC, AND HIGHLIGHTING MANAGEMENT PROBLEMS THROUGH SCIENCE-BASED SEAFOOD WATCH RATINGS THAT EVALUATE THE SUSTAINABILITY OF GLOBAL FISHERIES. AQUARIUM POLICY STAFF TOOK ON OFFICIAL ADVISORY ROLES WITH U.S. GOVERNMENT DELEGATIONS TO INTERNATIONAL FISHERIES MANAGEMENT BODIES, COORDINATED WITH OTHER NGOS, AND WORKED DIRECTLY WITH OTHER NATIONAL DELEGATIONS. CELEBRATING 25 YEARS OF OUR SEAFOOD WATCH PROGRAM: IN 1997, WE OPENED A NEW EXHIBIT: FISHING FOR SOLUTIONS: WHAT'S THE CATCH? THE GOAL WAS TO INTRODUCE VISITORS TO THE INS AND OUTS OF COMMERCIAL FISHING AND AQUACULTURE WHILE EXPLORING SOLUTIONS TO PROBLEMS SUCH AS OVERFISHING, BYCATCH, AND COASTAL HABITAT DESTRUCTION. WE ALSO PLACED TENT CARDS ON OUR CAFE TABLES TO HIGHLIGHT THE SUSTAINABLE SEAFOOD THAT WE WERE SERVING. THESE CARDS PROVED IMMENSELY POPULAR-VISITORS TOOK THEM HOME AND WE RECEIVED A STEADY STREAM OF CORRESPONDENCE ASKING WHICH SEAFOOD ITEMS TO BUY OR AVOID. THE PUBLIC DEMAND FOR INFORMATION ABOUT SUSTAINABLE SEAFOOD WAS CLEAR. IN RESPONSE, WE LAUNCHED OUR SEAFOOD WATCH PROGRAM IN OCTOBER 1999, TO HELP CONSUMERS CHOOSE SEAFOOD FROM WELL-MANAGED FISHERIES AND FARMS. THE FISHING FOR SOLUTIONS EXHIBIT WAS TEMPORARY-BUT ITS LEGACY LIVES ON IN WAYS WE COULD NEVER HAVE IMAGINED. TODAY, WE ARE THE MOST RECOGNIZED SUSTAINABLE SEAFOOD RATINGS PROGRAM IN THE U.S. THIS COULD BE ATTRIBUTED TO OUR FIRM FOUNDATION IN SCIENCE AND POLICY. SINCE THE EARLY DAYS OF SEAFOOD WATCH, OUR SCIENTISTS HAVE ASSESSED THE TOP FISHERIES AND AQUACULTURE SPECIES IN THE U.S. MARKET AGAINST OUR SCIENCE-BASED STANDARDS FOR SUSTAINABLE FISHERIES AND AQUACULTURE. THESE SCIENTIFIC ASSESSMENTS ARE THE BACKBONE OF OUR WORK, ENABLING US TO INFORM THOUSANDS OF BUSINESSES AND MILLIONS OF CONSUMERS WHO ARE DRIVING SUSTAINABILITY IN THE SEAFOOD INDUSTRY THROUGH THEIR VOICES AND WALLETS. IN 2017, WE EXPANDED OUR SUSTAINABLE SEAFOOD WORK TO A GLOBAL SCALE. TODAY, OUR GLOBAL CONSERVATION TEAM IS ENGAGED IN A NUMBER OF SUSTAINABLE SEAFOOD PROJECTS AROUND THE WORLD. WE ARE WORKING TO REDUCE ANTIBIOTICS ON CHILEAN SALMON FARMS, TO IMPROVE SHRIMP AQUACULTURE PRACTICES AMONG SMALL-SCALE SHRIMP FARMERS IN ASIA, AND WITH THE GOVERNMENT IN THE PHILIPPINES TO HELP MAKE ITS BLUE SWIMMING CRAB FISHERY ENVIRONMENTALLY SUSTAINABLE. WHEN WE STARTED, WE EVALUATED THE SUSTAINABILITY OF SEAFOOD SOLELY ON THE ENVIRONMENTAL IMPACT OF THAT FOOD. MORE RECENTLY, WE INCORPORATED SOCIAL SUSTAINABILITY INTO OUR WORK BECAUSE EQUITY AND BASIC HUMAN RIGHTS FOR SEAFOOD WORKERS ARE ALSO A VITAL COMPONENT OF SUSTAINABILITY. THERE'S STILL A LOT OF ENVIRONMENTALLY RED-RATED SEAFOOD OUT THERE-WHICH IS WHY OUR WORK IS MORE IMPORTANT THAN EVER. BUT WE'VE SEEN GREAT SUCCESSES OVER THE PAST 25 YEARS. FOR EXAMPLE, OUR WORK HAS HELPED CATALYZE THE UPTAKE OF IMPROVED FISHING GEAR TO REDUCE BYCATCH SUCH AS TURTLE EXCLUDER DEVICES IN SHRIMP TRAWLING, MORE SELECTIVE BUOY GEAR IN SWORDFISH FISHERIES, AND ROPELESS TRAP GEAR TO REDUCE MAMMAL AND TURTLE ENTANGLEMENTS FROM VERTICAL FISHING LINES. WE'RE COMMITTED TO CONTINUING OUR WORK TO ADVOCATE FOR SUSTAINABLE SEAFOOD-AND TO SEE MORE SUCCESSES IN THE YEARS TO COME.
ACTING TO REDUCE PLASTIC POLLUTION:	AS A RESULT OF CAMPAIGNS TO RAISE AWARENESS AND SPUR ACTION, THE HAZARDS OF PLASTIC POLLUTION ARE BECOMING INCREASINGLY WELL-KNOWN AND THERE IS CONSIDERABLE MOMENTUM FOR CHANGE. WE'RE TACKLING THE PLASTIC PROBLEM IN MANY WAYS. WE ADVOCATE FOR LOCAL-TO-GLOBAL POLICIES THAT REDUCE THE FLOW OF PLASTIC FROM LAND TO SEA, CONTRIBUTE TO STUDIES ON HOW PLASTIC POLLUTION AFFECTS THE OCEAN AND OUR COMMUNITIES, AND MOBILIZE PEOPLE TO TAKE ACTION TO BRING ABOUT CHANGE. CHIEF CONSERVATION AND SCIENCE OFFICER MARGARET SPRING IS A LEADING VOICE ADVOCATING FOR EFFECTIVE SCIENCE-BASED ACTION ON PLASTIC POLLUTION, INCLUDING BY PARTICIPATING IN THE UN GLOBAL PLASTICS TREATY NEGOTIATIONS. REPRESENTING THE AQUARIUM AS WELL AS THE INTERNATIONAL SCIENCE COUNCIL, MARGARET JOINED DELEGATES FROM OVER 150 COUNTRIES, AND SCIENTISTS AND PUBLIC HEALTH EXPERTS TO ADVOCATE FOR GLOBAL PLASTIC REDUCTION AT TREATY NEGOTIATION MEETINGS IN 2024. WITH LEGAL EXPERTS AT THE ENVIRONMENTAL LAW INSTITUTE, WE CO-AUTHORED A REPORT ABOUT WAYS THE U.S. GOVERNMENT COULD ADVANCE NATIONAL ACTION TO CURB PLASTIC POLLUTION. FOLLOWING THE RELEASE OF THIS REPORT THE BIDEN-HARRIS ADMINISTRATION PUBLISHED A FIRST-EVER WHITE HOUSE-LEVEL STRATEGY AND ROADMAP FOR ENDING PLASTIC POLLUTION. DESPITE THE CHANGE IN ADMINISTRATIONS, WE WILL BE WORKING HARD IN THE COMING YEARS TO KEEP FROM BACKSLIDING ON THIS IMPORTANT COMMITMENT. IN CALIFORNIA, YOU MAY HAVE NOTICED PLASTIC GROCERY BAGS MAKING THEIR WAY BACK INTO STORES DESPITE LEGISLATIVE BANS. WE WORKED HARD IN 2024 ON A CLARIFYING BILL TO PUT AN END TO THEM (AGAIN). ON AUGUST 31, THE CALIFORNIA LEGISLATURE OVERWHELMINGLY PASSED SENATE BILL 1053, TO ENSURE THAT ONLY PAPER BAGS WILL BE DISTRIBUTED AT GROCERY CHECKOUTS. JULIE PACKARD HONORED FOR DECADES OF WORK: THE AQUARIUM HAS ACCOMPLISHED MUCH IN 40 YEARS: ADVANCING RECOVERY OF SOUTHERN SEA OTTERS, SHIFTING GLOBAL SEAFOOD PRODUCTION TOWARD SUSTAINABILITY, ENGAGING AND INSPIRING MORE THAN 2.7 MILLION STUDENTS, AND CONNECTING TENS OF MILLIONS OF PEOPLE WITH OCEAN LIFE. IT'S TAKEN A TALENTED TEAM TO ACHIEVE ALL THIS-AND JULIE PACKARD HAS BEEN THE GUIDING FORCE BEHIND OUR WORK SINCE WE OPENED. DURING OUR ANNIVERSARY YEAR, SHE RECEIVED THREE SIGNIFICANT HONORS REFLECTING ALL THAT THE AQUARIUM TEAM HAS ACCOMPLISHED. IN APRIL 2024, JULIE RECEIVED THE ROBERT R. HERMANN WORLD ECOLOGY AWARD FROM THE WHITNEY R. HARRIS WORLD ECOLOGY CENTER AT THE UNIVERSITY OF MISSOURI ST. LOUIS. SHE JOINED PREVIOUS HONOREES, INCLUDING JANE GOODALL, JACQUES COUSTEAU, E.O. WILSON, SYLVIA EARLE, AND HARRISON FORD. IN NOVEMBER 2024, SHE WAS RECOGNIZED BY THE ARTHUR C. CLARKE FOUNDATION WITH ITS INNOVATOR AWARD FOR HER GLOBAL LEADERSHIP IN OCEAN CONSERVATION AND PROMOTING OCEAN SCIENCE AND EDUCATION. AND IN JANUARY 2025, JULIE WAS NAMED A FINALIST FOR THE 2025 INDIANAPOLIS PRIZE, CONSIDERED THE "NOBEL PRIZE OF WILDLIFE CONSERVATION." SHE WAS HERALDED FOR LEADING THE CHARGE FOR THE SUSTAINABLE SEAFOOD MOVEMENT. HER NOMINATION IS IN RECOGNITION OF THE AQUARIUM'S GLOBAL SEAFOOD PROGRAM THAT IS GROUNDED IN ECOSYSTEM-BASED SCIENCE AND A MARKET-BASED APPROACH. AND IT CALLS OUT HER ROLE AS A LEADING VOICE FOR POLICY REFORM IN SUPPORT OF A HEALTHY OCEAN.
FORM 990, PART VI, SECTION A, LINE 2	JULIE PACKARD, CHRIS SCHOLIN, BARBARA WRIGHT, AND LISA WHITE HAVE A BUSINESS RELATIONSHIP. JULIE PACKARD AND LOUISE STEPHENS HAVE A FAMILY RELATIONSHIP AND BUSINESS RELATIONSHIP. MICHAEL MANTELL AND MARK WAN HAVE A BUSINESS RELATIONSHIP. GREG SILVERMAN AND GIDEON YU HAVE A BUSINESS RELATIONSHIP. JULIE PACKARD AND SUSAN ORR HAVE A FAMILY RELATIONSHIP AND BUSINESS RELATIONSHIP.
FORM 990, PART VI, SECTION B, LINE 11B	THE AQUARIUM'S CONTROLLER PROVIDES ALL INFORMATION NEEDED FOR THE FORM 990 TO HOOD & STRONG LLP BASED ON AUDITED FINANCIAL STATEMENTS. HOOD & STRONG PREPARES AND REVIEWS THE FORM 990 AND PROVIDES A DRAFT WHICH IS REVIEWED BY THE CONTROLLER, CFO, SECRETARY AND LEGAL COUNSEL, AND EXECUTIVE DIRECTOR WITH REVISIONS INCORPORATED AS NEEDED. UPON ACCEPTANCE OF THE FINAL VERSION, THE 990 IS SHARED FIRST WITH THE AUDIT COMMITTEE FOR ITS REVIEW AND THEN DISTRIBUTED TO THE FULL BOARD PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12C	THE EXECUTIVE DIRECTOR'S OFFICE ASSURES THAT ALL DISCLOSURE FORMS (AND MITIGATION PLANS, IF APPLICABLE) HAVE BEEN RECEIVED FROM ALL TRUSTEES AND OFFICERS BY JANUARY 31 OF EACH YEAR, PREPARES A SUMMARY OF DISCLOSURES, AND FORWARDS THE COMPLETED FORMS AND THE SUMMARY TO THE AQUARIUM'S CONFLICTS REVIEW PANEL, CONSISTING OF THE EXECUTIVE DIRECTOR, LEGAL COUNSEL, CHIEF PEOPLE & CULTURE OFFICER, AND CHIEF FINANCIAL OFFICER (CFO). TRUSTEES AND OFFICERS ALSO ACKNOWLEDGE RECEIPT AND UNDERSTANDING OF THE AQUARIUM'S COI POLICY IN CONJUNCTION WITH PROVIDING THE ANNUAL DISCLOSURES. FOLLOWING REVIEW BY THE PANEL, THE PANEL'S FINDINGS AND THE DISCLOSURES ARE PROVIDED TO THE BOARD'S AUDIT COMMITTEE, WHICH REVIEWS THE DISCLOSURES AND MAKES A REPORT TO THE BOARD AT ITS MARCH MEETING. BOTH THE PANEL AND THE AUDIT COMMITTEE ANNUALLY EVALUATE THE EFFECTIVENESS OF THE PROCESS. THE CFO AND CONTROLLER ASSURE APPROPRIATE REPORTING TO THE EXTERNAL AUDITORS AND TAX PREPARER. TRUSTEES AND OFFICERS HAVE A CONTINUING DUTY TO MAKE ADDITIONAL DISCLOSURES THROUGHOUT THE YEAR IF WARRANTED. EMPLOYEE CODE OF ETHICAL CONDUCT POLICY - THE CHIEF PEOPLE & CULTURE OFFICER FORWARDS THE CODE, WHICH INCLUDES A SECTION ON CONFLICTS OF INTEREST, TO ALL MANAGERS IN EARLY JANUARY EACH YEAR, AND ASSURES THAT EACH MANAGER RESPONDS THAT THEY HAVE READ IT AND ARE IN COMPLIANCE BY JANUARY 31. MANAGERS ARE ALSO REQUIRED TO DISCLOSE ANY INTERESTS WHICH COULD GIVE RISE TO CONFLICT, AND TO ASSURE THAT ANY STAFF IN THEIR AREAS WITH INTERESTS WHICH COULD GIVE RISE TO CONFLICT HAS DONE THE SAME. DISCLOSURES (AND MITIGATION PLANS, IF APPLICABLE) ARE REVIEWED BY THE EXECUTIVE DIRECTOR, CHIEF PEOPLE AND CULTURE OFFICER AND CFO BY MARCH. THIS TEAM ALSO EVALUATES THE EFFECTIVENESS OF THE PROCESS. THE CFO ASSURES APPROPRIATE REPORTING TO THE EXTERNAL AUDITORS AND TAX PREPARER. EMPLOYEES HAVE A CONTINUING DUTY TO MAKE ADDITIONAL DISCLOSURES THROUGHOUT THE YEAR IF WARRANTED.
FORM 990, PART VI, SECTION B, LINE 15	THE BOARD OF TRUSTEES MAINTAINS A PERFORMANCE EVALUATION PROCESS FOR THE CHIEF EXECUTIVE OFFICER, REFERRED TO AS THE EXECUTIVE DIRECTOR, WHO IS A MEMBER OF THE BOARD. THE BOARD'S COMPENSATION COMMITTEE, COMPRISED OF INDEPENDENT TRUSTEES, REVIEWS THE CEO'S PERFORMANCE WITH INPUT FROM OTHER BOARD MEMBERS, AND RECOMMENDS THE COMPENSATION OF THE CEO TO THE BOARD. THE COMMITTEE OBTAINS AND REVIEWS MARKET SURVEY DATA FROM SEVERAL INDEPENDENT ORGANIZATIONS CONTAINING DATA FOR COMPARABLE POSITIONS AT COMPARABLE ORGANIZATIONS. THE COMMITTEE PROVIDES THE PERFORMANCE REVIEW AND COMPARABLE SALARY INFORMATION TO THE BOARD AND RECOMMENDS THE CEO'S COMPENSATION. BASED UPON THE PERFORMANCE REVIEW AND COMPARABLE SALARY INFORMATION, THE INDEPENDENT MEMBERS OF THE BOARD DETERMINE THAT THE COMPENSATION IS FAIR, JUST AND REASONABLE AND THEN APPROVE TOTAL COMPENSATION FOR THE CEO. THE REVIEW AND APPROVAL IS CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES OF THE BOARD MEETING. THE COMPENSATION COMMITTEE COMPRISED OF INDEPENDENT TRUSTEES PERIODICALLY OBTAINS A MARKET SURVEY FROM AN INDEPENDENT COMPENSATION CONSULTANT AND REVIEWS DATA FROM SEVERAL INDEPENDENT ORGANIZATIONS FOR COMPARABLE POSITIONS AT COMPARABLE ORGANIZATIONS. THE COMMITTEE APPROVES THE TOTAL COMPENSATION STRATEGY FOR THE AQUARIUM, CONSISTENT WITH ITS MISSION AND VALUES. THE BOARD DELEGATED TO THE COMPENSATION COMMITTEE THE APPROVAL OF COMPENSATION FOR THE CHIEF FINANCIAL OFFICER, WHO IS NOT A MEMBER OF THE BOARD. THE COMMITTEE REVIEWS THE PERFORMANCE OF THE CHIEF FINANCIAL OFFICER, AND BASED UPON THE PERFORMANCE AND COMPARABLE SALARY INFORMATION, THE COMMITTEE DETERMINES THAT THE COMPENSATION IS FAIR, JUST AND REASONABLE, AND APPROVES COMPENSATION FOR THE CFO. THE COMMITTEE REVIEWS THE PROPOSED COMPENSATION OF ANY OTHER OFFICER OR SENIOR STAFF REPORTING TO THE EXECUTIVE DIRECTOR/CEO, OR WHO IS HIGHLY COMPENSATED AS SPECIFICALLY REPORTED ON THE FORM 990. THE REVIEW AND APPROVAL ARE CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES OF THE COMMITTEE MEETING.
FORM 990, PART VI, SECTION C, LINE 19	THE CONFLICTS OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE PROVIDED UPON REQUEST WITHIN TWO BUSINESS DAYS. COPIES OF AUDITED FINANCIAL STATEMENTS AND THE TAX FORM 990 ARE AVAILABLE TO THE PUBLIC ON THE ORGANIZATION'S WEBSITE.
FORM 990, PART XI, LINE 9:	CHANGE IN INTEREST IN CHARITABLE TRUSTS 324,330. CHANGE IN ALLOWANCE FOR UNCOLLECTIBLE PLEDGES -62,165.

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE R
(Form 990)
(Rev. January 2025)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

Open to Public Inspection

Name of the organization

MONTEREY BAY AQUARIUM FOUNDATION

Employer identification number

94-2487469

Part I

Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.

(a) Name, address, and EIN (if applicable) of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity

Part II

Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	Yes	No

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50135Y

Schedule R (Form 990) (Rev. 1-2025)

Page 2

Part III

Identification of Related Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, because it had one or more related organizations treated as a partnership during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Part IV

Identification of Related Organizations Taxable as a Corporation or Trust. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	(i) Section 512(b)(13) controlled entity?
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity	(e) Type of entity (C corp, S corp, or trust)	(f) Share of total income	(g) Share of end-of-year assets	(h) Percentage ownership	Yes	No
(1) CHARITABLE LEAD ANNUITY TRUST (1)	INVESTMENTS	CA	MONTEREY BAY AQUARIUM FOUNDATION	T				Yes

Schedule R (Form 990) (Rev. 1-2025)

Page 3

Part V

Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.

Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................

b Gift, grant, or capital contribution to related organization(s) ............................

c Gift, grant, or capital contribution from related organization(s) ............................

d Loans or loan guarantees to or for related organization(s) ............................

e Loans or loan guarantees by related organization(s) ............................

f Dividends from related organization(s) ............................

g Sale of assets to related organization(s) ............................

h Purchase of assets from related organization(s) ............................

i Exchange of assets with related organization(s) ............................

j Lease of facilities, equipment, or other assets to related organization(s) .......................

k Lease of facilities, equipment, or other assets from related organization(s) ......................

l Performance of services or membership or fundraising solicitations for related organization(s) .....................

m Performance of services or membership or fundraising solicitations by related organization(s) .................

n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................

o Sharing of paid employees with related organization(s) ............................

p Reimbursement paid to related organization(s) for expenses ............................

q Reimbursement paid by related organization(s) for expenses ............................

r Other transfer of cash or property to related organization(s) ............................

s Other transfer of cash or property from related organization(s) ............................

Yes

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved
(1) CHARITABLE LEAD ANNUITY TRUST	S	1,500,000	FMV

Schedule R (Form 990) (Rev. 1-2025)

Page 4

Part VI

Unrelated Organizations Taxable as a Partnership. Complete if the organization answered "Yes" on Form 990, Part IV, line 37.

Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.

(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(e) Are all partners section 501(c)(3) organizations?		(f) Share of total income	(g) Share of end-of-year assets	(h) Disproprtionate allocations?		(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	(j) General or managing partner?		(k) Percentage ownership
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No	(k) Percentage ownership

Schedule R (Form 990) (Rev. 1-2025)

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R. See instructions.

Return Reference	Explanation

Schedule R (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

1	Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
2	Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to separately file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A; don't file with Form 990). . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
3	Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471). . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
4	Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621) .	Yes	No
5	Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships (see Instructions for Form 8865). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
6	Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990).. . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No