According to The Marine Mammal Center audit of September 30, 2022 (Note 12, Donated Materials and Services), the Center received donated materials and services during fiscal 2022 on which it placed a total value of $263,638, including $101,078 and $80,173 in donated "Advertising and public relations" and "Legal and other services," respectively. [Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.]
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According to The Marine Mammal Center audit of September 30, 2022 (Note 13, Employee Retention Tax Credit): "The Employee Retention Credit ('ERC'), a refundable tax credit against certain employment taxes allowed to an eligible employer for qualifying wages, was established by the Coronavirus Aid, Relief, and Economic Security ("CARES") Act and was subsequently amended through additional legislation. The tax credit is equal to 50% of the qualified wages, up to $10,000 per employee, that an employer whose business has been financially impacted by COVID-19 pays to employees after March 12, 2020 and before January 1, 2022. During fiscal year 2021, the Center determined it was eligible to apply for the ERC and calculated a total ERC of $1,817,427 for the wages paid during the period March 13, 2020 through June 30, 2021. As the Center met the conditions to receive the ERC credits during the year ended September 30, 2021, based on partial shutdown of operations due to government orders and a decline in gross receipts, the full amount of revenue was recognized during 2021. During 2021 and 2022, the Center collected a combined total of $1,150,521 in ERC credits. The remaining $666,906 is recorded as a receivable as of September 30, 2022..." |
According to The Marine Mammal Center audit of September 30, 2022 (Note 15, Commitments and Contingencies, Cooperative agreement): "The Center occupies most of its land through license agreements, the largest of which is the seven-acre site in the Marin Headlands, Golden Gate National Recreation Area... In 2002, the National Park Service ('NPS') issued a memorandum regarding the imposition of service district charges on an annual basis. In August 2007, the NPS and the Center finalized a twenty-five (25) year Cooperative Agreement (the 'Agreement'), which requires the Center to pay monthly service district charges to cover common area maintenance services. Monthly service district charges are determined upon obtaining a special use permit every year. The total service district charges were $90,212 during the year ended September 30, 2022."
According to The Marine Mammal Center audit of September 30, 2022 (Note 15, Commitments and Contingencies, Land license agreements): "In 2001, the Center entered into agreements with LSP Morro Bay, LLC (the 'Morro Licensor') and LSP Moss Landing (the 'Moss Licensor') (collectively, the 'Licensors') to construct, operate and maintain two triage facilities for twenty (20) years commencing June 1, 2001. The Center paid $20 to each Licensor for the right to occupy the property where the triage facilities were constructed, and fund the property improvements... The Center shall also pay an annual licensor fee of $1 per year to each licensor for occupancy. The Licensors reserve the right to terminate the agreements at any time during the term of the agreement, with or without cause and without obligation to the Center, by having written notice delivered to the Center ninety days prior to the termination date specified in the notice. In 2007, the original Moss Licensor sold the Moss Landing property to Dynegy Moss Landing, LLC ('Dynegy'). In April 2018, Dynegy merged with Vistra Energy Corp. ('Vistra'). The Licensor agreement with the Center transferred with the sale of the property. During 2021, the Center entered into a new agreement with Dynegy, extending the license to occupy the property through December 31, 2023." |
According to The Marine Mammal Center audit of September 30, 2022 (Note 16, Subsequent Events): "On October 14, 2022, the Center entered into a lease agreement with PIER 39 Limited Partnership, a California limited partnership, for space previously called the Sea Lion Center. The Center will operate a visitor center and educational experience highlighting the California Sea Lions and other marine mammals which have taken up residence at Pier 39, in the San Francisco Bay and the ocean environment. The Center has the right to sell memberships, solicit donations, and sell retail merchandise related to the theme of marine mammals and the conservation of their marine environment, including the local ecosystem. Minimum monthly rent, percentage rent and any common area expense have been waived for the term of the lease. The lease expires December 31, 2027, with an additional period of fifty-five months at the Center's option. The Center has evaluated subsequent events through January 27, 2023, the date of the financial statements were available to be issued. No other events have occurred that would have a material impact on the presentation of the Center's financial statements."
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