SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet 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.
SchDMd Bullet Attach to Form 990.
SchDMd Bullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2019
Open to Public Inspection
Name of the organization
Virginia Aquarium & Marine Science Center
Foundation Inc
Employer identification number

52-1272309
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 ........    
5
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? ............
6
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? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
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.
Held at the End of the 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 7/25/06, and not on a historic structure listed in the National Register ... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet $  
8
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)? .............................
9
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.
1a
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.
b
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 .........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
2
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:
a
Revenue included on Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2019
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Schedule D (Form 990) 2019
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Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
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):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
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?...
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.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
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  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
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 .... 2,597,076 2,574,459 2,448,420 2,251,514 2,440,663
b Contributions ... 750,181   36,595 17,769 25
c Net investment earnings, gains, and losses 79,711 153,410 232,489 262,627 -93,840
d Grants or scholarships ...          
e Other expenditures for facilities
and programs ... 		126,136 130,793 143,045 83,490 95,334
f Administrative expenses ....          
g End of year balance ...... 3,300,832 2,597,076 2,574,459 2,448,420 2,251,514
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet33.910 %
b
Permanent endowment SchDMd Bullet16.620 %
c
Term endowment SchDMd Bullet49.470 %
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
 
 
(ii) Related organizations .................
3a(ii)
 
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
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 .....      
b Buildings ....        
c Leasehold improvements   114,727 73,071 41,656
d Equipment ....   24,670,517 7,304,060 17,366,457
e Other .....        
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..SchDMdBullet 17,408,113
Schedule D (Form 990) 2019
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Schedule D (Form 990) 2019
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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
(B)
(C)
(D)
(E)
(F)
(G)
(H)
(I)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet  
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
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
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
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
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 0
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 0
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) 2019
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Schedule D (Form 990) 2019
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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 5,569,050
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a 48,469
b Donated services and use of facilities ......... 2b 1,421,099
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d 55,863
e Add lines 2a through 2d ..................... 2e 1,525,431
3 Subtract line 2e from line 1.................. 3 4,043,619
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  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b.................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 4,043,619
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 4,306,266
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a 1,421,099
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d 55,001
e Add lines 2a through 2d.................... 2e 1,476,100
3 Subtract line 2e from line 1................... 3 2,830,166
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  
b Other (Describe in Part XIII.) ............ 4b  
c Add lines 4a and 4b..................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 2,830,166
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
ANIMAL COLLECTIONS, Sch D, Part III Line 1A In accordance with industry practice, the Foundation's collections of marine animals are not capitalized and recognized as assets in the statements of financial position. The Foundation holds its collections for public exhibition, education and research rather than for financial gain. It protects, cares for, preserves and keeps its collections unencumbered. Additionally, it is impracticable to attempt to assign values to the collection because the animals have certain attributes, such as species, sex, age, breeding potential, and relationship to others in the ecosystem that make it difficult to determine an objective basis for valuation. The value of collection items purchased by the Foundation is reported in the statement of activities as collections. Contributed collection items are not reflected in the financial statements.
EXEMPT PURPOSE, Sch D, part III line 4 Mission: The mission of the Virginia Aquarium & Marine Science Center is to inspire conservation of the marine environment through education, research, and sustainable practices. About Us: In 2020, the Virginia Aquarium & Marine Science Center celebrated 34 years of conservation through education as it continues to carry out its mission to teach people about the marine environment. After many years of planning and hard work, the Virginia Marine Science Museum (VMSM) opened with much fanfare on June 14, 1986 and was a resounding success from the very beginning. During the first three months, more than 100,000 visitors came to the museum, exceeding attendance projections by an astonishing 45 percent. Visitors took a journey of water through three different habitats. Although many museums typically experience a dramatic drop-off in attendance after the first year or two, VMSM enjoyed steady attendance. Based on the museums success, the staff began planning in 1990 for Phase II, a project that would triple the size of the facility to 120,000 square feet with two building and more than 45 acres of land. A key step in the expansion process was the Virginia Beach City Council approval in 1992 of $32.8 million from the Tourism Growth Investment Fund. After quietly working behind the scenes for more than a year, the Foundation publicly launching a $5 million capital campaign in 1994 to pay for the new exhibits. That same year, the U.S. Navy designated 50 acres of land on Owls Creek salt marsh, across from the Museum, as a protected Watchable Wildlife Area, the first area in Virginia to receive this designation. The expanded museum opened on June 14, 1996 exactly 10 years after the original opening. Highlights included the theater, which at the time was one of only a handful of IMAX 3D theaters in the nation. The new Ocean Pavilion and its 300,000-gallon aquarium with several species of sharks thrilled visitors, and the 70,000-gallon sea turtle aquarium provided close-up views of these endangered creatures. Visitors also delighted in the antics of harbor seals and river otters, and the new Owls Creek Marsh Pavilions at the end of an expanded nature trail emphasized marsh creatures and birds in the outdoor aviary. During 1996, more than 692,000 people visited the facility, which exceeded first year attendance projections of 650,000. Once again, the typical attendance peak and subsequent dramatic drop after the first two years did not occur; instead, the attendance has remained close to 600,000. The number of fulltime staff doubled, and with the new exhibits came many opportunities for expanded educational programming. In 2004, the facilitys name changed to Virginia Aquarium & Marine Science Center. Today, the Virginia Aquarium & Marine Science Center is operated through a public-private partnership between the City of Virginia Beach and the Virginia Aquarium & Marine Science Center Foundation. The City owns and maintains the Aquariums buildings and provides administrative support, while the Foundation procures and maintains the collection of animals and exhibits. The Foundation is also responsible for fundraising efforts and various scientific research, education, and conservations projects. Over 600,000 visitors from every state in the nation and many foreign countries visit annually to learn about the marine environment. Over time and with input from many sources, especially the strategic planning process, the staff developed an exciting plan for the Virginia Aquarium. Rather than expand again, the original building was transformed by replacing aging exhibits with habitats simulating ecosystems from around the world that were present during Virginias prehistory. The Restless Planet, a $25 million renovation, opened in 2009. The exhibit galleries features a Malaysian peat swamp boasting two Tomistoma crocodiles; a coastal desert similar to a Mediterranean coast; a 120,000 gallon walk-through Red Sea aquarium with spotted eagle rays and a zebra shark; and a volcanic area similar to the Komodo Islands in Indonesia, complete with Komodo dragons. The Foundation provided $9 million to this project. Also, in 2009, the Virginia Aquarium formed a partnership with a photography company as an additional source of revenue during guests visits. Guests are able to take souvenir photos prior to entering the Aquarium and exploring. At the end of their visit, they can purchase the photo as a keepsake memory of their trip. In 2015, this partnership was awarded to Photogenic and remains as such. The Virginia Aquarium continued its on-campus expansion with the May 30, 2014 opening of the Adventure Park at Virginia Aquarium. The joint venture between the Aquariums non-profit Foundation and the Outdoor Venture Group, the designers, builder, and operator of the park, features several ropes and zipline challenge courses for guests of all age and experience levels. As leaders in coastal and marine environmental conservation, research, and preservation, the Virginia Aquarium boat trips bring the ocean to you. Since 1989, our boat trips have been staffed by knowledgeable marine educators engaging in responsible viewing practices, research, and conservation. Our partnership with Rover Cruises began Feb. 14, 2015 and continues to this day, offering whale watching and dolphin boat trips, with some specialty tours. On February 26, 2015, the netting on the Aviary collapsed after a small snowstorm. After analyzing the total annual operating costs of the Aviary, the Aquarium chose to utilize the insurance funds for New Exhibits as part of the South Building renovation rather an rebuild the old structure. After the passing of one False gharial crocodile and the transport of another to a crocodile park in St. Augustine, Florida, the Aquarium was in search of new animals for the Restless Planet exhibit. Through months of hard work, the Aquarium procured two False gharial (Tomistoma) crocodiles from a Malaysian crocodile expert and brought them to Virginia Beach in the first permitted import of Tomistoma from a range country to the United States since 1974. Ralf and Sommer, named after Ralf Sommerlad, a renowned crocodilian expert, joined the Aquarium on October 31, 2015. The Aquariums success with reptiles continued, with staff discovering two hatchling Komodo dragons on exhibit on August 18, 2016. The baby dragons, Bejo and Kado, were the product of breeding between Teman, the male dragon, and the late female dragon, Jude. Jude, prior to her passing, dug an egg chamber on the exhibit, allowing the eggs to incubate and hatch, all without giving staff any indication. On September 18, 2016, the Chesapeake Bay Aquarium closed with a final dive in advance of renovation to the exhibit. This reimaging saw a change from the original blue walls and rockwork to a more natural design reminiscent of Kiptopeke State Park. The exhibit reopened on December 13, 2017 with the reintroduction of the tarpon. The project continued the public/private partnership with the City and Foundation. With the City investing $1.5 million and the Foundation paying $250,000 for the newly renovated Aquarium. One of our most visible and iconic areas, the harbor seal exhibit, received some special attention in early April 2018, as we renovated the seal pool and acrylic panes. Additional renovations to the Bay & Ocean Pavilion occurred June 2018 in the bathrooms in the lobby area and a complete redesign of the existing Caf. The restrooms acquired new energy efficient and water efficient fixtures, as well as low-flow toilets aimed at reducing the carbon footprint. The all-new Caf improved flow to ordering and paying for meals and a revamped menu! On World Autism Awareness Day April 2, 2019, the Virginia Aquarium & Marine Science announced a new partnership with KultureCity, an organization dedicated to helping businesses become more inclusive of guests with sensory processing disorders. As part of this new partnership, the Virginia Aquarium became certified as Sensory Inclusive by KultureCity. This certification includes staff training on sensory processing disorders and the best ways to help guests with them, creation of a social story to prepare guests with sensory processing disorders prior to their visit, creation of quiet zones, and acquisition of on-site resources. The Virginia Aquarium & Marine Science Center was closed March 19, 2020 June 14, 2020 due to the Covid19 pandemic that swept the country. In compliance with a phased opening plan set forth by the Governor of Virginia and consultation with City of Virginia Beach leadership, the Aquarium welcomed guests back starting June 19, 2020 (with Members-only visitation June 15 June 18, 2020). New safety measures and limited capacity requirements were implemented to help keep guests, staff, volunteers, and animals safe. During the closure, the Aquarium made the difficult decision to permanently close the Giant Screen Theater for movie showings. Other tempo
FIN 48 TAX POSITIONS, Sch D, Part X, line 2 Management continually evaluates tax positions reflected in the Foundation's tax filings and does not believe that any material uncertain tax positions exist.
RECONCILIATION Schedule D PART XI PART XI LINE 2D INCLUDES THE SUM OF FACILITY RENTAL EXPENSES [$61,237] AND GAIN ON DISPOSITON OF DEPRECIABLE ASSETS [$26,068] REPORTED ON FORM 990 PART VIII, NET OF INVESTMENT MANAGEMENT FEES [$31,442] REPORTED ON FORM 990 PART IX.
RECONCILIATION Schedule D PART XII PART XII LINE 2D INCLUDES THE SUM OF FACILITY RENTAL EXPENSES [$61,237] AND GAIN ON DISPOSITON OF DEPRECIABLE ASSETS [$26,068] REPORTED ON FORM 990 PART VIII, NET OF THE SUM OF INVESTMENT MANAGEMENT FEES [$31,442] AND ANIMAL COLLECTION EXPENSES [$862] REPORTED ON FORM 990 PART IX.
Schedule D (Form 990) 2019


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