Financials & Governance
Your trust, earned openly
Donors deserve to know exactly how a charity is organized, governed, and funded. Here is how New Discoveries Inc. holds itself accountable.
Our Standing
A recognized public charity
New Discoveries Inc. is a nonprofit corporation recognized by the IRS as a 501(c)(3) public charity, IRS Tax ID (EIN) 99-1824697, based in Fort Pierce, Florida. Our IRS determination letter and articles of incorporation are published below.
Contributions are tax deductible to the extent allowed by law. Donors receive written acknowledgment of every gift for their tax records.
Like every public charity, we report to the IRS annually. At our current size that is Form 990-N, the e-Postcard, which confirms gross receipts of $50,000 or less; as we grow we will file the full Form 990 and publish it here. Our IRS determination letter, filings, and governing documents are published in the Documents section below as they are finalized, and any of them is available by email within five business days.
Candid Platinum Seal of Transparency, 2026. Candid's highest level, on the nonprofit database foundations and donor-advised funds check before giving. Platinum means our basics, programs, leadership, IRS filing, strategy, and measured results are all published there. Earned August 2026.
At a glance
Legal name: New Discoveries, Incorporated
Incorporated: March 4, 2024, Florida not-for-profit corporation, document N24000003066
Status: 501(c)(3) public charity, IRC 170(b)(1)(A)(vi)
EIN: 99-1824697
Exempt since: March 7, 2024 (IRS determination letter dated October 28, 2024)
Fiscal year: calendar year
Annual IRS filing: Form 990-N (e-Postcard) for tax year 2025 on file with the IRS, gross receipts $50,000 or less
Florida charitable registration: registration number CH84999, issued by the Florida Department of Agriculture and Consumer Services September 1, 2026 under Chapter 496, Florida Statutes; exempt from the registration fee as a small charitable organization, renewable annually, expires September 1, 2027
Museum building: location in Fort Pierce being finalized (August 2026)
Candid profile: Platinum Seal of Transparency, 2026
Location: Fort Pierce, Florida
Contact: michael.bomhoff@new-discoveries.org, 803-297-2847
Disclosure
Our relationship with Treasure Experience
Donors and grant reviewers should not have to discover this on their own, so here it is in plain language.
Treasure Experience, LLC is a for-profit Florida company. It raises capital from private investors to fund shipwreck search and recovery operations: the vessels, the equipment, the crews, and the dive seasons. New Discoveries Inc. is a separate nonprofit corporation with its own board, its own books and bank accounts, and its own IRS filings.
The two organizations signed a joint venture affiliate agreement on November 20, 2024, with a five-year term. What it says, in plain terms:
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Treasure Experience funds and runs the expeditions
It is financially responsible for its vessels, equipment, personnel, and budgets. Donor dollars do not buy boats.
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New Discoveries is the custodian of recovered artifacts
Objects identified and appraised as artifacts come under nonprofit custody for conservation, preservation, safekeeping, and public display, rather than private sale.
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New Discoveries leads the nonprofit work
The museum, the virtual museum, education programs, grants, and every project that requires a public charity at the helm.
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Commercial proceeds stay on the commercial side
The venture may produce media, content, and merchandise around the work. Any commercial proceeds are allocated under the agreement and Treasure Experience's investor documents, not through the charity.
Shared people, and how we handle it
Michael Bomhoff is Executive Director of New Discoveries and Chief Technology Officer of Treasure Experience. Marc Geriene is Special Projects Director of New Discoveries and Managing Director of Treasure Experience. These overlaps are how a small organization gets shipwreck expertise and vessels it could never afford to own, and they are also exactly what a careful donor should ask about.
So the board treats every decision involving Treasure Experience as a related-party matter: it is disclosed, recorded in the minutes, and directors with an interest in Treasure Experience do not vote on it. Contributions to New Discoveries are used for New Discoveries' programs and are not used to fund Treasure Experience's commercial operations.
Why work this way at all
Locating and recovering a colonial shipwreck costs millions of dollars a season. No young charity can raise that from donors, and no responsible one should try. This structure lets private capital carry the risk of the search while the objects that matter to history end up in a museum, under nonprofit stewardship, in public view.
Documents
What we publish
Reputable charities post their papers where anyone can read them. This list shows only what is actually published; nothing is listed here until it is.
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What belongs on this list
IRS determination letter. Annual Form 990 filings. Articles of incorporation and bylaws. Conflict-of-interest policy. Annual reports and financial summaries as each year closes. If something you expect is not here yet, ask and we will send it.
Where the Money Goes
Funds follow the mission
Spending is directed by our board-adopted Guiding Initiatives. Contributions support these program areas:
Museum development
Design, construction, and exhibits for the flagship Fort Pierce museum.
Virtual museum platform
Digitization, VR/AR development, and the technology connecting museums worldwide.
Education programs
Curriculum, classroom AR, and school pilots that bring history to students.
Artifact recovery & conservation
Supporting recovery expeditions, conservation, and public display of shipwreck artifacts.
Community & partnerships
Outreach, museum partnerships, and events that open the mission to everyone.
Administration
The essential governance, compliance, and fundraising work that keeps a charity healthy, kept lean by design.
As our programs grow, this page will carry our annual reports and financial summaries so donors can follow the numbers year over year.
Governance
Who watches the mission
New Discoveries Inc. is governed by a Board of Directors that sets strategy, adopts the Guiding Initiatives, and oversees every program. Board members serve without compensation.
Michael Bomhoff
Executive Director
Leads the organization's museum and technology initiatives under board oversight.
Krist Geriene
Vice President & Secretary
Provides strategic oversight, governance, and corporate record-keeping.
Marc Geriene
Special Projects Director
Leads special projects and global relationships under a board-approved mandate.
Our commitments to donors
New Discoveries adopts the Donor Bill of Rights developed by the Association of Fundraising Professionals and its partner organizations. In our own words, every donor is entitled:
- To know our mission, how we intend to use your gift, and our capacity to use it effectively.
- To know who serves on our board, and to expect the board to exercise prudent judgment in its stewardship.
- To have access to our most recent financial statements and IRS filings.
- To be assured that a gift designated for a specific program is used for that program.
- To receive appropriate acknowledgment and recognition, in writing, for every gift.
- To be assured that information about your gift is handled with respect and confidentiality, and that your name is never sold, rented, or traded.
- To expect that everyone representing New Discoveries treats you professionally.
- To be told whether the person asking for your gift is a volunteer, an employee, or a hired solicitor. Today, no one is paid to raise money for us.
- To have your name removed from any mailing list, and to be asked before your name is used publicly, including on the Founders' Wall and the Honor Roll.
- To ask questions and receive prompt, truthful, forthright answers.
Questions welcome
Accountability means answering questions before you give, not after. If you want to understand our finances, our governance, or our plans in more detail, write to us and the Executive Director will respond personally.
The Dispatch
Field updates from the expeditions, the archive, and the museum build. No spam, no selling your data, unsubscribe anytime.
Give With Confidence
Now you know where it goes
Every gift builds museums, digitizes history, and teaches the next generation, on the record.