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← AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION

Form 990 for tax year 2023

Filed by AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION.

Totals

Total revenue
$19,747,898
Total expenses
$30,619,405
Contributions and grants received
$19,290,786
Grants paid
$30,195,939
Program service revenue
$0
Investment income
$457,112
Other revenue
$0
Total assets, end of year
$20,673,378
Total liabilities, end of year
$11,871,473
Net assets or fund balances, end of year
$8,801,905
Program services expenses (Part IX)
$30,216,039
Management and general expenses
$173,978
Fundraising expenses
$229,388
Program service expenses (Part III)
$30,216,039

Program services were 98.7% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $19,290,786

  • 3 · Investment income

    total $457,112 · excluded $457,112

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $30,195,939 · program services $30,195,939

  • 11c · Fees: accounting

    total $28,300 · management and general $28,300

  • 11g · Fees: other

    total $327,231 · program services $20,100 · management and general $77,743 · fundraising $229,388

  • 13 · Office expenses

    total $46,353 · management and general $46,353

  • 23 · Insurance

    total $19,711 · management and general $19,711

  • 24a · Other expenses: TRANSPORT & STORAGE

    total $1,871 · management and general $1,871

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $19,014,256 · end of year $20,340,393

  • 3 · Pledges and grants receivable

    beginning of year $26,325,730 · end of year $316,677

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,203 · end of year $16,308

  • 17 · Accounts payable and accrued expenses

    beginning of year $169 · end of year $67,449

  • 19 · Deferred revenue

    beginning of year $25,684,608 · end of year $11,804,024

  • 27 · Net assets without donor restrictions

    beginning of year $19,288,960 · end of year $8,652,662

  • 28 · Net assets with donor restrictions

    beginning of year $384,452 · end of year $149,243

Mission and programs · 2023

Mission

TO PRESERVE AND PROTECT THE NATURAL OCEAN ENVIRONMENT FOR THE BENEFIT OF THE PUBLIC INCLUDING (I) PROMOTING, DEVELOPING AND PERFORMING THE ENVIRONMENTALLY FRIENDLY, LARGE-SCALE AND EFFICIENT EXTRACTION AND REMOVAL OF WASTE FROM OCEANS, SEAS AND OTHER WASTE AREAS, AND (II) PROMOTING, DEVELOPING AND PERFORMING THE ENVIRONMENTALLY FRIENDLY RECYCLING OF SUCH WASTE.

Activities or mission (Part I)

TO PRESERVE AND PROTECT THE NATURAL OCEAN ENVIRONMENT FOR THE BENEFIT OF THE PUBLIC.

  • AMERICAN FRIENDS OF THE OCEAN CLEANUP, FOUNDATION ("THE FOUNDATION") IS RESPONSIBLE FOR SOLICITING DONATIONS IN THE U.S, PRIMARILY TO SUPPORT CLEAN UP INITIATIVES IN OCEANS, RIVERS, AND OTHER BODIES OF WATER AROUND THE WORLD. THESE DONATIONS ARE REVIEWED BY AN INDEPENDENT BOARD, AND CERTAIN GRANTS ARE APPROVED TO BE MADE TO THE RELATED DUTCH ORGANIZATION, STICHTING THE OCEAN CLEANUP ("STICHTING"), TO BE USED IN SUPPORT OF THEIR MISSION, WHICH IS ALIGNED WITH THE FOUNDATION'S MISSION OF PROTECTING THE OCEANS, THROUGHOUT THE WORLD. THE FOUNDATION HAS FULL CONTROL AND DISCRETION OVER THE DONATED FUNDS IT RECEIVES AND MAINTAINS PROPER INTERNAL CONTROLS AND PROCESSES FOR THE APPROVAL OF GRANTS TO STICHTING.

    Expenses $30,216,039 · Grants $30,195,939

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • BOYAN DAMIR SLAT

    PRESIDENT

    Total calculated
    $160,703
    From this org
    $0
    From related orgs
    $160,703
    Other
    $0
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $160,703 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0 + $160,703 related

  • JOY GAO

    TREASURER

    Total calculated
    $89,571
    From this org
    $0
    From related orgs
    $89,571
    Other
    $0
    Hours/week
    1 + 40 related

  • CARL MR VAN DER ZANDT

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • ROBERT C PARKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PETER SCHWARTZ

    DIRECTOR (FROM 07/23)

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • STICHTING THE OCEAN CLEANUP

    PROTECT AND PRESERVE OCEAN ENVIRONMENT · NL

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • THE OCEAN CLEANUP PROJECTS BV

    PROTECT AND PRESERVE OCEAN ENVIRONMENT · NL

    Directly controlled by STICHTING THE OCEAN CLEANUP

  • THE OCEAN CLEANUP TECHNOLOGIES BV

    PROTECT AND PRESERVE OCEAN ENVIRONMENT · NL

    Directly controlled by STICHTING THE OCEAN CLEANUP

  • THE OCEAN CLEANUP INTERCEPTION BV

    PROTECT AND PRESERVE OCEAN ENVIRONMENT · NL

    Directly controlled by STICHTING THE OCEAN CLEANUP

  • THE OCEAN CLEANUP OPERATIONS BV

    PROTECT AND PRESERVE OCEAN ENVIRONMENT · NL

    Directly controlled by STICHTING THE OCEAN CLEANUP

Provenance

Return type
form_990
Tax year
2023
Filed
6 September 2024
IRS schema version
2023v5.1
Source object
202412539349300101

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