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Nonprofiteer
← OCEAN VISIONS INC

Form 990 for tax year 2023

Filed by OCEAN VISIONS INC.

Totals

Total revenue
$3,574,949
Total expenses
$2,480,224
Contributions and grants received
$3,404,286
Grants paid
$295,000
Program service revenue
$0
Investment income
$166,469
Other revenue
$4,194
Total assets, end of year
$5,209,733
Total liabilities, end of year
$162,736
Net assets or fund balances, end of year
$5,046,997
Program services expenses (Part IX)
$2,243,005
Management and general expenses
$179,716
Fundraising expenses
$57,503
Program service expenses (Part III)
$2,243,005

Program services were 90.4% 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

    $3,404,286

  • 3 · Investment income

    total $166,469 · excluded $166,469

  • 11d · All other revenue

    total $4,194 · excluded $4,194

  • 11e · Other revenue, total

    $4,194

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $65,000 · program services $65,000

  • 3 · Grants to foreign organizations and individuals

    total $230,000 · program services $230,000

  • 5 · Compensation of officers, directors and key employees

    total $337,765 · program services $307,366 · management and general $16,888 · fundraising $13,511

  • 7 · Other salaries and wages

    total $951,846 · program services $866,181 · management and general $47,591 · fundraising $38,074

  • 9 · Other employee benefits

    total $59,521 · program services $54,164 · management and general $2,976 · fundraising $2,381

  • 10 · Payroll taxes

    total $88,436 · program services $80,477 · management and general $4,422 · fundraising $3,537

  • 11b · Fees: legal

    total $2,770 · management and general $2,770

  • 11c · Fees: accounting

    total $74,206 · management and general $74,206

  • 11g · Fees: other

    total $366,040 · program services $355,597 · management and general $10,443

  • 12 · Advertising and promotion

    total $2,620 · program services $2,314 · management and general $306

  • 13 · Office expenses

    total $9,794 · program services $3,830 · management and general $5,964

  • 14 · Information technology

    total $11,210 · program services $11,103 · management and general $107

  • 17 · Travel

    total $173,833 · program services $171,867 · management and general $1,966

  • 19 · Conferences, conventions and meetings

    total $76,420 · program services $76,420

  • 22 · Depreciation, depletion and amortization

    total $1,665 · management and general $1,665

  • 23 · Insurance

    total $3,412 · management and general $3,412

  • 24a · Other expenses: DUES AND SUBSCRIPTIONS

    total $21,697 · program services $17,305 · management and general $4,392

  • 24e · All other expenses

    total $3,989 · program services $1,381 · management and general $2,608

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $118,917 · end of year $175,727

  • 2 · Savings and temporary cash investments

    beginning of year $3,793,839 · end of year $4,983,547

  • 3 · Pledges and grants receivable

    beginning of year $110,000 · end of year $10,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,344 · end of year $38,010

  • 10a · Land, buildings and equipment: cost or other basis

    $5,955

  • 10b · Land, buildings and equipment: accumulated depreciation

    $3,506

  • 10c · Land, buildings and equipment, net

    beginning of year $1,812 · end of year $2,449

  • 17 · Accounts payable and accrued expenses

    beginning of year $73,639 · end of year $162,736

  • 27 · Net assets without donor restrictions

    beginning of year $3,952,273 · end of year $625,983

  • 28 · Net assets with donor restrictions

    end of year $4,421,014

Mission and programs · 2023

Mission

MOBILIZE A DIVERSE COMMUNITY OF PROBLEM-SOLVERS WORKING TOGETHER TO TACKLE THE MOST PRESSING CHALLENGES FACING THE OCEAN.

Activities or mission (Part I)

DEVELOP INNOVATIVE AND DURABLE SOLUTIONS TO COMPLEX CHALLENGES FACING OUR OCEAN.

  • OCEAN VISIONS IS A SCIENCE-BASED CONSERVATION ORGANIZATION FOCUSED ON DEVELOPING AND ADVANCING SOLUTIONS TO THE INTERLOCKING OCEAN AND CLIMATE CRISES. OUR APPROACH IS BASED ON THE SUBSTANTIAL BODY OF SCIENCE WHICH INDICATES WE MUST DIRECTLY ADDRESS CLIMATE IMPACTS TO THE OCEAN, VIA A COMPREHENSIVE APPROACH. OUR PROGRAM HAS FOUR PILLARS:1. REDUCE: DEVELOPING OCEAN-BASED PATHWAYS TO QUICKLY AND DRAMATICALLY REDUCE CO2 EMISSIONS VIA LOW-CARBON ALTERNATIVES TO KEY GOODS AND SERVICES NEEDED BY HUMANITY. 2. REMOVE: DEVELOPING OCEAN-BASED PATHWAYS FOR THE MASSIVE CLEAN-UP OF LEGACY CO2 EMISSIONS NEEDED TO REBALANCE THE EARTH SYSTEM. 3. REPAIR: DEVELOPING TOOLS TO AVOID CLIMATE TIPPING POINTS IN THE OCEAN AND THE CRYOSPHERE. 4. REACH: MOBILIZING A MUCH WIDER RANGE OF PEOPLE, COUNTRIES, DISCIPLINES AND SECTORS IN THE RACE TO DEVELOP INNOVATIONS AND FRAMEWORKS TO ADVANCE THE FIRST 3 OF THESE PILLARS.

    Expenses $2,243,005 · Grants $295,000

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

Listed in Part VII

  • Paul Bunje

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Emanuele Di Lorenzo

    BOARD CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Nancy Kowlton

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Fiorenza Micheli

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Julie Pullen

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Brad Ack

    CEO

    Total calculated
    $267,531
    From this org
    $257,431
    From related orgs
    $0
    Other
    $10,100
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $257,431
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $10,100
    Filer's total
    $267,531

  • Lisa Oosterom

    DIRECTOR OF FINANCE & ADMIN (FROM MAR 2023)

    Total calculated
    $70,234
    From this org
    $69,825
    From related orgs
    $0
    Other
    $409
    Hours/week
    40

  • David Koweek

    CHIEF SCIENTIST

    Total calculated
    $136,149
    From this org
    $135,460
    From related orgs
    $0
    Other
    $689
    Hours/week
    40

  • Nikhil Neelakantan

    SR PROGRAM OFFICER

    Total calculated
    $119,550
    From this org
    $118,928
    From related orgs
    $0
    Other
    $622
    Hours/week
    40

  • Jessica Keith

    SR COMMUNICATIONS DIR( FROM MAR 2023)

    Total calculated
    $112,491
    From this org
    $111,901
    From related orgs
    $0
    Other
    $590
    Hours/week
    40

  • Courtney McGeachy

    PROGRAM DIRECTOR

    Total calculated
    $153,160
    From this org
    $143,726
    From related orgs
    $0
    Other
    $9,434
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $143,726
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $9,434
    Filer's total
    $153,160

  • Leonardo Valenzuela Perez

    PROGRAM DIRECTOR

    Total calculated
    $120,345
    From this org
    $111,377
    From related orgs
    $0
    Other
    $8,968
    Hours/week
    40

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

  • 3 · Approval by the board or compensation committee

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 October 2024
IRS schema version
2023v5.1
Source object
202432909349301543

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