Plastic Ocean Project Inc

Analysis

Plastic Ocean Project Inc is a registered charity in United States, based in Wilmington, NC. It received its IRS tax-exemption ruling in January 2014, 12 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Plastic Ocean Project Inc reported income of $271k and spending of $248k, spending 92% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $196k to $271k (+38%), an average of +38% a year. The sharpest change came in the year to December 2023, when income rose by 38%. Over the whole period it spent 95% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Plastic Ocean Project Inc sits at the 66th percentile: it is larger than about 66% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 58th percentile within NC. Charities of a similar size with the same main cause include Pacific Coast Air Museum ($271k), Jro Community Outreach Inc ($271k) and Dawsonville History Museum Inc ($271k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Other salaries and wages came to $87k. At year end it held assets of $195k against liabilities of $66k, net assets of $129k. It reported 5 employees.