American Friends of the Ocean Cleanup Foundation

Analysis

American Friends of the Ocean Cleanup Foundation is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in November 2017, 9 years ago. 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, American Friends of the Ocean Cleanup Foundation reported income of $19.7m and spending of $30.6m, spending 155% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.8m to $19.7m (+238%), an average of +36% a year. The sharpest change came in the year to December 2022, when income rose by 330%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, American Friends of the Ocean Cleanup Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 96th percentile within NY. Charities of a similar size with the same main cause include Pierce Mortuary Colleges Inc ($19.7m), High Plains Food Bank ($19.8m) and Mercy Health Network Inc ($19.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. At year end it held assets of $20.7m against liabilities of $11.9m, net assets of $8.8m.