Oceans Initiative

Analysis

Oceans Initiative is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in April 2016, 10 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 2022, Oceans Initiative reported income of $1.2m and spending of $1.0m, spending 86% of its income. Across the 4 years on record, from December 2019 to December 2022, income grew from $429k to $1.2m (+174%), an average of +40% a year. The sharpest change came in the year to December 2020, when income rose by 55%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Oceans Initiative sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 81st percentile within WA. Charities of a similar size with the same main cause include Better Life Television Inc ($1.2m), Economic Fundamentals Initiative Inc ($1.2m) and Tampa Bay History Center Foundation ($1.2m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 99% of the total. Compensation of current officers, directors and key employees was $326k (32% of expenses). At year end it held assets of $341k against liabilities of $73k, net assets of $268k. It reported 2 employees.