Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in May 2011.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
99 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
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Who runs it and what they're paid
12 people listed on the 990.
Millicent Pitts’s $62K as CEO/Executive Direct is at the 43rd percentile of top reported officer pay among 1989 $100K–1M environment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 1 named individual · Part VII
| Name | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Millicent Pitts | $62,500 | $100,000 | $62,500 | $75,000 | $75,000 |
Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.
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Questions the 990 asks
The form asks each of these directly. These are the filed answers.
- Family or business ties among officersPt VI · Ln 2No
- Top official's pay set by an independent reviewPt VI · Ln 15aYes
Programs and updates
Accelerates adoption of startup innovations for healthy oceans, resilient coastlines, and sustainable shipping.
Questions for Ocean Exchange INC
Your first name shows with your question. Ocean Exchange INC answers here, for everyone.
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Organization provided monthly webcasts on the blue economy and participated in the noaa sub-committee on the blue economy.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2020 990, line by line.
Download 990
| Line | Start FY20 | End FY20 |
|---|---|---|
| Cash and savingsLn 1–2 | $63K | $106K |
| Total assetsLn 16 | $63K | $106K |
| LiabilitiesLn 26 | $49K | $3K |
| Net assetsLn 32 | $15K | $103K |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $210K | $210K | ||
| Other salaries and wagesLn 7 | $15K | $14K | $756 | |
| Payroll taxesLn 10 | $5K | $5K | $266 | |
| Accounting feesLn 11c | $700 | $700 | ||
| Other fees for servicesLn 11g | $2K | $2K | ||
| TravelLn 17 | $3K | $3K | ||
| InsuranceLn 23 | $3K | $3K | ||
| Other expenses (24a–d)Ln 24 | $7K | $7K | $364 | |
| Total functional expensesLn 25 | $247K | $245K | $2K | $0 |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 Latest | $745K | $254K | $492K | $0 | 990 PDF |
| FY2024 | $961K | $890K | $71K | $88K | 990 PDF |
| FY2023 | $832K | $883K | −$50K | $17K | 990 PDF |
| FY2022 | $812K | $868K | −$56K | $67K | 990 PDF |
| FY2021 | $482K | $462K | $19K | $123K | 990 PDF |
| FY2020 Viewing | $336K | $247K | $89K | $103K | 990 PDF |
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Schedules filed Part IV
See the full FY2020 990 (6 parts)
Part I · Summary $335,500 revenue, 12 lines filed
Part VI · Governance 11 of 11 board members independent, 3 to look at
Part VIII · Statement of revenue $335,500 across 4 lines filed
Part IX · Statement of functional expenses $246,704 across 8 lines filed
Part X · Balance sheet $106,424 assets, 7 lines filed
Part XI · Reconciliation of net assets $103,357 net assets at year end
Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File
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