Plastic Ocean Project INC EIN 46-1251038

Plastic Ocean Project INC

EIN  46-1251038 Public charity (501(c)(3)) Wilmington, NC
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Size
$100K–1M
What they do
Develops science-based solutions and empowers people to reduce global plastic pollution for better health.
Leadership
Emily Mulvihill · Executive Director Assistant · $36K
Money in and out
$238K revenue, $219K expenses
Bottom line
49% program efficiency

Develops science-based solutions and empowers people to reduce global plastic pollution for better health. For fiscal year 2024 it reported $238K in revenue, $219K in expenses, and $148K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$238K
Pt VIII · Ln 12
Total expenses
$219K
Pt IX · Ln 25
Net assets
$148K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $19K
Where spending went · Part IX cols B–D
Program services $0.49 Management & general $0.39 Fundraising $0.12
Program efficiency
49%
of spending reaches programs▼ -7% vs prior filing year
Operating runway
8.3mo
months of highly liquid reserves at operating expense rate▲ +20% vs prior filing year
Surplus margin
+8%
revenue over expenses, this year▼ -2% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$238K
FY2024▼ -12%
Expenses
$219K
FY2024▼ -12%
Total assets
$191K
FY2024▼ -2%
Total liabilities
$43K
FY2024▼ -36%
Total revenue
$238K
Pt VIII · Ln 12
Total expenses
$219K
Pt IX · Ln 25
Net assets
$148K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$19K
Total assetsPt X · Ln 16$191K
Program-expense ratioPt IX · col B49%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 49
Mission & Programs · Part III

Where the work happens

4 program services account for $150K of program spending, described in the organization's own filed words · FY2024.
01

Outreach to reduce waste, presenting seminars, and going to schools to educate children on plastic and the need to reduce plastic waste.

$37Kprogram expense
02

Outreach to reduce waste, presenting seminars, and going to schools to educate children on plastic and the need to reduce plastic waste.

$37Kprogram expense
03

Education through research, conducting research on marine plastics and potential solutions.

$37Kprogram expense
04

Education through research, conducting research on marine plastics and potential solutions.

$37Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPlastic Ocean Project INC
EINHdr · item D46-1251038
Principal addressHdr · item CWilmington, NC
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFScience & Technology (U05)
Ruling yearIRS BMFJan 2014

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a9
Independent voting membersPt VI · Ln 1b9
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Executive Director Assistant
$36,403Pt VII · Sec A
Lab Director
$27,495Pt VII · Sec A
Executive Director
$7,666Pt VII · Sec A
Former - Executive Director
$7,666Pt VII · Sec A
Communications Director
$6,364Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A

Emily Mulvihill’s $36K as Executive Director Assistant is at the 23rd percentile of top reported officer pay among 310 $100K–1M science & technology 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 · 5 named individuals · Part VII

NameFY2024FY2023FY2022
Emily Mulvihill$36,403
Kayla West$27,495
Bonnie Monteleone$7,666$19,241$18,080
Tricia Monteleone$7,666
Lisa Andree$6,364

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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Statement of Revenue

Part VIII
Contributions & grants$235K · 99%
Investment income$3K · 1%
Contributions & grants99%$235K
Investment income1%$3K
Total revenueLn 12$238K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.49 Management & general $0.39 Fundraising $0.12
Program services49%$107K
Management & general39%$85K
Fundraising12%$26K
Total functional expensesLn 25$219K

Balance Sheet

Part X · end of year
CashLn 1$152K
Total assetsLn 16$191K
Total liabilitiesLn 26$43K
Total net assetsLn 32$148K
Months of cash on handcomputed8.3

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $152K · Operating expenses/yr $219K
8.3 months
Where the money goes
Program services
Program services $107K · Total expenses $219K
49%
Management & General
Management & general $85K · Total expenses $219K
39%
Fundraising
Fundraising $26K · Total expenses $219K
12%
Cost to raise $1
Fundraising expense (2-yr avg) $27K · Solicited contributions (2-yr avg) $252K
$0.11 to raise $1 (2-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $235K · Total revenue $238K
99%
Government reliance
Government grants — · Total revenue $238K
Earned-income share
Program service revenue $0 · Total revenue $238K
0%
Investment reliance
Investment income $3K · Total revenue $238K
+1%
Program self-sufficiency
Program service revenue $0 · Total expenses $219K
0%
Growth & trend
Revenue growth (YoY)
This year $238K · Prior year $271K
-12%
Net-asset trend (YoY)
End of year $148K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $238K · Expenses $219K
+8%
Liabilities-to-Assets
Total liabilities — · Total assets $191K
Net-asset ratio
Net assets $148K · Total assets $191K
78%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $191K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Emily Mulvihill · Reported title Executive Director Assistant · Highest reported compensation $36K · Total expenses $219K
17%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $90K · Total expenses $219K
41%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 49%
Overhead ratio 39%
Fundraising cost ratio 11%
Revenue growth -12%
Accounting fee ratio 1%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 6 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$238K revenue · viewing · ⤓ 990 PDF
FY2023$271K revenue · ⤓ 990 PDF
FY2022$196K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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