Ocean Agency FY2022 filing

Tax-deductible

Newport, RI501(c)(3)EnvironmentEIN 84-3398911Revenue $295K in FY2022

On file with the IRStheoceanagency.org8 Eadie St, 02840-2204 · Newport, RITax-exempt since Apr 2020Publicly supported charity — 170(b)(1)(A)(vi)

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To accelerate ocean science and conservation.

501(c)(3) charity; gifts are tax-deductible.
80¢ of each $1 spent went to programs.
$222K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $29K a year · 10% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$222K
to officers and key staff · 53% of spending
Concern: pay to officers and key staff is 53% of spending; over 30%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 3.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$19K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$295K
-12% vs prior year
Spent
$415K
To programs
80%
Net assets
$136K
By yearFY2020–FY2025
Revenue
$295K
FY2022▼ -12%
Tap a bar for its year
Revenue by fiscal year
FY2020$555K
FY2021$334K
FY2022$295K
FY2023$174K
FY2024$210K
FY2025$122K
Expenses
$415K
FY2022▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$261K
FY2021$372K
FY2022$415K
FY2023Not on file
FY2024$238K
FY2025$83K
Net assets
$136K
FY2022▼ -47%
Tap a bar for its year
Net assets by fiscal year
FY2020$294K
FY2021$255K
FY2022$136K
FY2023$55K
FY2024$27K
FY2025$66K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $331K Management & general 16% · $66K Fundraising 4% · $18K

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

5 people listed on the 990; $222K paid to officers and key staff.

Part VII, Section A · reportable compensation
President, CEO & Director
$158,000Pt VII · Sec A
$63,750Pt VII · Sec A
Vice President, Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director, Secretary
$0Pt VII · Sec A

Stephanie Tate’s $36K as Senior Program Manager and Treasurer is at the 20th 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 · 2 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Richard Vevers Tate—$97,157$96,557$158,000$158,000$81,897
Stephanie Tate$36,328$55,785$63,750$63,750$54,896$26,917

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Accelerates ocean science and conservation efforts.

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Provided by the organization

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2 programs · $331K · in their own filed words · FY2022
01

Ocean Conservation and Protection Initiatives

Development of freely available ocean education tools, resources, curriculum- based programs, and public campaigns and events to raise awareness of the importance of the ocean and inspire support for ocean science and conservation (an official activity of the UN Ocean Decade in collaboration with the UN and other partners).

$273Kprogram expense
02

Raising Ocean Understanding and Awareness

Development of initiatives and communications to inspire public support for increased marinevprotection to help achieve 30% protection of the ocean by 2030. These efforts focus on coral reefs identified in our 50 Reefs project that are considered less vulnerable to climate change.

$58Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$295K
Ln 12
Gifts and grantsLn 1h$285K
Fees for servicesLn 2g$10K
Money outPt IX
$415K
Ln 25
Programscol B$331K
Managementcol C$66K
Fundraisingcol D$18K
Owns and owesPt X
$136K
net assets · Ln 32
Cash and savingsLn 1–2$123K
Total assetsLn 16$155K
LiabilitiesLn 26$19K
PeoplePt VI, VII
5
listed · VII A
PaidVII A2
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$285K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$10K
Total revenueLn 12$295K
Assets in detailPt X, end of year
CashLn 1$123K
Cash and savings togetherLn 1–2$123K
Other assetsLn 15$10K
Total assetsLn 16$155K
LiabilitiesLn 26$19K
Net assetsLn 32$136K
OperationsPt I, VI
EmployeesI 52
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$186K$123K
Total assetsLn 16$268K$155K
LiabilitiesLn 26$13K$19K
Net assetsLn 32$255K$136K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$158K$137K$8K$13K
Other salaries and wagesLn 7$64K$59K$5K$0
Other employee benefitsLn 9$30K$24K$3K$2K
Payroll taxesLn 10$17K$15K$975$948
Accounting feesLn 11c$12K$3K$9K$0
Other fees for servicesLn 11g$36K$33K$3K$0
Advertising and promotionLn 12$0
Office expensesLn 13$9K$2K$5K$1K
Information technologyLn 14$26K$10K$16K$0
OccupancyLn 16$6K$3K$2K$586
TravelLn 17$36K$36K$386$8
Conferences, conventions and meetingsLn 19$873$507$366
Depreciation, depletion and amortizationLn 22$12K$12K
InsuranceLn 23$678$678
All other expensesLn 24e$9K$9K$51
Total functional expensesLn 25$415K$331K$66K$18K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $122K$83K$39K$66K 990 PDF
FY2024 $210K$238K−$28K$27K 990 PDF
FY2023 $174K$55K 990 PDF
FY2022 Viewing $295K$415K−$119K$136K 990 PDF
FY2021 $334K$372K−$39K$255K 990 PDF
FY2020 $555K$261K$294K$294K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary $295,093 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $247,138$285,093
I-9 Program service revenuePrior year $86,500$10,000
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $55$0
I-12 Total revenuePrior year $333,693$295,093
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $261,037$268,277
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $111,175$146,268
I-18 Total expensesPrior year $372,212$414,545
I-19 Revenue less expensesPrior year −$38,519−$119,452
Part VI · Governance 3 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $295,093 across 10 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$285,093
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$285,093
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $10,000 · Unrelated business $0 · Excluded from tax $0$10,000
VIII-12 Total revenueRelated to mission $10,000 · Unrelated business $0 · Excluded from tax $0$295,093
Part IX · Statement of functional expenses $414,545 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $137,460 · Management $7,900 · Fundraising $12,640$158,000
IX-7 Other salaries and wagesPrograms $58,650 · Management $5,100 · Fundraising $0$63,750
IX-9 Other employee benefitsPrograms $24,143 · Management $3,376 · Fundraising $2,379$29,898
IX-10 Payroll taxesPrograms $14,706 · Management $975 · Fundraising $948$16,629
IX-11c Accounting feesPrograms $2,954 · Management $8,863 · Fundraising $0$11,817
IX-11g Other fees for servicesPrograms $32,602 · Management $3,352 · Fundraising $0$35,954
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $2,362 · Management $5,196 · Fundraising $1,057$8,615
IX-14 Information technologyPrograms $9,674 · Management $15,827 · Fundraising $0$25,501
IX-16 OccupancyPrograms $3,059 · Management $2,278 · Fundraising $586$5,923
IX-17 TravelPrograms $35,584 · Management $386 · Fundraising $8$35,978
IX-19 Conferences, conventions and meetingsPrograms $507 · Management $366$873
IX-22 Depreciation, depletion and amortizationManagement $11,667$11,667
IX-23 InsuranceManagement $678$678
IX-24e All other expensesPrograms $9,211 · Management $51$9,262
IX-25 Total functional expensesPrograms $330,912 · Management $66,015 · Fundraising $17,618$414,545
Part X · Balance sheet $155,253 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $186,350$123,069
X-4 Accounts receivableStart of year $57,000$10,000
X-9 Prepaid expenses and deferred chargesStart of year $1,628$1,033
X-14 Intangible assetsStart of year $23,195$11,528
X-15 Other assetsStart of year $0$9,623
X-16 Total assetsStart of year $268,173$155,253
X-17 Accounts payable and accrued expensesStart of year $12,854$9,763
X-25 Other liabilities$9,623
X-26 Total liabilitiesStart of year $12,854$19,386
X-27 Net assets without donor restrictionsStart of year $131,432$3,810
X-28 Net assets with donor restrictionsStart of year $123,887$132,057
X-32 Total net assets or fund balancesStart of year $255,319$135,867
X-33 Total liabilities and net assetsStart of year $268,173$155,253
Part XI · Reconciliation of net assets $135,867 net assets at year end
XI-1 Total revenue$295,093
XI-2 Total expenses$414,545
XI-3 Revenue less expenses−$119,452
XI-4 Net assets at start of year$255,319
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$135,867

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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