Savannah Ocean Exchange
- Assets
- $125.9k
- Revenue
- $481.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Savannah, GA
- Founding
- 05/2011
- Data as of
- 12/2021
- EIN
- 27-2691376
Organization Overview
Savannah Ocean Exchange is located in Savannah, GA. The organization was established in 2011. According to its NTEE Classification (C12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Environment and related organizations. As of 12/2021, Savannah Ocean Exchange employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Savannah Ocean Exchange is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Savannah Ocean Exchange generated $481.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $462.3k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Savannah Ocean Exchange has awarded 12 individual grants totaling $740,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO HELP ACCELERATE THE ADOPTION OF INNOVATIVE SOLUTIONS FROM START UP COMPANIES, ALL IN SUPPORT OF HEALTHY OCEANS, RESILIENT COASTLINES, AND SUSTAINABLE SHIPPING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ANNUAL EXCHANGE EVENT SHOWCASES TEN SOLUTIONS, GENERATED FROM AN ANNUAL GLOBAL CALL FOR SOLUTIONS, HIGHLIGHTING DIFFERENT PERSPECTIVES AND APPROACHES. EACH YEAR, INDIVIDUALS AND ORGANIZATIONS FROM DIVERSE FIELDS WITH EXPERTISE MANAGING GLOBAL ISSUES MEET IN SAVANNAH, GEORGIA. THE WORLD-CLASS SOLUTIONS ARE PRESENTED ON THE FOCUS SELECTED FOR THE CURRENT YEAR. THE NAVIGATOR AWARD IS AWARDED TO THE BEST SOLUTION PRESENTED. ATTENDEES WORK FOR TWELVE MONTHS TO ADVANCE THE ADOPTION OF THE TEN SOLUTIONS AROUND THE GLOBE. THE ADVISORY BOARD OF GOVERNORS OF THE ORGANIZATION SELECTS THE RECIPIENT OF THE AWARD ACCORDING TO STRICT CRITERIA IN THE AREAS OF FEASIBILITY, IMPACT, READINESS FOR EXECUTION, AND ENVIRONMENTAL FRIENDLINESS.
THE ANNUAL EXCHANGE EVENT SHOWCASES TEN SOLUTIONS, GENERATED FROM AN ANNUAL GLOBAL CALL FOR SOLUTIONS, HIGHLIGHTING DIFFERENT PERSPECTIVES AND APPROACHES. EACH YEAR, INDIVIDUALS AND ORGANIZATIONS FROM DIVERSE FIELDS WITH EXPERTISE MANAGING GLOBAL ISSUES MEET IN SAVANNAH, GEORGIA. THE WORLD-CLASS SOLUTIONS ARE PRESENTED ON THE FOCUS SELECTED FOR THE CURRENT YEAR. THE NAVIGATOR AWARD IS AWARDED TO THE BEST SOLUTION PRESENTED. ATTENDEES WORK FOR TWELVE MONTHS TO ADVANCE THE ADOPTION OF THE TEN SOLUTIONS AROUND THE GLOBE. THE ADVISORY BOARD OF GOVERNORS OF THE ORGANIZATION SELECTS THE RECIPIENT OF THE AWARD ACCORDING TO STRICT CRITERIA IN THE AREAS OF FEASIBILITY, IMPACT, READINESS FOR EXECUTION, AND ENVIRONMENTAL FRIENDLINESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Millicent Pitts Ceo/executiv | Officer | 40 | $75,000 |
William Brennan Chairman | OfficerTrustee | 1 | $0 |
Patrik Dahlgren Director | Trustee | 1 | $0 |
Charles Hinnant Director | Trustee | 1 | $0 |
Cathy J Sakas Director | Trustee | 1 | $0 |
Irene Reynolds Schier Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $22,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $450,690 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $473,390 |
| Total Program Service Revenue | $7,821 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $481,774 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $120,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $25,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $75,000 |
| Compensation of current officers, directors, key employees. | $3,750 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $30,162 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,360 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,164 |
| Fees for services: Accounting | $2,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,855 |
| Advertising and promotion | $0 |
| Office expenses | $2,855 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $40,497 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $99,621 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,058 |
| All other expenses | $6,103 |
| Total functional expenses | $462,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,873 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $125,873 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,067 |
| Total liabilities | $3,067 |
| Net assets without donor restrictions | $122,806 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $125,873 |
Grants Awarded
Over the last fiscal year, Savannah Ocean Exchange has awarded $120,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
ELEMENT RESOURCES PURPOSE: OCEAN CONSERVATION | $100,000 |
OCEAN RESCUE ALLIANCE PURPOSE: OCEAN CONSERVATION | $10,000 |
E-WAVE PURPOSE: OCEAN CONSERVATION | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Savannah Ocean Exchange has recieved totaling $31,000.
| Awarding Organization | Amount |
|---|---|
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $20,000 |
Organization Name not Listed PURPOSE: COLLEGIATE INNOVATION AWARD | | $11,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Live-Thrive Atlanta Inc Atlanta, GA | $1,073,818 | $1,229,888 |
Seaworld & Busch Gardens Conservation Fund Orlando, FL | $1,323,496 | $1,265,856 |
Forest Workforce Training Institute Montgomery, AL | $491,747 | $815,926 |
Savannah Ocean Exchange Savannah, GA | $125,873 | $481,774 |
Invest Appalachia Inc Asheville, NC | $220,408 | $648,625 |
Keep Georgia Beautiful Foundation Atlanta, GA | $391,515 | $453,954 |
The Environmental Fund For Georgia Atlanta, GA | $91,246 | $349,249 |
Nathan Benderson Park Foundation Inc University Park, FL | $68,644 | $159,616 |
Englewood Beach Waterfest Englewood, FL | $158,515 | $369,523 |
Arctic Circle Foundation Inc Us Darien, GA | $272,319 | $450,000 |
Florida Coalition For Preservationinc Ocean Ridge, FL | $125,844 | $164,394 |
Hardwood Forest Foundation Inc Collierville, TN | $218,628 | $0 |