Altasea At The Port Of Los Angeles
- Assets
- $35.2m
- Revenue
- $15.2m
- Investments
- $0.0
- Employees
- 20
- Location
- San Pedro, CA
- Founding
- 05/2014
- Data as of
- 12/2023
- EIN
- 46-3977904
Organization Overview
Altasea At The Port Of Los Angeles is located in San Pedro, CA. The organization was established in 2014. According to its NTEE Classification (U21) the organization is classified as: Marine Science & Oceanography, under the broad grouping of Science & Technology and related organizations. As of 12/2023, Altasea At The Port Of Los Angeles employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Altasea At The Port Of Los Angeles 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 12/2023, Altasea At The Port Of Los Angeles generated $15.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 31.4% each year . All expenses for the organization totaled $4.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Altasea At The Port Of Los Angeles has awarded 18 individual grants totaling $963,508. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ALTASEA AT THE PORT OF LOS ANGELES IS DEDICATED TO ACCELERATING SCIENTIFIC COLLABORATION, ADVANCING AN EMERGING BLUE ECONOMY THROUGH BUSINESS INNOVATION AND JOB CREATION, AND INSPIRING THE NEXT GENERATION, ALL FOR A MORE SUSTAINABLE, JUST AND EQUITABLE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCIENCE: WE BRING THE WORLD'S FINEST MARINE SCIENTISTS AND ENGINEERS TOGETHER TO CONDUCT BREAKTHROUGH RESEARCH AND DISCOVER SOLUTIONS TO FOOD AND ENERGY SUPPLY, CLIMATE CHANGE, AND OCEAN EXPLORATION. TODAY MORE THAN 30 LEADING UNIVERSITIES ARE INVOLVED WITH ALTASEA INCLUDING THE UNIVERSITY OF CALIFORNIA, LOS ANGELES; UNIVERSITY OF SOUTHERN CALIFORNIA; SCRIPPS INSTITUTION OF OCEANOGRAPHY AT THE UNIVERSITY OF CALIFORNIA, SAN DIEGO; CAL TECH'S JET PROPULSION LABORATORY; AND THE UMBRELLA ORGANIZATION SOUTHERN CALIFORNIA MARINE INSTITUTE.
CAMPUS REDEVELOPMENT AND OTHER PROGRAM SERVICES: ALTASEA IS DEDICATED TO IGNITING ENGAGEMENT & EXCITEMENT IN PERSONS OF ALL AGES & BACKGROUNDS WITH PROGRAMS THAT COMMUNICATE ABOUT THE OCEAN AND ITS IMPORTANCE TO OUR LIVES.
BUSINESS: ALTASEA NURTURES NEW AND EXISTING COMMERCIAL OCEAN-RELATED PRODUCTS, SERVICES, AND JOBS THROUGH OUR BLUE SUSTAINABLE ECONOMY ALLIANCE (BLUESEA). AMONG OUR MORE THAN 40 ACTIVE BUSINESS LEADERS ARE ECOWAVE POWER, PACIFIC6, RCAM, BLUE ROBOTICS, AND HOLDFAST AQUAFARMS.
EDUCATION: ALTASEA IS PIONEERING PROGRAMS THAT IMMERSE CHILDREN AND ADULTS IN THE OCEAN'S CRITICAL ROLE FOR THE FUTURE OF OUR PLANET. IN ADDITION TO THE LOS ANGELES UNIFIED SCHOOL DISTRICT (INCLUDING INGLEWOOD AND LAWNDALE), 15+ COMMUNITY-BASED ORGANIZATIONS WORK WITH ALTASEA INCLUDING: BOYS AND GIRLS CLUBS OF THE LA HARBOR, SANTA MONICA COLLEGE, WILMINGTON'S STRENGTH BASED COMMUNITY CHANGE (SBCC), AND THE WATTS ENTREPRENEUR EDUCATION CENTER. ALTASEA OCEAN PATHWAYS PROGRAM (ASOP) IS THE ONLY PROGRAM OF ITS KIND IN CALIFORNIA THAT AIMS TO EXPAND FORMAL AND INFORMAL OCEAN STEM LEARNING FROM A YOUNG AGE TO DEVELOP A SKILLED WORKFORCE FOR THIS EMERGING SECTOR IN THE GLOBAL OCEAN ECONOMY. ALTASEA WORKS CLOSELY WITH 14+ COLLEGES THROUGH THEIR BLUE ECONOMY CLIMATE ACTION PATHWAYS PROGRAM TO DEVELOP WORKFORCE DEVELOPMENT CURRICULUMS TO ENSURE THEIR STUDENTS HAVE ACCESS TO THE NEW JOBS IN THESE SECTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terry Tamminen President/ceo | OfficerTrustee | 40 | $360,375 |
Doane Liu Director | Trustee | 1 | $0 |
Geraldine Knatz Chairman | Trustee | 1 | $0 |
Monique Johnson Treasurer | Trustee | 1 | $0 |
Martin H Blank Jr Director | Trustee | 1 | $0 |
Yehudi Gaffen Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gafcon Inc Capital Program Phase 1 Design | 12/30/20 | $162,526 |
222 W 6th St Llc Facilities Rental | 12/30/20 | $162,217 |
Kpff Consulting Engineers Capital Program Phase 1 Design | 12/30/20 | $114,572 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,575 |
| Fundraising events | $169,319 |
| Related organizations | $0 |
| Government grants | $8,933,062 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,084,919 |
| Noncash contributions included in lines 1a–1f | $18,472 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $14,194,875 |
| Total Program Service Revenue | $795,773 |
| Investment income | $32,196 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $151,824 |
| Net Gain/Loss on Asset Sales | $6,624 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,181,292 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $495,370 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $873,949 |
| Compensation of current officers, directors, key employees. | $263,650 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $755,651 |
| Pension plan accruals and contributions | $9,128 |
| Other employee benefits | $77,443 |
| Payroll taxes | $107,276 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $91,367 |
| Fees for services: Accounting | $45,400 |
| Fees for services: Lobbying | $89,973 |
| Fees for services: Fundraising | $223,415 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $545,836 |
| Advertising and promotion | $50,442 |
| Office expenses | $104,872 |
| Information technology | $42,556 |
| Royalties | $0 |
| Occupancy | $389,163 |
| Travel | $16,242 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $42,557 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $157,892 |
| Insurance | $110,382 |
| All other expenses | $15,718 |
| Total functional expenses | $4,499,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $950 |
| Savings and temporary cash investments | $3,261,895 |
| Pledges and grants receivable | $9,855,890 |
| Accounts receivable, net | $11,250 |
| 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 | $61,296 |
| Net Land, buildings, and equipment | $21,990,618 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $35,181,899 |
| Accounts payable and accrued expenses | $6,764,044 |
| Grants payable | $0 |
| Deferred revenue | $1,201,940 |
| 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 | $2,286,192 |
| Other liabilities | $28,534 |
| Total liabilities | $10,280,710 |
| Net assets without donor restrictions | $14,000,847 |
| Net assets with donor restrictions | $10,900,342 |
| 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 | $35,181,899 |
Grants Awarded
Over the last fiscal year, Altasea At The Port Of Los Angeles has awarded $490,879 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ALTASEADS CONSERVANCY PURPOSE: AIM TO DEVELOP, MAINTAIN AND CURATE SEED BANKS TO PROMOTE CONSOLIDATION OF RESOURCES AND KNOWLEDGE, ENABLE BREEDING IMPROVED NON-GMO KELP CROPS AND ESTABLISH CULTIVATION PRACTICES BY PREVENTING TRANSGENE FLOW TO NATURAL KELP BEDS.PROVIDE FISCAL SPONSORSHIP WHILE NOT-FOR-PROFIT ORGANIZATION WAS ESTABLISHING ITSELF. | $390,879 |
LOS ANGELES MARITIME INSTITUTE PURPOSE: PROMOTE ON THE WATER ACTIVITIES WITH STUDENTS IN CLASS FORMAT FOR THOSE WHO ARE UNFAMILIAR WITH THE OCEAN ECOSYSTEM.PROVIDE FISCAL SPONSORSHIP FOR COLLECTIVE TO OPERATE. | $100,000 |