Greenwave Organization Corp
- Assets
- $6.4m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 18
- Location
- New Haven, CT
- Founding
- 07/2016
- Data as of
- 06/2022
- EIN
- 47-5438012
Organization Overview
Greenwave Organization Corp is located in New Haven, CT. The organization was established in 2016. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 06/2022, Greenwave Organization Corp employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenwave Organization Corp 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 06/2022, Greenwave Organization Corp generated $6.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 48.6% each year . All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 36.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT AND IMPLEMENTATION OF EDUCATION PROGRAMS IN THE FIELDS OF OCEAN RESTORATION, OCEAN FARMING, CLIMATE CHANGE, AND SUSTAINABLE FOOD SOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GREENWAVE WORKS TO REPLICATE AND SCALE REGENERATIVE OCEAN FARMING IN COASTAL COMMUNITIES TO CREATE A BLUE ECONOMY BUILT AND LED BY OCEAN FARMERS THAT ENSURES WE ALL MAKE A LIVING ON A LIVING PLANET. GREENWAVE WORKS WITH FARMERS TO IDENTIFY BARRIERS TO GROWTH, DEVELOP SOLUTIONS, AND SHARE BEST PRACTICES THROUGH FOUR PROGRAM AREAS: TRAINING, CLIMATE SUBSIDIES, AND MARKET AND INFRASTRUCTURE DEVELOPMENT. TO DATE, GREENWAVE HAS TRAINED AND SUPPORTED OVER 3800 FARMERS, ENTREPRENEURS, HATCHERY TECHNICIANS, AND OTHERS ACROSS THE US AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Karen Simons Chair And Treasurer | OfficerTrustee | 0.5 | $0 |
Curt Ellis Director | Trustee | 0.5 | $0 |
Lisa Holmes Secretary | OfficerTrustee | 0.5 | $0 |
Dune Lankard Director | Trustee | 0.5 | $0 |
Ayana Johnson Director | Trustee | 0.5 | $0 |
Morgan Dixon Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goodfolk Inc Website And Technology | 6/29/22 | $465,500 |
Sam Garwin Consulting Llc Kelp Market Innovation | 6/29/22 | $128,548 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $142,956 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,962,930 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,105,886 |
| Total Program Service Revenue | $93,439 |
| Investment income | $5,514 |
| 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 | $6,204,839 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $143,326 |
| Grants and other assistance to domestic individuals. | $17,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $276,865 |
| Compensation of current officers, directors, key employees. | $47,506 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $933,164 |
| Pension plan accruals and contributions | $49,310 |
| Other employee benefits | $108,295 |
| Payroll taxes | $90,058 |
| Fees for services: Management | $23,032 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,978 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $578,851 |
| Advertising and promotion | $704 |
| Office expenses | $17,244 |
| Information technology | $65,091 |
| Royalties | $0 |
| Occupancy | $81,365 |
| Travel | $77,426 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,262 |
| Insurance | $31,968 |
| All other expenses | $206,275 |
| Total functional expenses | $2,763,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $386,963 |
| Savings and temporary cash investments | $5,198,489 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,155 |
| 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 | $37,203 |
| Net Land, buildings, and equipment | $117,148 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $577,875 |
| Other assets | $7,200 |
| Total assets | $6,369,033 |
| Accounts payable and accrued expenses | $142,663 |
| 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 | $0 |
| Total liabilities | $142,663 |
| Net assets without donor restrictions | $5,870,916 |
| Net assets with donor restrictions | $355,454 |
| 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 | $6,369,033 |
Grants Awarded
Over the last fiscal year, Greenwave Organization Corp has awarded $135,776 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
THE NATIVE CONSERVANCY PURPOSE: TO SUPPORT ACTIVITIES RELATED TO REGENERATIVE OCEAN FARMING IN NATIVE COMMUNITIES IN ALASKA | $70,856 |
SUMMIT POINT LLC PURPOSE: DIRECT PAYMENT TO OCEAN FARMER IN RECOGNITION OF A BUNDLE OF CLIMATE IMPACTS THAT INCLUDE CARBON AND NITROGEN REMOVAL, REEF RESTORATION, AND GREEN JOBS | $14,920 |
ALASKA OCEAN FARMS PURPOSE: DIRECT PAYMENT TO OCEAN FARMER IN RECOGNITION OF A BUNDLE OF CLIMATE IMPACTS THAT INCLUDE CARBON AND NITROGEN REMOVAL, REEF RESTORATION, AND GREEN JOBS | $25,000 |
SEAGROVE KELP CO PURPOSE: DIRECT PAYMENT TO OCEAN FARMER IN RECOGNITION OF A BUNDLE OF CLIMATE IMPACTS THAT INCLUDE CARBON AND NITROGEN REMOVAL, REEF RESTORATION, AND GREEN JOBS | $25,000 |