American Friends Of The Ocean Cleanup Foundation
- Assets
- $20.7m
- Revenue
- $19.7m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 11/2017
- Data as of
- 12/2023
- EIN
- 81-5132355
Organization Overview
American Friends Of The Ocean Cleanup Foundation is located in New York, NY. The organization was established in 2017. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Friends Of The Ocean Cleanup Foundation 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, American Friends Of The Ocean Cleanup Foundation generated $19.7m in total revenue. All expenses for the organization totaled $30.6m during the year ending 12/2023. While expenses have increased by 180.0% per year over the past 7 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PRESERVE AND PROTECT THE NATURAL OCEAN ENVIRONMENT FOR THE BENEFIT OF THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AMERICAN FRIENDS OF THE OCEAN CLEANUP, FOUNDATION ("THE FOUNDATION") IS RESPONSIBLE FOR SOLICITING DONATIONS IN THE U.S, PRIMARILY TO SUPPORT CLEAN UP INITIATIVES IN OCEANS, RIVERS, AND OTHER BODIES OF WATER AROUND THE WORLD. THESE DONATIONS ARE REVIEWED BY AN INDEPENDENT BOARD, AND CERTAIN GRANTS ARE APPROVED TO BE MADE TO THE RELATED DUTCH ORGANIZATION, STICHTING THE OCEAN CLEANUP ("STICHTING"), TO BE USED IN SUPPORT OF THEIR MISSION, WHICH IS ALIGNED WITH THE FOUNDATION'S MISSION OF PROTECTING THE OCEANS, THROUGHOUT THE WORLD. THE FOUNDATION HAS FULL CONTROL AND DISCRETION OVER THE DONATED FUNDS IT RECEIVES AND MAINTAINS PROPER INTERNAL CONTROLS AND PROCESSES FOR THE APPROVAL OF GRANTS TO STICHTING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Boyan Damir Slat President | OfficerTrustee | 1 | $0 |
Joy Gao Treasurer | OfficerTrustee | 1 | $0 |
Carl Mr Van Der Zandt Secretary | OfficerTrustee | 1 | $0 |
Robert C Parker Director | Trustee | 1 | $0 |
Peter Schwartz Director (from 07/23) | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Undp Dominican Republic Project Management/consulting | 12/30/22 | $350,633 |
Whirled Interactive Social Media/community Management | 12/30/22 | $137,630 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $19,290,786 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,290,786 |
| Total Program Service Revenue | $0 |
| Investment income | $457,112 |
| 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 | $19,747,898 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $30,195,939 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $28,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $327,231 |
| Advertising and promotion | $0 |
| Office expenses | $46,353 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $19,711 |
| All other expenses | $1,871 |
| Total functional expenses | $30,619,405 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,340,393 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $316,677 |
| 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 | $16,308 |
| 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 | $20,673,378 |
| Accounts payable and accrued expenses | $67,449 |
| Grants payable | $0 |
| Deferred revenue | $11,804,024 |
| 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 | $11,871,473 |
| Net assets without donor restrictions | $8,652,662 |
| Net assets with donor restrictions | $149,243 |
| 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 | $20,673,378 |