Ocean Visions Inc
- Assets
- $2.4m
- Revenue
- $2.3m
- Investments
- $0.0
- Employees
- 3
- Location
- Leesburg, VA
- Founding
- Data as of
- 12/2021
- EIN
- 84-2130219
Organization Overview
Ocean Visions Inc is located in Leesburg, VA. 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 12/2021, Ocean Visions Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocean Visions Inc 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, Ocean Visions Inc generated $2.3m in total revenue. All expenses for the organization totaled $413.5k during the year ending 12/2021. While expenses have increased by 32.7% per year over the past 3 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
MOBILIZE A DIVERSE COMMUNITY OF PROBLEM-SOLVERS WORKING TOGETHER TO TACKLE THE MOST PRESSING CHALLENGES FACING THE OCEAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OCEAN-BASED CARBON DIOXIDE REMOVAL - THE MOST DANGEROUS THREAT TO OUR GLOBAL OCEAN IS THE EXCESS OF CO2 AND OTHER GREENHOUSE GAS POLLUTION. THIS DISRUPTION MANIFESTS IN THREE INTERCONNECTED DRIVERS OF CHANGE: SUPER-HEATING, DEOXYGENATION, AND ACIDIFICATION. TOGETHER, THESE POSE AN EXISTENTIAL THREAT TO OUR OCEAN AND ALL LIFE THAT DEPENDS ON IT. REVERSING CLIMATE DISRUPTION IS THE ONLY DURABLE PATH TO REVERSING THE OCEAN CRISIS. IN ORDER TO DO THAT, WE MUST STOP INCREASING AND ULTIMATELY BEGIN DECREASING LEVELS OF CO2 IN THE ATMOSPHERE AND THE UPPER LAYER OF THE OCEAN. OCEAN VISIONS IS LEADING CUTTING-EDGE RESEARCH AND DEVELOPMENT EFFORTS AROUND METHODS TO REMOVE CO2 FROM THE AIR AND SEA USING TECHNOLOGIES THAT BUILD UPON EXISTING BIOLOGICAL AND GEOLOGICAL PROCESSES IN THE OCEAN.
GRANTHAM TRUST PARTNERSHIP - IN THIS PROGRAM AREA, OCEAN VISIONS WORKS TO IDENTIFY AND SUPPORT DEVELOPMENT, TESTING AND IMPROVEMENT OF TECHNOLOGIES THAT BUILD UPON THE POWER OF THE OCEAN TO REMOVE AND STORE CARBON SAFELY AND OVER CENTURIES-TO-MILLENNIA.
OCEAN VISIONS SUMMIT - CONVENE AND HOST A BIENNIAL SUMMIT OF OCEAN SCIENTISTS, RESEARCHERS, ENTREPRENEURS, MARINE MANAGERS AND OTHERS INTERESTED IN DEVELOPING SOLUTIONS TO THE BIGGEST CHALLENGES IN THE OCEAN.
GENERAL PROGRAMS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brad Ack Executive Director And Chief Innovation Officer | Officer | 40 | $189,653 |
Emanuele Di Lorenzo Board Chair | OfficerTrustee | 3 | $0 |
Nancy Knowlton Secretary | OfficerTrustee | 1 | $0 |
Martin Gray Treasurer | OfficerTrustee | 1 | $0 |
Joseph Handy Board Member | Trustee | 1 | $0 |
Fiorenza Micheli Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $25,000 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,262,450 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,287,450 |
| Total Program Service Revenue | $0 |
| Investment income | $3,654 |
| 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 | $2,291,104 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $207,985 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,784 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $7,184 |
| Payroll taxes | $11,553 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $30,000 |
| Fees for services: Accounting | $6,425 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $109,447 |
| Advertising and promotion | $966 |
| Office expenses | $4,029 |
| Information technology | $2,744 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $12,747 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $175 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $427 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $413,491 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $91,534 |
| Savings and temporary cash investments | $2,311,115 |
| 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 | $3,030 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,405,679 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $2,405,679 |
| 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 | $2,405,679 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Ocean Visions Inc has recieved totaling $1,962,500.
| Awarding Organization | Amount |
|---|---|
Jeremy And Hannelore Grantham Environmental Trust Boston, MA PURPOSE: GRANTS TO PROTECT THE ENVIRONMENT | $1,650,000 |
Climateworks Foundation San Francisco, CA PURPOSE: PROJECT SUPPORT | $312,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Consortium For Ocean Leadership Inc Washington, DC | $4,687,674 | $4,673,668 |
Marine Technology Society Inc Washington, DC | $7,132,686 | $1,889,360 |
Marine Science Consortium Inc Wallops Island, VA | $12,768,305 | $1,791,311 |
The Washington Dc Area Marine Aquarist Society Reston, VA | $128,850 | $281,664 |
Responsible Offshore Science Alliance Washington, DC | $629,297 | $295,000 |
Ocean Visions Inc Leesburg, VA | $2,405,679 | $2,291,104 |
Molluscan Science Foundation Inc Owings Mills, MD | $17,270,125 | $2,816,927 |
Crustacean Society Herndon, VA | $915,214 | $104,058 |
Diving With A Purpose And Development Group Inc Nashville, TN | $235,616 | $239,504 |
Foundation For Underwater Research And Education Inc Haymarket, VA | $66,529 | $0 |
Ipac Marine Environmental Research Corporation Melfa, VA | $47,772 | $0 |
Center For Research On The Changing Earth System Clarksville, MD | $8,563 | $0 |