Ocean Visions Inc
- Assets
- $5.2m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 11
- Location
- Leesburg, VA
- Founding
- Data as of
- 12/2023
- 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 12/2023, Ocean Visions Inc employed 11 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 12/2023, Ocean Visions Inc generated $3.6m in total revenue. All expenses for the organization totaled $2.5m during the year ending 12/2023. While expenses have increased by 69.6% per year over the past 5 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
DEVELOP INNOVATIVE AND DURABLE SOLUTIONS TO COMPLEX CHALLENGES FACING OUR OCEAN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OCEAN VISIONS IS A SCIENCE-BASED CONSERVATION ORGANIZATION FOCUSED ON DEVELOPING AND ADVANCING SOLUTIONS TO THE INTERLOCKING OCEAN AND CLIMATE CRISES. OUR APPROACH IS BASED ON THE SUBSTANTIAL BODY OF SCIENCE WHICH INDICATES WE MUST DIRECTLY ADDRESS CLIMATE IMPACTS TO THE OCEAN, VIA A COMPREHENSIVE APPROACH. OUR PROGRAM HAS FOUR PILLARS:1. REDUCE: DEVELOPING OCEAN-BASED PATHWAYS TO QUICKLY AND DRAMATICALLY REDUCE CO2 EMISSIONS VIA LOW-CARBON ALTERNATIVES TO KEY GOODS AND SERVICES NEEDED BY HUMANITY. 2. REMOVE: DEVELOPING OCEAN-BASED PATHWAYS FOR THE MASSIVE CLEAN-UP OF LEGACY CO2 EMISSIONS NEEDED TO REBALANCE THE EARTH SYSTEM. 3. REPAIR: DEVELOPING TOOLS TO AVOID CLIMATE TIPPING POINTS IN THE OCEAN AND THE CRYOSPHERE. 4. REACH: MOBILIZING A MUCH WIDER RANGE OF PEOPLE, COUNTRIES, DISCIPLINES AND SECTORS IN THE RACE TO DEVELOP INNOVATIONS AND FRAMEWORKS TO ADVANCE THE FIRST 3 OF THESE PILLARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Bunje Board Member | Trustee | 1 | $0 |
Emanuele Di Lorenzo Board Chair | OfficerTrustee | 1 | $0 |
Nancy Kowlton Board Member | Trustee | 1 | $0 |
Fiorenza Micheli Board Member | Trustee | 1 | $0 |
Julie Pullen Treasurer | OfficerTrustee | 1 | $0 |
Brad Ack CEO | Officer | 40 | $257,431 |
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 | $3,404,286 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,404,286 |
| Total Program Service Revenue | $0 |
| Investment income | $166,469 |
| 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 | $3,574,949 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $65,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $230,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $337,765 |
| Compensation of current officers, directors, key employees. | $16,888 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $951,846 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $59,521 |
| Payroll taxes | $88,436 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,770 |
| Fees for services: Accounting | $74,206 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $366,040 |
| Advertising and promotion | $2,620 |
| Office expenses | $9,794 |
| Information technology | $11,210 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $173,833 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $76,420 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,665 |
| Insurance | $3,412 |
| All other expenses | $3,989 |
| Total functional expenses | $2,480,224 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $175,727 |
| Savings and temporary cash investments | $4,983,547 |
| Pledges and grants receivable | $10,000 |
| 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 | $38,010 |
| Net Land, buildings, and equipment | $2,449 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,209,733 |
| Accounts payable and accrued expenses | $162,736 |
| 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 | $162,736 |
| Net assets without donor restrictions | $625,983 |
| Net assets with donor restrictions | $4,421,014 |
| 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 | $5,209,733 |
Grants Awarded
Over the last fiscal year, Ocean Visions Inc has awarded $65,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TRUSTEES OF COLUMBIA UNIVERSITY IN THE CITY OF NEW YORK PURPOSE: TO CONDUCT POLICY RESEARCH AND PROVIDE RECOMMENDATIONS | $52,500 |
UC SAN DIEGO FOUNDATION PURPOSE: SUPPORT FOR THE DEVELOPMENT OF A BLUE ECONOMY ACCELERATOR | $12,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Marine Technology Society Inc Washington, DC | $7,350,561 | $2,309,568 |
Ocean Visions Inc Leesburg, VA | $5,209,733 | $3,574,949 |
Marine Science Consortium Inc Wallops Island, VA | $12,314,765 | $2,892,410 |
Association For The Sciences Of Limnology And Oceanography Inc Washington, DC | $6,174,176 | $997,871 |
American Saltwater Guides Association Inc Washington, DC | $876,169 | $874,805 |
The Washington Dc Area Marine Aquarist Society Reston, VA | $128,850 | $281,664 |
Responsible Offshore Science Alliance Washington, DC | $992,518 | $665,000 |
Molluscan Science Foundation Inc Owings Mills, MD | $21,588,776 | $2,383,369 |
Consortium For Ocean Leadership Inc Washington, DC | $0 | $0 |
Diving With A Purpose And Development Group Inc Nashville, TN | $327,459 | $299,061 |
Crustacean Society Herndon, VA | $756,707 | $112,627 |
Foundation For Underwater Research And Education Inc Arlington, VA | $49,111 | $0 |
Ipac Marine Environmental Research Corporation Melfa, VA | $47,772 | $0 |
Center For Research On The Changing Earth System Clarksville, MD | $588 | $0 |