4Ocean Charitable Foundation Inc

Nonprofit profile at a glance

EIN
882694307
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-N 2023
Location
Boca Raton, FL, USA
Phone
5613868606
Rating
46
Verdict
MIXED
Rating confidence
Moderate
Sector
Natural Resources Conservation and Protection

Reported finances

Revenue
$1,601,140
Expenses
$253,889
Assets
$1,366,168
Liabilities
$19,217

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • ALEX SCHULZE (PRESIDENT & TREASURER)
  • JACK LIGHTON (EXECUTIVE DIRECTOR eff. 9/2024)

Highest reported compensation

  • JACK LIGHTON (EXECUTIVE DIRECTOR eff. 9/2024): $51,288 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

4ocean foundation is dedicated to ending plastic pollution by cleaning our ocean, rivers, and coastlines, tackling the growing threat of microplastics, and empowering communities through education and awareness. Our vision is clear, a world free from plastic pollution, where the ocean thrives and future generations inherit a healthier planet.

What it reported doing in 2024

In 2024, the foundation was in startup mode and we created two educational and engagement campaigns (1) fight for the ocean with a goal to educate and engage people to engage with the foundation's website and subject matter expertise. (2) in conjunction with giving season we created the i am the ocean campaign, an inspirational education video that inspired hundreds of people to sign up for our newsletter and visit our website for more information.

Operating model

Revenue model
Donor-supported. 100% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

MIXED - Most voting board members are independent and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 20
  • Transparency & Controls: 58
  • Accountability: 84
  • Sustainability: 81
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 4.1%; rating input score 4
  • Program expense ratio: 25.6%; rating input score 26
  • Fundraising efficiency: $96.08 raised per $1 spent on fundraising; rating input score 86; 86th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 84.1%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 5.38; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 66; 66th percentile among comparable filings
  • Officer compensation ratio: 20.2%; rating input score 15; 15th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 4.1% of revenue deployed · 25.6% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $172K in reported program spending
  • Leadership: top reported pay $51K · 4 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and foreign activity
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 4/100.
  • High — Financial Efficiency: Program expense ratio scored 26/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 15/100.