Ocean Exchange Inc

Nonprofit profile at a glance

EIN
272691376
IRS 990 coverage
2011–2025
Forms available
Form 990 2025
Location
Savannah, GA, USA
Phone
9126604696
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$745,244
Expenses
$253,734
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

14 people listed

Executive titles in this filing

  • MILLICENT PITTS (CEO/EXECUTIVE DIRECT)

Highest reported compensation

  • MILLICENT PITTS (CEO/EXECUTIVE DIRECT): $62,500 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To help accelerate the adoption of innovative solutions from start up companies, all in support of healthy oceans, resilient coastlines, and sustainable shipping.

What it reported doing in 2025

The annual exchange event showcases ten solutions, generated from an annual global call for solutions, highlighting different perspectives and approaches. Each year, individuals and organizations from diverse fields with expertise managing global issues meet in savannah, Georgia. The world-class solutions are presented on the focus selected for the current year. The navigator award is awarded to the best solution presented. Attendees work for twelve months to advance the adoption of the ten solutions around the globe. The advisory board of governors of the organization selects the recipient of the award according to strict criteria in the areas of feasibility, impact, readiness for execution, and environmental friendliness.

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.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 51
  • Transparency & Controls: 86
  • Accountability: 74
  • Sustainability: 46
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 33.1%; rating input score 33
  • Program expense ratio: 97.1%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 15th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 66%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 24.6%; rating input score 11; 11th percentile among comparable filings

Growth

  • Program expense growth: 2.1% per year; rating input score 100; 23rd percentile among comparable filings
  • Revenue growth: 4.7% per year; rating input score 100; 36th percentile among comparable filings
  • Asset growth: -1.3% per year; rating input score 0; 12th percentile among comparable filings

Details

  • Where the money goes: 33.1% of revenue deployed · 97.1% of spending went to programs
  • Governance: 13 of 13 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $246K in reported program spending
  • Leadership: top reported pay $62K · 14 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 14 filing years from 2011 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 33/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Officer compensation ratio scored 11/100.