Ocean First Institute

Nonprofit profile at a glance

EIN
471716881
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-EZ 2019
Location
Boulder, CO, USA
Phone
3039567885
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Education N.E.C.

Official website

Reported finances

Revenue
$598,614
Expenses
$586,863
Assets
$597,725
Liabilities
$60,646

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Mikki McComb-Kobza (Executive Director)

Highest reported compensation

  • Mikki McComb-Kobza (Executive Director): $100,438 total reported compensation

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

Overview

Mission

The mission of Ocean First Institute is ocean conservation through research and education. We work to deepen the natural connection between people and the ocean. We educate and empower people to understand the ocean is our life support system no matter where we live, and that we need a healthy ocean to have a healthy planet. We provide individuals the opportunity to engage in activities that support sustainability, biodiversity, and improvethe health of our ocean.

What it reported doing in 2024

3. Shark Field CourseShark research conducted from the Key Largo, Florida lab, focusing on abundance, seasonality, and species within a marine protected area in the Florida Keys. Undergraduate students are trained through four summer courses on marine science research methods. Ocean First Institute received in-kind support in the form of donated use of lab space from Marine Lab, donated research boat vessel use from International Seakeepers Society, and donated trailer and shed use from other community partners.

Operating model

Revenue model
Donor-supported. 71% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 74
  • Transparency & Controls: 92
  • Accountability: 84
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 70.5%; rating input score 70
  • Program expense ratio: 72.3%; rating input score 72
  • Fundraising efficiency: $968.58 raised per $1 spent on fundraising; rating input score 97; 97th 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: 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; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2%; rating input score 42; 42nd percentile among comparable filings
  • Total-asset coverage ratio: 1.02; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 42; 42nd percentile among comparable filings
  • Officer compensation ratio: 17.1%; rating input score 19; 19th percentile among comparable filings

Growth

  • Program expense growth: 29.7% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 22.1% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 36.2% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 70.5% of revenue deployed · 72.3% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $424K in reported program spending
  • Leadership: top reported pay $100K · 8 people listed
  • Consistency: 27 of 27 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • 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.

  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • Moderate — Sustainability: Operating margin scored 42/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • High — Sustainability: Officer compensation ratio scored 19/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 42/100.