Ocean Visions Inc

Nonprofit profile at a glance

EIN
842130219
IRS 990 coverage
2019–2024
Forms available
Form 990 2024, Form 990-N 2018
Location
Leesburg, VA, USA
Phone
2027669386
Rating
75
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Marine Science and Oceanography

Reported finances

Revenue
$8,313,870
Expenses
$3,600,559
Assets
$9,945,033
Liabilities
$184,725

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

Leadership & pay

11 people listed

Executive titles in this filing

  • BRAD ACK (CEO)

Highest reported compensation

  • BRAD ACK (CEO): $316,410 total reported compensation
  • DAVID KOWEEK (CHIEF SCIENTIST): $178,053 total reported compensation
  • COURTNEY MCGEACHY (PROGRAM DIRECTOR): $164,558 total reported compensation

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

Overview

Mission

Ocean visions develops and advances solutions to protect and restore the ocean. We mobilize and support inventors, scientists, policy makers and others to invent and advance innovative ocean-based solutions that reduce stressors, restore ocean ecosystems, and reverse disruption. We focus on critical arenas of needed actions that are underinvested, and we catalyse efforts to develop, test, and ultimately scale innovations to the most pressing challenges to the health of the ocean.

What it reported doing in 2024

Ocean visions is a science-based, not-for-profit conservation organization. We work with and across diverse sectors and disciplines to identify, co-design, evaluate and support implementation of bold ocean-based solutions to counter and reverse dangerous impacts to the ocean. We provide diverse forms of support for the development, testing and application of solutions, and for creation of the enabling social and political frameworks needed for their success. Our work is grounded in robust science, and we continually seek to improve our understanding of the complexity of the challenges.

Operating model

Revenue model
Donor-supported. 97% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 74% for direct work, and 26% for grants.

The verdict

SUPPORTED - A large share of total spending goes to programs and the filed numbers largely add up. A relatively small share of available resources goes toward mission work and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 75
  • Accountability: 90
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 42.3%; rating input score 42
  • Program expense ratio: 93.7%; rating input score 94
  • Fundraising efficiency: $363.23 raised per $1 spent on fundraising; rating input score 95; 95th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 99.7%; rating input score 100; 40th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 83.3%; rating input score 83; 16th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 56.7%; rating input score 94; 94th percentile among comparable filings
  • Total-asset coverage ratio: 2.76; rating input score 72; 72nd percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 81; 81st percentile among comparable filings
  • Officer compensation ratio: 29.5%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 51.6% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 45.8% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 50.5% per year; rating input score 100; 98th percentile among comparable filings

Details

  • Where the money goes: 42.3% of revenue deployed · 93.7% of spending went to programs
  • Governance: 5 of 6 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $3.4M in reported program spending
  • Leadership: top reported pay $316K · 11 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 33 of 33 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 6 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 7 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 42/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.