Ocean Voyages Institute

What it reported doing in 2024

Ocean voyages institute was founded in 1979 and was engaged in local and global sail-training programs, as well as nautical history programs in diverse areas ranging from the sausalito waterfront to working with the polynesian voyaging society in the pacific. In 2009 , when ovi did our first major month-long expedition to the north pacific subtropical convergence zone , our main focus has become enacting solutions to ocean cleanup and restoration. The toxic plastic proliferation besieging our global ocean has to be curtailed to restore ocean health.during 2024, ocean voyages institute has put major emphasis on completing the design phase and working on funding two custom designed sailing cargo cleanup ships. Ovi is working to complete design and fundraising so construction can begin in 2026.for the specific purpose of effectively removing plastics from our ocean.our primary work over the past 16 years has been focused on finding solutions for the escalating problem of plastics in our global ocean, including effective cleanup missions. Ocean voyages institute has been involved in ship operations and project oversight for the past 42 years involving ocean education programs, as well as scientific projects and ocean restoration. Our ocean cleanup efforts in the north pacific subtropical convergence zone area, (north pacific gyre) have been very effective in removing plastic consumer debris and plastic ghostnets from this region. We have found by using both sailing ships and motor vessels, that using windpower makes the expeditions much more ecological and allows us more reasonable pricing to do the massive removal of plastics necessary for ocean remediation/cleanup. Ovi continues to believe in using our gps satellite trackers for vessels of opportunity to tag ghostnets and other large debris allowing for extremely efficient cleanup. We have proven that our methods work and are looking forward to scaling up our efforts with additional vessels. Ocean voyages institute has effectively removed almost 1,000,000 pounds of plastic debris from our ocean during our cleanup operations. In 2025/26 and beyond we expect to be continuing our cleanups in the north pacific gyre during the summer seasons and adding cleanups in the panama/costa rica/columbia and galapagos island areas as well as the pacific islands, new zealand, australia and globally. We are pleased to have continuing success in fulfilling our commitment that 100% of the plastic we remove from the ocean is upcycled/recycled/repurposed . We are committed to insuring none of the plastic ends up back in the ocean or in a landfill.in 2024, in addition to our direct removal work of collecting derelict fishing gear and consumer debris as well as dories, skiffs and small vessels found in the gyre areas. We continue to focus attention on educating people about the importance of keeping plastics out of our natural environment, rivers, beaches, oceans, etc. Ocean voyages institute educates through lectures, film, attending & participating in variety of environmental and ocean conferences/events, social media and collaboration with various other non-profits and educational institutions. We work with a network of teachers and students throughout the u.s. And internationally. We offer information and collaboration with many organizations. Educating the public though lectures, events, social media, informative film & video publications about the importance of a healthy ocean for our own health and the health of our planet.ovi's efforts are focused both on stopping the flow of plastics into the ocean and to encourage more clean ups, in parks, rivers, beaches, at sea, and mid-ocean. We need to change the amount of disposable plastics that are utilized in our world and ultimately end up in our ocean. We need to limit ways of using plastic for things we keep and do not dispose of such as railroad ties, construction, insulation boards, etc. And stop the proliferation of throw away plastic knives, f

Financial Efficiency

• Mission deployment rate: 28.5%; rating input score 29
• Program expense ratio: 80.7%; rating input score 81
• Fundraising efficiency: $206.11 raised per $1 spent on fundraising; rating input score 92; 92nd 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: 66.7%; rating input score 67; 14th percentile among comparable filings
• Governance controls: 2 of 7 controls in place; rating input score 29
  • Conflict-of-interest policy: Fail
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • 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: 64.6%; rating input score 95; 95th percentile among comparable filings
• Total-asset coverage ratio: 20.63; rating input score 96; 96th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 76; 76th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

• Program expense growth: 10.8% per year; rating input score 100; 65th percentile among comparable filings
• Revenue growth: 11.4% per year; rating input score 100; 71st percentile among comparable filings
• Asset growth: 9.5% per year; rating input score 100; 57th percentile among comparable filings