Overview
What is Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc)?
Billion Oyster Project Inc., previously known as New York Harbor Foundation Inc., is a nonprofit organization based in New York City, specifically at 10 South Street Slip 7. Their primary objective is to restore oyster reef habitats in New York Harbor through collaborative efforts with various technical, educational, and volunteer networks. This mission is achieved by constructing structures for oyster restoration, cultivating oysters through aquaculture and other restoration activities, installing reef structures to promote self-sustaining oyster populations, and repurposing mollusk shells from waste streams with the help of restaurants, states, and industries for restoration purposes. Essentially, Billion Oyster Project Inc. aims to revitalize the oyster population in New York Harbor through public education initiatives.
Official website here: www.billionoysterproject.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 96% - Four-Star out of Four Star rating
The Billion Oyster Project Inc has achieved a remarkable 96% score on Charity Navigator, indicating a strong financial health and operational transparency. With an Accountability & Finance Score of 97, the organization demonstrates rigorous adherence to best practices in governance, reflected in its fully independent board and comprehensive financial oversight measures.
The organization excels in its program efficiency, allocating 73.12% of its expenses directly to its mission-related activities. Additionally, it maintains a strong fundraising efficiency ratio, requiring only $0.15 to raise a dollar, which highlights its effective financial management. The presence of robust policies concerning conflicts of interest and whistleblower protections further strengthens its accountability.
However, while the organization scores well in financial metrics, its Culture & Community Score of 83 suggests there may be some areas for improvement regarding its engagement and equity strategies. Overall, the Billion Oyster Project Inc is a well-managed nonprofit making significant strides in its mission to restore oyster populations and improve marine ecosystems.
This AI summary has been generated from information found on Charity Navigator.
Is Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc) legitimate?
Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc) is a legitimate nonprofit organization registered as a 501(c)(3) entity. Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc) submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $236,227
Professional Fundraising Fees: $0
Other Salaries and Wages: $3,016,689
For more financial information, click here
Official website here: www.billionoysterproject.org
What is the mission statement of Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc)?
The Billion Oyster Project, formerly known as New York Harbor Foundation Inc, aims to restore oyster reefs in New York Harbor through various public education initiatives. Their mission, in essence, is to revive the oyster population in the harbor by collaborating with interdisciplinary partners and engaging the local community in hands-on activities. This restoration process involves constructing structures for oyster restoration, restoring oysters through aquaculture and other activities, installing reef structures to promote self-sustaining oyster populations, and recycling mollusk shells from waste streams for use in restoration projects. This initiative not only restores the oyster population but also serves to educate the public about the importance of marine ecosystems and sustainable practices.
Official website here: www.billionoysterproject.org
What is the revenue of Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc)?
Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc)'s revenue in 2024 was $6,991,301.
Official website here: www.billionoysterproject.org
Who are the executives of Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc) and what are their salaries?
The average compensation at Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc) during 2024 was $66,386. There are 49 employees and 4200 volunteers at Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc).
Here are 26 key members and their salaries:
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Official website here: www.billionoysterproject.org
Where can I find the form 990 for Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc)?
Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc)'s most recent form 990 was submitted in 2024 and can be accessed here.
Official website here: www.billionoysterproject.org
Learn more at the official website: www.billionoysterproject.org
Mission Statement of Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc)
The Billion Oyster Project Inc., formerly known as the New York Harbor Foundation Inc., is committed to restoring oyster reefs in New York Harbor through public education initiatives. Their mission, in simple terms, is to foster a sustainable oyster population in the harbor. They achieve this by engaging various networks, including technical, educational, and volunteer groups, to co-create oyster reef structures. The Billion Oyster Project also restores oysters through aquaculture and other restoration activities, installing reef structures that promote self-sustaining populations. Furthermore, they divert mollusk shells from the waste stream, transforming them into a source of cured shells for restoration purposes through partnerships with restaurants, states, and industries. This holistic approach aims to revitalize the harbor's oyster population, contributing to a healthier marine ecosystem and providing a valuable educational opportunity for the public.
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Impact
October, 2024
Billion Oyster Project Inc is spearheading a significant restorative initiative in New York Harbor by focusing on the revival of oyster reefs. This project has a multifaceted impact, combining ecological restoration with community engagement and education.
Through interdisciplinary partnerships, the project actively co-creates oyster reef habitats that not only aim to restore the oyster population but also enhance the overall health of the harbor ecosystem. This involves constructing structures that serve as the foundation for oyster restoration while engaging diverse networks, including technical experts, educators, and volunteers.
The project emphasizes practical restoration methods such as aquaculture, allowing for the repopulation of oysters in their natural habitat. By installing reef structures, the initiative creates environments conducive to the development of self-sustaining oyster populations, which are critical for improving water quality and providing habitat for other marine species.
Additionally, Billion Oyster Project positively impacts waste management by diverting mollusk shells from landfills, repurposing them as a resource for oyster reef restoration. Collaborations with restaurants, state agencies, and industry stakeholders facilitate this sustainable practice, further enriching the project's ecological contributions.
By integrating public education initiatives, the project fosters greater awareness and involvement among New Yorkers, cultivating a sense of stewardship for the harbor and its natural resources. Overall, Billion Oyster Project Inc is making strides towards restoring the ecological balance of New York Harbor while building community connections and promoting environmental education.
This information is meant to be a general summary of Billion Oyster Project Inc (Formerly New York Harbor Foundation Inc). Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2024.
- Investment Income: $3,346
- Program Service Revenue: $287,257
- Gross Receipts: $7,614,693
Assets and Liabilities:
- Total Assets: $3,279,884
- Total Liabilities: $407,855
- Net Assets: $2,872,029
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICE FEES
Revenue
$287,257
Organization Details
Founding Year
2010
Principal Officer
Peter Malinowski
Website
www.billionoysterproject.orgNTEE Category
Code: B90 - Education
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