Overview
What is American Friends Of The Ocean Cleanup Foundation?
The American Friends of The Ocean Cleanup Foundation is a nonprofit organization based in New York City, dedicated to raising funds primarily for ocean cleanup initiatives across the globe. It functions as a bridge between American donors and the Dutch organization, Stichting The Ocean Cleanup, granting approved funds to support their mission of preserving and protecting the natural ocean environment. By promoting large-scale and efficient extraction and removal of waste from oceans, seas, and other waste areas, as well as environmentally friendly recycling of such waste, the Foundation strives to make a significant impact on the health of our waterways for the benefit of the public.
Official website here: www.theoceancleanup.com/usa
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
The American Friends Of The Ocean Cleanup Foundation has achieved a Three-Star rating from Charity Navigator, which reflects a solid performance primarily in Accountability & Finance. The organization showcases a well-structured board with 60% independent members and has received top marks for its financial oversight, such as a complete audit and the absence of material diversion of assets. Its program expense ratio is impressive at 97.08%, indicating that a significant portion of its funds is directed toward its mission.
However, there are notable gaps in its governance policies, specifically the absence of a whistleblower and document retention and destruction policies, which resulted in lower scores in those areas. While the financial health appears strong with a favorable liabilities to assets ratio of 56.62% and working capital ratio of 1.86 years, the fundraising efficiency ratio reveals that the organization raises only $0.01 for every dollar spent on fundraising efforts.
Overall, while the foundation has demonstrated accountability and a commitment to its program expenses, addressing the policy deficiencies could enhance its governance and operational transparency.
This AI summary has been generated from information found on Charity Navigator.
Is American Friends Of The Ocean Cleanup Foundation legitimate?
American Friends Of The Ocean Cleanup Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. American Friends Of The Ocean Cleanup Foundation 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.theoceancleanup.com/usa
What is the mission statement of American Friends Of The Ocean Cleanup Foundation?
The American Friends Of The Ocean Cleanup Foundation is dedicated to preserving and protecting the natural ocean environment for the public's benefit. They strive to achieve this mission by promoting, developing, and performing large-scale and efficient waste extraction and removal from oceans, seas, and other waste areas. Additionally, they advocate for and engage in environmentally friendly recycling of the collected waste. Through these efforts, they aim to enhance the health and wellbeing of marine ecosystems and contribute to a cleaner and more sustainable future for all.
Official website here: www.theoceancleanup.com/usa
Who is the CEO of American Friends Of The Ocean Cleanup Foundation?
Joy P Gao is the President of American Friends Of The Ocean Cleanup Foundation.
Official website here: www.theoceancleanup.com/usa
What is the revenue of American Friends Of The Ocean Cleanup Foundation?
American Friends Of The Ocean Cleanup Foundation's revenue in 2022 was $36,740,334.
Official website here: www.theoceancleanup.com/usa
Who are the executives of American Friends Of The Ocean Cleanup Foundation and what are their salaries?
Here are 6 key members and their salaries:
- Compensation: $0
- Related: $142,534
- Other: $0
- Compensation: $0
- Related: $79,444
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $145,641
- Other: $0
Official website here: www.theoceancleanup.com/usa
Where can I find the form 990 for American Friends Of The Ocean Cleanup Foundation?
American Friends Of The Ocean Cleanup Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.theoceancleanup.com/usa
Learn more at the official website: www.theoceancleanup.com/usa
Mission Statement of American Friends Of The Ocean Cleanup Foundation
The American Friends of The Ocean Cleanup Foundation is a nonprofit organization dedicated to preserving and protecting the natural ocean environment for the benefit of the public. The foundation's mission is twofold. Firstly, it aims to promote, develop, and carry out the environmentally friendly, large-scale, and efficient extraction and removal of waste from oceans, seas, and other waste areas. Secondly, it strives to promote, develop, and perform the environmentally friendly recycling of such waste.
Through its efforts, the American Friends of The Ocean Cleanup Foundation works tirelessly to keep the world's waterways clean and free from waste. It employs advanced technologies to extract and remove waste from the ocean, ensuring that these environments remain healthy and thriving for future generations. Additionally, the foundation is committed to recycling the waste it collects, reducing the amount of waste that ends up in landfills and minimizing the impact on the environment. By combining extraction, removal, and recycling, the American Friends of The Ocean Cleanup Foundation is making a significant contribution to the preservation and protection of the natural ocean environment.
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Impact
October, 2024
American Friends Of The Ocean Cleanup Foundation plays a crucial role in preserving and protecting the natural ocean environment for the benefit of the public. By soliciting donations in the U.S., it supports significant cleanup initiatives in oceans, rivers, and other bodies of water across the globe.
The foundation rigorously evaluates these donations through an independent board, ensuring that the funds allocated are used effectively to drive impactful initiatives aligned with their mission. By directing resources primarily to the Dutch organization, Stichting The Ocean Cleanup, they facilitate large-scale, environmentally friendly extraction and removal of waste from marine and aquatic environments.
Their impact extends beyond cleanup efforts; the foundation also promotes the recycling of collected waste, contributing to a circular economy and mitigating the negative effects of pollution on marine life and ecosystems. Through these comprehensive efforts, the foundation aims to foster a healthier ocean environment for future generations.
This information is meant to be a general summary of American Friends Of The Ocean Cleanup Foundation. 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 2022.
- Gross Receipts: $36,740,334
Assets and Liabilities:
- Total Assets: $45,358,189
- Total Liabilities: $25,684,777
- Net Assets: $19,673,412
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Organization Details
Founding Year
2017
Phone
(332) 236-8004Principal Officer
Joy P Gao
Main Address
228 EAST 45TH STREET SUITE 9E, NEW YORK, NY, 10017
Website
www.theoceancleanup.com/usaNTEE Category
Code: C20 - Environment
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