Nonprofit · EIN 81-5132355
AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION
Tax-exempt · NEW YORK, NY 10017
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $12,513,955 | $17,732,162 | -$5,218,207 | $20,206,628 | $16,622,930 | $3,583,698 |
| December 31, 2023 | 990 | $19,747,898 | $30,619,405 | -$10,871,507 | $20,673,378 | $11,871,473 | $8,801,905 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $11,705,133
- Program service revenue
- $0
- Investment income
- $809,690
- Other revenue
- -$868
Expenses
- Grants and similar amounts paid
- $17,147,000
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $44,625
- Program services (functional)
- $17,301,775
- Management and general (functional)
- $321,793
- Fundraising (functional)
- $108,594
Balance sheet and other
- Total assets, start of year
- $20,673,378
- Total assets, end of year
- $20,206,628
- Total liabilities, end of year
- $16,622,930
- Net assets, end of year
- $3,583,698
- Net assets without donor restrictions
- $2,383,698
- Net assets with donor restrictions
- $1,200,000
- Gross receipts
- $12,513,955
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2017
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| BOYAN DAMIR SLAT | PRESIDENT Trustee or director, Officer | 1 | $0 | $185,750 |
| JOY GAO | TREASURER Trustee or director, Officer | 1 | $0 | $111,297 |
| CARL MR VAN DER ZANDT | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT C PARKER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PETER SCHWARTZ | DIRECTOR Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation | From related orgs |
|---|---|---|---|---|
| BOYAN DAMIR SLAT | PRESIDENT Trustee or director, Officer | 1 | $0 | $160,703 |
| JOY GAO | TREASURER Trustee or director, Officer | 1 | $0 | $89,571 |
| CARL MR VAN DER ZANDT | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| ROBERT C PARKER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| PETER SCHWARTZ | DIRECTOR (FROM 07/23) Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 228 E 45TH ST RM 9E, NEW YORK, NY 10017-3337
- In care of
- % CARL VAN DER ZANDT
- Principal officer (990 for 2024)
- JOY P GAO, 228 EAST 45TH STREET SUITE 9E, NEW YORK, NY 10017
- Signed the 990
- JOY P GAO, TREASURER
- Phone
- (332) 236-8004
- Website
- WWW.THEOCEANCLEANUP.COM/USA
- Return prepared by
- DELOITTE TAX LLP
Mission
TO PRESERVE AND PROTECT THE NATURAL OCEAN ENVIRONMENT FOR THE BENEFIT OF THE PUBLIC INCLUDING (I) PROMOTING, DEVELOPING AND PERFORMING THE ENVIRONMENTALLY FRIENDLY, LARGE-SCALE AND EFFICIENT EXTRACTION AND REMOVAL OF WASTE FROM OCEANS, SEAS AND OTHER WASTE AREAS, AND (II) PROMOTING, DEVELOPING AND PERFORMING THE ENVIRONMENTALLY FRIENDLY RECYCLING OF SUCH WASTE.
Program accomplishments
- AMERICAN FRIENDS OF THE OCEAN CLEANUP, FOUNDATION ("THE FOUNDATION") IS RESPONSIBLE FOR SOLICITING DONATIONS IN THE U.S, PRIMARILY TO SUPPORT CLEAN UP INITIATIVES IN OCEANS, RIVERS, AND OTHER BODIES OF WATER AROUND THE WORLD. THESE DONATIONS ARE REVIEWED BY AN INDEPENDENT BOARD, AND CERTAIN GRANTS ARE APPROVED TO BE MADE TO THE RELATED DUTCH ORGANIZATION, STICHTING THE OCEAN CLEANUP ("STICHTING"), TO BE USED IN SUPPORT OF THEIR MISSION, WHICH IS ALIGNED WITH THE FOUNDATION'S MISSION OF PROTECTING THE OCEANS, THROUGHOUT THE WORLD. THE FOUNDATION HAS FULL CONTROL AND DISCRETION OVER THE DONATED FUNDS IT RECEIVES AND MAINTAINS PROPER INTERNAL CONTROLS AND PROCESSES FOR THE APPROVAL OF GRANTS TO STICHTING.Expenses $17,301,775 · grants $17,147,000
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 81-5132355
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2017
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $20,206,628
- Income (IRS master file)
- $12,513,955
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $12,513,955 | $17,732,162 | $20,206,628 | XML |
| 990 | December 2023 | $19,747,898 | $30,619,405 | $20,673,378 | XML |
| 990 | December 2022 | $36,740,334 | $23,744,670 | $45,358,189 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 81-5132355).
Questions about AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION
- What is the EIN of AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION?
- The employer identification number (EIN) of AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION is 81-5132355.
- Is AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2017.
- Are donations to AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION?
- The 990 for the year ended December 31, 2024 names JOY P GAO.
- Who are the officers and directors of AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does AMERICAN FRIENDS OF THE OCEAN CLEANUP FOUNDATION have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $12,513,955, expenses of $17,732,162 and total assets of $20,206,628 at year end.
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