Civic Intelligence

Savannah Ocean Exchange Inc

990 • Fiscal year 2016 • EIN 27-2691376

Jan 01, 2016 to Dec 31, 2016 • Filed on Nov 14, 2017

480 Butler AveSavannah, GA 31406

(912) 660-4696

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

56th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Liabilities / Revenue

55th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Net Margin

43rd percentile

0.3%

Higher net margin than 43% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Top Officer Pay

97th percentile

$75,000

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 17.8% of source-year revenue.

2016 filings • 501(c)3 • <$500k nonprofits • Source year 2016

Asset Growth

50th percentile

1.6%

Faster asset growth than 50% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Revenue Growth

23rd percentile

-21%

Faster revenue growth than 23% of similar nonprofits.

2016 filings • 501(c)3 • <$500k nonprofits • Annualized from 2015 to 2016

Assets

Up

$80,043

Up $1,248 (+1.6%) from 2015

Net Assets

Up

$80,043

Up $1,248 (+1.6%) from 2015

Liabilities

Flat

$0

Flat from 2015

Revenue

Down

$422,479

Down $113,814 (-21%) from 2015

Expenses

Down

$421,231

Down $108,788 (-21%) from 2015

Net Income

Down

$1,248

Down $5,026 (-80%) from 2015

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150K$100K$50K$0Assets 2011: $5,266Liabilities 2011: $0Net Assets 2011: $5,2662011Assets 2012: $100,490Liabilities 2012: $0Net Assets 2012: $100,4902012Assets 2013: $34,290Liabilities 2013: $0Net Assets 2013: $34,2902013Assets 2014: $72,521Liabilities 2014: $0Net Assets 2014: $72,5212014Assets 2015: $78,795Liabilities 2015: $0Net Assets 2015: $78,7952015Assets 2016: $80,043Liabilities 2016: $0Net Assets 2016: $80,0432016Assets 2018: $65,368Liabilities 2018: $0Net Assets 2018: $65,3682018Assets 2019: $63,327Liabilities 2019: $48,766Net Assets 2019: $14,5612019Assets 2021: $125,873Liabilities 2021: $3,067Net Assets 2021: $122,8062021Assets 2022: $70,196Liabilities 2022: $3,067Net Assets 2022: $67,1292022Assets 2024: $90,583Liabilities 2024: $3,067Net Assets 2024: $87,5162024

Highlighted filing

2016

Assets$80,043
Liabilities$0
Net Assets$80,043

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2011: $362,8562011Expenses 2012: $476,2642012Revenue 2013: $572,632Expenses 2013: $638,832Net Income 2013: -$66,2002013Revenue 2014: $510,591Expenses 2014: $472,361Net Income 2014: $38,2302014Revenue 2015: $536,293Expenses 2015: $530,019Net Income 2015: $6,2742015Revenue 2016: $422,479Expenses 2016: $421,231Net Income 2016: $1,2482016Revenue 2018: $374,350Expenses 2018: $423,597Net Income 2018: -$49,2472018Revenue 2019: $295,103Expenses 2019: $345,910Net Income 2019: -$50,8072019Revenue 2021: $481,774Expenses 2021: $462,325Net Income 2021: $19,4492021Revenue 2022: $811,877Expenses 2022: $867,554Net Income 2022: -$55,6772022Revenue 2024: $960,750Expenses 2024: $890,176Net Income 2024: $70,5742024

Highlighted filing

2016

Revenue$422,479
Expenses$421,231
Net Income$1,248
Jump To
Filing Snapshot
Filing Period
Jan 1, 2016 to Dec 31, 2016
Signed
Nov 14, 2017
Return Version
2016v3.0
Gross Receipts
$422,479
Mission and Program Overview

Mission

The organization is designed to showcase global organizations working together and crossing disciplines and boundaries to identify and support solutions to today's global challenges.

The organization's core functions are conducting annual searches for best-in-class solutions to the ocean-related challenges identified by the board of governors, publicizing and implementing events related to mankind's relationship with the ocean and distributing grants to tax-exempt organizations in support of their implementation of solutions that positively impact the ocean.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$78,795$80,043▲ $1,248
Total Assets$78,795$80,043▲ $1,248
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Unrestricted Net Assets$78,795$80,043▲ $1,248
Total Net Assets Fund Balance$78,795$80,043▲ $1,248
Total Liabilities and Net Assets / Fund Balance$78,795$80,043▲ $1,248
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Millicent PittsCEO/executive DirectorFT$75,000$75,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$413,280
Program Service Revenue
$9,199
Investment Income
$0
Other Revenue
$0
All Other Contributions
$338,280
Change in Net Assets
$1,248
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$186,465
Salaries, Compensation, and Employee Benefits$124,766
Grants and Similar Amounts Paid$110,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$106,291--$106,291
Foreign Grants$100,000--$100,000
Current Officers, Directors, Trustees, and Key Employees$71,250$3,750-$75,000
Other Salaries and Wages$39,344$2,071-$41,415
Travel$18,456$6,624-$25,080
Fees for Services Other$18,098--$18,098
Advertising$17,172$904-$18,076
Grants to Domestic Orgs$10,000--$10,000
Payroll Taxes$8,351--$8,351
Other Expenses$4,914$503-$4,914
Insurance$3,445--$3,445
Fees for Services Accounting$475$25-$500
Total Functional Expenses$407,354$13,877$0$421,231
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Touch Light InnovationsChampaign, IL-TO ASSIST IN THE IMPLEMENTATION AND OPERATION OF RECIPIENT'S SOLUTION.$10,000

International Summary

Offices
0
Employees
0
Spending
$0

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Board of directors review the prepared form 990 and approve before it is signed by the acting ceo/president and filed with the internal revenue service and corresponding state agencies.

Form 990, Part VI, Section B, Line 12C

All relationships are continuously monitored by the board of directors for compliance.

Form 990, Part VI, Section B, Line 15A

The entire board of directors approved the compensation of the top management official after reviewing comparative salary levels and the entity's budget. The review and acceptance of the compensation was noted in the board minutes.

Form 990, Part VI, Section C, Line 18

The organization makes its governing documents and financial statements available to the public upon request.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Savannah Ocean Exchange Inc
EIN
27-2691376
Phone
9126604696
Address
480 BUTLER AVE, SAVANNAH, GA 31406

Signing Officer

Name
Cort Atkinson
Title
Director
Phone
9126604696
Signed
2017-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Millicent Pitts
Formed
2010
Legal Domicile
Ga
Voting Board Members
16
Independent Board Members
16
Employees
0
Volunteers
0

Preparer

Firm
Hancock Askew & Co Llp
Address
PO BOX 2486, SAVANNAH, GA 31402
Preparer
Susan G Corderman Clifford
Phone
9122348243
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IRS990/PYRevenuesLessExpensesAmt06274
IRS990/PYSalariesCompEmpBnftPaidAmt079168
IRS990/PYTotalExpensesAmt0530019
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0536293
IRS990/QuidProQuoContributionsInd01
IRS990/QuidProQuoContriDisclInd01
IRS990/ReconcilationRevenueExpnssAmt01248
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt09199
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0413280
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0524875
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0487681
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0384058
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0455000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02264894
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt0246227
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.43650
IRS990ScheduleA/PublicSupportPY170Pct00.43420
IRS990ScheduleA/PublicSupportTotal170Amt0988604
IRS990ScheduleA/SubstantialContributorsTotAmt01276290
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0413280
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0524875
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0487681
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0384058
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0455000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02264894
IRS990ScheduleA/TotalSupportAmt02264894
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleF/BoycottCountriesInd00
IRS990ScheduleF/ContinuationSpentAmt00
IRS990ScheduleF/ContinutationTotalEmployeeCnt00
IRS990ScheduleF/ContinutationTotalOfficeCnt00
IRS990ScheduleF/ForeignCorpOwnershipInd00
IRS990ScheduleF/ForeignPartnershipInd00
IRS990ScheduleF/GrantRecordsMaintainedInd01
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/CashGrantAmt0100000
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/MannerOfCashDisbursementTxt0WIRE TRANSFER
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/PurposeOfGrantTxt0TO ASSIST IN THE IMPLEMENTATION AND OPERATION OF RECIPIENT'S SOLUTION.
IRS990ScheduleF/GrantsToOrgOutsideUSGrp/RegionTxt0BELGIUM
IRS990ScheduleF/InterestInForeignTrustInd00
IRS990ScheduleF/PassiveForeignInvestmestCoInd00
IRS990ScheduleF/SubtotalEmployeesCnt00
IRS990ScheduleF/SubtotalOfficesCnt00
IRS990ScheduleF/SubtotalSpentAmt00
IRS990ScheduleF/SupplementalInformationDetail/ExplanationTxt0THE GRANT RECIPIENT IS REQUIRED TO REPORT ON THEIR USE OF GRANT FUNDING QUARTERLY IN ADDITION TO MAKING A PRESENTATION AT THE ANNUAL CONFERENCE IN THE YEARS FOLLOWING THE RECEIPT OF FUNDS.
IRS990ScheduleF/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleF/TotalEmployeeCnt00
IRS990ScheduleF/TotalOfficeCnt00
IRS990ScheduleF/TotalOtherOrgCnt01
IRS990ScheduleF/TotalSpentAmt00
IRS990ScheduleF/TransferToForeignCorpInd00
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/RecipientTable/CashGrantAmt010000
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0TO ASSIST IN THE IMPLEMENTATION AND OPERATION OF RECIPIENT'S SOLUTION.
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0TOUCH LIGHT INNOVATIONS
IRS990ScheduleI/RecipientTable/RecipientEIN0813076201
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt060 HAZELWOOD DRIVE
IRS990ScheduleI/RecipientTable/USAddress/CityNm0CHAMPAIGN
IRS990ScheduleI/RecipientTable/USAddress/StateAbbreviationCd0IL
IRS990ScheduleI/RecipientTable/USAddress/ZIPCd061820
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0SAVANNAH OCEAN EXCHANGE BOARD OF GOVERNORS ANNUALLY SELECTS A TOPIC OF CONCERN RELATED TO THE ENTITY'S MISSION. THEY ACCEPT UP TO ONE THOUSAND APPLICANT SUBMISSIONS THAT OFFER A SOLUTION IN ACCORDANCE WITH THE GOVERNOR'S GUIDELINES. TEN FINALISTS ARE SELECTED TO BE SHOWCASED AT THE ANNUAL SOLUTIONS EXCHANGE CONVENTION. SOLUTIONS WILL BE CHOSEN TO RECEIVE THE ANNUAL GRANTS TO ASSIST IN THE IMPLEMENTATION AND OPERATION OF THE CHOSEN SOLUTIONS. THE RECIPIENTS ARE TO DOCUMENT IN WRITING THE EXPENSE AND SUCCESS OF THE GRANT AND REPORT TO SAVANNAH OCEAN EXCHANGE THROUGHOUT FOLLOWING YEAR. THESE RESULTS WILL ALSO BE PRESENTED AT FUTURE CONVENTIONS.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0PART I, LINE 2:
IRS990ScheduleI/TotalOtherOrgCnt01
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SubstantiationRequiredInd01
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE DIRECTORS OF THE SAVANNAH OCEAN EXCHANGE ARE NOT COMPENSATED, BUT THEY ARE REIMBURSED FOR APPROVED EXPENSES UNDER AN ACCOUNTABLE PLAN. THESE EXPENSES ARE DOCUMENTED AND APPROVED BEFORE THEY ARE REIMBURSED.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD OF DIRECTORS REVIEW THE PREPARED FORM 990 AND APPROVE BEFORE IT IS SIGNED BY THE ACTING CEO/PRESIDENT AND FILED WITH THE INTERNAL REVENUE SERVICE AND CORRESPONDING STATE AGENCIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL RELATIONSHIPS ARE CONTINUOUSLY MONITORED BY THE BOARD OF DIRECTORS FOR COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ENTIRE BOARD OF DIRECTORS APPROVED THE COMPENSATION OF THE TOP MANAGEMENT OFFICIAL AFTER REVIEWING COMPARATIVE SALARY LEVELS AND THE ENTITY'S BUDGET. THE REVIEW AND ACCEPTANCE OF THE COMPENSATION WAS NOTED IN THE BOARD MINUTES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0GA
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt078795
IRS990/TotalAssetsEOYAmt080043
IRS990/TotalAssetsGrp/BOYAmt078795
IRS990/TotalAssetsGrp/EOYAmt080043
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0413280
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt013877
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0407354
IRS990/TotalFunctionalExpensesGrp/TotalAmt0421231
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt078795
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt080043
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0407354

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