Civic Intelligence

Savannah Ocean Exchange Inc

990 • Fiscal year 2019 • EIN 27-2691376

Jan 01, 2019 to Dec 31, 2019 • Filed on Nov 14, 2020

Organization ProfileWWW.OCEANEXCHANGE.ORG
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

93rd percentile

0.77x

Higher debt load relative to assets than 93% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Liabilities / Revenue

86th percentile

0.17x

Higher debt load relative to revenue than 86% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Net Margin

18th percentile

-17%

Higher net margin than 18% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Top Officer Pay

96th percentile

$68,750

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 23.3% of source-year revenue.

2019 filings • 501(c)3 • <$500k nonprofits • Source year 2019

Asset Growth

38th percentile

-3.1%

Faster asset growth than 38% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Revenue Growth

23rd percentile

-21%

Faster revenue growth than 23% of similar nonprofits.

2019 filings • 501(c)3 • <$500k nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Down

$63,327

Down $2,041 (-3.1%) from 2018

Net Assets

Down

$14,561

Down $50,807 (-78%) from 2018

Liabilities

Up

$48,766

Up $48,766 from 2018

Revenue And Expenses
Liabilities / Revenue86th percentileNet Margin18th percentile

Revenue

Down

$295,103

Down $79,247 (-21%) from 2018

Expenses

Down

$345,910

Down $77,687 (-18%) from 2018

Net Income

Down

-$50,807

Down $1,560 (-3.2%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth38th percentile

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

2019

Assets$63,327
Liabilities$48,766
Net Assets$14,561
Open 2019 Filing

Operations Trend

Revenue Growth23rd percentile

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

2019

Revenue$295,103
Expenses$345,910
Net Income-$50,807
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 14, 2020
Return Version
2019v5.0
Gross Receipts
$295,103
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.

To help accelerate the adoption of innovative solutions from start up companies, all in support of healthy oceans, resilient coastlines, and sustainable shipping.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$65,368$63,327▼ $2,041
Total Assets$65,368$63,327▼ $2,041
Liabilities
Other Liabilities-$48,766-
Total Liabilities$0$48,766▲ $48,766
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$65,368$14,561▼ $50,807
Total Net Assets Fund Balance$65,368$14,561▼ $50,807
Total Liabilities and Net Assets / Fund Balance$65,368$63,327▼ $2,041
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Millicent PittsCEO/executivFT$68,750$68,750

Board Members and Trustees

NameTitle
William BrennanChairman
Angus LittlejohnDirector
Ann CarpenterDirector
Cathy J SakasDirector
Ira P BermanDirector
Irene Reynolds SchierDirector
Jud HillDirector
Kelly SkidmoreDirector
Phil BeierlDirector
Roger StrevensDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$281,875
Program Service Revenue
$13,228
Investment Income
$0
Other Revenue
$0
All Other Contributions
$256,875
Change in Net Assets
$-50,807
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$143,762
Salaries, Compensation, and Employee Benefits$102,148
Grants and Similar Amounts Paid$100,000
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$110,119--$110,119
Foreign Grants$100,000--$100,000
Current Officers, Directors, Trustees, and Key Employees$65,313$3,438-$68,751
Other Salaries and Wages$24,757$1,303-$26,060
Advertising$22,428--$22,428
Payroll Taxes$6,970$367-$7,337
Insurance$3,408--$3,408
Travel$3,254--$3,254
Fees for Services Other$1,600--$1,600
Other Expenses$880$46-$926
Fees for Services Accounting-$650-$650
Information Technology-$360-$360
Total Functional Expenses$339,695$6,215$0$345,910
International Activity

International Compliance

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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loan Payable$48,766
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

“The board of directors review and approve the prepared form 900 which is signed by the ceo/president and filed with the internal revenue service and corresponding state agencies.”

Form 990, Page 6, Part VI, Line 12C

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

Form 990, Page 6, Part VI, 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, Page 6, Part VI, 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
Millicent Pitts
Title
CEO/executive Direct
Phone
9126604696
Signed
2020-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Millicent Pitts
Formed
2010
Legal Domicile
Ga
Voting Board Members
10
Independent Board Members
10
Employees
2
Volunteers
5

Preparer

Firm
Hancock Askew & Co Llp
Address
100 RIVERVIEW DR, SAVANNAH, GA 31404
Preparer
Susan G Corderman Clifford
Phone
9122348243
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE BOARD OF DIRECTORS REVIEW AND APPROVE THE PREPARED FORM 900 WHICH IS SIGNED BY THE 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.
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ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0CEO/EXECUTIVE DIRECT
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-14
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ReturnHeader/FilingSecurityInformation/IPTm008:15:23
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0580662558
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HANCOCK ASKEW & CO LLP
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SAVANNAH
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd031404
ReturnHeader/PreparerPersonGrp/PhoneNum09122348243
ReturnHeader/PreparerPersonGrp/PreparationDt02020-11-14
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0SUSAN G CORDERMAN CLIFFORD
ReturnHeader/ReturnTs02020-11-16T08:15:23-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$63,327
Liabilities
$48,766
Net assets
$14,561
Revenue
$295,103
Expenses
$345,910
Net income
-$50,807
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.91$0.03$0.88$9.61$8.90$0.71
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.70$0.03$0.67$8.12$8.68$0.56
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.26$0.03$1.23$4.82$4.62$0.19
2019Detailed filing. Detailed filing data is available for this year.$0.63$0.49$0.15$2.95$3.46$0.51
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.65$0.00$0.65$3.74$4.24$0.49
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.80$0.00$0.80$4.22$4.21$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.79$0.00$0.79$5.36$5.30$0.06
2014Detailed filing. Detailed filing data is available for this year.$0.73$0.00$0.73$5.11$4.72$0.38
2013Detailed filing. Detailed filing data is available for this year.$0.34$0.00$0.34$5.73$6.39$0.66
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.00$0.00$1.00$4.76
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.05$0.00$0.05$3.63
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2019 filings • 501(c)3 • <$500k nonprofits