Civic Intelligence

Savannah Ocean Exchange Inc

990 • Fiscal year 2020 • EIN 27-2691376

Jan 01, 2020 to Dec 31, 2020 • Filed on Nov 12, 2021

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

67th percentile

0.03x

Higher debt load relative to assets than 67% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

61st percentile

0.01x

Higher debt load relative to revenue than 61% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

75th percentile

26%

Higher net margin than 75% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

76th percentile

$0

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

84th percentile

68%

Faster asset growth than 84% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

75th percentile

14%

Faster revenue growth than 75% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets67th percentile

Assets

Up

$106,424

Up $43,097 (+68%) from 2019

Net Assets

Up

$103,357

Up $88,796 (+610%) from 2019

Liabilities

Down

$3,067

Down $45,699 (-94%) from 2019

Revenue And Expenses
Liabilities / Revenue61st percentileNet Margin75th percentile

Revenue

Up

$335,500

Up $40,397 (+14%) from 2019

Expenses

Down

$246,704

Down $99,206 (-29%) from 2019

Net Income

Up

$88,796

Up $139,603 (+275%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth84th 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 2020: $106,424Liabilities 2020: $3,067Net Assets 2020: $103,3572020Assets 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

2020

Assets$106,424
Liabilities$3,067
Net Assets$103,357
Open 2020 Filing

Operations Trend

Revenue Growth75th 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 2020: $335,500Expenses 2020: $246,704Net Income 2020: $88,7962020Revenue 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

2020

Revenue$335,500
Expenses$246,704
Net Income$88,796
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Nov 12, 2021
Return Version
2020v4.0
Gross Receipts
$335,500
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$63,327$106,424▲ $43,097
Total Assets$63,327$106,424▲ $43,097
Liabilities
Other Liabilities$48,766$3,067▼ $45,699
Total Liabilities$48,766$3,067▼ $45,699
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$14,561$103,357▲ $88,796
Total Net Assets Fund Balance$14,561$103,357▲ $88,796
Total Liabilities and Net Assets / Fund Balance$63,327$106,424▲ $43,097
Compensation and Service Providers
Top Officer Pay76th percentile

Board Members and Trustees

NameTitle
Angus LittlejohnChair
William BrennanChairman
Ann CarpenterDirector
Cathy J SakasDirector
Charles HinnantDirector
Ira P BermanDirector
Irene Reynolds SchierDirector
Jud HillDirector
Kelly SkidmoreDirector
Phil BeierlDirector
Roger StrevensDirector
Millicent PittsCEO/executiv
Revenue and Support

Revenue Composition

Contributions and Grants
$335,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$500
All Other Contributions
$335,000
Change in Net Assets
$88,796
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$210,000
Salaries, Compensation, and Employee Benefits$20,447
Other Expenses$16,257
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$210,000--$210,000
Other Salaries and Wages$14,373$756-$15,129
Payroll Taxes$5,052$266-$5,318
Insurance$3,467--$3,467
Travel$2,702--$2,702
Fees for Services Other$2,105--$2,105
Other Expenses$966$51-$1,017
Fees for Services Accounting-$700-$700
Total Functional Expenses$244,618$2,086$0$246,704
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Noon Energy IncPalo Alto, CA-Ocean Conservation$100,000
Opus 12 IncBerkeley, CA-Ocean Conservation$100,000
Celise LLCPoquoson, VA-Ocean Conservation$10,000
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$3,067
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
2021-11-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Millicent Pitts
Formed
2010
Legal Domicile
Ga
Voting Board Members
11
Independent Board Members
11
Employees
1

Preparer

Firm
Hancock Askew & Co Llp
Address
100 RIVERVIEW DR, SAVANNAH, GA 31404
Preparer
Susan G Corderman Clifford
Phone
9122348243
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 3

“In the past, the organization's primary program service activity was the annual exchange event . Each year, individuals and organizations from diverse fields with expertise managing global issues meet in savannah, georgia. Due to covid-19, the organization was unable to conduct the annual exchange event in 2020.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1NOON ENERGY INC
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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 THE FOLLOWING YEAR. THESE RESULTS WILL ALSO BE PRESENTED AT FUTURE CONVENTIONS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 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/ExplanationTxt2ALL RELATIONSHIPS ARE CONTINUOUSLY MONITORED BY THE BOARD OF DIRECTORS FOR COMPLIANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 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/ExplanationTxt4THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
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ReturnHeader/TaxYr02020

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$106,424
Liabilities
$3,067
Net assets
$103,357
Revenue
$335,500
Expenses
$246,704
Net income
$88,796
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
2020Detailed filing. Detailed filing data is available for this year.$1.06$0.03$1.03$3.36$2.47$0.89
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$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