Civic Intelligence

Oceangate Foundation

990 • Fiscal year 2014 • EIN 27-2857478

Jan 01, 2014 to Dec 31, 2014 • Filed on May 12, 2015

Organization Profilewww.oceangatefoundation.org
220 2nd Ave SSeattle, WA 98104

(425) 339-2400

Siviq Scores

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

Liabilities / Assets

96th percentile

1.52x

Higher debt load relative to assets than 96% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Liabilities / Revenue

95th percentile

0.96x

Higher debt load relative to revenue than 95% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Net Margin

87th percentile

37%

Higher net margin than 87% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Top Officer Pay

86th percentile

$30,896

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 14.2% of source-year revenue.

2014 filings • 501(c)3 • <$500k nonprofits • Source year 2014

Asset Growth

90th percentile

86%

Faster asset growth than 90% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Revenue Growth

77th percentile

29%

Faster revenue growth than 77% of similar nonprofits.

2014 filings • 501(c)3 • <$500k nonprofits • Annualized from 2013 to 2014

Balance Sheet
Liabilities / Assets96th percentile

Assets

Up

$138,157

Up $63,737 (+86%) from 2013

Net Assets

Up

-$71,653

Up $71,017 (+50%) from 2013

Liabilities

Down

$209,810

Down $7,280 (-3.4%) from 2013

Revenue And Expenses
Liabilities / Revenue95th percentileNet Margin87th percentile

Revenue

Up

$217,728

Up $48,320 (+29%) from 2013

Expenses

Down

$138,127

Down $15,275 (-10.0%) from 2013

Net Income

Up

$79,601

Up $63,595 (+397%) from 2013

Historical Trend

Balance Sheet Trend

Asset Growth90th percentile

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

$300K$200K$100K$0-$100K-$200KAssets 2012: $60,888Liabilities 2012: $200,000Net Assets 2012: -$139,1122012Assets 2013: $74,420Liabilities 2013: $217,090Net Assets 2013: -$142,6702013Assets 2014: $138,157Liabilities 2014: $209,810Net Assets 2014: -$71,6532014

Highlighted filing

2014

Assets$138,157
Liabilities$209,810
Net Assets-$71,653
Open 2014 Filing

Operations Trend

Revenue Growth77th percentile

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

$300K$200K$100K$0Expenses 2012: $104,6822012Revenue 2013: $169,408Expenses 2013: $153,402Net Income 2013: $16,0062013Revenue 2014: $217,728Expenses 2014: $138,127Net Income 2014: $79,6012014

Highlighted filing

2014

Revenue$217,728
Expenses$138,127
Net Income$79,601
Open 2014 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2014 to Dec 31, 2014
Signed
May 12, 2015
Return Version
2014v5.0
Gross Receipts
$217,728
Mission and Program Overview

Mission

Expand Humanity's understanding of the world's oceans through exploration, education and outreach. We achieve our goals by organizing exploration expeditions that are scientifically, historically, or environmentally critical.

Balance Sheet Detail
LineBeginningEndChange
Assets
Loans From Officers Directors$217,090$209,810▼ $7,280
Cash and Non-Interest-Bearing Accounts$68,799$132,536▲ $63,737
Land, Buildings, and Equipment, Net$5,621$5,621→ $0
Rtn Earn Endowment Incm Other Fnds$-142,670$-71,653▲ $71,017
Total Assets$74,420$138,157▲ $63,737
Liabilities
Total Liabilities$217,090$209,810▼ $7,280
Net Assets / Fund Balance
Total Net Assets Fund Balance$-142,670$-71,653▲ $71,017
Total Liabilities and Net Assets / Fund Balance$74,420$138,157▲ $63,737

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,621--
Compensation and Service Providers
Top Officer Pay86th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Christian SarasonExecutive DirectorFT$25,741$5,155$30,896

Board Members and Trustees

NameTitle
Craig HowardChairman
Russell McDuffTreasurer Chairman
Krishna RoyTrustee
Stockton RushTrustee
Wendy RushTrustee
David WilliamsonSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$217,728
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$217,728
Change in Net Assets
$79,601
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$101,474
Salaries, Compensation, and Employee Benefits$36,653
Total Fundraising Expense$4,633
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$44,305$10,500-$54,805
Travel$35,672$46$733$36,451
Current Officers, Directors, Trustees, and Key Employees$10,296$12,871$2,574$25,741
Payroll Taxes$2,302$2,878$576$5,756
Other Employee Benefits$2,062$2,578$516$5,156
Office Expenses$1,071$2,499-$3,570
Fees for Services Legal-$1,859-$1,859
Occupancy-$1,630-$1,630
Fees for Services Accounting-$1,249-$1,249
Information Technology-$850$94$944
Other Expenses-$345-$345
Advertising-$140$140$280
Total Functional Expenses$95,708$37,786$4,633$138,127
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$217,090$209,810▼ $7,280
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
No
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 governing body review Part VI line 11

“Form 990 is reviewed by Chairman and approved prior to filing.”

Governing documents etc available to public Part VI line 19

“form 990, Part VI, Section C, Line 19: These documents are available upon written request.Form 990, Part VI, Section B Line 11BReview of form 990The form 990 is reviewed by management and approved prior to filing.”

Filing and Contact Details

Filer

Filer Name
OceanGate Foundation
EIN
27-2857478
Address
220 2nd Ave S, Seattle, WA 98104

Signing Officer

Name
Russell McDuff
Title
Director
Signed
2015-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Craig Howard
Formed
2010
Legal Domicile
Wa
Voting Board Members
7
Independent Board Members
4
Employees
1

Preparer

Firm
Security Tax Services LLC
Address
2802 Wetmore Ave Ste 212, Everett, WA 98201
Preparer
Robert A Branting Sr EA
Phone
4253392400
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

“unpaid Interest expense added to loan balance and other misc differences”

List of other fees for services expenses Part IX line 11G

“Diving Fees - $17,143 ProgramEducation Consultant - $2,662 ProgramConsulting Firm - $24,500 Program, $10,500 Management”

Raw XML Appendix349 raw XML fields

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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2unpaid Interest expense added to loan balance and other misc differences
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IRS990/TotalReportableCompFromOrgAmt025741
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0217728
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt074420
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0138157
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TransactionWithControlEntInd0false
IRS990/TravelGrp/FundraisingAmt0733
IRS990/TravelGrp/ManagementAndGeneralAmt046
IRS990/TravelGrp/ProgramServicesAmt035672
IRS990/TravelGrp/TotalAmt036451
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/VotingMembersGoverningBodyCnt07
IRS990/VotingMembersIndependentCnt04
IRS990/WebsiteAddressTxt0www.oceangatefoundation.org
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0Russell McDuff
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-05-12
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OceanGate Foundation
ReturnHeader/Filer/BusinessNameControlTxt0OCEA
ReturnHeader/Filer/EIN0272857478
ReturnHeader/Filer/USAddress/AddressLine1Txt0220 2nd Ave S
ReturnHeader/Filer/USAddress/CityNm0Seattle
ReturnHeader/Filer/USAddress/StateAbbreviationCd0WA
ReturnHeader/Filer/USAddress/ZIPCd098104
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0262516082
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Security Tax Services LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt02802 Wetmore Ave Ste 212
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Everett
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0WA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd098201
ReturnHeader/PreparerPersonGrp/PhoneNum04253392400
ReturnHeader/PreparerPersonGrp/PreparationDt02015-11-12
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Robert A Branting Sr EA
ReturnHeader/ReturnTs02015-11-12T17:04:04-08:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-01-01
ReturnHeader/TaxPeriodEndDt02014-12-31
ReturnHeader/TaxYr02014

Document Assets

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Filings

Displayed year

2014 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$138,157
Liabilities
$209,810
Net assets
-$71,653
Revenue
$217,728
Expenses
$138,127
Net income
$79,601
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2014Detailed filing. Detailed filing data is available for this year.$1.38$2.10$0.72$2.18$1.38$0.80
2013Detailed filing. Detailed filing data is available for this year.$0.74$2.17$1.43$1.69$1.53$0.16
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.61$2.00$1.39$1.05