Civic Intelligence

Algae Foundation

990 • Fiscal year 2022 • EIN 46-2312083

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 08, 2023

111 Tripp Lake Camp RoadPoland, ME 04274

(619) 231-1977

Siviq Scores

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

Liabilities / Assets

66th percentile

0.09x

Higher debt load relative to assets than 66% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Liabilities / Revenue

64th percentile

0.07x

Higher debt load relative to revenue than 64% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Net Margin

74th percentile

23%

Higher net margin than 74% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2022

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2022

Asset Growth

87th percentile

52%

Faster asset growth than 87% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Revenue Growth

85th percentile

76%

Faster revenue growth than 85% of similar nonprofits.

2022 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2021 to 2022

Assets

Up

$809,976

Up $277,270 (+52%) from 2021

Net Assets

Up

$738,765

Up $210,152 (+40%) from 2021

Liabilities

Up

$71,211

Up $67,118 (+1640%) from 2021

Revenue

Up

$986,125

Up $427,281 (+76%) from 2021

Expenses

Up

$756,403

Up $278,322 (+58%) from 2021

Net Income

Up

$229,722

Up $148,959 (+184%) from 2021

Historical Trend

Balance Sheet Trend

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

$2.0M$1.5M$1.0M$500K$0Assets 2016: $250,559Liabilities 2016: $0Net Assets 2016: $250,5592016Assets 2017: $247,987Liabilities 2017: $0Net Assets 2017: $247,9872017Assets 2018: $388,619Liabilities 2018: $0Net Assets 2018: $388,6192018Assets 2019: $467,872Liabilities 2019: $96Net Assets 2019: $467,7762019Assets 2020: $449,041Liabilities 2020: $1,191Net Assets 2020: $447,8502020Assets 2021: $532,706Liabilities 2021: $4,093Net Assets 2021: $528,6132021Assets 2022: $809,976Liabilities 2022: $71,211Net Assets 2022: $738,7652022Assets 2023: $1,489,570Liabilities 2023: $50,755Net Assets 2023: $1,438,8152023Assets 2024: $1,585,283Liabilities 2024: $64,463Net Assets 2024: $1,520,8202024

Highlighted filing

2022

Assets$809,976
Liabilities$71,211
Net Assets$738,765

Operations Trend

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

$1.5M$1.0M$500K$0-$500KRevenue 2016: $318,343Expenses 2016: $87,613Net Income 2016: $230,7302016Revenue 2017: $227,250Expenses 2017: $229,822Net Income 2017: -$2,5722017Revenue 2018: $421,141Expenses 2018: $280,509Net Income 2018: $140,6322018Revenue 2019: $464,364Expenses 2019: $385,209Net Income 2019: $79,1552019Revenue 2020: $356,380Expenses 2020: $376,306Net Income 2020: -$19,9262020Revenue 2021: $558,844Expenses 2021: $478,081Net Income 2021: $80,7632021Revenue 2022: $986,125Expenses 2022: $756,403Net Income 2022: $229,7222022Revenue 2023: $1,488,145Expenses 2023: $1,023,095Net Income 2023: $465,0502023Revenue 2024: $1,201,217Expenses 2024: $1,119,212Net Income 2024: $82,0052024

Highlighted filing

2022

Revenue$986,125
Expenses$756,403
Net Income$229,722
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 8, 2023
Return Version
2022v5.0
Gross Receipts
$986,125
Mission and Program Overview

Mission

The algae foundations mission is to promote the power of algae to transform human society and the environment upon which it depends and to facilitate a future in which algae are a fundamental source of energy, nutrition, products and ecological services for sustainable societies globally. To accomplish its mission, the algae foundation engages in and funds educational outreach, research, development, and other activities; finds and supports the development of future leaders of the algae industry through scholarships, grants and other financial and organizational support; and facilitates communication among private, academic and public sector leaders, and the public generally, to increase broader literacy and awareness of the benefits of algae biomass cultivation and commercialization.

The algae foundation's mission is to promote the power of algae to transform human environment upon which it depends and to facilitate a future in which algae are a fundamental source of energy, nutrition, products, and ecological services for sustainable societies globally.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$496,683$561,817▲ $65,134
Accounts Receivable$0$170,000▲ $170,000
Cash and Non-Interest-Bearing Accounts$36,023$43,071▲ $7,048
Pledges and Grants Receivable$0$30,000▲ $30,000
Land, Buildings, and Equipment, Net$0$5,088▲ $5,088
Total Assets$532,706$809,976▲ $277,270
Liabilities
Accounts Payable and Accrued Expenses$0$70,014▲ $70,014
Other Liabilities$4,093$1,197▼ $2,896
Total Liabilities$4,093$71,211▲ $67,118
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$528,613$738,765▲ $210,152
Total Net Assets Fund Balance$528,613$738,765▲ $210,152
Total Liabilities and Net Assets / Fund Balance$532,706$809,976▲ $277,270

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,088$363$5,451
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ira LevineBoard Chair/presidentFT$162,000$162,000
Jakob NalleySecretaryPT$13,400$13,400
Jesse Traller OjedaBoard Member-$3,780$3,780
Philip PienkosBoard Member-$2,000$2,000

Board Members and Trustees

NameTitle
Tiffany CannisVice Chair
Greg MitchellBoard Member
Peter KofflerBoard Member
Edmund GaitherTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Biological Services INC (levine)Management Services For Atec Program111 TRIPP LAKE CAMP ROAD, Poland, ME 04274$162,000
Revenue and Support

Revenue Composition

Contributions and Grants
$983,531
Program Service Revenue
$0
Investment Income
$2,594
Other Revenue
$0
All Other Contributions
$938,041
Change in Net Assets
$229,722

Audited Revenue Reconciliation

Revenue per Audited Statements
$986,125
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$986,125
Total Revenue per Form 990
$986,125
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$417,884
Salaries, Compensation, and Employee Benefits$335,944
Total Fundraising Expense$7,442
Grants and Similar Amounts Paid$2,575
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$173,080$6,480$1,620$181,180
Other Salaries and Wages$120,979$17,294$5,330$143,603
Travel$92,442--$92,442
Advertising$31,999--$31,999
Fees for Services Legal-$20,414-$20,414
Payroll Taxes$9,403$1,344$414$11,161
Insurance-$5,054-$5,054
Occupancy$4,764--$4,764
Grants to Domestic Orgs$2,500--$2,500
All Other Expenses$1,674$749$24$2,447
Other Expenses$2,005$9,623-$2,005
Fees for Services Other$1,236$177$54$1,467
Depreciation Depletion-$363-$363
Foreign Grants$75--$75
Total Functional Expenses$687,463$61,498$7,442$756,403

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$756,403
Total Expenses per Audited Statements$756,403
Total Expenses per Form 990$756,403
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Chairman/presidentServicesNo$162,000
-SpouseServicesNo$83,462
-DirectorServicesNo$13,400
-DirectorServicesNo$3,780
-DirectorServicesNo$2,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Credit Card$1,197
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
Business relationship with family members
Yes
Business relationship with organization members
Yes
Material changes to governing documents
Yes
Compensation from other sources disclosed
Yes
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
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 A, Line 2

Ira levine (chair) is the owner of biological services inc.

Form 990, Part VI, Section A, Line 4

The board approved a restatement to the bylaws on december 19, 2022 and it became effective on january 1, 2023. A minor amendment to those restated bylaws was subsequently passed and effective as of january 30, 2023.

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

Organization's process to review form 990 the complete form 990 is prepared by the treasurer and reviewed by the chair and vice chair of the board, board of directors (for review and comment) and legal counsel.

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

Enforcement of conflicts policy all board members sign a conflict of interest statement before joining the board.

Form 990, Part VI, Section B, Line 15

Compensation process for top official the process for determining compensation of dr. Ike levine in connection with the hourly rate being paid to biological services, inc. Under the independent contractor agreement involving management of the atec program involved a review of comparability data and contemporaneous substantiation of the disinterested directors' deliberation and decision on the matter. On comparability data, the board reviewed emails from the department of energy regarding similar programs and hourly amounts paid to project managers under those programs. The hourly rate being charged by those program managers was comparable to or higher than the amount bsi received under the independent contractor agreement. Other consulting agreements within the algae industry were also reviewed, and the hourly rate that the foundation was being charged by bsi was substantially less than under the other consulting agreements. These investigations suggested that the hourly rate being changed by bsi to the foundation was at or below market rates and that the rate being charged was fair. The algae foundation's conflict of interest policy was also followed. Dr. Levine did not participate in the decision or discussion with respect to approval of the independent contractor agreement with bsi.

Form 990, Part VI, Section C, Line 19

Governing documents disclosure explanation the articles of incorporation are publicly available from the secretary of the state ofwashington. The articles, by-laws and conflict of interest are available to members on the web site and the general public upon request.

Filing and Contact Details

Filer

Filer Name
Algae Foundation
EIN
46-2312083
Phone
6192311977
Address
111 TRIPP LAKE CAMP ROAD, POLAND, ME 04274

Signing Officer

Name
Ira Levine
Title
CEO
Phone
6192311977
Signed
2023-11-08
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ira Levine
Formed
2013
Legal Domicile
Wa
Voting Board Members
8
Independent Board Members
4
Employees
3
Volunteers
7

Preparer

Firm
Considine & Considine
Address
8989 RIO SAN DIEGO DRIVE SUITE 250, SAN DIEGO, CA 92108-1604
Preparer
Richard Hotz
Phone
6192311977
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Cash to accrual adjustment -19,570.

Form 990, Part XII, Line 2C

There was no change during the year.

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IRS990/OtherLiabilitiesGrp/EOYAmt01197
IRS990/OtherSalariesAndWagesGrp/FundraisingAmt05330
IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt017294
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt0120979
IRS990/OtherSalariesAndWagesGrp/TotalAmt0143603
IRS990/PartialLiquidationInd00
IRS990/PayrollTaxesGrp/FundraisingAmt0414
IRS990/PayrollTaxesGrp/ManagementAndGeneralAmt01344
IRS990/PayrollTaxesGrp/ProgramServicesAmt09403
IRS990/PayrollTaxesGrp/TotalAmt011161
IRS990/PledgesAndGrantsReceivableGrp/BOYAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt030000
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0IRA LEVINE
IRS990/ProfessionalFundraisingInd00
IRS990/ProgSrvcAccomActy2Grp/Desc0THE ALGAE TECHNOLOGY EDUCATIONAL CONSORTIUM (ATEC) - TO DEVELOP NOVEL EDUCATIONAL PROGRAMS TO STRENGTHEN INDUSTRY WORKFORCE CAPABILITIES, BY FOCUSING ON THE SKILLS NEEDED TO SUPPORT THE COMMERCIALIZATION OF ALGAL PRODUCTS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0425455
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0887883
IRS990/ProgSrvcAccomActy3Grp/Desc0THE ALGAE ACADEMY - TO UTILIZE ALGAE AS A TOOL TO EFFECTIVELY MEET THE FOUR DISCIPLINES OF STEM IN AN INTERDISCIPLINARY AND APPLIED APPROACH BY SHOWCASING VARIOUS ASPECTS OF ALGAE TECHNOLOGY AND REAL-WORLD EXAMPLES OF HOW ALGAE CREATE A MORE SUSTAINABLE PLANET.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt072547
IRS990/ProgSrvcAccomActyOtherGrp/Desc0SUMMER ALGAE SCIENCE INSTITUTE - TO PROVIDE A HANDS-ON PROFESSIONAL DEVELOPMENT TRAINING THAT INTRODUCES EDUCATORS TO THE ALGAE FOUNDATION'S K-12 ALGAE ACADEMY CURRICULUM.
IRS990/ProgSrvcAccomActyOtherGrp/Desc1ALGAE IN AGRICULTURE EDUCATION ALLIANCE - TO ENHANCE THE QUALITY OF SECONDARY SCHOOL INSTRUCTION TO HELP MEET THE CURRENT AND FUTURE NATIONAL FOOD AND AGRICULTURAL SCIENCE WORKPLACE NEEDS THROUGH THE CREATION AND IMPLEMENTATION OF NEW, HANDS-ON CURRICULUM THAT APPROACHES TRADITIONAL AGRICULTURAL TOPICS USING ALGAE AS THE VEHICLE FOR INNOVATION.
IRS990/ProgSrvcAccomActyOtherGrp/Desc2STUDENT TRAVEL GRANTS
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt020256
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt124510
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt275
IRS990/ProgSrvcAccomActyOtherGrp/GrantAmt075
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt020851
IRS990/ProgSrvcAccomActyOtherGrp/RevenueAmt124639
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0558657
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt0187
IRS990/PYOtherExpensesAmt0394380
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt080763
IRS990/PYSalariesCompEmpBnftPaidAmt083701
IRS990/PYTotalExpensesAmt0478081
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0558844
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt0229722
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt050158
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0496683
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0561817
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearAmt0983531
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus1YearAmt0558657
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0354883
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus3YearsAmt0463848
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt0421118
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt02782037
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt02594
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt0187
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt01497
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt04278
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00.99850
IRS990ScheduleA/PublicSupportPY170Pct01.00000
IRS990ScheduleA/PublicSupportTotal170Amt02782037
IRS990ScheduleA/ThirtyThrPctSuprtTestsCY170Ind0X
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt0983531
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0558657
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0354883
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt0463848
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt0421118
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt02782037
IRS990ScheduleA/TotalSupportAmt02786315
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
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0756403
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt05088
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0363
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt05451
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01197
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CREDIT CARD
IRS990ScheduleD/RevenueNotReportedAmt00
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt0986125
IRS990ScheduleD/TotalBookValueLandBuildingsAmt05088
IRS990ScheduleD/TotalExpensesPerForm990Amt0756403
IRS990ScheduleD/TotalLiabilityAmt01197
IRS990ScheduleD/TotalRevenuePerForm990Amt0986125
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt0986125
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0756403
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0162000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0IRA LEVINE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0BOARD CHAIR/PRESIDENT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0162000
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION PAID $162,000 FOR SERVICES RENDERED BY BIOLOGICAL SERVICES, INC. (BSI), A COMPANY EFFECTIVELY CONTROLLED BY THE FOUNDATION'S PRESIDENT AND BOARD OF DIRECTOR, IRA LEVINE. THIS INDEPENDENT CONTRACTOR AGREEMENT IS BETWEEN THE FOUNDATION AND BSI.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE J, COMPENSATION FROM UNRELATED ORGANIZATIONS
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt0BIOLOGICAL SERVICES INC (LEVINE)
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt1MARISSA M MARTINEZ-NALLEY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt2JAKOB NALLEY
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt3JESSE TRALLER OJEDA
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/BusinessName/BusinessNameLine1Txt4PHIL PIENKOS
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0CHAIRMAN/PRESIDENT
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt1SPOUSE
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt2DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt3DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt4DIRECTOR
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd00
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd10
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd20
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd30
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/SharingOfRevenuesInd40
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt0162000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt183462
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt213400
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt33780
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt42000
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0SERVICES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc1SERVICES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc2SERVICES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc3SERVICES
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc4SERVICES
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0IRA LEVINE, PRESIDENT AND CEO OF THE FOUNDATION, IS THE OWNER OF BIOLOGICAL SERVICES INC. THE FOUNDATION HAS ENTERED INTO AN INDEPENDENT CONTRACTOR AGREEMENT WITH BIOLOGICAL SERVICES INC. FOR PURPOSES OF MANAGING THE ATEC PROJECT AND PERFORMING CERTAIN SERVICES THAT THE FOUNDATION IS REQUIRED TO PERFORM UNDER ITS CONTRACT WITH THE NATIONAL RENEWABLE ENERGY LABORATORY. THIS CONTRACT REQUIRES IRA LEVINE TO SERVE AS THE PRINCIPAL INVESTIGATOR AND MANAGE THE PROJECT. THE FOUNDATION'S BOARD APPROVED THIS CONTRACT WITH BIOLOGICAL SERVICES, INC. AFTER BEING MADE AWARE OF IRA LEVINE'S FINANCIAL INTEREST PURSUANT TO THE FOUNDATION'S CONFLICT OF INTEREST POLICY AND AFTER A REVIEW OF THE HOURLY RATE BEING CHARGED, THE BOARD DETERMINED IT TO BE REASONABLE AND NOT EXCESSIVE. IRA LEVINE DID NOT PARTICIPATE IN THE BOARD'S DISCUSSION AND APPROVAL OF THIS AGREEMENT. THE AGREEMENT WAS DRAFTED BY LEGAL COUNSEL AT AN "ARM'S LENGTH" BASIS.THE FOUNDATION HAS ENTERED INTO EMPLOYMENT AGREEMENT WITH MARISSA NALLEY, WHO IS THE SPOUSE OF JAKOB NALLEY (ONE OF THE BOARD DIRECTORS), FOR PURPOSES OF MANAGING THE ALGAE ACADEMY PROJECT. THE FOUNDATION'S BOARD APPROVED THIS CONTRACT WITH MARISSA NALLY BEING AWARE OF MARISSA NALLEY'S RELATIONSHIP WITH JAKOB NALLEY , PURSUANT TO THE FOUNDATIONS CONFLICT OF INTEREST POLICY AND AFTER A REVIEW OF THE HOURLY RATE BEING CHARGED, THE BOARD DETERMINED IT TO BE REASONABLE AND NOT EXCESSIVE. JAKOB NALLEY DID NOT PARTICIPATE IN THE BOARD'S DISCUSSION AND APPROVAL OF THIS AGREEMENT. THE AGREEMENT WAS DRAFTED BY LEGAL COUNSEL AT AN "ARM'S LENGTH" BASIS.THE FOUNDATION HAS ENTERED INTO AN INDEPENDENT CONTRACTOR AGREEMENT (CONSULTING) WITH JAKOB NALLEY FOR PURPOSES OF PERFORMING CERTAIN SERVICES THAT THE FOUNDATION IS REQUIRED TO PERFORM UNDER ITS CONTRACT WITH THE NATIONAL RENEWABLE ENERGY LABORATORY. THE FOUNDATION'S BOARD APPROVED THIS CONTRACT WITH JAKOB NALLEY AND AFTER A REVIEW OF THE HOURLY RATE BEING CHARGED, THE BOARD DETERMINED IT TO BE REASONABLE AND NOT EXCESSIVE. JAKOB NALLEY DID NOT PARTICIPATE IN THE BOARD'S DISCUSSION AND APPROVAL OF THIS AGREEMENT. THE AGREEMENT WAS DRAFTED BY LEGAL COUNSEL AT AN "ARM'S LENGTH" BASIS. TOTAL AMOUNT PAID FOR THIS AGREEMENT IS $6,000. JAKOB NALLEY ALSO RECEIVED $650 IN COMPENSATION FROM THE FOUNDATION FOR SERVICES RENDERED UNDER THE SUMMER ALGAE SCIENCE INSTITUTE AWARD AND $6,750 IN COMPENSATION UNDER THE CULTIVATE AWARD.THE FOUNDATION HAS ENTERED INTO AN INDEPENDENT CONTRACTOR AGREEMENT (CONSULTING) WITH JESSE TRALLER OJEDA FOR PURPOSES OF PERFORMING CERTAIN SERVICES THAT THE FOUNDATION IS REQUIRED TO PERFORM UNDER ITS CONTRACT WITH THE NATIONAL RENEWABLE ENERGY LABORATORY. THE FOUNDATION'S BOARD APPROVED THIS CONTRACT WITH JESSE TRALLER OJEDA AND AFTER A REVIEW OF THE HOURLY RATE BEING CHARGED, THE BOARD DETERMINED IT TO BE REASONABLE AND NOT EXCESSIVE. JESSE TRALLER OJEDA DID NOT PARTICIPATE IN THE BOARD'S DISCUSSION AND APPROVAL OF THIS AGREEMENT. THE AGREEMENT WAS DRAFTED BY LEGAL COUNSEL AT AN "ARM'S LENGTH" BASIS. TOTAL AMOUNT PAID FOR THIS AGREEMENT IS $2,880. JESSE TRALLER OJEDA ALSO RECEIVED $900 IN COMPENSATION FROM THE FOUNDATION FOR SERVICES RENDERED UNDER THE SUMMER ALGAE SCIENCE INSTITUTE AWARD.THE FOUNDATION HAS ENTERED INTO AN INDEPENDENT CONTRACTOR AGREEMENT (CONSULTING) WITH PHIL PIENKOS FOR PURPOSES OF PERFORMING CERTAIN SERVICES THAT THE FOUNDATION IS REQUIRED TO PERFORM UNDER ITS CONTRACT WITH THE NATIONAL RENEWABLE ENERGY LABORATORY. THE FOUNDATION'S BOARD APPROVED THIS CONTRACT WITH PHIL PIENKOS AND AFTER A REVIEW OF THE HOURLY RATE BEING CHARGED, THE BOARD DETERMINED IT TO BE REASONABLE AND NOT EXCESSIVE. PHIL PIENKOS DID NOT PARTICIPATE IN THE BOARD'S DISCUSSION AND APPROVAL OF THIS AGREEMENT. THE AGREEMENT WAS DRAFTED BY LEGAL COUNSEL AT AN "ARM'S LENGTH" BASIS.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART IV
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IRA LEVINE (CHAIR) IS THE OWNER OF BIOLOGICAL SERVICES INC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE BOARD APPROVED A RESTATEMENT TO THE BYLAWS ON DECEMBER 19, 2022 AND IT BECAME EFFECTIVE ON JANUARY 1, 2023. A MINOR AMENDMENT TO THOSE RESTATED BYLAWS WAS SUBSEQUENTLY PASSED AND EFFECTIVE AS OF JANUARY 30, 2023.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION'S PROCESS TO REVIEW FORM 990 THE COMPLETE FORM 990 IS PREPARED BY THE TREASURER AND REVIEWED BY THE CHAIR AND VICE CHAIR OF THE BOARD, BOARD OF DIRECTORS (FOR REVIEW AND COMMENT) AND LEGAL COUNSEL.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3ENFORCEMENT OF CONFLICTS POLICY ALL BOARD MEMBERS SIGN A CONFLICT OF INTEREST STATEMENT BEFORE JOINING THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4COMPENSATION PROCESS FOR TOP OFFICIAL THE PROCESS FOR DETERMINING COMPENSATION OF DR. IKE LEVINE IN CONNECTION WITH THE HOURLY RATE BEING PAID TO BIOLOGICAL SERVICES, INC. UNDER THE INDEPENDENT CONTRACTOR AGREEMENT INVOLVING MANAGEMENT OF THE ATEC PROGRAM INVOLVED A REVIEW OF COMPARABILITY DATA AND CONTEMPORANEOUS SUBSTANTIATION OF THE DISINTERESTED DIRECTORS' DELIBERATION AND DECISION ON THE MATTER. ON COMPARABILITY DATA, THE BOARD REVIEWED EMAILS FROM THE DEPARTMENT OF ENERGY REGARDING SIMILAR PROGRAMS AND HOURLY AMOUNTS PAID TO PROJECT MANAGERS UNDER THOSE PROGRAMS. THE HOURLY RATE BEING CHARGED BY THOSE PROGRAM MANAGERS WAS COMPARABLE TO OR HIGHER THAN THE AMOUNT BSI RECEIVED UNDER THE INDEPENDENT CONTRACTOR AGREEMENT. OTHER CONSULTING AGREEMENTS WITHIN THE ALGAE INDUSTRY WERE ALSO REVIEWED, AND THE HOURLY RATE THAT THE FOUNDATION WAS BEING CHARGED BY BSI WAS SUBSTANTIALLY LESS THAN UNDER THE OTHER CONSULTING AGREEMENTS. THESE INVESTIGATIONS SUGGESTED THAT THE HOURLY RATE BEING CHANGED BY BSI TO THE FOUNDATION WAS AT OR BELOW MARKET RATES AND THAT THE RATE BEING CHARGED WAS FAIR. THE ALGAE FOUNDATION'S CONFLICT OF INTEREST POLICY WAS ALSO FOLLOWED. DR. LEVINE DID NOT PARTICIPATE IN THE DECISION OR DISCUSSION WITH RESPECT TO APPROVAL OF THE INDEPENDENT CONTRACTOR AGREEMENT WITH BSI.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS DISCLOSURE EXPLANATION THE ARTICLES OF INCORPORATION ARE PUBLICLY AVAILABLE FROM THE SECRETARY OF THE STATE OFWASHINGTON. THE ARTICLES, BY-LAWS AND CONFLICT OF INTEREST ARE AVAILABLE TO MEMBERS ON THE WEB SITE AND THE GENERAL PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CASH TO ACCRUAL ADJUSTMENT -19,570.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THERE WAS NO CHANGE DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 12C

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