Oceana Inc.

“Information for the federal form 990 comes largely from oceana's independently audited financial statements, which consolidates oceana's activities across national boundaries. The accounting department collects this and other information needed for the federal form 990, which is reviewed and presented in draft form by a tax accounting firm. After approval by senior management, the final draft of the 990 is presented to the board for review before it is submitted to the internal revenue service.”

“Every year, oceana's officers, directors, and key employees fill out a disclosure report asking them to disclose any family or business relationships they may have with other oceana officers, directors, or key employees, as well as any financial conflicts of interest they may have. In addition, oceana's conflict of interest policy requires any director or officer who is an interested person with respect to a transaction or arrangement under consideration by the corporation to promptly disclose to the board of directors or the board's designate the existence and nature of his or her financial interest in the transaction or arrangement. If the corporation is considering entering into a transaction or arrangement in which an interested person has a financial interest, the board of directors appoints a committee or subcommittee to review the transaction or arrangement. No interested person with respect to the transaction or arrangement under review will be a member of this committee or subcommittee or otherwise participate in its deliberations, except to furnish such factual information as the committee may request. If the committee finds that an interested person has a conflict of interest with respect to a proposed transaction or arrangement, the committee will obtain reliable information about the terms of comparable transactions or arrangements that are reasonably available to the corporation from unrelated parties free of any conflicts of interest. After reviewing this comparability information, the committee will determine by majority vote whether the proposed transaction or arrangement is fair and reasonable to the corporation and whether it would be in the corporation's best interest to enter into it on the terms proposed. If the board of directors learns that a director or officer has failed to disclose a financial interest as required by this policy, it will inform the individual and afford an opportunity for the individual to explain the alleged failure to disclose. After hearing the individual's response, the board will take appropriate action if any action is needed. As for the staff, oceana's employee manual states its conflict of interest policy enforcement rules. Employees must disclose any actual, potential, or apparent conflict of interest to the general counsel. Where appropriate, the general counsel may require suitable remedial action, such as divestiture of adverse interests, recusal from certain decisions, or other action to avoid an appearance or existence of a conflict. These reports are reviewed each year by the board's finance and audit committee.”

“Oceana's process for determining compensation of its ceo, officers, and key employees is as follows: oceana provides the finance and audit committee of the board of directors with data from multiple sources on comparable salaries in other nonprofit organizations, especially but not limited to those in the conservation field, for oceana's ceo, top management, officers, and key employees. The committee reviews these data to determine if the compensation is reasonable and that oceana has not engaged in an excess benefit transaction with any individual in a position to substantially influence the organization's affairs. The discussions are documented in the minutes.”

“Oceana posts annual reports, its audited financial statements, and the public disclosure copy of its irs form 990 on its website, www.oceana.org. It also shares relevant information with independent "watchdog organizations such as guidestar, charity navigator and the better business bureau to allow these organizations independent assessment of oceana's accountability and transparency. Oceana's articles of incorporation, by-laws and form 1023 are available on oceana's website and to members of the public upon written request. Oceana's articles of incorporation, as well as a certificate of good standing, are also independently available through the department of consumer and regulatory affairs for the district of columbia (where oceana, inc. Is incorporated), though there is a fee for this service.”

“Other consulting: program service expenses 1,546,351. Management and general expenses 266,918. Fundraising expenses 255,666. Total expenses 2,068,935. Recruitment: program service expenses 363,566. Management and general expenses 1,999. Fundraising expenses 2,066. Total expenses 367,631. Audio and visual: program service expenses 195,107. Management and general expenses 0. Fundraising expenses 229. Total expenses 195,336. Training and development: program service expenses 31,341. Management and general expenses 24,527. Fundraising expenses 2,094. Total expenses 57,962.”

“This return presents consolidated financial statements for oceana, inc. And its non-u.s. Affiliates. Oceana has field offices in spain, brazil, denmark, belgium, philippines, belize and chile for the purpose of building an international movement to save the oceans through public policy advocacy, science and economics, legal action, grassroots mobilization, and public education. The operations in spain, belize, brazil, philippines and the united kingdom follow the host country's regulations and, as a result, were incorporated as independent entities. However, these entities are dependent on oceana for funding, participate in oceana activities and decision-making, and carry out the general mission and international activities of oceana.”