OCEAN INSTITUTE (EIN 330203488) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1986

Legal Domicile

Principal Officer

WENDY LEAVELL

Phone

9494962274

Tax Period

2023-01-01 to 2023-12-31

OCEAN INSTITUTE, founded in 1986, is a community nonprofit in the Religion sector that reported $4.2M in total revenue in fiscal year 2023. Expenses of $5.2M exceeded revenue, resulting in a 24% operating deficit.

Mission

THE OCEAN INSTITUTE PROVIDES EXPERIENTIAL EDUCATIONAL PROGRAMMING TO SCHOOLS, YOUTH GROUPS, AND THE PUBLIC TO DEVELOP KNOWLEDGE ABOUT THE OCEAN AND MARITIME HISTORY. WE EMBODY OUR MOTTO, "EXPERIENCE IS THE TEACHER" THROUGH FIELD TRIPS, SUMMER CAMP PROGRAMS, PUBLIC CRUISES AND EXHIBITS, SPECIAL EVENTS AND SPEAKERS, AND GUIDED TOURS ON AND AROUND OUR OCEANFRONT CAMPUS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,323,269

Program Service Revenue $1,886,407

Investment Income $37,807

Other Revenue $-69,925

TOTAL REVENUE $4,177,558

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,439,339

Fundraising Expenses $387,391

Program Expenses $3,967,254

Other Expenses $2,757,462

TOTAL EXPENSES $5,196,801

Year-over-Year Comparison

	2023	2022	Change
Revenue	$4,177,558	$4,036,794	+0.0%
Expenses	$5,196,801	$4,417,606	+0.2%
Net Income	$-1,019,243	$-380,812	+1.7%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

107

Volunteers

2629

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$294,010

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
VIPE DESAI	CHAIRMAN	1.00	Officer Director	$0	$0	$0
STEVE HARRIS	VICE CHAIR	1.00	Officer Director	$0	$0	$0
JIM PHILLIPS	TREASURER	1.00	Officer Director	$0	$0	$0
JEANNINE SMITH	SECRETARY	1.00	Officer Director	$0	$0	$0
JENNA KOHNKE GAFFNEY	DIRECTOR	1.00	Director	$0	$0	$0
VIC HAUSMANINGER	DIRECTOR	1.00	Director	$0	$0	$0
DOUG CICIONE	DIRECTOR	1.00	Director	$0	$0	$0
COLLIE JAMES IV	DIRECTOR	1.00	Director	$0	$0	$0
MIKE KILLEBREW	DIRECTOR	1.00	Director	$0	$0	$0
TODD LARSON	DIRECTOR	1.00	Director	$0	$0	$0
KEN PETERSON	DIRECTOR	1.00	Director	$0	$0	$0
BRIAN SKELTON	DIRECTOR	1.00	Director	$0	$0	$0
CHARLIE STEINMETZ	DIRECTOR	1.00	Director	$0	$0	$0
KELLY STEWARD	DIRECTOR	1.00	Director	$0	$0	$0
JILL TRACY	DIRECTOR	1.00	Director	$0	$0	$0
TOM TURNER	DIRECTOR	1.00	Director	$0	$0	$0
KERSTIN WOODS V	DIRECTOR	1.00	Director	$0	$0	$0
LYNDA ZADRA-SYMES	DIRECTOR	1.00	Director	$0	$0	$0
MIKE FROST	GOVERNMENT REPRESENTATIVE	1.00	Director	$0	$0	$0
KATRINA FOLEY	GOVERNMENT REPRESENTATIVE	1.00	Director	$0	$0	$0
JUAN GONZALEZ	ALTERNATIVE	1.00	Director	$0	$0	$0
WENDY LEAVELL	PRESIDENT & CEO	40.00	Officer	$271,147	$22,863	$294,010

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	No data	No data	No data	No data
2024	No data	No data	No data	No data
2023	$4,177,558	$5,196,801	$14,136,699	$-1,019,243
2022	$4,036,794	$4,417,606	$14,909,007	$-380,812
2021	$4,927,903	$3,455,834	$15,364,958	$1,472,069
2020	$4,080,915	$3,931,999	$14,165,458	$148,916
2019	$5,350,910	$6,636,345	$14,437,038	$-1,285,435
2018	$6,339,185	$6,828,673	$15,349,184	$-489,488

OCEAN INSTITUTE