OCEANTIC NETWORK INC (EIN 463553839) - 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

2013

Legal Domicile

Principal Officer

ELIZABETH BURDOCK

Phone

4436523242

Tax Period

2023-01-01 to 2023-12-31

OCEANTIC NETWORK INC, founded in 2013, is a mid-sized nonprofit in the Environment sector that reported $13.3M in total revenue in fiscal year 2023. Revenue surged 555% from the prior year, signaling strong growth momentum. The organization ran a surplus of $2.1M, a strong 16% operating margin.

Mission

TO EXPAND PUBLIC AND PRIVATE SECTOR KNOWLEDGE, EXPERTISE AND CONTRACTS FOR THE OFFSHORE WIND INDUSTRY.

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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 $774,248

Program Service Revenue $12,502,916

Investment Income $33,958

Other Revenue $-1,633

TOTAL REVENUE $13,309,489

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,403,248

Fundraising Expenses $0

Program Expenses $8,212,261

Other Expenses $6,821,480

TOTAL EXPENSES $11,224,728

Year-over-Year Comparison

	2023	2022	Change
Revenue	$13,309,489	$2,033,141	+5.5%
Expenses	$11,224,728	$3,369,625	+2.3%
Net Income	$2,084,761	$-1,336,484	-2.6%

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

Volunteers

N/A

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

$429,543

Total Directors

$429,543

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BELTON ZEIGLER	PARTNER	2.00	Director	$0	$0	$0
CINDY TRUITT	CHIEF EXEC.	4.00	Director	$0	$0	$0
CLARKE BRUNO	CHIEF EXEC.	10.00	Director	$0	$0	$0
EMMANUEL MARTIN-LAUZER	DIRECTOR	8.00	Director	$0	$0	$0
JAN KLAASSEN	DIRECTOR	15.00	Director	$0	$0	$0
JAY BORKLAND	BOARD CHAIR	25.00	Officer Director	$0	$0	$0
JOE TIRONE	SECRETARY	25.00	Officer Director	$0	$0	$0
JOEL WHITMAN	DIRECTOR	25.00	Director	$0	$0	$0
KATERINA ENNERFELT	DIRECTOR	2.00	Director	$0	$0	$0
MARK MITCHELL	DIRECTOR	2.00	Director	$0	$0	$0
NAT SPENCER	TREASURER	25.00	Officer Director	$0	$0	$0
TEAERA STRUM	DIRECTOR	25.00	Director	$0	$0	$0
TIM FISCHER	DIRECTOR	12.00	Director	$0	$0	$0
TONY APPLETON	DIRECTOR	16.00	Director	$0	$0	$0
ZACH SKELTON	DIRECTOR	4.00	Director	$0	$0	$0
BRIAN SABINA	SENIOR VP	4.00	Director	$0	$0	$0
AARON SMITH	CHIEF OFFICE	4.00	Director	$0	$0	$0
KEVIN PEARCE	DIRECTOR	4.00	Director	$0	$0	$0
MARK RICE	DIRECTOR	4.00	Director	$0	$0	$0
DON HAIRSTON	DIRECTOR	4.00	Director	$0	$0	$0
ELIZABETH BURDOCK	EXECUTIVE DI	40.00	Officer Director	$429,543	$0	$429,543
TODD SHILOW	VP OF FINANC	40.00	Highest	$121,252	$0	$121,252
DENIELLE CHRISTENSEN	VP BUSINESS	40.00	Highest	$120,406	$0	$120,406
ROSS GOULD	VP SUPPLY CH	40.00	Highest	$123,266	$0	$123,266
MARYANNE JEFFERSON	VP P'SHIP &	40.00	Highest	$120,129	$0	$120,129
ELIZABETH TREY	VP OF EVENTS	40.00	Highest	$120,202	$0	$120,202

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
2024	No data	No data	No data	No data
2023	$13,309,489	$11,224,728	$10,152,192	$2,084,761
2022	$11,516,807	$7,194,443	$8,195,711	$4,322,364
2022	$2,033,141	$3,369,625	$9,159,585	$-1,336,484
2021	$2,995,834	$2,841,243	$3,461,113	$154,591
2020	$2,284,431	$2,291,797	$2,542,835	$-7,366
2019	$3,036,228	$2,531,996	$1,970,421	$504,232
2018	$1,921,544	$1,333,371	$1,463,013	$588,173

OCEANTIC NETWORK INC