RENEW OCEANS INC

EIN: 832435458 501(c)(3)

BROOKLYN, NY

Total Revenue
$7,461
Total Expenses
$1,810,553
Total Assets
$3,195,511
Net Assets
$3,176,351
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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
2018
Legal Domicile
UT
Principal Officer
WHITNEY MASULIS
Phone
2152664237
Tax Period
2019-04-01 to 2020-03-31

RENEW OCEANS INC, founded in 2018, is a micro nonprofit that reported $7K in total revenue in fiscal year 2019. Revenue fell 100% from the prior year — a significant decline worth monitoring. Expenses of $1.8M exceeded revenue, resulting in a 24167% operating deficit.

Mission

RENEW OCEANS, INC. WORKS TO REDUCE OCEAN PLASTIC POLLUTION WHERE IT BEGINS-IN POPULOUS RIVER-ADJACENT COMMUNITIES IN THE DEVELOPING WORLD. RENEW OCEANS WORKS TO DIVERT SIGNIFICANT AMOUNTS OF OCEAN-BOUND PLASTIC WASTE FROM POLLUTED RIVERS AND THEIR TRIBUTARY SYSTEMS BY INCREASING RECOVERY AND RECYCLING THROUGH INFRASTRUCTURE DEVELOPMENT FOR WASTE COLLECTION AND MANAGEMENT, INNOVATION TO MAKE COLLECTION EASIER AND CREATE VALUE FROM ALL POST-USE PLASTICS, AND ENGAGEMENT OF LOCAL COMMUNITIES TO MOBILIZE ACTION.

Program Service Accomplishments

Program 1
Expenses: $1,547,743

RENEW OCEANS WORKS TO DIVERT SIGNIFICANT AMOUNTS OF OCEAN-BOUND PLASTIC WASTE FROM POLLUTED RIVERS AND THEIR TRIBUTARY SYSTEMS BY INCREASING RECOVERY AND RECYCLING THROUGH INFRASTRUCTURE DEVELOPMENT...

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RENEW OCEANS WORKS TO DIVERT SIGNIFICANT AMOUNTS OF OCEAN-BOUND PLASTIC WASTE FROM POLLUTED RIVERS AND THEIR TRIBUTARY SYSTEMS BY INCREASING RECOVERY AND RECYCLING THROUGH INFRASTRUCTURE DEVELOPMENT FOR WASTE COLLECTION AND MANAGEMENT, INNOVATION TO MAKE COLLECTION EASIER AND CREATE VALUE FROM ALL POST-USE PLASTICS, AND ENGAGEMENT OF LOCAL COMMUNITIES TO MOBILIZE ACTION.

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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%)

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Financial Overview (2019)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $7,461
Other Revenue $0
TOTAL REVENUE $7,461

Expense Breakdown

Grants Paid $0
Salaries & Benefits $156,977
Fundraising Expenses $106,934
Program Expenses $1,547,743
Other Expenses $1,653,576
TOTAL EXPENSES $1,810,553

Year-over-Year Comparison

2019 2018 Change
Revenue $7,461 $5,000,000 -1.0%
Expenses $1,810,553 $20,557 +87.1%
Net Income $-1,803,092 $4,979,443 -1.4%
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

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Governance

Voting Members
4
Independent Members
3
Employees
1
Volunteers
5

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
4
$77,308
Total Directors
5
$77,308
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
SUMEET BHATTI BODINGTON PRESIDENT TIL AUG19; CDO BEGAN JUL19 0.50
Officer Director
$77,308 $0 $77,308
WHITNEY BRAUNSTEIN MASULIS V.P. TIL AUG19;PRESIDENT BEGAN AUG19 0.50
Officer Director
$0 $0 $0
MIN ZHANG SECRETARY/TREASURER 0.50
Officer Director
$0 $0 $0
PRIYANKA BAKAYA DIRECTOR 0.50
Director
$0 $0 $0
KANAKA PATTABIRAMAN VICE PRESIDENT BEGAN AUG 2019 0.50
Officer Director
$0 $0 $0
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
2020 $7,461 $1,810,553 $3,195,511 $-1,803,092
2020 $303,111 $3,479,462 No data $-3,176,351
2019 $5,000,000 $20,557 $4,990,488 $4,979,443
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