Oceantic Network
Oceantic Network reported $11.9 million in revenue and $10.1 million in expenses for calendar year 2024. Of every $100 it spent, $70.52 went to program services, $29.48 to management and general costs and $0.00 to fundraising. Its largest source of revenue was program service revenue such as fees, sales and contracts: 87.9% of the total. Government grants made up 10.0%. The highest compensation it reported for one person was $326,503 (EXECUTIVE DI). 11 people received more than $100,000 in reportable compensation. Revenue rose 419% between FY2020 and 2024. Source: Form 990, 2024.
Where $100 of spending went
Calendar year 2024 · Form 990, Part IX, line 25 · total expenses $10MFor context, the median across 371 covered environment charities: $85.82 programs, $10.80 management, $3.38 fundraising (medians computed separately, so they may not sum to $100).
Where $100 of revenue came from
Calendar year 2024 · Form 990, Part VIII · total revenue $12MThe 990 scorecard · same measures for every charity, no grades
| Measure | 2024 | Median |
|---|---|---|
| Program services Part IX 25(B) ÷ 25(A) | 70.5% | 83.6% |
| Management & general Part IX 25(C) ÷ 25(A) | 29.5% | 10.5% |
| Fundraising Part IX 25(D) ÷ 25(A) | 0.0% | 3.3% |
| Fundraising cost per $1 of contributions Part IX 25(D) ÷ Part VIII 1h | $0.00 | $0.03 |
| Contributions & grants share of revenue Part VIII 1h ÷ 12 | 10.2% | 87.6% |
| Government grants share of revenue Part VIII 1e ÷ 12 | 10.0% | 4.8% |
| Program service revenue share Part VIII 2g ÷ 12 | 87.9% | 3.2% |
| Highest reported compensation Part VII-A, columns D–F | $326,503 | $293,532 |
| Highest compensation as share of expenses Part VII-A ÷ Part IX 25(A) | 3.24% | 1.74% |
| People paid over $100,000 Part VII, line 2 | 11 | 7 |
| Net assets, in months of expenses Part X 33(B) ÷ monthly expenses | 10.5 | 18.8 |
| Independent voting board members Part VI 1a–1b | 20 of 21 | 100.0% |
A median is context, not a target: hospitals, universities, food banks and grantmakers spend in very different ways. What these measures can and can't tell you.
What the money paid for, in its own words
2024 · Form 990, Part III · the three largest programs by expenseThe organization's goal is for the united states to have a strong offshore wind supply chain that has a leading role in the evolving global offshore wind industry. The organization facilitates networking opportunities alongside its educational initiatives and with smaller educational and networking events. The size and complexity of offshore wind projects creates opportunities for many industries. By collaborating across industry sectors, businesses are able to offer a wider range of products and services in one location. Through collaboration, businesses are able to become more competitive…
Oceantic Network, inc. Is using its educational initiatives: international educational tours, exchanges with international governments, webinars, annual meetings and its annual international partnering forum to educate on the topic of offshore wind. The organization brings together top developers, policymakers, global experts, and local member businesses in structured settings to provide technical training and expertise. Its goal is to educate and to advance the development of the offshore wind industry and create a competitive united states supply chain
The organization conducts studies and supports research to advance the development of offshore wind and marine offshore renewable energy. In conjunction with maryland community colleges, the organization has surveyed the education and training needs of maryland workers to accommodate a developing offshore wind industry. The organization has facilitated and participated in work force development grants based on the results of these surveys. As the development of offshore wind progresses, the network may support research of a more scientific nature, including research examining the impact of…
Highest reported compensation
2024 · Form 990, Part VII, Section A · roles as filed; names are in the filing, not here| Role | From this org | From related orgs | Other | Total |
|---|---|---|---|---|
| EXECUTIVE DI Director/trustee, officer, 40.00 hrs/week | $324,812 | $0 | $1,691 | $326,503 |
| CHIEF DEV. O Highest compensated employee, 40.00 hrs/week | $155,424 | $0 | $5,497 | $160,921 |
| VP OF EVENTS Highest compensated employee, 40.00 hrs/week | $144,279 | $0 | $9,217 | $153,496 |
| VP OF FINANC Highest compensated employee, 40.00 hrs/week | $131,130 | $0 | $6,003 | $137,133 |
| SENIOR VP OF Highest compensated employee, 40.00 hrs/week | $129,222 | $0 | $4,694 | $133,916 |
| VP SUPPLY CH Highest compensated employee, 40.00 hrs/week | $126,788 | $0 | $0 | $126,788 |
11 people received more than $100,000 in reportable compensation from Oceantic Network (Part VII, line 2). Compensation of current officers, directors and key employees totaled $325K (Part IX, line 5).
6 filings since FY2020
Form 990, Parts I, VII, IX and X · each row is that year's own filing, linkedGovernance answers, as filed
2024 · the organization's own yes/no answers; explanations, if any, are in Schedule O of the filing · what each means- Voting board members, and how many are independent Part VI, lines 1a–1b21 · 20 independent
- Audited financial statements Part XII 2bYes
- Conflict-of-interest policy Part VI 12aYes
- Whistleblower policy Part VI 13No
- Document retention policy Part VI 14No
- Independent process for top executive pay Part VI 15aNo
- Board given the 990 before filing Part VI 11aNo
- Family or business ties among insiders Part VI 2No
- Aware of a significant diversion of assets Part VI 5No
- Excess benefit transaction with an insider Part IV 25aNo
- Loans to or from insiders outstanding Part IV 26No
- Lobbying, or a 501(h) election in effect Part IV 4Yes
- Over $15,000 of professional fundraising services Part IV 18No
- Over $10,000 of activity outside the U.S. Part IV 14bNo
- Employees Part I, line 556
Largest outside contractors
2024 · Form 990, Part VII, Section B · businesses only| EVENT EQ Event logistic | $376,488 |
Individuals listed as contractors are left out. 1 contractors were paid more than $100,000 in all.
Correct a figure or respond
Every number above is copied from Oceantic Network's own Form 990. If one doesn't match the filing, that's our error and we'll fix it. If you work for Oceantic Network, you can publish a response that is linked from this page.
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Of every $100 Oceantic Network spent in 2024, $70.52 went to programs. The full breakdown, from its IRS Form 990:
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Questions people ask
How much of Oceantic Network's spending goes to programs?
In calendar year 2024, Oceantic Network reported that 70.5% of its $10.1 million in expenses went to program services, 29.5% to management and general and 0.0% to fundraising (Form 990, Part IX).
How much does Oceantic Network pay its top executive?
The largest total compensation Oceantic Network reported for one person in calendar year 2024 was $326,503, for the role of EXECUTIVE DI (Form 990, Part VII, including compensation from related organizations and other compensation).
Where does Oceantic Network get its money?
Of $11.9 million in revenue in calendar year 2024, 10.2% came from contributions and grants (including 10.0% from government grants) and 87.9% from program service revenue (Form 990, Part VIII).
Is Oceantic Network a registered charity?
The IRS lists EIN 46-3553839 as a 501(c)(3) organization (publicly supported organization (170(b)(1)(a)(vi))), and its records show contributions as tax-deductible. Form 990 filings on record here cover tax years 2019, 2020, 2021, 2022, 2023, 2024. A filing shows what the organization reported; it doesn't by itself show whether a program works.
Sources
- 2024: Form 990 for calendar year 2024, object 202513189349310136 · read the filing · XML
- 2023: Form 990 for calendar year 2023, object 202422539349300042 · read the filing
- FY2022 (6 mo.): Form 990 for the 6-month short period ending December 31, 2022, object 202440669349301574 · read the filing
- FY2022: Form 990 for the fiscal year ending June 30, 2022, object 202300889349300540 · read the filing
- FY2021: Form 990 for the fiscal year ending June 30, 2021, object 202201019349301130 · read the filing
- FY2020: Form 990 for the fiscal year ending June 30, 2020, object 202121349349304437 · read the filing
All filings for EIN 46-3553839: ProPublica Nonprofit Explorer · IRS Tax Exempt Organization Search. Figures are as the organization reported them; we have not audited them.