Plastic Ocean Project Inc
EIN: 461251038 · Wilmington, NC · NTEE: U05
| Metric | Value |
|---|---|
| Total Revenue | $238K |
| Total Expenses | $248K |
| Net Assets | $129K |
Is Plastic Ocean Project Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Plastic Ocean Project Inc
Plastic Ocean Project Inc (EIN: 461251038) is a nonprofit organization based in Wilmington, NC, classified under NTEE code U05. The organization reported total revenue of $238K and total assets of $191K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Plastic Ocean Project Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Plastic Ocean Project Inc is a small nonprofit that has been operating for 12 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 42.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $271K |
| Total Expenses | $248K |
| Surplus / Deficit | +$22K |
| Total Assets | $195K |
| Total Liabilities | $66K |
| Net Assets | $129K |
| Operating Margin | 8.2% |
| Debt-to-Asset Ratio | 33.8% |
| Months of Reserves | 9.4 months |
Financial Health Grade: A
In 2023, Plastic Ocean Project Inc reported a surplus of $22K with revenue exceeding expenses, holds 9.4 months of operating reserves (strong position), has a debt-to-asset ratio of 33.8% (moderate leverage).
Financial Trends
Over 10 years of filings (2014–2023), Plastic Ocean Project Inc's revenue has grown at a compound annual growth rate (CAGR) of 42.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +38.3% | +29.1% | +14.7% |
| 2022 | +29.5% | +16.0% | -3.7% |
| 2021 | +40.9% | +114.4% | -30.2% |
| 2020 | +5.7% | +2.8% | +185.5% |
| 2019 | +26.5% | +75.5% | +41.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Plastic Ocean Project Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Plastic Ocean Project Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $22K, with revenue exceeding expenses.
- Debt-to-asset ratio: 33.8%.
Frequently Asked Questions about Plastic Ocean Project Inc
Is Plastic Ocean Project Inc a legitimate charity?
Plastic Ocean Project Inc (EIN: 461251038) is a registered tax-exempt nonprofit based in North Carolina. It has 10 years of IRS 990 filings on record. Total revenue: $238K. No red flags identified. Financial health grade: A.
How does Plastic Ocean Project Inc spend its money?
Plastic Ocean Project Inc reported $238K in total revenue in IRS 990 filings. 10 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Plastic Ocean Project Inc tax-deductible?
Plastic Ocean Project Inc is registered as a tax-exempt nonprofit (EIN: 461251038). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Plastic Ocean Project Inc located?
Plastic Ocean Project Inc is headquartered in Wilmington, North Carolina and files with the IRS under EIN 461251038. It is classified under NTEE code U05.
How many years of IRS 990 filings does Plastic Ocean Project Inc have?
Plastic Ocean Project Inc has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $238K in total revenue.
Filing History
IRS 990 filing history for Plastic Ocean Project Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Plastic Ocean Project Inc's revenue has grown by 2276.9%, moving from $11K to $271K. Total assets increased by 2134.3% over the same period, from $9K to $195K. Total functional expenses rose by 2111.4%, from $11K to $248K. In its most recent filing year (2023), Plastic Ocean Project Inc reported a surplus of $22K, with revenue exceeding expenses. The organization holds $66K in liabilities against $195K in assets (debt-to-asset ratio: 33.8%), resulting in net assets of $129K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $271K | $248K | $195K | $66K | — | — |
| 2022 | $196K | $192K | $170K | $63K | — | View 990 |
| 2021 | $151K | $166K | $177K | $73K | — | View 990 |
| 2020 | $107K | $77K | $253K | $135K | — | View 990 |
| 2019 | $101K | $75K | $89K | $0 | — | View 990 |
| 2018 | $80K | $43K | $63K | $0 | — | View 990 |
| 2017 | $95K | $83K | $25K | $0 | — | View 990 |
| 2016 | $43K | $39K | $13K | $0 | — | View 990 |
| 2015 | $13K | $12K | $10K | $0 | — | View 990 |
| 2014 | $11K | $11K | $9K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $271K, expenses of $248K, and assets of $195K (revenue +38.3% year-over-year).
- 2022: Revenue of $196K, expenses of $192K, and assets of $170K (revenue +29.5% year-over-year).
- 2021: Revenue of $151K, expenses of $166K, and assets of $177K (revenue +40.9% year-over-year).
- 2020: Revenue of $107K, expenses of $77K, and assets of $253K (revenue +5.7% year-over-year).
- 2019: Revenue of $101K, expenses of $75K, and assets of $89K (revenue +26.5% year-over-year).
- 2018: Revenue of $80K, expenses of $43K, and assets of $63K (revenue -15.7% year-over-year).
- 2017: Revenue of $95K, expenses of $83K, and assets of $25K (revenue +121.7% year-over-year).
- 2016: Revenue of $43K, expenses of $39K, and assets of $13K (revenue +241.9% year-over-year).
- 2015: Revenue of $13K, expenses of $12K, and assets of $10K (revenue +10.3% year-over-year).
- 2014: Revenue of $11K, expenses of $11K, and assets of $9K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Plastic Ocean Project Inc:
Data Sources and Methodology
This transparency report for Plastic Ocean Project Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.