Blue Ocean Inc
- Assets
- $6.6m
- Revenue
- $9.7k
- Investments
- $1.1m
- Employees
- 1
- Location
- Germantown, MD
- Founding
- 11/2007
- Data as of
- 06/2021
- EIN
- 20-4360719
Organization Overview
Blue Ocean Inc is located in Germantown, MD. The organization was established in 2007. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blue Ocean Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Blue Ocean Inc generated $9.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (62.5%) each year. All expenses for the organization totaled $266.9k during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Blue Ocean Inc has awarded 51 individual grants totaling $796,212. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
BLUE OCEAN KOREA SOUTH KOREA - BLUE OCEAN IS HELPING SEVERAL ORGANIZATIONS IN KOREA. WE NEED TO OVERVIEW THE ACTIVITES OF THESE ORGANIZATION. BLUE OCEAN HIRED A MANAGER IN KOREA FOR THIS PURPOSES
GRACE HOME ORPHANAGE THAILAND - SUPPORT CHIANGMAI GRACE HOME ORPHANAGE / REST & RESTORATION CENTER
CHILDREN OF LIGHT TO SUPPORT HIV/AIDS PREVENTION EDUCATION PROGRAM IN CAMBODIA. ABOUT 1000 PEOPLE HAVE BEEN EDUCATED./ SUPPORT KINDERGARTEN FOR CHILDREN EDUCATION
MARU CULTURE CENTER SUPPORT FOR EMPOWERING WOMEN IN POVERTY / COVID-19 RESPONSE PROJECT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hyun Joo Lee Public Relat | 0 | $10,710 | |
Kwan Hee Lee President | 0 | $0 | |
Seoung Chul Park Secretary | 0 | $0 | |
Ho June Lee Evp & Strate | 0 | $0 | |
Hey Ran Lee Dir Of Admin | 0 | $0 | |
Miyoung Ju Lee Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $3,438 |
| Dividends & Interest | $0 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $6,300 |
| Total Revenue | $9,738 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $10,710 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $6,954 |
| Depreciation | $15,605 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $606 |
| Other expenses | $3,054 |
| Total operating and administrative expenses | $42,334 |
| Contributions, gifts, grants paid | $224,550 |
| Total expenses and disbursements | $266,884 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,471 |
| Savings and temporary cash investments | $4,188,083 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,130,000 |
| Net Land, buildings, and equipment | $1,110,800 |
| Other assets | $425 |
| Total assets | $6,586,779 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Blue Ocean Inc has awarded $224,550 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
BLUE OCEAN KOREA PURPOSE: SUPPORT | $60,000 |
GRACE HOME PURPOSE: SUPPORT GRACE HOME ORPHANAGE | $33,250 |
CHILDREN OF LIGHT PURPOSE: CHILDREN EDUCATION & AIDS PREVENTION | $33,000 |
DONGAN CHURCH PURPOSE: SUPPORT BALI VACATIONAL SCHOOL | $30,000 |
MARU CULTURE CENTER PURPOSE: SUPPORT FOR EMPOWERING WOMAN | $30,000 |
DALAT INTERNATIONAL SCHOOL PURPOSE: SCHOLARSHIP | $11,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Operation Blessing International Relief & Development Corp Virginia Beach, VA | $46,516,514 | $96,480,836 |
World Relief Corp Of National Association Of Evangelicals Baltimore, MD | $37,205,019 | $88,134,638 |
World Central Kitchen Incorporated Washington, DC | $115,400,907 | $122,852,447 |
Relief International Inc Washington, DC | $18,093,145 | $70,140,451 |
Blumont Global Development Inc Arlington, VA | $10,315,810 | $52,380,007 |
Halo Trust Usa Inc Washington, DC | $9,736,478 | $47,613,594 |
Results For Development Institute Inc Washington, DC | $16,759,449 | $40,353,687 |
Lutheran World Relief Inc Baltimore, MD | $72,287,667 | $69,634,457 |
Christian Relief Services Charities Inc Alexandria, VA | $4,032,952 | $38,457,221 |
International Orthodox Christian Charities Inc Baltimore, MD | $21,145,773 | $37,778,660 |
United Palestinian Appeal Inc Washington, DC | $6,253,375 | $30,902,975 |
Christian Relief Services Charities Inc Alexandria, VA | $1,058,086 | $23,184,836 |