Greenwave Organization Corp
- Assets
- $6.4m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 18
- Location
- New Haven, CT
- Founding
- 07/2016
- Data as of
- 06/2022
- EIN
- 47-5438012
Organization Overview
Greenwave Organization Corp is located in New Haven, CT. The organization was established in 2016. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 06/2022, Greenwave Organization Corp employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Greenwave Organization Corp 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 06/2022, Greenwave Organization Corp generated $6.2m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 48.6% each year . All expenses for the organization totaled $2.8m during the year ending 06/2022. While expenses have increased by 36.8% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
DEVELOPMENT AND IMPLEMENTATION OF EDUCATION PROGRAMS IN THE FIELDS OF OCEAN RESTORATION, OCEAN FARMING, CLIMATE CHANGE, AND SUSTAINABLE FOOD SOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GREENWAVE WORKS TO REPLICATE AND SCALE REGENERATIVE OCEAN FARMING IN COASTAL COMMUNITIES TO CREATE A BLUE ECONOMY BUILT AND LED BY OCEAN FARMERS THAT ENSURES WE ALL MAKE A LIVING ON A LIVING PLANET. GREENWAVE WORKS WITH FARMERS TO IDENTIFY BARRIERS TO GROWTH, DEVELOP SOLUTIONS, AND SHARE BEST PRACTICES THROUGH FOUR PROGRAM AREAS: TRAINING, CLIMATE SUBSIDIES, AND MARKET AND INFRASTRUCTURE DEVELOPMENT. TO DATE, GREENWAVE HAS TRAINED AND SUPPORTED OVER 3800 FARMERS, ENTREPRENEURS, HATCHERY TECHNICIANS, AND OTHERS ACROSS THE US AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brendan Smith Co-Executive Director | Officer | 40 | $123,854 |
Emily Stengel Co-Executive Director | Officer | 40 | $117,250 |
Karen Simons Chair And Treasurer | OfficerTrustee | 0.5 | $0 |
Lisa Holmes Secretary | OfficerTrustee | 0.5 | $0 |
Curt Ellis Director | Trustee | 0.5 | $0 |
Morgan Dixon Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Goodfolk Inc Website And Technology | 6/29/22 | $465,500 |
Sam Garwin Consulting Llc Kelp Market Innovation | 6/29/22 | $128,548 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $142,956 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,962,930 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,105,886 |
| Total Program Service Revenue | $93,439 |
| Investment income | $5,514 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,204,839 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $143,326 |
| Grants and other assistance to domestic individuals. | $17,400 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $276,865 |
| Compensation of current officers, directors, key employees. | $47,506 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $933,164 |
| Pension plan accruals and contributions | $49,310 |
| Other employee benefits | $108,295 |
| Payroll taxes | $90,058 |
| Fees for services: Management | $23,032 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,978 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $578,851 |
| Advertising and promotion | $704 |
| Office expenses | $17,244 |
| Information technology | $65,091 |
| Royalties | $0 |
| Occupancy | $81,365 |
| Travel | $77,426 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,262 |
| Insurance | $31,968 |
| All other expenses | $206,275 |
| Total functional expenses | $2,763,614 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $386,963 |
| Savings and temporary cash investments | $5,198,489 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $44,155 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $37,203 |
| Net Land, buildings, and equipment | $117,148 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $577,875 |
| Other assets | $7,200 |
| Total assets | $6,369,033 |
| Accounts payable and accrued expenses | $142,663 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $142,663 |
| Net assets without donor restrictions | $5,870,916 |
| Net assets with donor restrictions | $355,454 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $6,369,033 |
Grants Awarded
Over the last fiscal year, Greenwave Organization Corp has awarded $135,776 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Anchorage, AK PURPOSE: TO SUPPORT ACTIVITIES RELATED TO REGENERATIVE OCEAN FARMING IN NATIVE COMMUNITIES IN ALASKA | $70,856 |
ALASKA OCEAN FARMS PURPOSE: DIRECT PAYMENT TO OCEAN FARMER IN RECOGNITION OF A BUNDLE OF CLIMATE IMPACTS THAT INCLUDE CARBON AND NITROGEN REMOVAL, REEF RESTORATION, AND GREEN JOBS | $25,000 |
SEAGROVE KELP CO PURPOSE: DIRECT PAYMENT TO OCEAN FARMER IN RECOGNITION OF A BUNDLE OF CLIMATE IMPACTS THAT INCLUDE CARBON AND NITROGEN REMOVAL, REEF RESTORATION, AND GREEN JOBS | $25,000 |
SUMMIT POINT LLC PURPOSE: DIRECT PAYMENT TO OCEAN FARMER IN RECOGNITION OF A BUNDLE OF CLIMATE IMPACTS THAT INCLUDE CARBON AND NITROGEN REMOVAL, REEF RESTORATION, AND GREEN JOBS | $14,920 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Greenwave Organization Corp has recieved totaling $17,000.
| Awarding Organization | Amount |
|---|---|
The Johanna A Favrot Fund Houston, TX PURPOSE: GREENWAVE HAS CULTIVATED A THRIVING NETWORK OF ACTIVE FARMS, WORKING KELP SEED HATCHERIES, PROCESSING HUBS AND MARKET OPPORTUNITIES IN SOUTHERN NEW ENGLAND. LEVERAGING THESES REGIONAL SUCCESSES, GREENWAVE IS EXPANDING SUPPORT IN MULTIPLE REGIONS IN THE U.S. AND CANADA, INCLUDING BRITISH COLUMBIA, ALASKA, CALIFORNIA, NEW YORK AND THE PACIFIC NORTHWEST. THE PURPOSE OF THE GRANT IS TO SUPPORT GREENWAVE'S WORK TO REPLICATE THE FARMING MODEL IN COASTAL COMMUNITIES THROUGHOUT NORTH AMERICA TO CREATE A BLUE GREEN ECONOMY BUILT AND LED BY OCEAN FARMERS THAT ENSURES WE WILL MAKE A LIVING ON A LIVING PLANET. | $17,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bellwether Education Partners Inc Sudbury, MA | $12,819,060 | $18,147,451 |
Workforce Development Institute Inc Albany, NY | $2,796,326 | $10,204,057 |
Vhs Inc Maynard, MA | $2,159,485 | $7,029,751 |
United For Respect Education Fund Brooklyn, NY | $7,552,270 | $7,410,651 |
1st Street Foundation Inc Brooklyn, NY | $4,623,074 | $8,726,760 |
More Than Words Inc Boston, MA | $15,091,779 | $6,459,719 |
West Bay Collaborative Inc Warwick, RI | $2,617,303 | $5,710,370 |
Leading Edge Alliance Inc New York, NY | $10,397,327 | $8,264,467 |
Connecticut Center For Arts & Technology Inc New Haven, CT | $3,075,426 | $11,576,748 |
Read To Lead Inc New York, NY | $3,901,385 | $3,177,958 |
Foundation For Civic Leadership Inc Cambridge, MA | $2,419,879 | $3,718,020 |
Resource Training Center Inc Staten Island, NY | $1,509,183 | $2,732,050 |