National Ocean Industries Association
- Assets
- $3.7m
- Revenue
- $3.7m
- Investments
- $0.0
- Employees
- 5
- Location
- Washington, DC
- Founding
- 07/1966
- Data as of
- 12/2023
- EIN
- 52-6067118
Organization Overview
National Ocean Industries Association is located in Washington, DC. The organization was established in 1966. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, National Ocean Industries Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Ocean Industries Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, National Ocean Industries Association generated $3.7m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $3.5m during the year ending 12/2023. While expenses have increased by 0.5% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
NOIA REPRESENTS AND ADVANCES A DYNAMIC AND GROWING OFFSHORE ENERGY INDUSTRY, PROVIDING SOLUTIONSTHAT SUPPORT COMMUNITIES AND PROTECT OUR WORKERS, THE PUBLIC AND OUR ENVIRONMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEETINGS AND CONFERENCES - CONDUCTED TO EDUCATE AND DISSEMINATE INFORMATION ABOUT NEW DEVELOPMENTS IN THE OFFSHORE AND OCEAN ORIENTED INDUSTRIES. THE ASSOCIATION CONDUCTS AN ANNUAL MEETING, FALL MEETING AND A FEW OTHER SMALLER EVENTS WHICH WERE ATTENDED BY 512 INTERESTED PERSONS.
MISCELLANEOUS ACTIVITIES ON BEHALF OF THE MEMBERS OF THE ORGANIZATION.
MEMBER SERVICES - SERVICES PROVIDED TO MEMBERS INCLUDE PROMOTION OF THE COMMON BUSINESS INTERESTS OF THE MEMBERS, PUBLIC EDUCATION AS TO THE OCEAN'S USE AND ITS RELATION TO THE ECONOMY, SCIENTIFIC AND EDUCATIONAL ACTIVITIES IN THE FIELD OF OCEAN ENTERPRISE, LOBBYING AND COMMUNICATION BETWEEN INDUSTRY AND THE FEDERAL GOVERNMENT, AND SUPPORTING LEGISLATION AND OTHER GOVERNMENTAL ACTION FAVORABLE TO THE OFFSHORE AND OCEAN INDUSTRIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Krieger Board Member | Trustee | 1 | $0 |
Erik Oswald Board Member | Trustee | 1 | $0 |
David Barton Board Member | Trustee | 1 | $0 |
David Cherechinsky Board Member | Trustee | 1 | $0 |
Karthik Annadorai Board Member | Trustee | 1 | $0 |
John Gellert Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Icf Resources Research | 12/30/22 | $175,400 |
Vysus Group Research | 12/30/22 | $136,874 |
Lot Sixteen Consulting | 12/30/22 | $120,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $3,668,382 |
| Investment income | $58,521 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$72,193 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,665,015 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,055,319 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $630,353 |
| Pension plan accruals and contributions | $32,747 |
| Other employee benefits | $32,139 |
| Payroll taxes | $76,504 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $61,712 |
| Fees for services: Accounting | $35,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $100,345 |
| Information technology | $27,048 |
| Royalties | $0 |
| Occupancy | $324,922 |
| Travel | $75,056 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $791,675 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,761 |
| Insurance | $17,179 |
| All other expenses | $0 |
| Total functional expenses | $3,500,648 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,492,373 |
| Savings and temporary cash investments | $149,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $89,234 |
| 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 | $178,967 |
| Net Land, buildings, and equipment | $9,558 |
| Investments—publicly traded securities | $976,360 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $768,524 |
| Total assets | $3,664,016 |
| Accounts payable and accrued expenses | $99,944 |
| Grants payable | $0 |
| Deferred revenue | $320,992 |
| 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 | $891,392 |
| Total liabilities | $1,312,328 |
| Net assets without donor restrictions | $1,711,533 |
| Net assets with donor restrictions | $640,155 |
| 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 | $3,664,016 |