PLATINUM2023

ALTASEA AT THE PORT OF LOS ANGELES

AltaSea at the Port of Los Angeles accelerates scientific collaboration, facilitates job creation and inspires the next generation for a more sustainable ocean.

San Pedro, CA   |  www.altasea.org
GuideStar Charity Check

ALTASEA AT THE PORT OF LOS ANGELES

EIN: 46-3977904


Mission

AltaSea at the Port of Los Angeles is dedicated to accelerating scientific collaboration, advancing an emerging blue economy through business innovation and job creation, and inspiring the next generation, all for a more sustainable, just and equitable world.

Ruling year info

2014

President/CEO

Mr. Terry Tamminen

Main address

2451 Signal Street

San Pedro, CA 90731 USA

Show more contact info

EIN

46-3977904

Subject area info

Climate change

Oceans and coastal waters

Renewable energy

Marine science

Sustainable development

Population served info

Children and youth

Economically disadvantaged people

NTEE code info

Marine Science and Oceanography (U21)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

Oceans are key to human life and under threat (The Ocean Revealed, CNRS Editions, 2017). The Port of Los Angeles neighborhoods (San Pedro, Wilmington, Harbor City) suffer from low levels of income and education, and high rates of crime (http://maps.latimes.com/neighborhoods/). Ocean-based innovations can provide 100 million new jobs by 2025 (www.theblueeconomy.org). AltaSea is a singular solution that harnesses the oceans' potential for the benefit of the local community and the world.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Project Blue

Project Blue isan outreach initiative to inspire people of all ages to protect the ocean and responsibly utilize it as a resource for solving global challenges including climate change, energy supply, and food security. Project Blue employsa multifaceted approach to provide formal and informal educational resources and increase access to the growing Blue Economy.

Population(s) Served
Children and youth
Economically disadvantaged people

The AltaSea Ocean Pathways Program intends to create and equitably fill the ocean STEM jobs of the future through investments in career exploration, workforce development, and entrepreneurship activities-especially in underserved communities.

Population(s) Served
Children and youth
Economically disadvantaged people
Ethnic and racial groups

The Blue Sustainable Economy Alliance (BlueSEA) provides business assistance, support, and investment platforms for innovators and entrepreneurs who seek to develop, grow and scale their blue businesses. The main goals are to recruit tenants to AltaSea and to develop a Blue Economy Alliance to advocate for support for ocean technologies that mitigate climate change.

Population(s) Served
Ethnic and racial groups
Economically disadvantaged people

AltaSea, by design, facilitates and enhances the research at universities, without being in direct competition. AltaSea directly supports the work of researchers both on and off the AltaSea campus by providing space and connections to services and new partners that amplify the equitable development of use-inspired, innovative ocean-focused technologies.

Population(s) Served
Young adults
Academics

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of students showing interest in topics related to STEM

This metric is no longer tracked.
Totals By Year
Population(s) Served

Children and youth, Economically disadvantaged people, Students, Teachers

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

Context Notes

Project Blue is an outreach initiative to inspire people of all ages to protect the ocean and responsibly utilize it as a resource for solving global challenges including climate change, energy supply

Number of stakeholders or stakeholder groups who agree to engage

This metric is no longer tracked.
Totals By Year
Population(s) Served

Ethnic and racial groups, Economically disadvantaged people, Activists

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

The Blue Sustainable Economy Alliance (BlueSEA) provides business assistance, support, and investment platforms for innovators and entrepreneurs who seek to develop, grow and scale their blue business

Number of groups brought together in a coalition/alliance/partnership

This metric is no longer tracked.
Totals By Year
Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

AltaSea, by design, facilitates and enhances the research at universities, without being in direct competition. Number of collegiate partners and university research partners.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

AltaSea is a public-private partnership redeveloping a 35 acre property at the Port of Los Angeles into a world-class ocean-based campus where science, business and education come together to generate innovative solutions to three of the most critical global sustainability issues today: food, energy, and climate security. Ocean-related education is a vital component of AltaSea's mission to accelerate scientific collaboration, facilitate job creation, and inspire the next generation for a more sustainable ocean. AltaSea is a place where innovators collaborate to develop solutions critical to the survival of the earth and its inhabitants; the younger generation – particularly students from Title 1 schools lacking strong STEM programs – develops strong STEM skills and a pathway to STEM careers; and the community at large learns about and becomes involved in issues pertinent to creating an equitable future.

Innovation: Bringing ocean scientists and explorers together with entrepreneurs and corporate investors will spur advances in robotics, sustainable aquaculture and other "blue technologies" that will help solve climate change, food security, clean energy and other challenges facing humanity.

Economic Development: Our business incubator/accelerators will foster new companies creating next-generation jobs in the Blue Economy. A Kosmont Companies' study projects AltaSea's impact to be $290 million in annual economic activity and 1,350 permanent jobs - plus thousands of jobs during construction.

Education and Workforce Development: We incentivize tenants to give back to the community through reduced rents for educational programs and public access. Partnering with schools and youth development organizations, we pilot STEM education models that link disadvantaged youth with inspirational scientists, explorers, and entrepreneurs - creating Blue Economy career pathways.

AltaSea is a public-private venture redeveloping 35 acres of dockland at the Port of Los Angeles. The site has attracted every segment of the ocean protection community, along with corporate, civic and philanthropic leaders who see the potential. Powered by this asset, AltaSea has created a model to allow business to fuel science, science to stimulate business, and the whole of the endeavor to enrich and inspire the next generation of ocean explorers, innovators, and researchers.

Our 50-year lease with the Port includes a commitment by the City for $40 million in infrastructure. AltaSea has committed to raising $200 million to construct a 180,000 s.f. business and innovation center; a 60,000 s.f. research and higher education facility; a visitor-attracting wharf plaza; and a multifaceted engagement center capable of educating 50,000 visitors annually.

With $86+ million committed, an array of tenants and partners secured, and construction under way, the time for AltaSea is now.

AltaSea has made amazing progress over the last coupe years. In 2022, we provided innovative STEM learning experiences through our Project Blue program to 8,244 K-12 students. AltaSea has executed numerous Memorandums of Understanding with partners and tenants, expanding AltaSea's network of collaborators and innovators in science, business and education. In 2022, we established 35 partnerships including tenants, alliance members and college/university partners. In addition, AltaSea completed installation of 4,753 solar panelswhich will generate enough electricity to sustain the AltaSea campus as well as power 700 nearby homes. We also began renovation on warehouses 58-60 with plans to complete the work in mid-2023.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We demonstrated a willingness to learn more by reviewing resources about feedback practice.
done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We share the feedback we received with the people we serve

  • What challenges does the organization face when collecting feedback?

    We don't have any major challenges to collecting feedback

Financials

ALTASEA AT THE PORT OF LOS ANGELES
Fiscal year: Jan 01 - Dec 31

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2022 info

SOURCE: IRS Form 990

0.96

Average of 7.03 over 9 years

Months of cash in 2022 info

SOURCE: IRS Form 990

15.4

Average of 14.1 over 9 years

Fringe rate in 2022 info

SOURCE: IRS Form 990

13%

Average of 14% over 9 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

SOURCE: IRS Form 990

ALTASEA AT THE PORT OF LOS ANGELES

Revenue & expenses

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

Fiscal year ending: cloud_download Download Data

ALTASEA AT THE PORT OF LOS ANGELES

Balance sheet

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

ALTASEA AT THE PORT OF LOS ANGELES

Financial trends analysis Glossary & formula definitions

Fiscal Year: Jan 01 - Dec 31

SOURCE: IRS Form 990 info

This snapshot of ALTASEA AT THE PORT OF LOS ANGELES’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.

Created in partnership with

Business model indicators

Profitability info 2018 2019 2020 2021 2022
Unrestricted surplus (deficit) before depreciation $329,765 $1,003,310 $1,408,701 $744,769 $1,809,184
As % of expenses 20.0% 75.5% 98.7% 44.5% 54.6%
Unrestricted surplus (deficit) after depreciation $294,787 $973,434 $1,391,623 $728,223 $1,710,332
As % of expenses 17.5% 71.6% 96.4% 43.1% 50.2%
Revenue composition info
Total revenue (unrestricted & restricted) $3,274,692 $5,533,406 $2,057,913 $2,313,467 $5,539,455
Total revenue, % change over prior year 23.3% 69.0% -62.8% 12.4% 139.4%
Program services revenue 0.0% 0.0% 0.0% 0.0% 5.4%
Membership dues 0.0% 0.0% 0.0% 0.0% 0.1%
Investment income 0.0% 0.1% 0.2% 0.1% 0.2%
Government grants 4.6% 0.4% 0.0% 11.6% 35.5%
All other grants and contributions 90.3% 91.0% 86.7% 73.6% 57.2%
Other revenue 5.1% 8.6% 13.2% 14.7% 1.6%
Expense composition info
Total expenses before depreciation $1,646,478 $1,329,744 $1,427,128 $1,672,020 $3,311,244
Total expenses, % change over prior year 3.5% -19.2% 7.3% 17.2% 98.0%
Personnel 44.9% 57.4% 46.9% 41.3% 45.3%
Professional fees 19.9% 9.0% 10.1% 8.7% 14.9%
Occupancy 16.8% 15.7% 15.9% 10.3% 5.5%
Interest 0.0% 0.0% 0.0% 0.0% 0.2%
Pass-through 1.3% 5.6% 0.0% 0.0% 15.4%
All other expenses 17.0% 12.3% 27.1% 39.7% 18.7%
Full cost components (estimated) info 2018 2019 2020 2021 2022
Total expenses (after depreciation) $1,681,456 $1,359,620 $1,444,206 $1,688,566 $3,410,096
One month of savings $137,207 $110,812 $118,927 $139,335 $275,937
Debt principal payment $0 $0 $0 $114,480 $0
Fixed asset additions $626,631 $510,920 $0 $491,911 $3,615,594
Total full costs (estimated) $2,445,294 $1,981,352 $1,563,133 $2,434,292 $7,301,627

Capital structure indicators

Liquidity info 2018 2019 2020 2021 2022
Months of cash 12.3 13.8 24.5 26.3 15.4
Months of cash and investments 12.3 13.8 24.5 26.3 15.4
Months of estimated liquid unrestricted net assets 3.4 8.7 19.9 18.8 2.9
Balance sheet composition info 2018 2019 2020 2021 2022
Cash $1,680,934 $1,527,794 $2,914,346 $3,666,159 $4,249,976
Investments $0 $0 $0 $0 $0
Receivables $2,309,221 $6,138,480 $5,133,461 $4,518,523 $6,386,980
Gross land, buildings, equipment (LBE) $4,296,439 $4,807,358 $4,812,712 $5,304,623 $8,920,216
Accumulated depreciation (as a % of LBE) 2.9% 3.2% 3.6% 3.5% 3.2%
Liabilities (as a % of assets) 5.7% 3.8% 1.8% 1.4% 22.9%
Unrestricted net assets $4,642,003 $5,615,437 $7,007,060 $7,735,283 $9,445,615
Temporarily restricted net assets $3,081,753 N/A N/A N/A N/A
Permanently restricted net assets $0 N/A N/A N/A N/A
Total restricted net assets $3,081,753 $6,281,886 $5,504,646 $5,405,109 $5,430,681
Total net assets $7,723,756 $11,897,323 $12,511,706 $13,140,392 $14,876,296

Key data checks

Key data checks info 2018 2019 2020 2021 2022
Material data errors No No No No No

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Letter of Determination is not available for this organization
Form 1023/1024 is not available for this organization

President/CEO

Mr. Terry Tamminen

Governor Arnold Schwarzenegger appointed Terry Secretary of the California Environmental Protection Agency and later Cabinet Secretary, the Chief Policy Advisor to the Governor, where Terry was the architect of many groundbreaking sustainability policies, including California’s landmark Global Warming Solutions Act of 2006, the Hydrogen Highway Network, and the Million Solar Roofs initiative. In 2010 Terry cofounded the R20 Regions of Climate Action, a new public-private partnership, bringing together sub national governments; businesses; financial markets; NGOs; and academia to implement measurable, large-scale, low-carbon and climate resilient economic development projects that can simultaneously solve the climate crisis and build a sustainable global economy. He also provides advice through 7th Generation Advisors to Pegasus Capital Advisors, the Green Climate Fund and numerous global businesses on sustainability and “green” investing.

Number of employees

Source: IRS Form 990

ALTASEA AT THE PORT OF LOS ANGELES

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
Related
Show data for fiscal year
Compensation data
Download up to 5 most recent years of officer and director compensation data for this organization

There are no highest paid employees recorded for this organization.

ALTASEA AT THE PORT OF LOS ANGELES

Board of directors
as of 01/04/2024
SOURCE: Self-reported by organization
Board of directors data
Download the most recent year of board of directors data for this organization
Board chair

Geraldine Knatz

University of Southern California

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Not applicable
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Not applicable

Organizational demographics

SOURCE: Self-reported; last updated 2/2/2022

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

No data

Disability

No data

Equity strategies

Last updated: 12/04/2023

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We ask team members to identify racial disparities in their programs and / or portfolios.
  • We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
  • We have community representation at the board level, either on the board itself or through a community advisory board.
  • We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
  • We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.
  • We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.

Contractors

Fiscal year ending

Professional fundraisers

Fiscal year ending

SOURCE: IRS Form 990 Schedule G

Solicitation activities
Gross receipts from fundraising
Retained by organization
Paid to fundraiser