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Nonprofiteer
← OCEAN FOUNDATION

Form 990 for tax year 2023

Filed by OCEAN FOUNDATION.

Totals

Total revenue
$18,847,028
Total expenses
$18,826,931
Contributions and grants received
$16,846,611
Grants paid
$4,242,241
Program service revenue
$1,522,138
Investment income
$142,632
Other revenue
$335,647
Total assets, end of year
$23,212,933
Total liabilities, end of year
$4,362,097
Net assets or fund balances, end of year
$18,850,836
Program services expenses (Part IX)
$16,641,700
Management and general expenses
$1,752,977
Fundraising expenses
$432,254
Program service expenses (Part III)
$16,641,700

Program services were 88.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $2,927,596

  • 1f · All other contributions, gifts and grants

    $13,919,015

  • 1g · Noncash contributions included above

    $1,146,070

  • 2a · Program service revenue: Fees for Services

    total $1,433,107 · related or exempt $1,433,107

  • 2b · Program service revenue: Carbon Offset

    total $73,257 · related or exempt $73,257

  • 2c · Program service revenue: Other Program Service Income

    total $15,774 · related or exempt $15,774

  • 3 · Investment income

    total $27,668 · excluded $27,668

  • 6a · Gross rents

    real property $21,702

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $21,702

  • 6d · Net rental income or loss

    total $21,702 · related or exempt $21,702

  • 7a · Gross sales of assets other than inventory

    securities $390,643

  • 7b · Less cost or other basis and sales expenses

    securities $275,679

  • 7c · Gain or loss

    securities $114,964

  • 7d · Net gain or loss

    total $114,964 · excluded $114,964

  • 11a · Other revenue: Other Income

    total $313,945 · related or exempt $313,945

  • 11e · Other revenue, total

    $313,945

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,715,401 · program services $1,715,401

  • 2 · Grants to domestic individuals

    total $98,950 · program services $98,950

  • 3 · Grants to foreign organizations and individuals

    total $2,427,890 · program services $2,427,890

  • 5 · Compensation of officers, directors and key employees

    total $551,413 · program services $494,348 · management and general $19,022 · fundraising $38,043

  • 7 · Other salaries and wages

    total $3,663,275 · program services $2,585,780 · management and general $830,643 · fundraising $246,852

  • 8 · Pension plan contributions

    total $212,085 · program services $147,145 · management and general $50,670 · fundraising $14,270

  • 9 · Other employee benefits

    total $354,089 · program services $242,268 · management and general $91,053 · fundraising $20,768

  • 10 · Payroll taxes

    total $324,982 · program services $225,924 · management and general $77,022 · fundraising $22,036

  • 11b · Fees: legal

    total $337,887 · program services $321,482 · management and general $16,405

  • 11c · Fees: accounting

    total $17,200 · management and general $17,200

  • 11d · Fees: lobbying

    total $2,000 · program services $2,000

  • 11g · Fees: other

    total $5,487,368 · program services $5,256,678 · management and general $227,626 · fundraising $3,064

  • 12 · Advertising and promotion

    total $102,270 · program services $52,736 · management and general $49,534

  • 13 · Office expenses

    total $281,219 · program services $192,217 · management and general $86,206 · fundraising $2,796

  • 14 · Information technology

    total $78,120 · program services $47,067 · management and general $31,053

  • 16 · Occupancy

    total $224,735 · program services $81,888 · management and general $133,953 · fundraising $8,894

  • 17 · Travel

    total $1,355,748 · program services $1,263,659 · management and general $37,368 · fundraising $54,721

  • 19 · Conferences, conventions and meetings

    total $205,116 · program services $188,436 · management and general $7,060 · fundraising $9,620

  • 22 · Depreciation, depletion and amortization

    total $37,304 · program services $31,091 · management and general $6,213

  • 23 · Insurance

    total $76,860 · program services $30,473 · management and general $46,346 · fundraising $41

  • 24a · Other expenses: Project & Field Expense

    total $1,132,055 · program services $1,131,683 · management and general $372

  • 24b · Other expenses: Licenses, Taxes & Permi

    total $69,480 · program services $66,169 · management and general $3,311

  • 24c · Other expenses: Dues & Subscriptions

    total $27,384 · program services $16,803 · management and general $2,083 · fundraising $8,498

  • 24d · Other expenses: Promotional Merchandise

    total $18,141 · program services $15,662 · management and general $2,479

  • 24e · All other expenses

    total $25,959 · program services $5,950 · management and general $17,358 · fundraising $2,651

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $278,983 · end of year $259,306

  • 2 · Savings and temporary cash investments

    beginning of year $1,591,538 · end of year $304,907

  • 3 · Pledges and grants receivable

    beginning of year $3,410,368 · end of year $4,866,930

  • 4 · Accounts receivable

    beginning of year $408,478 · end of year $701,572

  • 9 · Prepaid expenses and deferred charges

    beginning of year $82,252 · end of year $57,175

  • 10a · Land, buildings and equipment: cost or other basis

    $1,198,198

  • 10b · Land, buildings and equipment: accumulated depreciation

    $102,482

  • 10c · Land, buildings and equipment, net

    beginning of year $25,650 · end of year $1,095,716

  • 11 · Investments: publicly traded securities

    beginning of year $1,506,365 · end of year $1,464,139

  • 12 · Investments: other securities

    beginning of year $13,015,000 · end of year $13,015,000

  • 14 · Intangible assets

    beginning of year $10,833 · end of year $15,688

  • 15 · Other assets

    beginning of year $1,606,415 · end of year $1,432,500

  • 17 · Accounts payable and accrued expenses

    beginning of year $831,128 · end of year $645,595

  • 18 · Grants payable

    end of year $217,119

  • 19 · Deferred revenue

    beginning of year $366,523 · end of year $1,536,523

  • 23 · Secured mortgages and notes payable

    end of year $443,952

  • 25 · Other liabilities

    beginning of year $1,930,742 · end of year $1,518,908

  • 27 · Net assets without donor restrictions

    beginning of year $16,014,132 · end of year $11,566,652

  • 28 · Net assets with donor restrictions

    beginning of year $2,793,357 · end of year $7,284,184

Mission and programs · 2023

Mission

As the only community foundation for the ocean, The Ocean Foundation's mission is to improve global ocean health, climate resilience, and the blue economy. We create partnerships to connect all peoples in the communities in which we work to the informational, technical and financial resources they need to achieve their ocean stewardship goals.

  • Protecting Species of Concern- For many of us, our first interest in the oceans began with an interest in the large animals that call it home. Whether it be the awe inspired by a gentle humpback whale, the undeniable charisma of a curious dolphin, or the ferocious gaping maw of a great white shark, these animals are more than just the ambassadors of the sea. These apex predators and keystone species keep the ocean ecosystem in balance, and the health of their populations often serves as an indicator for the health of the oceans as a whole.

    Expenses $2,780,711 · Grants $515,698 · Revenue $860,176

  • Expanding Ocean Literacy and Public Awareness- One of the most significant barriers to progress in the marine conservation sector is a lack of real understanding about the vulnerability and connectivity of ocean systems. It is easy to think of the oceans as vast, almost unlimited sources of food and recreation with abundant animals, plants, and protected spaces. Thus, it can be difficult to see the destructive consequences of human activities along the coast and below the surface. This lack of awareness creates a significant need for programs that effectively communicate how the health of our oceans relates to climate change, the global economy, biodiversity, human health, and our quality of life.

    Expenses $4,132,567 · Grants $1,658,491 · Revenue $435,548

  • Protecting Marine Habitats and Special Places- Our oceans are a mosaic of special places, from the bustling vibrancy of coral reefs to the tidal pools of the rocky coasts to the stark, glistening beauty of the frozen Arctic. These habitats and ecosystems are more than just picturesque they all provide vital benefits to the health of the ocean, the plants and animals that live in them, and the human communities that depend on them.

    Expenses $6,708,964 · Grants $898,858 · Revenue $403,248

  • Building The Capacity of the Marine Conservation Community- There are many outstanding conservation organizations dedicated to protecting and preserving our oceans. The Ocean Foundation provides assistance to these entities, which have a need to develop a certain skill or competence, or for general upgrading of performance ability. The Ocean Foundation was created in part to bring new financial and technical resources to the table so that we can increase the capacity of these organizations to pursue their missions.

    Expenses $3,019,458 · Grants $1,169,194 · Revenue $158,813

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Elliot S Cafritz

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Mark J Spalding

    President

    Total calculated
    $380,433
    From this org
    $361,013
    From related orgs
    $0
    Other
    $19,420
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $361,013
    Bonus
    $0
    Other
    $0
    Deferred
    $19,420
    Nontaxable benefits
    $0
    Filer's total
    $380,433

  • Olha Krushelnytska

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Russell F Smith

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Angel E Braestrup

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Thomas Brigandi

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Patrick Flynn

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Joshua Ginsberg

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Rolando Morillo

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Imani Fairweather Morrison

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lumay Wang Murphy

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Denise Naguib

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ed Tillinghast III

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Karen Thorne

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Lisa Volgenau

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Shana Miller

    Program Director

    Total calculated
    $170,979
    From this org
    $158,237
    From related orgs
    $0
    Other
    $12,742
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,237
    Bonus
    $0
    Other
    $0
    Deferred
    $11,505
    Nontaxable benefits
    $1,237
    Filer's total
    $170,979

  • Tamika Washington

    Finance & Operations Director

    Total calculated
    $177,771
    From this org
    $154,515
    From related orgs
    $0
    Other
    $23,256
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,515
    Bonus
    $0
    Other
    $0
    Deferred
    $11,170
    Nontaxable benefits
    $12,086
    Filer's total
    $177,771

  • Kate Morrison

    Strategic Partnerships Director

    Total calculated
    $151,552
    From this org
    $150,277
    From related orgs
    $0
    Other
    $1,275
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,277
    Bonus
    $0
    Other
    $0
    Deferred
    $1,275
    Nontaxable benefits
    $0
    Filer's total
    $151,552

  • Andrea Capuro

    Chief of Program

    Total calculated
    $154,786
    From this org
    $137,200
    From related orgs
    $0
    Other
    $17,586
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,200
    Bonus
    $0
    Other
    $0
    Deferred
    $7,943
    Nontaxable benefits
    $9,643
    Filer's total
    $154,786

  • Bobbi-Jo Dobush

    Legal & Ocean Governance Officer

    Total calculated
    $141,011
    From this org
    $129,073
    From related orgs
    $0
    Other
    $11,938
    Hours/week
    40

  • Fernando Bretos

    Program Officer

    Total calculated
    $148,910
    From this org
    $126,203
    From related orgs
    $0
    Other
    $22,707
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type
form_990
Tax year
2023
Filed
15 May 2025
IRS schema version
2023v6.0
Source object
202521359349306157

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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