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← OCEAN FOUNDATION

Form 990 for tax year 2022

Filed by OCEAN FOUNDATION.

What the amendment changed

Compared with the return it replaced , filed 14 May 2024. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$15,185,892 changed to $18,854,739
Total expenses
$15,947,473 changed to $15,869,946
Contributions and grants received
$13,552,845 changed to $17,221,692
Total assets, end of year
$18,251,302 changed to $21,935,882
Total liabilities, end of year
$3,190,187 changed to $3,128,393
Net assets or fund balances, end of year
$15,061,115 changed to $18,807,489
Program services expenses
$13,782,684 changed to $13,705,162
Management and general expenses
$1,164,464 changed to $1,164,460
Fundraising expenses
$1,000,325 changed to $1,000,324
Program service expenses (Part III)
$13,782,684 changed to $13,705,162

Totals

Total revenue
$18,854,739
Total expenses
$15,869,946
Contributions and grants received
$17,221,692
Grants paid
$3,514,837
Program service revenue
$1,429,068
Investment income
$43,246
Other revenue
$160,733
Total assets, end of year
$21,935,882
Total liabilities, end of year
$3,128,393
Net assets or fund balances, end of year
$18,807,489
Program services expenses (Part IX)
$13,705,162
Management and general expenses
$1,164,460
Fundraising expenses
$1,000,324
Program service expenses (Part III)
$13,705,162

Program services were 86.4% 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)

    $1,628,417

  • 1f · All other contributions, gifts and grants

    $15,593,275

  • 1g · Noncash contributions included above

    $3,920,109

  • 2a · Program service revenue: Fees for Services

    total $1,326,457 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Cabon Offset

    total $78,803 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Other program service income

    total $23,808 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $38,944 · unrelated business $0 · excluded $38,944

  • 6a · Gross rents

    real property $29,520

  • 6c · Rental income or loss

    real property $29,520

  • 6d · Net rental income or loss

    total $29,520 · related or exempt $29,520

  • 7a · Gross sales of assets other than inventory

    securities $205,109

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

    securities $200,807

  • 7c · Gain or loss

    securities $4,302

  • 7d · Net gain or loss

    total $4,302 · related or exempt $0 · unrelated business $0 · excluded $4,302

  • 11a · Other revenue: Other income

    total $131,213 · related or exempt $131,213 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $131,213

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,040,509 · program services $1,040,509

  • 3 · Grants to foreign organizations and individuals

    total $2,474,328 · program services $2,474,328

  • 5 · Compensation of officers, directors and key employees

    total $534,426 · program services $479,606 · management and general $18,273 · fundraising $36,547

  • 7 · Other salaries and wages

    total $3,162,615 · program services $1,819,010 · management and general $754,951 · fundraising $588,654

  • 8 · Pension plan contributions

    total $183,626 · program services $104,153 · management and general $44,699 · fundraising $34,774

  • 9 · Other employee benefits

    total $276,113 · program services $165,431 · management and general $64,549 · fundraising $46,133

  • 10 · Payroll taxes

    total $289,364 · program services $178,111 · management and general $59,976 · fundraising $51,277

  • 11b · Fees: legal

    total $155,494 · program services $147,586 · management and general $6,397 · fundraising $1,511

  • 11c · Fees: accounting

    total $34,484 · program services $15,630 · management and general $15,251 · fundraising $3,603

  • 11f · Fees: investment management

    total $11,269 · program services $4,781 · management and general $5,248 · fundraising $1,240

  • 11g · Fees: other

    total $4,882,025 · program services $4,822,311 · management and general $40,756 · fundraising $18,958

  • 12 · Advertising and promotion

    total $59,199 · program services $884 · management and general $0 · fundraising $58,315

  • 13 · Office expenses

    total $180,308 · program services $139,889 · management and general $26,288 · fundraising $14,131

  • 14 · Information technology

    total $94,848 · program services $85,228 · management and general $6 · fundraising $9,614

  • 16 · Occupancy

    total $221,725 · program services $91,306 · management and general $77,942 · fundraising $52,477

  • 17 · Travel

    total $1,267,008 · program services $1,216,577 · management and general $8,346 · fundraising $42,085

  • 19 · Conferences, conventions and meetings

    total $235,439 · program services $212,030 · management and general $700 · fundraising $22,709

  • 22 · Depreciation, depletion and amortization

    total $27,679 · program services $22,798 · management and general $3,948 · fundraising $933

  • 23 · Insurance

    total $71,228 · program services $31,068 · management and general $31,989 · fundraising $8,171

  • 24a · Other expenses: Project & field expenses

    total $614,635 · program services $614,426 · management and general $13 · fundraising $196

  • 24b · Other expenses: Dues, books & subscriptions

    total $13,651 · program services $7,814 · management and general $515 · fundraising $5,322

  • 24c · Other expenses: Promotional merchandise

    total $28,494 · program services $25,910 · management and general $0 · fundraising $2,584

  • 24d · Other expenses: Licenses, taxes & fees

    total $11,479 · program services $5,776 · management and general $4,613 · fundraising $1,090

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $129,116 · end of year $278,983

  • 2 · Savings and temporary cash investments

    beginning of year $2,226,095 · end of year $1,591,538

  • 3 · Pledges and grants receivable

    beginning of year $3,901,313 · end of year $3,410,368

  • 4 · Accounts receivable

    beginning of year $109,685 · end of year $408,478

  • 9 · Prepaid expenses and deferred charges

    beginning of year $45,736 · end of year $82,252

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

    $173,298

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

    $147,648

  • 10c · Land, buildings and equipment, net

    beginning of year $32,228 · end of year $25,650

  • 11 · Investments: publicly traded securities

    beginning of year $937,370 · end of year $1,506,365

  • 12 · Investments: other securities

    beginning of year $9,300,000 · end of year $13,015,000

  • 14 · Intangible assets

    beginning of year $22,980 · end of year $10,833

  • 15 · Other assets

    beginning of year $11,161 · end of year $1,606,415

  • 17 · Accounts payable and accrued expenses

    beginning of year $796,830 · end of year $831,128

  • 19 · Deferred revenue

    beginning of year $62,979 · end of year $366,523

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $200,975 · end of year $1,930,742

  • 27 · Net assets without donor restrictions

    beginning of year $11,829,937 · end of year $16,014,132

  • 28 · Net assets with donor restrictions

    beginning of year $3,824,963 · end of year $2,793,357

Mission and programs · 2022

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 $2,290,036 · Grants $427,273 · Revenue $397,134

  • 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 $3,403,348 · Grants $1,374,115 · Revenue $201,088

  • 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 $5,525,123 · Grants $744,734 · Revenue $186,175

  • 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 $2,486,655 · Grants $968,716 · Revenue $73,322

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Mark J Spalding

    President

    Total calculated
    $371,045
    From this org
    $331,854
    From related orgs
    $0
    Other
    $39,191
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $331,854
    Bonus
    $0
    Other
    $0
    Deferred
    $23,698
    Nontaxable benefits
    $16,767
    Filer's total
    $372,319

  • Shana Miller

    Program Director

    Total calculated
    $168,380
    From this org
    $157,210
    From related orgs
    $0
    Other
    $11,170
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,210
    Bonus
    $0
    Other
    $0
    Deferred
    $11,170
    Nontaxable benefits
    $1,241
    Filer's total
    $169,621

  • Tamika Washington

    Finance & Operations Director

    Total calculated
    $166,183
    From this org
    $146,451
    From related orgs
    $0
    Other
    $19,732
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,541
    Bonus
    $0
    Other
    $0
    Deferred
    $10,648
    Nontaxable benefits
    $10,754
    Filer's total
    $167,943

  • Kate Morrison

    Strategic Partnerships Director

    Total calculated
    $151,124
    From this org
    $140,884
    From related orgs
    $0
    Other
    $10,240
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,884
    Bonus
    $0
    Other
    $0
    Deferred
    $10,240
    Nontaxable benefits
    $1,430
    Filer's total
    $152,554

  • Maria Alej Navarrete Hernandez

    Govt & Multinationals Liason Officer

    Total calculated
    $137,922
    From this org
    $123,385
    From related orgs
    $0
    Other
    $14,537
    Hours/week
    40

  • Jason Donofrio

    Chief Development Officer

    Total calculated
    $132,231
    From this org
    $122,222
    From related orgs
    $0
    Other
    $10,009
    Hours/week
    40

  • Fernando Bretos

    Program Officer

    Total calculated
    $135,799
    From this org
    $117,164
    From related orgs
    $0
    Other
    $18,635
    Hours/week
    40

  • Elliot S Cafritz

    Chairman & Director

    Total calculated
    $0
    Hours/week
    1

  • Angel Braestrup

    Secretary & Director

    Total calculated
    $0
    Hours/week
    1

  • Olha Krushelnytska

    Treasurer & Director

    Total calculated
    $0
    Hours/week
    1

  • Thomas Brigandi

    Director

    Total calculated
    $0
    Hours/week
    1

  • Patrick Flynn

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joshua R Ginsberg

    Director

    Total calculated
    $0
    Hours/week
    1

  • Rolando Morillo

    Director

    Total calculated
    $0
    Hours/week
    1

  • Imani Fairweather Morrison

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lumay Wang Murphy

    Director

    Total calculated
    $0
    Hours/week
    1

  • Denise Naguib

    Director

    Total calculated
    $0
    Hours/week
    1

  • Russell F Smith

    Director

    Total calculated
    $0
    Hours/week
    1

  • Karen Thorne

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ed Tilinghast III

    Director

    Total calculated
    $0
    Hours/week
    1

  • Lisa Volgenau

    Director

    Total calculated
    $0
    Hours/week
    1

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
2022
Filed
1 November 2024
IRS schema version
2022v5.0
Source object
202443099349300764

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

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