Ocean Reef Community Foundation INC FY2021 filing

Tax-deductible

Key Largo, FL501(c)(3)Since 1994Foundations & GrantmakersEIN 65-0509255Revenue $18.6M in FY2021

On file with the IRSoceanreefcommunityfoundation.org35 Ocean Reef Dr Ste 148, 33037-5259 · Key Largo, FLTax-exempt since Mar 1996Publicly supported charity — 170(b)(1)(A)(vi)

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To promote and enhance responsible and effective philanthropy for members of the Ocean Reef Community.

501(c)(3) charity; gifts are tax-deductible.
97¢ of each $1 spent went to programs.
$153K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $7.8M a year · 38% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
97%
of spending
Looks good: 97% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$153K
to officers and key staff · 1% of spending
Looks good: pay to officers and key staff is 1% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 1.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $54K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$22.0M
36% of total assets
Looks good: liabilities are 36% of assets; 50% or less.
Pt X · Ln 26
Independent board members
18
of 18 voting members
Looks good: 18 of 18 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$18.6M
+62% vs prior year
Spent
$10.7M
To programs
97%
Net assets
$39.4M
By yearFY2020–FY2025
Revenue
$18.6M
FY2021▲ +62%
Tap a bar for its year
Revenue by fiscal year
FY2020$11.5M
FY2021$18.6M
FY2022$35.3M
FY2023$22.4M
FY2024$22.6M
FY2025$14.7M
Expenses
$10.7M
FY2021▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$10.5M
FY2021$10.7M
FY2022$12.4M
FY2023$15.7M
FY2024$13.5M
FY2025$15.2M
Net assets
$39.4M
FY2021▲ +51%
Tap a bar for its year
Net assets by fiscal year
FY2020$26.1M
FY2021$39.4M
FY2022$53.8M
FY2023$61.8M
FY2024$83.5M
FY2025$92.5M

From the FY2021 Form 990 (year ending October 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

97 cents of each dollar spent went to programs.

Program services 97% · $10.4M Management & general 3% · $292K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

19 people listed on the 990; $153K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$87,464Pt VII · Sec A
$65,942Pt VII · Sec A
Vice-Chairma
$0Pt VII · Sec A
Executive Vi
$0Pt VII · Sec A
$0Pt VII · Sec A
Chairman Eme
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A

Richard Weinstein’s $154K as President and COO is at the 16th percentile of top reported officer pay among 661 $10–100M philanthropy & grantmaking nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Richard Weinstein$154,185$150,984$134,132$105,146$65,942—
Yurianna Mikolay$111,959$103,896$99,188$90,117$87,464$88,760
Lesa Crayne$106,576—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ocean Reef Community Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Channels and manages philanthropic funding to support local nonprofits and charitable causes in the Ocean Reef community and its surrounding areas.

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Provided by the organization

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1 program · $10.4M · in their own filed words · FY2020
01

To provide support for code section 501(c)(3) organizations and other not for profit organizations that benefit the community of ocean reef and the surrounding area, as well as other charitable organizations.

$10.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 3 funders$54K
See all 3 funders →
Grants paid · 712 grants · $66.6M · 2019–2024
See all 712 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$18.6M
Ln 12
Gifts and grantsLn 1h$19.2M
Investment incomeLn 3$358K
Money outPt IX
$10.7M
Ln 25
Programscol B$10.4M
Managementcol C$292K
Owns and owesPt X
$39.4M
net assets · Ln 32
Cash and savingsLn 1–2$1.6M
Total assetsLn 16$61.4M
LiabilitiesLn 26$22.0M
PeoplePt VI, VII
19
listed · VII A
PaidVII A2
Voting boardVI 1a18
IndependentVI 1b18
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$19.2M
Noncash giftsLn 1g$1.1M
Fundraising eventsLn 1c$3.1M
Investment incomeLn 3$358K
Gains on assetsLn 7$9K
Total revenueLn 12$18.6M
Assets in detailPt X, end of year
SavingsLn 2$1.6M
Cash and savings togetherLn 1–2$1.6M
InvestmentsLn 11–13$37.8M
Land, buildings, equipmentLn 10c$20K
Other assetsLn 15$21.8M
Total assetsLn 16$61.4M
LiabilitiesLn 26$22.0M
Net assetsLn 32$39.4M
OperationsPt I, VI
EmployeesI 54
VolunteersI 640
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$2.6M$1.6M
InvestmentsLn 11–13$23.7M$37.8M
Land, buildings, equipmentLn 10c$21K$20K
Total assetsLn 16$43.4M$61.4M
LiabilitiesLn 26$17.3M$22.0M
Net assetsLn 32$26.1M$39.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$10.4M$10.4M
Other salaries and wagesLn 7$143K$143K
Payroll taxesLn 10$42K$42K
Accounting feesLn 11c$30K$30K
Advertising and promotionLn 12$11K$11K
Office expensesLn 13$11K$11K
OccupancyLn 16$34K$34K
TravelLn 17$2K$2K
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$10K$10K
Total functional expensesLn 25$10.7M$10.4M$292K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $14.7M$15.2M−$488K$92.5M 990 PDF
FY2024 $22.6M$13.5M$9.0M$83.5M 990 PDF
FY2023 $22.4M$15.7M$6.7M$61.8M 990 PDF
FY2022 $35.3M$12.4M$22.8M$53.8M 990 PDF
FY2021 Viewing $18.6M$10.7M$7.9M$39.4M 990 PDF
FY2020 $11.5M$10.5M$942K$26.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $18,616,509 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,029,164$19,156,514
I-9 Program service revenue$0
I-10 Investment incomePrior year $429,243$358,234
I-11 Other revenuePrior year −$967,412−$898,239
I-12 Total revenuePrior year $11,490,995$18,616,509
I-13 Grants and similar amounts paidPrior year $10,302,706$10,444,004
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $148,190$184,924
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $97,735$106,805
I-18 Total expensesPrior year $10,548,631$10,735,733
I-19 Revenue less expensesPrior year $942,364$7,880,776
Part VI · Governance 18 of 18 board members independent, 1 to look at
VI-1a Voting members of the governing body18
VI-1b Independent voting members18
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $18,616,509 across 9 lines filed
VIII-1c Fundraising events$3,124,189
VIII-1f All other contributions, gifts and grants$16,032,325
VIII-1g Noncash contributions (included above)$1,142,524
VIII-1h Total contributions, gifts and grants$19,156,514
VIII-3 Investment incomeExcluded from tax $349,297$349,297
VIII-7 Net gain or loss on sales of assetsRelated to mission $8,937$8,937
VIII-8 Net income from fundraising events−$897,928
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission −$311−$311
VIII-12 Total revenueRelated to mission $8,626 · Excluded from tax $349,297$18,616,509
Part IX · Statement of functional expenses $10,735,733 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $10,444,004$10,444,004
IX-7 Other salaries and wagesManagement $143,176$143,176
IX-10 Payroll taxesManagement $41,748$41,748
IX-11c Accounting feesManagement $29,835$29,835
IX-12 Advertising and promotionManagement $10,859$10,859
IX-13 Office expensesManagement $10,618$10,618
IX-16 OccupancyManagement $33,574$33,574
IX-17 TravelManagement $1,587$1,587
IX-22 Depreciation, depletion and amortizationManagement $5,962$5,962
IX-23 InsuranceManagement $4,490$4,490
IX-24 Other expenses (24a–d)Management $9,880$9,880
IX-25 Total functional expensesPrograms $10,444,004 · Management $291,729 · Fundraising $0$10,735,733
Part X · Balance sheet $61,379,615 assets, 14 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,623,062$1,579,601
X-9 Prepaid expenses and deferred chargesStart of year $121,531$159,792
X-10c Land, buildings and equipment, netStart of year $20,521$19,639
X-11 Publicly traded securitiesStart of year $12,774,893$26,963,760
X-13 Program-related investmentsStart of year $10,886,175$10,886,175
X-15 Other assetsStart of year $16,979,629$21,770,648
X-16 Total assetsStart of year $43,415,311$61,379,615
X-17 Accounts payable and accrued expensesStart of year $309,314$257,293
X-19 Deferred revenueStart of year $24,878$15,000
X-26 Total liabilitiesStart of year $17,269,348$21,998,879
X-27 Net assets without donor restrictionsStart of year $25,038,215$37,524,229
X-28 Net assets with donor restrictionsStart of year $1,107,748$1,856,507
X-32 Total net assets or fund balancesStart of year $26,145,963$39,380,736
X-33 Total liabilities and net assetsStart of year $43,415,311$61,379,615
Part XI · Reconciliation of net assets $39,380,736 net assets at year end
XI-1 Total revenue$18,616,509
XI-2 Total expenses$10,735,733
XI-3 Revenue less expenses$7,880,776
XI-4 Net assets at start of year$26,145,963
XI-5 Net unrealized gains (losses) on investments$5,353,997
XI-10 Net assets at end of year$39,380,736

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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