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Ocean Grants Foundation FY2024 filing

Tax-deductible

Lighthouse Pt, FL501(c)(3)EnvironmentEIN 85-2690732

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Is to support Ocean Grants, a 501(c)3 public charity that educates the public about ocean conservation and provides grants to other ocean- focused nonprofit organizations, through fundraising and grant-making.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
2 of 3
filings with a surplus
Average surplus $354K a year · 56% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$1.1M
116% of total assets
Concern: liabilities are 116% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$106K
+53% vs prior year
Spent
$258K
To programs
87%
Net assets
−$152K
By yearFY2021–FY2025
Revenue
$106K
FY2024▲ +53%
Revenue by fiscal year
FY2021$270K
FY2022$81K
FY2023$69K
FY2024$106K
FY2025$1.5M
Expenses
$258K
FY2024▲ +623%
Expenses by fiscal year
FY2021$36K
FY2022Not on file
FY2023Not on file
FY2024$258K
FY2025$534K
Net assets
−$152K
FY2024▼ -214287%
Net assets by fiscal year
FY2021$234K
FY2022−$17K
FY2023−$71
FY2024−$152K
FY2025$1.4M

From the FY2024 Form 990 (year ending June 2024) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 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 Nov 2020.

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

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $223K Management & general 13% · $35K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Jennifer Persson
President and Chairman
$0Pt VII · Sec A
Patrick Scheufler
Secretary and Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mike Davis
Director
$0Pt VII · Sec A

Jennifer Persson’s $12K as President and Chairman is at the 1st percentile of top reported officer pay among 1851 $1–10M environment 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.

See Ocean Grants Foundation 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo
  • Loans to or from officersSch L · Pt II1 listed

Programs and updates

Fundraises and makes grants to support ocean conservation education and other ocean-focused nonprofits.

Provided by the organization

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1 program · $223K · in their own filed words · FY2023
01

See Schedule O

$223Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$106K
Ln 12
Gifts and grantsLn 1h$106K
Money outPt IX
$258K
Ln 25
Programscol B$223K
Managementcol C$35K
Owns and owesPt X
−$152K
net assets · Ln 32
Cash and savingsLn 1–2$23K
Total assetsLn 16$933K
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$106K
Noncash giftsLn 1g$106K
Total revenueLn 12$106K
Assets in detailPt X, end of year
CashLn 1$23K
Cash and savings togetherLn 1–2$23K
Land, buildings, equipmentLn 10c$909K
Total assetsLn 16$933K
LiabilitiesLn 26$1.1M
Net assetsLn 32−$152K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$14K$23K
Land, buildings, equipmentLn 10c$99K$909K
Total assetsLn 16$113K$933K
LiabilitiesLn 26$113K$1.1M
Net assetsLn 32−$71−$152K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$6K$0$6K$0
Accounting feesLn 11c$18K$0$18K$0
Advertising and promotionLn 12$3K$3K$0$0
Office expensesLn 13$1K$0$1K$0
TravelLn 17$350$350$0$0
InsuranceLn 23$6K$0$6K$0
Other expenses (24a–d)Ln 24$223K$220K$3K$0
Total functional expensesLn 25$258K$223K$35K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $1.5M$534K$981K$1.4M 990 PDF
FY2024 Viewing $106K$258K−$152K−$152K 990 PDF
FY2023 $69K−$71 990 PDF
FY2022 $81K−$17K 990 PDF
FY2021 $270K$36K$234K$234K 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 FY2024 990 (5 parts)
Part I · Summary $105,649 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $68,999$105,649
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $68,999$105,649
I-13 Grants and similar amounts paidPrior year $29,500$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $22,552$257,839
I-18 Total expensesPrior year $52,052$257,839
I-19 Revenue less expensesPrior year $16,947−$152,190
Part VIII · Statement of revenue $105,649 across 4 lines filed
VIII-1f All other contributions, gifts and grants$105,649
VIII-1g Noncash contributions (included above)$105,649
VIII-1h Total contributions, gifts and grants$105,649
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$105,649
Part IX · Statement of functional expenses $257,839 across 7 lines filed
IX-11b Legal feesPrograms $0 · Management $6,500 · Fundraising $0$6,500
IX-11c Accounting feesPrograms $0 · Management $18,150 · Fundraising $0$18,150
IX-12 Advertising and promotionPrograms $2,694 · Management $0 · Fundraising $0$2,694
IX-13 Office expensesPrograms $0 · Management $1,006 · Fundraising $0$1,006
IX-17 TravelPrograms $350 · Management $0 · Fundraising $0$350
IX-23 InsurancePrograms $0 · Management $6,397 · Fundraising $0$6,397
IX-24 Other expenses (24a–d)Programs $220,173 · Management $2,569 · Fundraising $0$222,742
IX-25 Total functional expensesPrograms $223,217 · Management $34,622 · Fundraising $0$257,839
Part X · Balance sheet $932,690 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $13,916$23,395
X-4 Accounts receivableStart of year $39$65
X-10c Land, buildings and equipment, netStart of year $99,013$909,230
X-16 Total assetsStart of year $112,968$932,690
X-19 Deferred revenueStart of year $99,014$900,880
X-25 Other liabilitiesStart of year $14,025$184,025
X-26 Total liabilitiesStart of year $113,039$1,084,905
X-27 Net assets without donor restrictionsStart of year −$71−$152,215
X-32 Total net assets or fund balancesStart of year −$71−$152,215
X-33 Total liabilities and net assetsStart of year $112,968$932,690
Part XI · Reconciliation of net assets −$152,215 net assets at year end
XI-1 Total revenue$105,649
XI-2 Total expenses$257,839
XI-3 Revenue less expenses−$152,190
XI-4 Net assets at start of year−$71
XI-8 Prior period adjustments$46
XI-10 Net assets at end of year−$152,215

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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