Ocean Reef Foundation Inc

Analysis

Ocean Reef Foundation Inc is a registered charity in United States, based in Key Largo, FL. It received its IRS tax-exemption ruling in March 1996, 30 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending October 2023, Ocean Reef Foundation Inc reported income of $22.4m and spending of $15.7m, leaving 30% of income unspent that year. Across the 5 years on record, from October 2019 to October 2023, income grew from $11.8m to $22.4m (+91%), an average of +18% a year. The sharpest change came in the year to October 2022, when income rose by 89%. Over the whole period it spent 58% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Ocean Reef Foundation Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within FL. Charities of a similar size with the same main cause include Create Foundation Inc ($22.2m), FFWD ($22.5m) and Heart of Florida United Way ($22.2m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 94% of the total. Other salaries and wages came to $405k. At year end it held assets of $83.5m against liabilities of $21.7m, net assets of $61.8m. It reported 4 employees.