Ocean Foundation

Analysis

Ocean Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in May 2002, 24 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. 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 June 2023, Ocean Foundation reported income of $15.2m and spending of $15.9m, spending 105% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income fell from $18.5m to $15.2m (-18%), an average of -6.4% a year. The sharpest change came in the year to June 2021, when income dropped by 51%. Over the whole period it spent 82% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Ocean Foundation 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 96th percentile, and in the 91st percentile within DC. Charities of a similar size with the same main cause include Ocean Exploration Trust Inc ($15.0m), Treepeople Inc ($15.2m) and Western Conservation Foundation ($15.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 89% and program service revenue 9.4% of the total. Compensation of current officers, directors and key employees was $534k (3.4% of expenses). Other salaries and wages came to $3.2m. At year end it held assets of $18.3m against liabilities of $3.2m, net assets of $15.1m. It reported 50 employees.