Ocean Reef Foundation Inc
- Assets
- $43.4m
- Revenue
- $11.5m
- Investments
- $0.0
- Employees
- 3
- Location
- Key Largo, FL
- Founding
- 03/1996
- Data as of
- 10/2020
- EIN
- 65-0509255
Organization Overview
Ocean Reef Foundation Inc is located in Key Largo, FL. The organization was established in 1996. According to its NTEE Classification (T70) the organization is classified as: Federated Giving Programs, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 10/2020, Ocean Reef Foundation Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocean Reef Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 10/2020, Ocean Reef Foundation Inc generated $11.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.9% each year . All expenses for the organization totaled $10.5m during the year ending 10/2020. While expenses have increased by 6.5% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Ocean Reef Foundation Inc has awarded 509 individual grants totaling $44,105,664. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ENHANCE RESPONSIBLE AND EFFECTIVE PHILANTHROPY FOR MEMBERS OF THE OCEAN REEF COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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 QUALIFIED CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yurianna Mikolay Secretary | Officer | 40 | $88,760 |
Tom Davidson Vice Preside | OfficerTrustee | 1 | $0 |
Michael Berman Vice Preside | OfficerTrustee | 1 | $0 |
Alan Goldstein Chairman Eme | OfficerTrustee | 1 | $0 |
Ken Karl Treasurer | OfficerTrustee | 1 | $0 |
Steven Markel President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,029,164 |
| Investment income | $328,680 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $100,563 |
| Net Income from Fundraising Events | -$967,680 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $11,490,995 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $118,668 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $29,522 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $42,325 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,613 |
| Office expenses | $11,194 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $19,486 |
| Travel | $71 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,855 |
| Insurance | $4,251 |
| All other expenses | $0 |
| Total functional expenses | $10,548,631 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,623,062 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $121,531 |
| Investments—publicly traded securities | $12,774,893 |
| Investments—other securities | $0 |
| Investments—program-related | $10,886,175 |
| Intangible assets | $0 |
| Other assets | $16,979,629 |
| Total assets | $43,415,311 |
| Accounts payable and accrued expenses | $309,314 |
| Grants payable | $0 |
| Deferred revenue | $24,878 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $16,935,156 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $17,269,348 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $26,145,963 |
Grants Awarded
Over the last fiscal year, Ocean Reef Foundation Inc has awarded $10,056,518 in support to 124 organizations.
| Grant Recipient | Amount |
|---|---|
Key Largo, FL PURPOSE: COMMUNITY GRANT | $1,540,949 |
Key West, FL PURPOSE: EDUCATION | $1,010,000 |
OCEAN REEF CULTURAL CENTER PURPOSE: COMMUNITY CULTURE | $953,513 |
Key Largo, FL PURPOSE: SOCIAL SERVICE | $515,221 |
Richmond, VA PURPOSE: EDUCATION | $500,000 |
Key Largo, FL PURPOSE: CONSERVATION | $363,892 |
Grants Recieved
Over the last fiscal year, we have identified 11 grants that Ocean Reef Foundation Inc has recieved totaling $453,935.
| Awarding Organization | Amount |
|---|---|
Farmer Family Foundation Cincinnati, OH PURPOSE: EXEMPT PURPOSE OF ORGANIZATION | $102,500 |
Robert B Daugherty Foundation Omaha, NE PURPOSE: PROGRAM SUPPORT | $100,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: PUBLIC, SOCIETAL BENEFIT | $97,435 |
National Christian Charitable Foundation Inc Alpharetta, GA PURPOSE: SUPPORT | $31,000 |
Hamilton Community Foundation Inc Hamilton, OH PURPOSE: GENERAL/OPERATING | $25,000 |
The New Horizons Foundation Inc Colorado Springs, CO PURPOSE: PROGRAM SUPPORT | $25,000 |
Endowment Analysis
| Beg. Balance | $16,181,535 |
| Earnings | -$166,201 |
| Admin Expense | $1,208,308 |
| Net Contributions | $8,669,849 |
| Grants | $6,933,657 |
| Ending Balance | $16,543,218 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
United Way Of Northeast Florida Inc Jacksonville, FL | $41,231,391 | $43,923,077 |
Jewish Federation Of Greater Atlanta Inc Atlanta, GA | $335,156,066 | $46,977,032 |
Jewish Federation Of Palm Beach County Inc West Palm Beach, FL | $188,649,798 | $40,996,005 |
United Way Of Broward County Fort Lauderdale, FL | $30,254,563 | $21,112,252 |
Heart Of Florida United Way Orlando, FL | $52,280,258 | $21,120,938 |
United Way Suncoast Inc Tampa, FL | $59,673,502 | $17,914,764 |
United Jewish Community Of Broward County Inc Davie, FL | $191,632,658 | $32,289,120 |
Jewish Federation Of South Palm Beach County Inc Boca Raton, FL | $220,329,393 | $31,215,392 |
United Way Of Lee County Inc Fort Myers, FL | $10,857,756 | $16,905,483 |
United Way Of Palm Beach County Inc West Palm Beach, FL | $24,619,192 | $14,282,959 |
United Way Of Brevard County Inc Rockledge, FL | $8,481,850 | $14,549,542 |
Ocean Reef Foundation Inc Key Largo, FL | $43,415,311 | $11,490,995 |