Devereux Ocean Foundation Inc
- Assets
- $7.4m
- Revenue
- $349.5k
- Investments
- $6.7m
- Employees
- 0
- Location
- Jamestown, RI
- Founding
- 02/2019
- Data as of
- 12/2020
- EIN
- 82-4193252
Organization Overview
Devereux Ocean Foundation Inc is located in Jamestown, RI. The organization was established in 2019. According to its NTEE Classification (T90) the organization is classified as: Named Trusts N.E.C., under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Devereux Ocean 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 12/2020, Devereux Ocean Foundation Inc generated $349.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 2 years, the organization has seen revenues fall by an average of (70.8%) each year. All expenses for the organization totaled $961.3k during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Grosby Pres Dir | 40 | $118,064 | |
Suzanne Grosby Treas Dir | 0 | $51,919 | |
Paul Beard Director | 0 | $2,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $5,292 |
| Interest on Savings | $458 |
| Dividends & Interest | $158,932 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $184,838 |
| Capital Gain Net Income | $126,033 |
| Net ST Capital Gain | $58,805 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $349,520 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $165,900 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $2,599 |
| Taxes | $5,606 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $901 |
| Printing and publications | $0 |
| Other expenses | $520,558 |
| Total operating and administrative expenses | $733,202 |
| Contributions, gifts, grants paid | $228,110 |
| Total expenses and disbursements | $961,312 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,520 |
| Savings and temporary cash investments | $124,137 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $509,042 |
| Other assets | $0 |
| Total assets | $7,367,276 |
| Accounts payable and accrued expenses | $140 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $385,000 |
| Other liabilities | $0 |
| Total liabilities | $385,140 |
Grants Awarded
Over the last fiscal year, Devereux Ocean Foundation Inc has awarded $228,110 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
BAHAMAS MARINE MAMMALS RO PURPOSE: STUDENT EDUCATION OF WHALES RESEARCH INTERACTION OF SPERM WHALES AND COMMERICAL MARINE TRAFFIC IN THE VICINITY OF HOLE IN THE WALL ABACO | $60,610 |
PERRY INSTITUTE OF MARINE SCIENCE PURPOSE: POST HURRICANE DORIAN CORAL REEF RESEARCH MAPPING SURVEY AND RESTORATION | $60,000 |
FRIENDS OF THE ENVIRONMENT PURPOSE: GENERAL OPERATING FUNDS AND MAINTENANCE OF CORAL REEFS. | $55,000 |
UNIVERSITY OF RHODE ISLAND PURPOSE: DEVELOPMENT OF OCEAN SCIENCE CURRICULUM FOR K-12 STUDENTS | $50,000 |
West Palm Beach, FL PURPOSE: SHARK RESEARCH | $2,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Harold Grinspoon Foundation Agawam, MA | $968,665,027 | $58,159,410 |
Halvorsen Family Foundation Greenwich, CT | $235,306,066 | $4,015,208 |
Lynch Foundation Boston, MA | $176,006,196 | $42,142,694 |
Lyford Cay Foundation Inc Greenwich, CT | $29,953,842 | $2,393,799 |
Wings For Things Foundation Inc Sandy Hook, CT | $31,046,537 | $6,302,092 |
Trustees Under The Will Of Herman Dana Newton, MA | $0 | $3,151,156 |
Herman And Frieda L Miller Foundation Boston, MA | $0 | $1,453,299 |
Hometown Foundation Inc Cheshire, CT | $4,638,062 | $3,709,489 |
Elizabeth Deblois Charitable Trust Dtd 113068 Boston, MA | $42,663,522 | $5,064,165 |
Maria Seymour Brooker Memorial Inc Torrington, CT | $41,917,935 | $4,321,077 |
Jobson Family Foundation Wellesley, MA | $38,480,789 | $7,536,069 |
Scott A Nathan Charitable Tr Boston, MA | $6,622,498 | $4,024 |