Devereux Ocean Foundation Inc
- Assets
- $7.3m
- Revenue
- $301.3k
- Investments
- $5.6m
- Employees
- 0
- Location
- Jamestown, RI
- Founding
- 02/2019
- Data as of
- 12/2023
- 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 12/2023, Devereux Ocean Foundation Inc generated $301.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (40.7%) each year. All expenses for the organization totaled $699.1k during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Devereux Ocean Foundation Inc has awarded 26 individual grants totaling $1,098,595. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
OCEAN EDUCATION: 3 ORGANIZATIONS
CORAL REEF AND MARINE MAMMALS RESEARCH RESCUE AND RESTORATION AND
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Grosby Pres | 20 | $138,000 | |
Suzanne Grosby CFO | 10 | $62,100 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,500 |
| Interest on Savings | $0 |
| Dividends & Interest | $154,149 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $145,624 |
| Capital Gain Net Income | $145,623 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $301,273 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $200,100 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,155 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $188,553 |
| Total operating and administrative expenses | $433,648 |
| Contributions, gifts, grants paid | $265,500 |
| Total expenses and disbursements | $699,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,552 |
| Savings and temporary cash investments | $158,107 |
| 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 | $627,609 |
| Other assets | $842,795 |
| Total assets | $7,254,769 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Devereux Ocean Foundation Inc has awarded $265,500 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
THE HOTCHKISS SCHOOL PURPOSE: CONTRIBUTION | $10,000 |
ROZALIA PROJECT PURPOSE: GENERAL DISCRETIONARY ACCOUNTS | $2,500 |
UNIVERSITY OF RHODE ISLAND GSO PURPOSE: FUNDING TO PROVIDE STIPENDS FOR TEACHERS TO DEVELOP OCEAN CLASSROOM CURRICULUM MATERIALS FOR K-12 CLASSROOMS. PROVIDE FUNDS TO FACILITATE ARCHIVAL RETREIVAL OF VISUAL MATERIALS FOR THE CURRICULUM DEVELOPMENT. RESEARCH AND DEVELOPMENT OF TOOLS TO FACILITATE THE DELIVERY OF GSO RESEARCH AND KNOWLEDGE TO THE GENERAL PUBLIC | $50,000 |
FRIENDS OF THE ENVIRONMENT PURPOSE: GENERAL GRANTS TO SUPPORT OCEAN EDUCATION AMONGST THE PEOPLE OF THE BAHAMAS. TRAINING OF LOCAL FISHERS TO RECOGNIZE SPECIES THAT ARE SAFE ALTERNATIVES TO ENDANGERED SPECIES OR SPECIES CRITICAL TO REEF HABITAT. | $60,000 |
BAHAMAS MARINE MAMMAL RESEARCH PURPOSE: GRANT FOR RESEARCH INTO NOISE AND SHIP COLLISION IN THE NORTHWEST PROVIDENCE PASSAGE NEAR THE SOUTH ABACO SPERM WHALE NURSERY. A POPULATION SURVEY OF MAMMALS IN THE SEA OF ABACO | $68,000 |
PERRY INSTITUTE FOR MARINE SCIENCE PURPOSE: GRANT TO SUPPORT EFFORTS TO CURTAIL THE SPREAD OF SPINEY CORAL TISSUE LOSS DISEASES. CORAL RESTORATION GRANTS AND REEF HEALTH SURVEYS THROUGH OUT THE BAHAMAS. | $75,000 |