The Ocean Foundation

EIN: 710863908 501(c)(3) Environment

Washington, DC

Total Revenue
$13,196,134
Total Expenses
$15,812,467
Total Assets
$17,747,319
Net Assets
$16,331,816
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2001
Legal Domicile
DC
Principal Officer
Mark J Spalding
Phone
2028878996
Tax Period
2024-07-01 to 2025-06-30

The Ocean Foundation, founded in 2001, is a mid-sized nonprofit in the Environment sector that reported $13.2M in total revenue in fiscal year 2024. Revenue fell 30% from the prior year — a significant decline worth monitoring. Expenses of $15.8M exceeded revenue, resulting in a 20% operating deficit.

Mission

To improve global ocean health, climate resilience, and the blue economy. We create partnerships to connect people in the communities in which we work to the informational, technical, and financial resources they need to achieve their ocean stewardship goals.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $12,160,757
Program Service Revenue $970,251
Investment Income $14,460
Other Revenue $50,666
TOTAL REVENUE $13,196,134

Expense Breakdown

Grants Paid $3,869,109
Salaries & Benefits $3,378,773
Fundraising Expenses $96,027
Program Expenses $14,157,258
Other Expenses $8,564,585
TOTAL EXPENSES $15,812,467

Year-over-Year Comparison

2024 2023 Change
Revenue $13,196,134 $18,847,028 -0.3%
Expenses $15,812,467 $18,826,931 -0.2%
Net Income $-2,616,333 $20,097 -131.2%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Governance

Voting Members
14
Independent Members
13
Employees
47
Volunteers
13

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
5
$293,265
Total Directors
15
$293,265
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Mark J Spalding President 60.00
Officer Director
$271,551 $21,714 $293,265
Elliot S Cafritz Chairman (on leave) 1.00
Officer Director
$0 $0 $0
Joshua Ginsberg Chairman 1.00
Officer Director
$0 $0 $0
Angel E Braestrup Secretary 1.00
Officer Director
$0 $0 $0
Thomas Brigandi Treasurer 1.00
Officer Director
$0 $0 $0
Patrick Flynn Director 1.00
Director
$0 $0 $0
Olha Krushelnytska Director 1.00
Director
$0 $0 $0
Imani Fairweather Morrison Director 1.00
Director
$0 $0 $0
Lumay Wang Murphy Director 1.00
Director
$0 $0 $0
Denise Naguib Director 1.00
Director
$0 $0 $0
Russell F Smith Director 1.00
Director
$0 $0 $0
Karen Thorne Director 1.00
Director
$0 $0 $0
Ed Tillinghast III Director 1.00
Director
$0 $0 $0
Lisa Volgenau Director 1.00
Director
$0 $0 $0
Rolando Morillo Director (JUL - SEPT) 1.00
Director
$0 $0 $0
Shana Miller Program Director 40.00
Highest
$168,629 $1,208 $169,837
Erica Nunez Program Director 40.00
Highest
$136,630 $16,456 $153,086
Benjamin Scheelk Program Director 40.00
Highest
$130,100 $9,498 $139,598
Mia Shade Human Resources Officer 40.00
Highest
$123,026 $10,999 $134,025
Tamika Washington Fin. & Ops. Director 40.00
Highest
$118,546 $12,297 $130,843
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $13,196,134 $15,812,467 $17,747,319 $-2,616,333
2024 No data No data No data No data
2023 $18,854,739 $15,869,946 $21,935,882 $2,984,793
2023 $15,185,892 $15,947,473 $18,251,302 $-761,581
2022 $11,796,534 $11,541,472 $16,715,684 $255,062
2021 $9,142,772 $8,502,759 $16,392,830 $640,013
2020 $18,510,600 $8,760,634 $15,351,389 $9,749,966
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