Towle Ocean Conservation Foundation
- Assets
- $1.0m
- Revenue
- $85.5k
- Investments
- $940.5k
- Employees
- 0
- Location
- Wilmington, DE
- Founding
- 02/2016
- Data as of
- 12/2023
- EIN
- 47-4038250
Organization Overview
Towle Ocean Conservation Foundation is located in Wilmington, DE. The organization was established in 2016. According to its NTEE Classification (C12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Towle Ocean Conservation Foundation 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, Towle Ocean Conservation Foundation generated $85.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.7%) each year. All expenses for the organization totaled $33.9k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (4.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Towle Ocean Conservation Foundation has awarded 12 individual grants totaling $167,441. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher J Towle Pres, Dir, Sec, Treas | 8 | $0 | |
Erica K Towle VP | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $60,000 |
| Interest on Savings | $262 |
| Dividends & Interest | $27,284 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | -$2,071 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $85,475 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $678 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $8,230 |
| Total operating and administrative expenses | $8,908 |
| Contributions, gifts, grants paid | $25,000 |
| Total expenses and disbursements | $33,908 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $81,106 |
| 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 | $0 |
| Other assets | $0 |
| Total assets | $1,021,579 |
| 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, Towle Ocean Conservation Foundation has awarded $58,941 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
BENEATH THE WAVES INC PURPOSE: FUNDS FOR RESEARCH COSTS ASSOCIATED WITH SEAGRASS AREA DATA COLLECTION AND RESEARCH LEADING TO MARINE PROTECTED AREA | $10,000 |
CENTER FOR COASTAL STUDIES INC PURPOSE: TO PURCHASE MARINE EQUIPMENT AND FOR MARINE PROGRAMS: FLIGHT SUIT, LAPTOP COMPUTERS, LIFE JACKETS, LIFE JACKET HARNESS SETS, BOMBER FLOTATION JACKETS; RIGHT WHALE RESEARCH / RW INDEX SITE FIDELITY RESEARCH; MARINE DISENTANGLEMENT (MAER) | $23,941 |
UNIVERSITY OF MIAMI PURPOSE: BG002353-RSMAS MARINE OPERATIONS FUND | $25,000 |