Coral Reef Foundation

Foundation · Grantmaker New York, NY EIN: 74-1969035

Arts and culture

Coral Reef Foundation is a private foundation focused on Arts and culture, based in New York, NY. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $26K in total assets. In 2024, it awarded 2 grants totaling $390K. Net investment income was $19.

Key facts about Coral Reef Foundation

EIN: 74-1969035
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $390,000
Grants made (2024): 2
Average grant: $195,000
Median grant: $195,000
Total assets: $25,709
Primary geography: New York (100% of itemized 2024 grant dollars)

Data from IRS Form 990-PF, 2024; updated September 2026.

How Coral Reef Foundation gives

Giving fell 81% from 2021 to 2024. Method
In 2024 it paid out well above its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$26K

-53.5% YoY

Annual Giving

$390K

-2.5% YoY

Grant Count

+0.0% YoY

Avg Grant Size

$195K

-2.5% YoY

Under IRS private-foundation payout rules, Coral Reef Foundation reported a distributable amount of $2K for 2024 — the minimum it must pay out in qualifying distributions.

About Coral Reef Foundation

Based on IRS filings

Focus Areas

Arts and culture

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

New York $390K (100%)

Share of all 2 itemized 2024 grant dollars.

States

New York

Cities

New York

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$25,709	$55,295	$89,615
Revenue	$380,019	$390,018	$20,700,010
Expenses	$409,605	$424,338	$20,816,980
Qualifying Distributions	$409,605	$424,338	$20,816,980
Net Investment Income	$19	$18	$10
Distributable Amount	$2,315	$3,959	$37,747

Data update history

When this profile's IRS filing data changed on Grantable

March 2, 2026 IRS filings on file for fiscal years 2020–2024

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 1 recipients in 2024

Grant Size Distribution

9 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include The Metropolitan Museum of Art ($390,000 across 2 grants).

Recipient	Purpose	Amount
THE METROPOLITAN MUSEUM OF ART New York, NY	TO BE ADDED TO A PREVIOUSLY ESTABLISHED ENDOWMENT FUND AT THE METROPOLITAN MUSEUM OF ART	$380,000
THE METROPOLITAN MUSEUM OF ART New York, NY	GENERAL SUPPORT	$10,000

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

No officer or director reported compensation in the available filings.

From 2024 IRS filing

Name	Title	Hours	Compensation
Beverly F Chase	MMBR/Dir/PRES&TREASURER	4	—
Olga Mullakandova	Secretary	1	—

Subject Areas

Focus areas based on grantmaking activity

Arts and culture

Frequently Asked Questions

What is Coral Reef Foundation?

Coral Reef Foundation is a private foundation focused on Arts and culture, based in New York, NY. It holds $26K in total assets as of 2024.

How large is Coral Reef Foundation?

As of 2024, Coral Reef Foundation holds $26K in total assets with $380K in annual revenue. It awarded 2 grants totaling $390K in 2024.

Where does Coral Reef Foundation operate?

Coral Reef Foundation has awarded grants in New York.

What size grants does Coral Reef Foundation award?

In 2024, Coral Reef Foundation awarded 2 grants totaling $390K — an average of about $195K per grant, based on its IRS Form 990 filings.

How much is Coral Reef Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Coral Reef Foundation reported a distributable amount of $2K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.