Lee Oceans Foundation

Foundation · Grantmaker Wilmington, DE EIN: 87-0885641

Lee Oceans Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Wilmington, DE. IRS filing data is available from 2021 through 2024. As of 2024, the organization holds $3.0M in total assets. In 2024, it awarded 3 grants totaling $102K. Net investment income was $113K.

Key facts about Lee Oceans Foundation

EIN: 87-0885641
Latest 990 filing: Form 990-PF, 2024
Annual giving (2024): $102,427
Grants made (2024): 3
Average grant: $34,142
Median grant: $10,000
Total assets: $2,990,283
Primary geography: California (100% of itemized 2024 grant dollars)

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

Who Lee Oceans Foundation funds

By grant dollars, the top recipient states for Lee Oceans Foundation's 3 itemized 2024 grants were California (100%). 100% of grants with a stated purpose were for general or operating support.

How Lee Oceans Foundation gives

In 2024 it paid out 89% of its IRS minimum distribution (the 5% rule). Foundations have until the end of the next year to meet it. Method

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

Next steps with Lee Oceans Foundation

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Financial Overview

From 2024 IRS Form 990-PF · View filing

Total Assets

$3.0M

-0.5% YoY

Annual Giving

$102K

+22.5% YoY

Grant Count

+200.0% YoY

Avg Grant Size

$34K

-59.2% YoY

Under IRS private-foundation payout rules, Lee Oceans Foundation reported a distributable amount of $162K for 2024 — the minimum it must pay out in qualifying distributions.

About Lee Oceans Foundation

Based on IRS filings

Focus Areas

Philanthropy, Voluntarism & Grantmaking

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

California $102K (100%)

Share of all 3 itemized 2024 grant dollars.

States

California

Cities

San FranciscoMontereyPetaluma

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2024	2023	2022
Total Assets	$2,990,283	$3,005,096	$3,047,372
Revenue	$115,288	$92,053	$92,723
Expenses	$147,115	$135,642	$46,871
Qualifying Distributions	$143,137	$131,961	$43,060
Net Investment Income	$112,795	$99,616	$91,660
Distributable Amount	$161,535	$144,932	$141,149

Data update history

When this profile's IRS filing data changed on Grantable

March 3, 2026 IRS filings on file for fiscal years 2021–2024

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 3 recipients in 2024

Grant Size Distribution

4 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2024 grants, the largest recipients include Morgan Stanley Global Impact Funding Trust Inc ($91,427), Cordell Marine Sanctuary Foundation ($10,000), Monterey Bay Aquarium Foundation ($1,000).

Recipient	Purpose	Amount
MORGAN STANLEY GLOBAL IMPACT FUNDING TRUST INC San Francisco, CA	General & Unrestricted (SEE GENERAL EXPLANATION ATTACHMENT)	$91,427
CORDELL MARINE SANCTUARY FOUNDATION Petaluma, CA	General & Unrestricted	$10,000
MONTEREY BAY AQUARIUM FOUNDATION Monterey, CA	General & Unrestricted	$1,000

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
Allison Lee	Dir	1	—
Robert Lee	Dir, Pres, Sec, Treas	1	—

Subject Areas

Focus areas based on grantmaking activity

Philanthropy, Voluntarism & Grantmaking

Frequently Asked Questions

What is Lee Oceans Foundation?

Lee Oceans Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Wilmington, DE. It holds $3.0M in total assets as of 2024.

How large is Lee Oceans Foundation?

As of 2024, Lee Oceans Foundation holds $3.0M in total assets with $115K in annual revenue. It awarded 3 grants totaling $102K in 2024.

Where does Lee Oceans Foundation operate?

Lee Oceans Foundation has awarded grants in California.

What size grants does Lee Oceans Foundation award?

In 2024, Lee Oceans Foundation awarded 3 grants totaling $102K — an average of about $34K per grant, based on its IRS Form 990 filings.

How much is Lee Oceans Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2024, Lee Oceans Foundation reported a distributable amount of $162K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.