Lee Oceans Foundation
Lee Oceans Foundation is a private foundation, 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.
Lee Oceans Foundation at a glance
In short: Lee Oceans Foundation gave $102K across 3 grants in 2024 (avg $34K), mostly in California. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $102,427
- +22.5% vs 2023
- Grants made (2024)
- 3
- +200.0% vs 2023
- Average grant
- $34,142
- -59.2% vs 2023
- Median grant
- $10,000
- Total assets
- $2,990,283
- -0.5% vs 2023
- Primary geography
- California (100% of itemized 2024 grant dollars)
- Latest 990 filing
- Form 990-PF, 2024 View filing
Data from IRS Form 990-PF, 2024; updated September 2026.
Who Lee Oceans Foundation funds
How this funder distributes its grants
Top Recipients
Top 3 recipients in 2024
The largest 2024 recipient was Morgan Stanley Global Impact Funding Trust Inc ($91K). Together the top 3 received $102K.
Grant Size Distribution
4 grants across all recorded years
The most common grant size was under $50K: 2 grants of 4 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 3 itemized grants.
States
Cities
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.
Giving History
Giving Over Time
Total grant dollars and number of grants per year
From 2023 to 2024, annual grant giving ranged from $84K (2023) to $102K (2024). In 2024 it made 3 grants totaling $102K.
Grants by year
Grant recipients and amounts by year
| 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 |
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Financial History
Multi-year comparison from IRS filings
| Filing year | Total Assets | Revenue | Expenses | Grants paid | Grants | Qualifying Distributions | Net Investment Income | Distributable Amount |
|---|---|---|---|---|---|---|---|---|
| 2024 | $2,990,283 | $115,288 | $147,115 | $102,427 | 3 | $143,137 | $112,795 | $161,535 |
| 2023 | $3,005,096 | $92,053 | $135,642 | $83,614 | 1 | $131,961 | $99,616 | $144,932 |
| 2022 | $3,047,372 | $92,723 | $46,871 | — | — | $43,060 | $91,660 | $141,149 |
| 2021 | $3,001,520 | $3,054,554 | $53,034 | — | — | $10,592 | $3,035,032 | $40,355 |
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.
Leadership & Key People
Officers and directors from IRS filings
Lee Oceans Foundation is led by Robert Lee, Director, President, Secretary & Treasurer on every filing since 2021; none of the 2 officers listed in 2024 report compensation.
Officers on the 2024 filing
Robert Lee
Director, President, Secretary & Treasurer
On filings since 2021
1 hr/week
No compensation reported
Allison Lee
Director
On filings since 2021
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2021–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Frequently asked questions about Lee Oceans Foundation
How much does Lee Oceans Foundation give each year?
Lee Oceans Foundation gave $102K across 3 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $84K across 1 grant.
What is Lee Oceans Foundation's typical grant size?
Lee Oceans Foundation's median grant in 2024 was $10,000, and its average grant was $34,142, across 3 grants on its 2024 IRS Form 990-PF.
Where does Lee Oceans Foundation give grants?
Lee Oceans Foundation gives mostly in California: 100% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there.
Does Lee Oceans Foundation give general operating support?
Yes: 100% of Lee Oceans Foundation's 2024 grants with a stated purpose (3 of 3) were for general or operating support, per its 2024 IRS Form 990-PF.
How large is Lee Oceans Foundation?
Lee Oceans Foundation reported $3.0M in total assets on its 2024 IRS Form 990-PF. It paid out $143K in qualifying distributions that year, against a required minimum of $162K (roughly 5% of its investment assets). Falling short in one year is not a violation: foundations have until the end of the next year to meet the minimum.
What is Lee Oceans Foundation's EIN?
Lee Oceans Foundation's EIN (Employer Identification Number) is 87-0885641. IRS Form 990 filing data is available on this page for 2021–2024.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
Data update history
(1)
When this profile's IRS filing data changed on Grantable
- IRS filings on file for fiscal years 2021–2024
Live grants for the work Lee Oceans Foundation funds
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