Oceanfirst Foundation
OceanFirst Foundation is a private grantmaking foundation established in 1996 in Toms River, New Jersey. The foundation was created following the conversion of Ocean Federal Savings Bank to stock form, with an initial endowment of $13.4 million approved by OceanFirst Bank depositors. As a company-sponsored foundation, OceanFirst Foundation operates to support nonprofits serving communities within the OceanFirst Bank footprint across central and southern New Jersey.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$8.8M
-17.0% YoY
Annual Giving
$1.5M
-35.7% YoY
Grant Count
662
-1.0% YoY
Avg Grant Size
$2K
-35.1% YoY
Mission & Focus Areas
OceanFirst Foundation's mission is to "empower nonprofits to think bigger, solve more problems, and make life better" in the communities it serves.
The foundation prioritizes funding in the following areas:
- Supporting Housing Solutions
- Investing in Higher Education
- Improving Health and Wellness
- Empowering the Next Generation
- Advancing Economic Stability and Mobility
- Civic Engagement and Social Impact
Since its inception, the foundation has awarded more than $39 million in grants, with recent distributions exceeding $45 million across housing, youth development and education, health and wellness, and the arts.
Grantmaking
The foundation accepts applications for multiple grant offerings with different avenues for event sponsorships, scholarships, and grants over or under $5,000. Organizations should review specific program guidelines carefully before applying.
Grant Types
How to Apply
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Geographic Focus
Where this funder awards grants
OceanFirst Foundation serves 12 counties in New Jersey:
Atlantic, Burlington, Camden, Cape May, Cumberland, Gloucester, Mercer, Middlesex, Monmouth, Ocean, Somerset, and Union counties.
Organizations located outside this service area must contact the foundation to confirm eligibility before applying.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Giving (2024):
- Total assets: $8,841,927
- Total giving: $1,534,866
- Total revenues: $685,828
- Total expenses: $2,513,921
Historical Assets (2023):
- Total assets: $10.7 million
- Total liabilities: $2.25 million
- Revenue: $876,000
- Expenses: $3.12 million
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $8,841,927 | $10,650,020 | $10,875,786 |
| Revenue | $685,828 | $876,492 | $1,974,319 |
| Expenses | $2,513,921 | $3,123,858 | $2,507,537 |
| Qualifying Distributions | $2,490,002 | $3,094,667 | $2,483,901 |
| Net Investment Income | $676,110 | $863,891 | $1,968,451 |
| Distributable Amount | $707,833 | $739,115 | $944,708 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
5 open opportunities from Oceanfirst Foundation
General Operating / Flexible Support Grants
OCEANFIRST FOUNDATION
Amount
Varies
Deadline
Rolling / Open
Home Runs for Heroes Grants
OCEANFIRST FOUNDATION
Amount
More than US $1,000
Deadline
Rolling / Open
JOIN! Grants
OCEANFIRST FOUNDATION
Amount
Up to US $2,500
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Officers and directors from IRS filings
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| CHRISTOPHER D MAHER | PRESIDENT/CHAIRMAN | 1.75 | — |
| MICHAEL J FITZPATRICK | TREASURER | 1.75 | — |
| KATHERINE B DURANTE | SECRETARY/EXECUTIVE DIRECTOR | 40 | $286,801 |
| JOHN F BARROS | DIRECTOR | 1.75 | — |
| JAMES M BOLLERMAN | DIRECTOR | 1.75 | — |
| JACK M FARRIS | DIRECTOR | 1.75 | — |
| KIMBERLY GUADAGNO ESQ | DIRECTOR | 1.75 | — |
| LORI S HERNDON | DIRECTOR | 1.75 | — |
| JOSEPH M KYRILLOS | DIRECTOR | 1.75 | — |
| JOSEPH J LEBEL | DIRECTOR | 1.75 | — |
| JUDITH LEONE | DIRECTOR | 1.75 | — |
| JOSEPH M MURPHY JR | DIRECTOR | 1.75 | — |
| ROBERT A PREVITI | DIRECTOR | 1.75 | — |
| DIANE RHINE | DIRECTOR | 1.75 | — |
| GRACE C TORRES | DIRECTOR | 1.75 | — |
| JOHN E WALSH | DIRECTOR | 1.75 | — |
| DAVID WINTRODE | DIRECTOR | 1.75 | — |
| SAMUEL R YOUNG | DIRECTOR | 1.75 | — |
| ROBIN ZAGER | DIRECTOR | 1.75 | — |
Recent Activity
Recent developments and announcements
The foundation continues to expand its grantmaking initiatives. Recent grant recipients include Rowan University Foundation, Brookdale Community College Foundation Trust, and Ocean County College Foundation, each receiving $30,000 for 2024 scholarship programs. The foundation also awarded $719,000 in grants to 104 nonprofits in a recent funding cycle.
- OceanFirst Foundation JOIN! Initiative 2026: Empowering Civic ...The JOIN! Initiative, announced in December 2024, represents a continued focus on civic engagement and community impact, with grants available on a rolling basis through 2026 to organizations demonstrating strong mission alignment with the foundation's funding priorities.
- OceanFirst Foundation JOIN! Initiative 2026: Empowering Civic ...Contact Information
Address: 975 Hooper Ave. Toms River, NJ 08753
Phone: (732) 341-4676
Email: info@oceanfirstfdn.org
Website: www.oceanfirstfdn.org
Subject Areas
Focus areas based on grantmaking activity
Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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