Otter Cove Foundation
Otter Cove Foundation is a private foundation, based in Carmel, CA. IRS filing data is available from 2020 through 2024. As of 2024, the organization holds $9.4M in total assets. In 2024, it awarded 4 grants totaling $325K. Net investment income was $1.3M.
Otter Cove Foundation at a glance
In short: Otter Cove Foundation gave $325K across 4 grants in 2024 (avg $81K), mostly in California. Source: 2024 IRS Form 990-PF.
- Annual giving (2024)
- $325,000
- -30.1% vs 2023
- Grants made (2024)
- 4
- -55.6% vs 2023
- Average grant
- $81,250
- +57.3% vs 2023
- Median grant
- $100,000
- Total assets
- $9,394,757
- +10.6% vs 2023
- Primary geography
- California (69% 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 Otter Cove Foundation funds
How this funder distributes its grants
Top Recipients
Top 4 recipients in 2024
The largest 2024 recipient was Stevenson School ($100K). Together the top 4 received $325K.
Grant Size Distribution
32 grants across all recorded years
The most common grant size was under $50K: 16 grants of 32 (50%).
Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of 2024 grant dollars across all 4 itemized grants.
States
Cities
How Otter Cove Foundation gives
- Giving grew 48% from 2021 to 2024. Method
- In 2024 it paid out 56% 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 2020 to 2024, annual grant giving ranged from $220K (2021) to $465K (2023). In 2024 it made 4 grants totaling $325K.
Grants by year
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Stevenson School Pebble Beach, CA | TO SUPPORT THE ADVANCEMENT OF EDUCATION, Scholarship program | $100,000 |
| Think Wild Bend, OR | Think Wild provides a wildlife support system in Central Oregon | $100,000 |
| The Marine Mammal Center Sausalito, CA | Marine mammal rescue and rehabilitation, research and education | $100,000 |
| Community Foundation for Monterey C Monterey, CA | To support programs in the local community | $25,000 |
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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 | $9,394,757 | $1,291,614 | $394,440 | $325,000 | 4 | $374,152 | $1,271,326 | $669,721 |
| 2023 | $8,497,603 | $627,101 | $536,758 | $465,000 | 9 | $515,256 | $605,599 | $579,393 |
| 2022 | $8,407,260 | $196,425 | $543,731 | $460,000 | 8 | $511,115 | $626,851 | $593,625 |
| 2021 | $8,754,566 | $1,110,612 | $300,254 | $220,000 | 5 | $271,169 | $1,081,527 | $650,160 |
| 2020 | $7,944,208 | $839,892 | $377,255 | $300,000 | 6 | — | $817,059 | $489,563 |
Under IRS private-foundation payout rules, Otter Cove Foundation reported a distributable amount of $670K for 2024 — the minimum it must pay out in qualifying distributions.
Leadership & Key People
Officers and directors from IRS filings
Otter Cove Foundation is led by James P. Read Jr., President on every filing since 2020; 1 of 4 officers listed in 2024 is compensated.
Officers on the 2024 filing
James P. Read Jr.
President
On filings since 2020
3 hrs/week
No compensation reported
Gilan M. Read
Director & CFO
On filings since 2020
25 hrs/week
$55K (2020) → $55K (2024)
Megan G. Lindberg
Director
On filings since 2020
3 hrs/week
No compensation reported
Mark Plumley
Secretary
On filings since 2020
1 hr/week
No compensation reported
Data from IRS Form 990 filings, 2020–2024. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2024 IRS filing
The highest reported compensation on the 2024 filing was $55K, to Gilan M Read (Director/CFO).
Frequently asked questions about Otter Cove Foundation
How much does Otter Cove Foundation give each year?
Otter Cove Foundation gave $325K across 4 grants in 2024, according to its 2024 IRS Form 990-PF. In 2023 it gave $465K across 9 grants.
What is Otter Cove Foundation's typical grant size?
Otter Cove Foundation's median grant in 2024 was $100,000, and its average grant was $81,250, across 4 grants on its 2024 IRS Form 990-PF.
Where does Otter Cove Foundation give grants?
Otter Cove Foundation gives mostly in California: 69% of the grant dollars itemized on its 2024 IRS Form 990-PF went to recipients there. The next largest state was Oregon (31%).
Does Otter Cove Foundation give general operating support?
Not in 2024: none of the 4 grants with a stated purpose on Otter Cove Foundation's 2024 IRS Form 990-PF were described as general or operating support.
How large is Otter Cove Foundation?
Otter Cove Foundation reported $9.4M in total assets on its 2024 IRS Form 990-PF. It paid out $374K in qualifying distributions that year, against a required minimum of $670K (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 Otter Cove Foundation's EIN?
Otter Cove Foundation's EIN (Employer Identification Number) is 94-3287969. IRS Form 990 filing data is available on this page for 2020–2024.
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 2020–2024
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