Philip Stephenson Foundation
The Philip Stephenson Foundation is a private foundation established in 2005, based in Alexandria, Virginia. The foundation operates as a non-operating private foundation with a focus on marine exploration, ocean conservation, and education initiatives.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$8.0M
+12.0% YoY
Annual Giving
$605K
+9.1% YoY
Grant Count
17
+6.3% YoY
Avg Grant Size
$36K
+2.7% YoY
Under IRS private-foundation payout rules, Philip Stephenson Foundation reported a distributable amount of $400K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation's grantmaking is guided by the FIRST criteria:
- FOCUS on marine exploration, protection and education
- IMPACT of measurable, meaningful results that add value to people's lives and the health of their environment
- REPLICABLE in other locations and/or on a larger scale
- SATISFACTION, even fun, results from the projects undertaken
- TAKING CREDIT for the Foundation, thereby building its brand and inspiring others to invest in marine environment projects
Primary funding areas include ocean conservation, marine exploration, environmental education, and water resource and wetlands conservation and management. The foundation also supports education initiatives and has funded projects including the Trevor & Gino project and The McCain Institute.
The foundation gives preference to institutional partners with 501(c)(3) IRS designations that have established track records, defined terms, and measurable outcomes.
Grantmaking
The foundation has made 54 grants totaling $1.9 million across its history, supporting 26 unique organizations.
Grant Range
$11,000
Average Grant
amount: $35,000
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Geographic Focus
Where this funder awards grants
The foundation funds primarily in Virginia, Maryland, and the District of Columbia, with some activity in California.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total assets: $7,956,700
- Total revenues: $1,317,409
- Total expenses: $784,182
- Number of employees: 1
As of 2023:
- Total assets: $8.2 million
- Total distributions: $714,000
- Total contributions: $399,000
Historical Growth: Total assets have grown from $21,000 in 2011 to $7.1 million in 2023. Annual giving grew from $571,000 in 2021 to $1.3 million in 2022.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $7,956,700 | $7,103,414 | $6,844,858 |
| Revenue | $1,317,409 | $1,005,344 | $309,674 |
| Expenses | $784,182 | $746,788 | $846,284 |
| Qualifying Distributions | $751,164 | $713,606 | $805,850 |
| Net Investment Income | $1,205,182 | $572,893 | $269,240 |
| Distributable Amount | $400,155 | $359,999 | $402,206 |
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
85 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include National Geographic Society ($200,000), Ocean Exploration Trust ($100,000), The Leatherback Project ($77,000).
| Recipient | Purpose | Amount |
|---|---|---|
| NATIONAL GEOGRAPHIC SOCIETY WASHINGTON, DC | NATIONAL GEOGRAPHIC PRISTINE SEAS PROGRAM | $200,000 |
| OCEAN EXPLORATION TRUST NEW LONDON, CT | OCEAN EXPLORATION | $100,000 |
| THE LEATHERBACK PROJECT NORFOLK, MD | GENERAL SUPPORT | $77,000 |
| THE EXPLORERS CLUB NEW YORK, NY | GENERAL SUPPORT | $75,025 |
| THE OO PROJECT INC LOS ALTOS, CA | CONSERVATION AND SCIENCE | $50,000 |
| SSSAS SAINTS FUND ALEXANDRIA, VA | GENERAL SUPPORT | $25,000 |
| THE LANGLEY SCHOOL MCLEAN, VA | EDUCATION | $16,500 |
| THE OCEAN FOUNDATION WASHINGTON, DC | GENERAL SUPPORT | $11,000 |
| LEGACY PHILANTHROPY WORKS SANTA BARBARA, CA | CATCH TOGETHER GENERAL OPERATIONS | $10,000 |
| NATIONAL MARINE SANCTUARY FOUNDATION SILVER SPRING, MD | PRESERVE, PROTECT AND PROMOTE AMERICA'S UNDERWATER TREASURES | $10,000 |
Leadership & Key People
Leadership team and compensation from IRS filings
Board of Trustees:
- Philip Stephenson, Chair
- Charles Stephenson, Trustee
- John P. Dedon, Trustee
- Colin Hart, Trustee
- Kevin Buehler, Trustee
Staff:
- Eugen Babau, Executive Director (30 hours/week, $117,000 compensation)
The Board meets periodically to consider major funding for projects, offer guidance, and review strategy.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| PHILIP STEPHENSON | TRUSTEE | 2 | — |
| CHARLES STEPHENSON | TRUSTEE | 0.5 | — |
| JOHN P DEDON | TRUSTEE | 0.5 | — |
| COLIN HART | TRUSTEE | 0.5 | — |
| EUGEN BABAU | EXECUTIVE DIRECTOR | 30 | $114,660 |
| KEVIN BUEHLER | TRUSTEE | 0.5 | — |
Recent News & Activity
Recent developments and announcements
The foundation has launched the Stephenson Global Prize, a $1 million annual award. The second annual prize is currently open for nominations. The foundation has also established the Stephenson Prize for Innovation in Pancreatic Cancer Research, which received a $150 million gift to City of Hope.
Second Annual $1 Million Stephenson Global Prize Now Open for NominationsThe foundation supports The Explorers Club SEA Program and operates the Stephenson Exploration Advancement Program, providing grants to advance ocean exploration initiatives.
The Explorers Club SEA Program | stephensonfoundationContact Information
Eugen Babau, Executive Director
201 North Union Street, Suite 420 Alexandria, VA 22314, USA
Tel: +1 703 836 2762 Fax: +1 703 836 0001 Email: eugen@freedomcapllc.com
Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Philip Stephenson Foundation fund?
The foundation's grantmaking is guided by the FIRST criteria: • **FOCUS** on marine exploration, protection and education • **IMPACT** of measurable, meaningful results that add value to people's lives and the health of their environment • **REPLICABLE** in other locations and/or on a larger scale • **SATISFACTION**, even fun, results from the projects undertaken • **TAKING CREDIT** for the Foundation, thereby building its brand and inspiring others to invest in marine environment projects Prim…
How do I apply for a grant from Philip Stephenson Foundation?
**Grant Activity:** • Made 18 grants in 2024 • Made 16 grants in 2023 • Total giving in 2024: $604,525 • Median grant size: $11,000 • Grant range: $1,000 to $235,000 • Average grant amount: $35,000 **Recent Grants (2024):** • National Geographic Society (National Geographic Pristine Seas Program): $200,000 • Ocean Exploration Trust (Ocean Exploration): $100,000 • The Explorers Club (General Support): $75,025 **Historical Grant Activity:** The foundation has made 54 grants totaling $1.9 million …
Where does Philip Stephenson Foundation make grants?
The foundation funds primarily in Virginia, Maryland, and the District of Columbia, with some activity in California.
What size grants does Philip Stephenson Foundation award?
In 2024, Philip Stephenson Foundation awarded 17 grants totaling $605K — an average of about $36K per grant, based on its IRS Form 990 filings.
How much is Philip Stephenson Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Philip Stephenson Foundation reported a distributable amount of $400K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Philip Stephenson Foundation's EIN?
Philip Stephenson Foundation's EIN (Employer Identification Number) is 54-6669190. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Philip Stephenson Foundation's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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