The Water Cove Charitable Foundation
The Water Cove Charitable Foundation is a private independent foundation established in 1999 and granted tax-exempt status in November 2000. Based in Naples, Florida, the foundation operates as a grantmaking organization that does not engage in direct charitable activities. Instead, it provides financial support to other charitable organizations exempt under Section 501(c)(3) of the Internal Revenue Code.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$16.2M
+15.8% YoY
Annual Giving
$1.8M
+38.0% YoY
Grant Count
28
+21.7% YoY
Avg Grant Size
$65K
+13.3% YoY
Under IRS private-foundation payout rules, The Water Cove Charitable Foundation reported a distributable amount of $870K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation primarily funds grantmaking related to health, diseases, and medical research. According to tax records, the foundation also earmarks funds for education and youth organizations. The foundation does not maintain a public website or formally announce its funding priorities, maintaining a low public profile.
Grantmaking
The foundation makes grants to pre-selected organizations. Recent grants documented include:
How to Apply
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Geographic Focus
Where this funder awards grants
The foundation's grantmaking focuses primarily on Massachusetts, Florida, and Maine.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $16,209,685
- Total Revenue: $4,250,408
- Total Expenses: $1,969,361
- Total Giving: $1,833,238
- Number of Employees: 0
- Total Liabilities: $0
As of 2022:
- Total Assets: $13.1 million
- Total Revenue: $955,100
- Total Investments: $11.6 million
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $16,209,685 | $13,994,391 | $13,139,859 |
| Revenue | $4,250,408 | $3,246,428 | $955,082 |
| Expenses | $1,969,361 | $1,386,410 | $325,892 |
| Qualifying Distributions | $1,833,238 | $1,328,797 | $271,966 |
| Net Investment Income | $4,076,160 | $2,332,886 | $919,606 |
| Distributable Amount | $870,057 | $690,808 | $680,633 |
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
75 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Brigham & Women's Hospital ($1,317,408), Leland Stanford Junior University ($378,000), American Red Cross - Hurricane Milton ($25,000).
| Recipient | Purpose | Amount |
|---|---|---|
| ALZHEIMERS ASSOCIATION WALTHAM, MA | PROGRAM SUPPORT | $1,000 |
| AMERICAN DIABETES ASSOCIATION MERRIFIELD, VA | PROGRAM SUPPORT | $10,000 |
| AMERICAN HEART ASSOCIATION DALLAS, TX | PROGRAM SUPPORT | $10,000 |
| AMERICAN RED CROSS - HURRICANE MILTON NW WASHINGTON, DC | PROGRAM SUPPORT | $25,000 |
| BIG BROTHERS BIG SISTERS OF BRUNSWICK BRUNSWICK, ME | PROGRAM SUPPORT | $1,030 |
| BOYS AND GIRLS CLUB OF COLLIER COUNTY NAPLES, FL | PROGRAM SUPPORT | $1,000 |
| BRIGHAM & WOMEN'S HOSPITAL BOSTON, MA | PROGRAM SUPPORT | $1,317,408 |
| BUCKNELL UNIVERSITY LEWISBURG, PA | PROGRAM SUPPORT | $25,000 |
| DANA FARBER CANCER INSTITUTE NAPLES, FL | PROGRAM SUPPORT | $10,000 |
| DFCI - PAN MASS CHALLENGE - BRUCE COHEN NAPLES, FL | PROGRAM SUPPORT | $1,027 |
Leadership & Key People
Leadership team and compensation from IRS filings
The Water Cove Charitable Foundation was founded by Bruce and Kim Sachs. Bruce I. Sachs holds the following background:
- Bachelor's degree in Electrical Engineering from Bucknell University (1980)
- Master's degree in Electrical Engineering from Cornell University (1981)
- M.B.A. from Northeastern University (1988)
- Early career experience at AT&T Bell Laboratories and as Director of Engineering at Memotec/Infinet
- General Partner at Charles River Ventures
- Board of Directors member at Vertex Pharmaceuticals
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| BRUCE I SACHS | TRUSTEE | 1 | — |
| KIMBERLIE T SACHS | TRUSTEE | 1 | — |
Recent News & Activity
Recent developments and announcements
The foundation's most recent tax filing is from 2024. The foundation made grants totaling $1,833,238 in 2024, with the largest single grant of $1,317,408 to the Professional Nurses Chapter of the Brigham and Women's Hospital for program support.
The Cove in Waco receives Forever Fund grant from the Waco Foundation | kcentv.comSubject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does The Water Cove Charitable Foundation fund?
The foundation primarily funds grantmaking related to health, diseases, and medical research. According to tax records, the foundation also earmarks funds for education and youth organizations. The foundation does not maintain a public website or formally announce its funding priorities, maintaining a low public profile.
How do I apply for a grant from The Water Cove Charitable Foundation?
The foundation makes grants to pre-selected organizations. Recent grants documented include: • Professional Nurses Chapter of the Brigham and Women's Hospital: $1,317,408 (2024) • Stanford University / The Board of Trustees of the Leland Stanford Junior University: $378,000 (2024) • Bucknell University: $25,000 (2024) Typical grant awards range from $250 to $1,317,408. The foundation made one documented grant in the most recent reporting year. Almost all grants support large national research o…
Where does The Water Cove Charitable Foundation make grants?
The foundation's grantmaking focuses primarily on Massachusetts, Florida, and Maine.
What size grants does The Water Cove Charitable Foundation award?
In 2024, The Water Cove Charitable Foundation awarded 28 grants totaling $1.8M — an average of about $65K per grant, based on its IRS Form 990 filings.
How much is The Water Cove Charitable Foundation required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, The Water Cove Charitable Foundation reported a distributable amount of $870K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is The Water Cove Charitable Foundation's EIN?
The Water Cove Charitable Foundation's EIN (Employer Identification Number) is 04-6905190. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in The Water Cove Charitable 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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