Triumph Gulf Coast Inc is a nonprofit corporation organized to oversee the expenditure of 75 percent of all funds recovered by the Florida Attorney General for economic damages to the state that resulted from the 2010 Deepwater Horizon oil spill. The organization was originally created in 2013 and officially incorporated on June 2, 2017, when Governor Rick Scott signed legislation appropriating funds to the nonprofit. The organization is based in Tallahassee, Florida.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$617.7M
+4.3% YoY
Annual Giving
$87.3M
+68.1% YoY
Grant Count
27
+58.8% YoY
Avg Grant Size
$3.2M
+5.9% YoY
Mission & Focus Areas
Triumph Gulf Coast, Inc. is required to administer the distribution of recovered settlement funds to be used for the recovery, diversification, and enhancement of eight Northwest Florida counties disproportionately affected by the oil spill. The organization makes awards from available funds to projects or programs that meet priorities for economic recovery, diversification, and enhancement in these affected counties.
Awards may be provided for:
- Ad valorem tax rate reduction within disproportionately affected counties
- Local match requirements for projects in the disproportionately affected counties
- Public infrastructure projects for construction, expansion, or maintenance that enhance economic recovery, diversification, and enhancement
- Education and workforce development initiatives
- Aerospace and manufacturing development
- Emergency services infrastructure
Grantmaking
Triumph Gulf Coast operates an invite-only grantmaking program and does not accept unsolicited applications. The organization opened its application process in November 2017, with the first grants awarded in 2018.
How to Apply
in November 2017, with the first grants awarded in 2018.
Ready to take the next step with Triumph Gulf Coast Inc?
Geographic Focus
Where this funder awards grants
Triumph Gulf Coast funds exclusively in the eight Northwest Florida counties disproportionately affected by the 2010 Deepwater Horizon oil spill:
- Escambia
- Santa Rosa
- Okaloosa
- Walton
- Bay
- Gulf
- Franklin
- Wakulla
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $618 million
- Total Revenue: $113,038,235
- Total Expenses: $88,313,540
- Net Income: $24,724,695
As of 2023:
- Total Assets: $592,362,789
- Total Revenue: $96,800,588
- Total Expenses: $52,834,774
- Total Giving: $42,690,961
- Giving Rate: 7.2% of assets
The organization received its initial transfer of $300 million from the oil spill settlement on June 30, 2017.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $617,674,364 | $592,362,789 | $544,199,482 |
| Revenue | $113,038,235 | $96,800,588 | $85,000,000 |
| Expenses | $88,313,540 | $52,834,774 | $35,783,003 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $33,038,235 | $16,800,588 | — |
| Distributable Amount | — | — | — |
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
95 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
David M. Bear - Principal Officer and Chairman of the Board
The board was originally composed of five members appointed by the Governor, the Attorney General, the Chief Financial Officer, the President of the Senate, and the Speaker of the House of Representatives. Two additional board members were appointed from the four least populated counties, as required by legislation signed in June 2017.
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| DAVID M BEAR | CHAIR | 5 | — |
| J COLLIER MERRILL | VICE CHAIR | 5 | — |
| REYNOLDS HENDERSON | TREASURER | 5 | — |
| BRYAN A CORR SR | BOARD MEMBER | 5 | — |
| DAVID L HUMPHREYS | BOARD MEMBER | 5 | — |
| JAY TRUMBULL SR | BOARD MEMBER | 5 | — |
| LESLIE WEISS | BOARD MEMBER | 5 | — |
| SUSAN SKELTON | EXECUTIVE DIRECTOR | 40 | $120,000 |
Recent News & Activity
Recent developments and announcements
As of December 2024, Triumph Gulf Coast has awarded over $643 million in grant funds across the eight disproportionately affected counties since its inception. The organization continues to actively review and approve new proposals, with multiple projects in various stages of development including workforce training facilities, infrastructure improvements, and economic development initiatives focused on aerospace and manufacturing sectors.
Triumph Gulf Coast Board approves 4 grant award agreementsSubject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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