Walter Munk Foundation for the Oceans
Nonprofit profile at a glance
- EIN
- 823477332
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024, Form 990-EZ 2018
- Location
- La Jolla, CA, USA
- Phone
- 6198400250
- Rating
- 74
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Water Resource, Wetlands Conservation and Management
Reported finances
- Revenue
- $693,038
- Expenses
- $692,675
- Assets
- $129,908
- Liabilities
- $1,841
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- MARY MUNK (PRESIDENT)
People named in this filing
- PAULA SELBY (TREASURER)
- PHILIP MCGILLIVARY (SECRETARY)
- MARY MUNK (PRESIDENT)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Mission is to continue walter munk's legacy of daring exploration and discovery through scientific research, education, and ocean conservation.
What it reported doing in 2024
The walter munk foundation for the oceans continues walter munk's legacy of daring exploration and discovery through scientific research, education and ocean conservation with focus on inspring stewardship through a variety of activities: - walter munk educational plaza, located in kellogg park (la jolla shores), features the map of the grand canyons of la jolla, a 2,434 sq. Ft. Lithomosaic educational tool depicting the underwater park and ecological reserves offshore, illustrating 123 local life-sized species; marine protected areas; local dive sites and features; tidepools; educational panels. The foundation hosts meet me at the map, docent, and beach clean-up programs.- we provide field trips to the map (ocean) for students from the san diego's underserved communities approximately 80% have never been to the ocean!- we host an annual walter munk day ~ celebrate our oceans event to raise awareness of the fragility of the oceans and our environment and inspire stewardship. It includes 30+ exhibitors with interactive educational ocean-related activities for children of all ages.
Operating model
- Revenue model
- Donor-supported. 97% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 99% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 67
- Transparency & Controls: 85
- Accountability: 76
- Sustainability: 37
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 66.3%; rating input score 66
- Program expense ratio: 66.3%; rating input score 66
- Fundraising efficiency: $49.76 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings
Transparency & Controls
- Consistency checks: 90.9%; rating input score 91; 8th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 3 of 7 controls in place; rating input score 43
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 0.1%; rating input score 36; 36th percentile among comparable filings
- Total-asset coverage ratio: 0.19; rating input score 9; 9th percentile among comparable filings
- Liabilities to assets ratio: 0.01; rating input score 66; 66th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: 17.2% per year; rating input score 100; 79th percentile among comparable filings
- Revenue growth: 17% per year; rating input score 100; 82nd percentile among comparable filings
- Asset growth: 17.9% per year; rating input score 100; 78th percentile among comparable filings
Details
- Where the money goes: 66.3% of revenue deployed · 66.3% of spending went to programs
- Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
- Programs: 3 filed program accomplishments · $459K in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Highest-paid contractors: 1 contractor listed · $121K reported
- Consistency: 26 of 26 current checks pass
- Schedules: 3 filed schedules · includes major donors
- Filing history: 5 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Accountability: Governance controls: 3 of 6 not reported.
- Moderate — Sustainability: Operating margin scored 36/100.
- High — Sustainability: Total-asset coverage ratio scored 9/100.