Our History
In 2002, a group of experienced marine
conservationists and philanthropists founded
the Coral Reef Foundation (CRF) to increase
funding for coral reef conservation, in
response to research that showed two major
obstacles to coral reef giving. First,
potential donors were reluctant to commit large
amounts of funding because they had little
reliable information about the effectiveness of
coral reef groups and their projects. Second,
there were no easy mechanisms for giving,
especially to small, international groups. CRF
was designed to address these obstacles by
offering expert evaluations of groups and
projects, and by providing both tax advantages
and additional services/products to donors such
as donor-advised funds (DAFs) and fiscal
sponsorship of efforts involving multiple
groups or multiple donors.
Initial CRF investments underwrote site-specific coral reef conservation efforts as well as filling in some critical information gaps in coral reef conservation. Potential donors reacted positively to this innovative approach, but many felt that the idea did not go far enough: “What about conservation of other ocean ecosystems that are also under-funded?” It soon became clear that CRF needed to take a more comprehensive approach by offering donors the opportunity to support other ocean conservation efforts.
Thus, the idea of a “community foundation for the oceans” was born. In May, 2003, the Coral Reef Foundation formally expanded its mission and changed its name to The Ocean Foundation (The Coral Reef Foundation was then retained to become TOF’s first donor-advised fund, established by acclaimed underwater photographer and TOF founding Chair, Wolcott Henry).
Initial CRF investments underwrote site-specific coral reef conservation efforts as well as filling in some critical information gaps in coral reef conservation. Potential donors reacted positively to this innovative approach, but many felt that the idea did not go far enough: “What about conservation of other ocean ecosystems that are also under-funded?” It soon became clear that CRF needed to take a more comprehensive approach by offering donors the opportunity to support other ocean conservation efforts.
Thus, the idea of a “community foundation for the oceans” was born. In May, 2003, the Coral Reef Foundation formally expanded its mission and changed its name to The Ocean Foundation (The Coral Reef Foundation was then retained to become TOF’s first donor-advised fund, established by acclaimed underwater photographer and TOF founding Chair, Wolcott Henry).