Nonprofit · EIN 46-0814861
THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC
Also known as GFOE
Tax-exempt · OLD LYME, CT 06371
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $2,422,237 | $3,242,015 | -$819,778 | $802,674 | $24,527 | $778,147 |
| December 31, 2024 | 990 | $4,606,156 | $4,685,106 | -$78,950 | $1,772,099 | $174,174 | $1,597,925 |
| December 31, 2023 | 990 | $5,022,655 | $5,416,703 | -$394,048 | $2,116,191 | $439,316 | $1,676,875 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $3,013,864
- of which government grants
- $2,991,318
- Program service revenue
- $0
- Investment income
- -$592,256
- Net gain from sales of assets
- -$592,297
- Other revenue
- $629
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $414,176
- Other salaries and wages
- $155,741
- Salaries, compensation and benefits (total)
- $642,420
- Professional fundraising fees
- $0
- Accounting fees
- $30,800
- Occupancy
- $149,346
- Travel
- $47,454
- Depreciation
- $243,304
- Program services (functional)
- $3,140,841
- Management and general (functional)
- $101,174
Balance sheet and other
- Total assets, start of year
- $1,772,099
- Total assets, end of year
- $802,674
- Total liabilities, end of year
- $24,527
- Net assets, end of year
- $778,147
- Land, buildings and equipment
- $73,498
- Net assets without donor restrictions
- $778,147
- Gross receipts
- $3,150,859
- Employees
- 3
- Volunteers
- 2
- Year formed
- 2012
- State of legal domicile
- CT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| DAVID LOVALVO | President Trustee or director, Officer | 40 | $286,677 | $9,192 |
| MELISSA RYAN | Vice President Officer | 40 | $172,532 | $5,482 |
| CYNTHIA SHEREDA | SEC/TREAS Trustee or director, Officer | 1 | $0 | $0 |
| HARLAN KREDIT | Director Trustee or director | 1 | $0 | $0 |
990 for the year ended December 31, 2024: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID LOVALVO | President Trustee or director, Officer | 40 | $306,398 |
| MELISSA RYAN | Vice President Officer | 40 | $182,743 |
| CYNTHIA SHEREDA | SEC/TREAS Trustee or director, Officer | 1 | $0 |
| HARLAN KREDIT | Director Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 4 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DAVID LOVALVO | President Trustee or director, Officer | 40 | $302,470 |
| MELISSA RYAN | Vice President Officer | 40 | $180,400 |
| CYNTHIA SHEREDA | SEC/TREAS Trustee or director, Officer | 1 | $0 |
| HARLAN KREDIT | Director Trustee or director | 1 | $0 |
Address and contacts
- Address (IRS master file)
- PO BOX 53, OLD LYME, CT 06371-0053
- Mailing address (990-N for 2012)
- 25 Limekiln Rd, Redding CT 06896
- Principal officer (990 for 2025)
- DAVID LOVALVO, PO BOX 53, OLD LYME, CT 06371
- Principal officer (990-N for 2012)
- David Lovalvo, 25 Limekiln Rd, Redding CT 06896
- Signed the 990
- DAVID LOVALVO, President
- Phone
- (860) 572-7979
- Return prepared by
- WollackLewitz LLC
Mission
TO EMPOWER THE GLOBAL UNDERWATER SCIENCE COMMUNITY WITH THE TOOLS AND EXPERTISE REQUIRED TO EXPLORE THE GREATEST DEPTHS OF THE PLANET'S LARGEST AND DEEPEST BODIES OF WATER AND RETURN WITH DISCOVERIES THAT AMAZE AND INSPIRE A GLOBAL AUDIENCE.
Program accomplishments
- ADVANCEMENT OF DEEP SUBMERGENCE VEHICLES, EQUIPMENT AND TELEPRESENCE SYSTEMS INCLUDING THE DESIGN, ENGINEERING AND DEVELOPMENT OF SAMPLING CAPABILITIES FOR GOVERNMENT OWNED UNDERWATER ROBOTS; CONDUCT MAJOR OCEAN EXPLORATION EXPEDITIONS; TRAINED FILM MAKERS AND ENGINEERS. In 2025,WE CONCLUDED OUR GRANT CONTRACT WITH NOAA AND RETURNED THE EQUIPMENT THAT WAS PURCHASED WITH GRANT FUNDS THAT WILL NO LONGER BE USED. THE ORGANIZATION WILL CONTINUE WITH EXPLORATION AT A GREATLY REDUCED LEVEL WITHOUT FEDERAL GRANT FUNDING.Expenses $3,140,841
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 46-0814861
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2013
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Science and technology (U21)
- Assets (IRS master file)
- $802,674
- Income (IRS master file)
- $3,150,859
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $2,422,237 | $3,242,015 | $802,674 | XML |
| 990 | December 2024 | $4,606,156 | $4,685,106 | $1,772,099 | XML |
| 990 | December 2023 | $5,022,655 | $5,416,703 | $2,116,191 | XML |
| 990 | December 2022 | $5,107,205 | $5,487,653 | $2,377,435 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990-N for 2012 Officer: David Lovalvo | December 31, 2012 | ≤ $50,000 receipts | – | – | e-Postcard |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 46-0814861).
Questions about THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC
- What is the EIN of THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC?
- The employer identification number (EIN) of THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC is 46-0814861.
- Is THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2013.
- Are donations to THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC?
- The 990 for the year ended December 31, 2025 names DAVID LOVALVO.
- Who are the officers and directors of THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC?
- The 990 for the year ended December 31, 2025 lists 4 people; 2 received compensation from the organization, the highest $286,677 (DAVID LOVALVO, President).
- How much revenue does THE GLOBAL FOUNDATION FOR OCEAN EXPLORATION INC have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $2,422,237, expenses of $3,242,015 and total assets of $802,674 at year end.
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