FREQUENTLY ASKED QUESTIONS
What is Blue Ocean Foundation?
·Colorado-based, charitable, nonprofit organization.
·A 501(c)(3) entity that is the charitable arm of Blue Ocean Enterprises.
·A private foundation that exists to be a catalyst in our communities through impactful giving that supports economic growth.
·Funded by a single entity: Blue Ocean Enterprises.
How will Blue Ocean Foundation evaluate the grant applications?
·Blue Ocean Foundation will give preference to applications that meet our mission.
·We have a Grant Review Committee that evaluates each submission based on the appropriate grant cycle.
Why did Blue Ocean Enterprises start a foundation?
·To provide economic and philanthropic resources to support, elevate and grow the communities we serve.
·To support the mission of Blue Ocean Enterprises through philanthropy.
What is the mission of Blue Ocean Foundation?
·We Give to Grow.
·We exist to be a catalyst in our community through impactful giving that supports economic growth.
·We support other community organizations that are equally invested in furthering economic growth.
·We focus on building stronger communities in Fort Collins, Weld and Larimer counties, and the British Virgin Islands.
·Our resources and efforts are dedicated to building strong communities through economic development and philanthropic efforts.
What is the difference between Blue Ocean Enterprises and Blue Ocean Foundation?
·Blue Ocean Enterprises is a for-profit, private Fort Collins-based business that is committed to strengthening the growth and vitality of our local community through real estate investments, job creation and fostering entrepreneurial sprit.
·Blue Ocean Foundation is the non-profit, charitable arm of Blue Ocean Enterprises, which is the primary funder of the Foundation. Its mission of being a community catalyst through impactful giving complements Blue Ocean Enterprises’ focus areas.
Does Blue Ocean Foundation have a geographic focus for charitable giving?
·Larimer and Weld counties.
·British Virgin Islands.
What types of organizations does Blue Ocean Foundation support?
·We support other 501(c)(3) organizations (public charities) that promote entrepreneurship and economic development in the communities where Blue Ocean Enterprises operates. This does not include individuals or for-profit companies.
·Blue Ocean Foundation cannot, under IRS rules, influence legislation as a substantial part of its activities or participate in any campaign activity for or against political candidates.
Why does Blue Ocean Foundation give only to 501(c)(3) organizations?
·As a private foundation with tax-exempt status, Blue Ocean Foundation can only support organizations qualified as public charities under IRS Code 501(c)(3).
Does Blue Ocean Foundation have a paid staff?
·The Foundation is staffed entirely by volunteers.