TerraMar’s Money: Epstein Funding, Tides Check, UBS Transfers and the Evidence Ledger

A financial report included in the released Epstein material identifies reported TerraMar funding from Jeffrey Epstein’s foundation and Ghislaine Maxwell. Separate contemporaneous correspondence contains a transfer instruction; bank records and a check image show other organizational payments. The evidence is enough to establish certain institutional financial links, not enough to turn the 85 people listed as symbolic founding citizens into donors, account controllers or accomplices.
Snapshot
| Field | Documented position |
|---|---|
| Legal organization | TerraMar Project Inc., EIN 45-5091884, separate from TerraMar (UK), company 08661523 |
| Founder and leading officer | Ghislaine Maxwell |
| Epstein foundation amount | $57,000 as reported by defense commissioned accountants for the fiscal year ending January 21, 2013 |
| Epstein instruction | Approximately $32,000 described in December 2012 correspondence; completed transfer not independently established by the email alone |
| Other released check | $100,000 from Tides Foundation dated May 26, 2014; ultimate donor and purpose not established by the check |
| Documented account transfer | $35,749.95 from TerraMar JPMorgan to UBS in 2014 |
| 2018 U.S. liabilities | $561,991 as reported in the organization’s tax return |
| Key caution | Payments, instructions, debts and annual returns describe different financial phenomena. They cannot be summed together. |
Key Takeaways
The 2012 instruction and the $57,000 reported grant may involve overlapping fiscal activity. A check written by Tides Foundation proves a payment by that issuer but does not identify the underlying donor. A transfer between a TerraMar JPMorgan account and a TerraMar UBS account is a movement of the organization’s own balance, not new donation revenue. The accounts of a charity and the personal finances of its founder may share administrative infrastructure without all funds having the same owner or purpose.
The Evidence Ledger
This is a transaction and filing reference table, not an audit of all TerraMar payments. Amounts have been kept in the categories used by their sources.
| Date or period | Figure | Reported event | Record | Evidence type | Unproven or missing |
|---|---|---|---|---|---|
| Fiscal year ending January 21, 2013 | $57,000 | Epstein Interests Foundation to TerraMar, as stated by Maxwell defense accountants | EFTA00065551; EFTA00065557 | Accounting report commissioned by Maxwell’s defense | The source does not itself include the complete originating bank wire or certify independence of the audit. The date is a reporting period, not necessarily one transfer date. |
| December 1, 2012 | Approximately $32,000 | Epstein instruction to Richard Kahn concerning Maxwell’s charity | EFTA00671630; EFTA01765042; EFTA01975862 | Contemporaneous email instruction and account discussions | An instruction is not proof of completed settlement. Do not add to $57,000 without reconciling whether records refer to overlapping activity. |
| May 26, 2014 | $100,000 | Check from Tides Foundation to TerraMar Project, attention Ghislaine Maxwell | EFTA00270646 | Released image of check number 61601 | Identifies issuer, recipient and amount, not the ultimate donor’s identity, reason for the payment, deposit clearance or later use. |
| 2014 account transition | $35,749.95 | TerraMar JPMorgan account funds moved into TerraMar UBS account | EFTA00073635; EFTA01279253 | UBS transfer recap and account record | Not proof the amount came from Epstein or served an unlawful purpose. Check the whole statement period and counterpart accounts. |
| 2018 year end | $561,991 liabilities | Reported TerraMar U.S. balance sheet liabilities | IRS return archive | Organization’s own reported Form 990 figures | A charity liability is not automatically a debt to every named founding citizen; reconstruct lender and class separately. |
| 2018 fiscal year | $24,979 receipts; $26,172 expenses | Reported U.S. TerraMar revenue and spending | IRS return archive | Organization’s own reported Form 990 figures | These broad annual totals do not identify payer, ultimate beneficial donor, recipient or individual criminal conduct. |
| 2012 through 2018 | $348,954 receipts; $851,573 expenses | Aggregate figures summarized across U.S. returns | IRS return archive | Aggregation of annual return disclosures | Aggregation is a research summary, not one bank balance or proof of a particular source of funds. |
| As of 2018 report | $560,650 | Maxwell operating cost contribution reported by defense accountants | EFTA00065551 | Defense commissioned accounting assessment | Needs underlying ledger reconciliation to distinguish gross contributions, repayable loans, cash advances and expenses. |
Source Analysis: Maxwell and Epstein Interests Foundation
The MacAlvins report commissioned for Maxwell’s defense says Maxwell supplied $560,650 toward the U.S. organization’s operating costs and identifies a $57,000 contribution by the Epstein Interests Foundation in the financial year ending in January 2013. The released report page EFTA00065557 is direct evidence of what the accountants stated. This is stronger than unsourced commentary but is not a bank certified complete donor ledger or a court finding that the accountant reconstructed every transfer correctly.
The December 2012 email records an instruction by Epstein to Richard Kahn concerning approximately $32,000 for Maxwell’s charity. Other reproductions of the communication survive at EFTA01765042 and EFTA01975862. An instruction can precede, replace, fail to produce or relate to a later transfer. Without the subsequent bank confirmation and accounting journal, these copies are not three separate donations, and the instruction must not be added to the $57,000 figure as though it were necessarily independent.
Source Analysis: The Tides Foundation Check
EFTA00270646 contains a check dated May 26, 2014 for $100,000 issued by Tides Foundation to the TerraMar Project, with attention to Ghislaine Maxwell. This is direct documentary evidence of the check’s issuer, named recipient and face amount. The image does not identify the ultimate charitable donor, whether any donor advisory arrangement existed, whether there was a grant restriction, or where the funds subsequently went. Do not claim that Tides knowingly supported crimes or that Epstein provided these particular funds without new documents.
Source Analysis: JPMorgan and UBS
EFTA00073635 contains a UBS transfer recap recording $35,749.95 moving from a TerraMar JPMorgan account amid a broader migration of Maxwell and related entity banking relationships. EFTA01279253 supplies a UBS account record corresponding to TerraMar. Those records substantiate administrative and banking overlaps but do not turn every transfer into a gift from Epstein. Avoid displaying private account numbers that have no investigative necessity.
EFTA01517899 is a JPMorgan TerraMar account statement page recording ordinary transactions, merchant receipts, a card payment and a transfer involving Theory and Practice LLC. Such statements can be useful for tracing vendors, settlement dates and expense categories. The existence of a vendor entry alone does not establish misconduct, control or beneficial ownership by the recipient.
Source Analysis: Public Tax and Corporate Records
ProPublica’s IRS return archive aggregates the nonprofit filings for EIN 45-5091884. The 2018 report shows $24,979 of revenue, $26,172 of expenses, and $561,991 in liabilities. Over 2012 through 2018 the published annual totals aggregate to $348,954 revenue and $851,573 expense. These are the amounts the organization reported and do not independently establish whether its books were complete. Founding citizen status gives no reason to presume any individual was a donor.
Companies House establishes TerraMar (UK) as a distinct legal entity, incorporated in August 2013 and dissolved in December 2019. Charity Commission records identify charity number 1154106. U.S. figures are in dollars and must not be merged unqualified with U.K. pounds, different accounting periods, directors or bank accounts. The two legal identities are documented in the full TerraMar organization article.
What Federal Investigators Requested
EFTA00235809 is a rider to an August 16, 2019 UBS subpoena requesting account documents for Maxwell and entities including TerraMar Project Inc. A grand jury subpoena establishes investigative interest and requested materials. It is not a charging document, adjudication of wrongdoing, or proof that the nonprofit itself operated a trafficking scheme.
A Reconciliation Checklist for Researchers
For the Epstein foundation amount, compare the original outgoing ledger and bank debit with TerraMar’s incoming credit, charity acknowledgement letter, and fiscal year journal entry. For the $32,000 instruction, obtain the settled wire reference and determine whether it forms part of the reported $57,000. For the Tides check, seek the grant letter and record of deposit before classifying the originating benefactor or purpose. For the JPMorgan to UBS migration, preserve both sides of each interbank entry so moving the same funds does not appear twice as income. For U.K. figures, preserve pounds, dates, signatories and the separate entity name.
Institutional Support Is Not Individual Culpability
There is direct evidence for Epstein’s knowledge of TerraMar and financial support linked to an Epstein named foundation. That does not mean TerraMar’s ocean scientists, founding citizens, council members, outside contractors, named institutions or check issuers were aware of Maxwell’s crimes. The 85 founding person records remain separate from this organization level financial ledger, and no individual dossier should claim financial participation solely because its subject’s portrait appeared on TerraMar’s website.
Watch Our Sleuths Investigate
Several EpsteinWiki financial network investigations are relevant to Maxwell’s institutional accounts. Epstein’s Financial Web and Ghislaine Maxwell Entities provide local background and cross references. No specific contributor video independently verified as covering every transaction in this ledger is embedded here.
Sources
- EFTA00065551 and EFTA00065557, defense prepared financial condition report and charity funding.
- EFTA00671630, EFTA01765042, EFTA01975862, December 2012 funding instruction and duplicates.
- EFTA00270646, May 26, 2014 Tides Foundation check.
- EFTA00073635, EFTA01279253, TerraMar bank transfer recap and receiving account.
- EFTA01517899, TerraMar JPMorgan statement.
- EFTA00235809, federal grand jury subpoena rider.
- IRS return archive, U.S. tax reported figures.
- Companies House and Charity Commission, U.K. entity and filings.
- Epstein Data Wiki TerraMar research entry, secondary finding aid referencing original evidence.
Closing Finding
TerraMar’s funding and banking documentation confirms a material link to Maxwell and an Epstein foundation. The record is not a complete forensic account reconciliation, and none of the recorded amounts can be attributed to the 85 public founding citizens without person specific proof. Keep cash, instructions, reported donations, loans, bank transfers and account balances in separate evidentiary columns.