Michael Phelps retired from swimming after becoming the most decorated Olympian ever, but he’ll continue making waves.

The 18-time gold medalist hung up his competitive cap after winning the 4x100-meter medley relay Saturday, but he doesn’t plan to stray far the pool, USA Today reports. The 27-year-old told sportscaster Bob Costas that he'll now focus more on his charity, the Michael Phelps Foundation.

"[It] is the next chapter of my life,” he told Costas.

Established in 2008, according to the organization’s Facebook page, the Michael Phelps Foundation aims to inspire children to lead healthy and active lives through the sport of swimming and to promote critical water safety skills. Phelps established the Foundation with the $1 million bonus he received from Speedo after winning eight gold medals in Beijing.

"There are a lot of pools being shut down, and kids are not able to come out and enjoy it like I did growing up," the charitable athlete told FOXsports.com "I think over time, hopefully, I will have the opportunity to make an impact to cities and states all over the world and hopefully be able to change that."

By partnering with Boys & Girls Clubs of America, KidsHealth.org, the Michael Phelps Swim Schools and the Level Field Fund, the nonprofit has taught more than 2,300 children how to swim, according to kndu.com. More than 80 percent of those participants received swimming instruction for the first time in their lives.

One such program that benefitted from the Michael Phelps Foundation is the Boys and Girls Club in Prosser, Wash. Based in the state with the second highest drowning rate for youth, the club won an $18,000 grant last year and $12,000 this year, according to the news outlet.

“You look around in our area and we have canals that our migrant students get into, and they're fast moving and they don't have the ability to swim,” Ron McHenry, Executive Director of the Boys & Girls Club in Prosser, told kndu.com.

Doling out grants for swim programs that cater to minorities is particularly crucial.

Black children between the ages of 5 and 14 are three times more likely to drown than white children of the same age range, according to the Centers for Disease Control and Prevention. Up to 70 percent of black and Hispanic children cannot swim, USA Swimming Foundation research concluded.

These are the grim statistics that the Broward County Boys & Girls Club of America is determined to tackle with the help of Phelps' charity.

“I think water safety is right up there with oxygen,” Lee Pitts, Aquatic Director at the Broward County Boys & Girls Club of America,” told NBC Miami. “They need to know about water safety. It should be just as important as reading, writing and arithmetic.”

Click through the slideshow below to see photos of Michael Phelps competing through the years.

SLIDESHOW:

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  • FILE - In this Aug. 16, 2008 file photo, United States' Michael Phelps reacts as he wins gold in the final of the men's 100-meter freestyle during the swimming competitions in the National Aquatics Center at the Beijing 2008 Olympics in Beijing. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark. (AP Photo/Mark Baker, File)

  • FILE - In this Aug. 14, 2004 file photo, Michael Phelps, of the United States, smiles with his gold medal after setting a world record in the 400-meter individual medley at the Olympic Aquatic Centre during the 2004 Olympic Games in Athens. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark. (AP Photo/Mark J. Terrill)

  • FILE - In this Aug. 16, 2004 file photo, Michael Phelps, of the United States, swims in a qualifying heat of the 200-meter butterfly at the Olympic Aquatic Centre during the 2004 Olympic Games in Athens. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark. (AP Photo/Mark J. Terrill)

  • Michael Phelps

    FILE - This combination of photos shows United States' Michael Phelps holding each of his eight gold medals after (top, left to right) the 400m individual medley, 4 x 100m freestyle relay, 200m freestyle, 200m butterfly, (bottom, left to right) 4 x 200m freestyle relay, 200m individual medley, 100m butterfly and the 4x100-meter medley relay at the Beijing 2008 Olympics in Beijing. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark. (AP Photo, File)

  • Michael Phelps

    FILE - In this Aug. 11, 2008 file photo, Michael Phelps celebrates the gold medal victory in the men's 4x100-metre final at the Beijing 2008 Summer Olympics in Beijing. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark. (AP Photo/The Canadian Press, Paul Chiasson, File)

  • FILE - In this Aug. 14, 2004 file photo, Michael Phelps, of the United States, jumps off the blocks enroute to winning gold in the final of the 400 meter individual medley at the Olympic Aquatic Centre during the 2004 Olympic Games in Athens. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark. (AP Photo/Mark Baker, File)

  • FILE - In this July 31, 2012 file photo, United States' Michael Phelps poses with his gold medal for the men's 4x200-meter freestyle relay swimming final at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark. (AP Photo/Matt Slocum, File)

  • FILE - In this Aug. 15, 2004 file photo, Michael Phelps of the U.S. reacts after finishing in a semifinal heat of the 200m freestyle at the 2004 Olympic Games in Athens, Greece. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark, (AP Photo/Thomas Kienzle, File)

  • United States' swimmer Michael Phelps smiles as he wears his gold medal at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Saturday, Aug. 4, 2012. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark. (AP Photo/Mark J. Terrill)

  • United States swimmer Michael Phelps acknowledges fans after winning a gold medal in the men's 4 X 100-meter medley relay at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics, London, Saturday, Aug. 4, 2012. (AP Photo/Jae C. Hong)

  • Michael Phelps

    FILE - In this Aug. 17, 2008 file photo, United States' Michael Phelps celebrates after winning his 8th gold medal after the men's 4x100-meter medley relay final during the swimming competitions in the National Aquatics Center at the Beijing 2008 Olympics in Beijing. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark. (AP Photo/David J. Phillip, File)

  • United States' Michael Phelps swims in the men's 4 X 100-meter medley relay at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Saturday, Aug. 4, 2012. Phelps retires with twice as many golds as any other Olympian, and his total of 22 medals is easily the best mark.(AP Photo/Julio Cortez)

  • Members of the United States team Matthew Grevers, left, Michael Phelps, middle and Brendan Hansen celebrates as Nathan Adrian finishes in the men's 4 X 100-meter medley relay at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Saturday, Aug. 4, 2012. (AP Photo/Julio Cortez)

  • United States' Michael Phelps prepares to swim in the men's 4 X 100-meter medley relay at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Saturday, Aug. 4, 2012. Phelps pushed the United States in front to win the medley relay Saturday in the final swimming event of the London Games, after which he is retiring. He leaves the sport with a record 18 golds and 22 medals overall. (AP Photo/Matt Slocum)

  • United States' men's 4 X 100-meter medley relay team from left, Matthew Grevers, Michael Phelps and Brendan Hansen shake hands with teammate Nathan Adrian after winning the gold medal at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Saturday, Aug. 4, 2012. Phelps pushed the United States in front to win the medley relay Saturday in the final swimming event of the London Games, after which he is retiring.(AP Photo/Matt Slocum)

  • United States' swimmer Michael Phelps holds up a silver trophy after being honored as the most decorated Olympian at the Aquatics Centre in the Olympic Park during the 2012 Summer Olympics in London, Saturday, Aug. 4, 2012. (AP Photo/Matt Slocum)