Chamber Of Commerce Ocean City
Ocean City Chamber of Commerce: Stable Finances, Low Transparency
EIN: 222810508 · Ocean City, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $545K |
| Total Expenses | $578K |
| Program Spending | 75% |
| Net Assets | $431K |
| Transparency Score | 65/100 |
Is Chamber Of Commerce Ocean City Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Chamber Of Commerce Ocean City directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Chamber Of Commerce Ocean City
Chamber Of Commerce Ocean City (EIN: 222810508) is a nonprofit organization based in Ocean City, NJ. The organization reported total revenue of $545K and total assets of $432K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Chamber Of Commerce Ocean City's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Chamber Of Commerce Ocean City is a small nonprofit that has been operating for 34 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $528K |
| Total Expenses | $578K |
| Surplus / Deficit | $-49,066 |
| Total Assets | $431K |
| Net Assets | $431K |
| Operating Margin | -9.3% |
| Months of Reserves | 9.0 months |
Financial Health Grade: B
In 2023, Chamber Of Commerce Ocean City reported a deficit of $49K with expenses exceeding revenue, holds 9.0 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Chamber Of Commerce Ocean City's revenue has grown at a compound annual growth rate (CAGR) of 2.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +16.8% | +30.1% | -10.2% |
| 2022 | +3.7% | -1.6% | +1.8% |
| 2021 | +3.4% | +13.8% | -3.1% |
| 2020 | -9.4% | -5.7% | +5.5% |
| 2019 | -11.0% | +0.1% | +10.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1992 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Chamber Of Commerce Ocean City with a Mission Score of 65 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Chamber Of Commerce Ocean City allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $49K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided data, making a specific assessment difficult without further filings.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Chamber Of Commerce Ocean City's IRS 990 filings:
- Lack of detailed program spending breakdown in available data.
- No clear indication of specific community impact metrics or outcomes.
- Limited transparency regarding governance and decision-making processes.
Strengths
The following positive indicators were identified for Chamber Of Commerce Ocean City:
- Consistent revenue generation over several years.
- Healthy asset base relative to annual expenses.
- Stable financial position with no reported liabilities.
Frequently Asked Questions about Chamber Of Commerce Ocean City
Is Chamber Of Commerce Ocean City a legitimate charity?
Based on AI analysis of IRS 990 filings, Chamber Of Commerce Ocean City (EIN: 222810508) some concerns. Mission Score: 65/100. 3 red flags identified, 3 strengths noted.
How does Chamber Of Commerce Ocean City spend its money?
Chamber Of Commerce Ocean City directs 75% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Chamber Of Commerce Ocean City tax-deductible?
Chamber Of Commerce Ocean City is registered as a tax-exempt nonprofit (EIN: 222810508). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Chamber Of Commerce Ocean City's spending goes to programs?
Chamber Of Commerce Ocean City directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Chamber Of Commerce Ocean City located?
Chamber Of Commerce Ocean City is headquartered in Ocean City, New Jersey and files with the IRS under EIN 222810508.
How many years of IRS 990 filings does Chamber Of Commerce Ocean City have?
Chamber Of Commerce Ocean City has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $545K in total revenue.
What does Chamber Of Commerce Ocean City do?
Chamber Of Commerce Ocean City is a nonprofit organization in the Unknown sector, located in Ocean City, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Chamber Of Commerce Ocean City have?
Chamber Of Commerce Ocean City reported total revenue of $545,359. Based on 13 IRS 990 filings on record.
What are Chamber Of Commerce Ocean City's total assets?
Chamber Of Commerce Ocean City holds total assets of $431,628 as reported in IRS 990 filings.
Where is Chamber Of Commerce Ocean City located?
Chamber Of Commerce Ocean City is based in Ocean City, New Jersey.
What is Chamber Of Commerce Ocean City's EIN?
Chamber Of Commerce Ocean City's Employer Identification Number (EIN) is 222810508. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Chamber Of Commerce Ocean City?
Chamber Of Commerce Ocean City is classified under NTEE code Unknown (Unknown).
Is Chamber Of Commerce Ocean City a registered 501(c)(3)?
Chamber Of Commerce Ocean City appears in IRS records (EIN: 222810508). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Chamber Of Commerce Ocean City file IRS Form 990?
Yes, Chamber Of Commerce Ocean City has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Chamber Of Commerce Ocean City's revenue in 2023?
In the 202312 filing period, Chamber Of Commerce Ocean City reported total revenue of $528,498, total expenses of $577,564, and net assets of $430,911.
Is Chamber Of Commerce Ocean City's revenue growing or declining?
Chamber Of Commerce Ocean City's revenue is growing. Revenue went from $452,388 (202212) to $528,498 (202312), a +16.8% change. Based on 13 filings on record.
What is Chamber Of Commerce Ocean City's most recent 990 filing?
The most recent IRS Form 990 filing for Chamber Of Commerce Ocean City covers tax period 202312. It shows revenue of $528,498, expenses of $577,564, total assets of $430,911, and liabilities of N/A.
How much does Chamber Of Commerce Ocean City spend on programs vs administration?
Based on IRS 990 analysis, Chamber Of Commerce Ocean City allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Chamber Of Commerce Ocean City a trustworthy charity?
Based on AI analysis of IRS 990 data, Chamber Of Commerce Ocean City shows mixed signals. Mission Score: 65/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Chamber Of Commerce Ocean City?
The following concerns were identified: Lack of detailed program spending breakdown in available data.. No clear indication of specific community impact metrics or outcomes.. Limited transparency regarding governance and decision-making processes.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Chamber Of Commerce Ocean City's strengths?
Positive indicators for Chamber Of Commerce Ocean City include: Consistent revenue generation over several years.. Healthy asset base relative to annual expenses.. Stable financial position with no reported liabilities.. These findings are derived from AI analysis of the organization's financial filings.
How does Chamber Of Commerce Ocean City compensate executives?
Executive compensation is not explicitly detailed in the provided data, making a specific assessment difficult without further filings. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Chamber Of Commerce Ocean City?
- Limited public access to detailed financial statements beyond IRS Form 990. - No easily accessible annual report or impact statement. - Board meeting minutes are not publicly available. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
How does the Chamber of Commerce measure its impact on local businesses and tourism?
The provided data does not include specific metrics or reports detailing the Chamber's impact on local businesses, job creation, or tourism growth, making it difficult to assess their effectiveness beyond financial stability.
Filing History
IRS 990 filing history for Chamber Of Commerce Ocean City showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Chamber Of Commerce Ocean City's revenue has grown by 31.2%, moving from $403K to $528K. Total assets increased by 131.9% over the same period, from $186K to $431K. Total functional expenses rose by 59.1%, from $363K to $578K. In its most recent filing year (2023), Chamber Of Commerce Ocean City reported a deficit of $49K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $528K | $578K | $431K | $0 | — | View 990 |
| 2022 | $452K | $444K | $480K | $0 | — | View 990 |
| 2021 | $436K | $451K | $472K | $0 | — | View 990 |
| 2020 | $422K | $397K | $487K | $0 | — | View 990 |
| 2019 | $466K | $421K | $462K | $0 | — | View 990 |
| 2018 | $523K | $420K | $416K | $0 | — | View 990 |
| 2017 | $500K | $400K | $306K | $0 | — | View 990 |
| 2016 | $475K | $502K | $206K | $0 | — | View 990 |
| 2015 | $429K | $431K | $234K | $1 | — | View 990 |
| 2014 | $473K | $388K | $235K | $0 | — | View 990 |
| 2013 | $372K | $400K | $150K | $0 | — | View 990 |
| 2012 | $369K | $368K | $185K | $7K | — | View 990 |
| 2011 | $403K | $363K | $186K | $9K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $528K, expenses of $578K, and assets of $431K (revenue +16.8% year-over-year).
- 2022: Revenue of $452K, expenses of $444K, and assets of $480K (revenue +3.7% year-over-year).
- 2021: Revenue of $436K, expenses of $451K, and assets of $472K (revenue +3.4% year-over-year).
- 2020: Revenue of $422K, expenses of $397K, and assets of $487K (revenue -9.4% year-over-year).
- 2019: Revenue of $466K, expenses of $421K, and assets of $462K (revenue -11.0% year-over-year).
- 2018: Revenue of $523K, expenses of $420K, and assets of $416K (revenue +4.5% year-over-year).
- 2017: Revenue of $500K, expenses of $400K, and assets of $306K (revenue +5.4% year-over-year).
- 2016: Revenue of $475K, expenses of $502K, and assets of $206K (revenue +10.6% year-over-year).
- 2015: Revenue of $429K, expenses of $431K, and assets of $234K (revenue -9.3% year-over-year).
- 2014: Revenue of $473K, expenses of $388K, and assets of $235K (revenue +27.3% year-over-year).
- 2013: Revenue of $372K, expenses of $400K, and assets of $150K (revenue +0.6% year-over-year).
- 2012: Revenue of $369K, expenses of $368K, and assets of $185K (revenue -8.4% year-over-year).
- 2011: Revenue of $403K, expenses of $363K, and assets of $186K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Chamber Of Commerce Ocean City:
Data Sources and Methodology
This transparency report for Chamber Of Commerce Ocean City is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.