Dharma Ocean Foundation
Dharma Ocean Foundation faces significant and sustained operating deficits, leading to a substantial decline in assets.
EIN: 202417344 · Boulder, CO · NTEE: X50 · Updated: 2026-03-28
Is Dharma Ocean Foundation Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Dharma Ocean Foundation directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Dharma Ocean Foundation
Dharma Ocean Foundation (EIN: 202417344) is a nonprofit organization based in Boulder, CO, classified under NTEE code X50. The organization reported total revenue of $392K and total assets of $3.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Dharma Ocean Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Dharma Ocean Foundation is a small nonprofit that has been operating for 20 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -9.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $663K |
| Total Expenses | $999K |
| Surplus / Deficit | $-336,122 |
| Total Assets | $3.4M |
| Total Liabilities | $155K |
| Net Assets | $3.2M |
| Operating Margin | -50.7% |
| Debt-to-Asset Ratio | 4.6% |
| Months of Reserves | 40.3 months |
Financial Health Grade: B
In 2023, Dharma Ocean Foundation reported a deficit of $336K with expenses exceeding revenue, holds 40.3 months of operating reserves (strong position), has a debt-to-asset ratio of 4.6% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Dharma Ocean Foundation's revenue has declined at a compound annual growth rate (CAGR) of -9.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +143.6% | +18.9% | -9.7% |
| 2022 | -41.3% | +16.1% | -16.3% |
| 2021 | +27.9% | -27.5% | -5.0% |
| 2020 | -54.4% | -47.0% | -11.9% |
| 2019 | -56.0% | -12.8% | -19.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 7200 |
| IRS Ruling Date | 2006 |
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 Dharma Ocean Foundation with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Dharma Ocean Foundation allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $336K, with expenses exceeding revenue.
- Debt-to-asset ratio: 4.6%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, indicating that no salaries or other compensation are paid to its officers. This suggests a high level of volunteer leadership or that compensation is structured in a way not reported as officer compensation, which is a positive for resource allocation to mission-related activities.
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 Dharma Ocean Foundation's IRS 990 filings:
- Consistent and significant operating deficits (e.g., 2023: $336,122 deficit; 2022: $567,819 deficit).
- Substantial decline in total assets over time (from $6.96M in 2017 to $3.36M in 2023).
- Revenue has been highly volatile and generally declining since 2017 ($2.6M in 2017 to $662K in 2023).
Strengths
The following positive indicators were identified for Dharma Ocean Foundation:
- Reports 0% officer compensation, indicating efficient use of funds at the executive level.
- Maintains a significant asset base, despite declines, which provides some buffer for operations.
Frequently Asked Questions about Dharma Ocean Foundation
Is Dharma Ocean Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Dharma Ocean Foundation (EIN: 202417344) significant concerns. Mission Score: 45/100. 3 red flags identified, 2 strengths noted.
How does Dharma Ocean Foundation spend its money?
Dharma Ocean Foundation directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Dharma Ocean Foundation tax-deductible?
Dharma Ocean Foundation is registered as a tax-exempt nonprofit (EIN: 202417344). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Dharma Ocean Foundation financially sustainable?
Based on the consistent operating deficits and declining assets, the financial sustainability of Dharma Ocean Foundation is questionable. They have been spending more than they earn for several years, drawing down their reserves.
What is the cause of the significant decline in assets?
The decline in assets from $6,960,083 in 2017 to $3,356,012 in 2023 is primarily due to the organization consistently incurring expenses that exceed its revenue, forcing it to use its accumulated assets to cover operational shortfalls.
How does the organization cover its operating deficits?
The organization appears to be covering its operating deficits by drawing down its net assets, as evidenced by the significant decrease in total assets over the past several years.
Filing History
IRS 990 filing history for Dharma Ocean Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Dharma Ocean Foundation's revenue has declined by 71.3%, moving from $2.3M to $663K. Total assets decreased by 43.5% over the same period, from $5.9M to $3.4M. Total functional expenses fell by 12.9%, from $1.1M to $999K. In its most recent filing year (2023), Dharma Ocean Foundation reported a deficit of $336K, with expenses exceeding revenue. The organization holds $155K in liabilities against $3.4M in assets (debt-to-asset ratio: 4.6%), resulting in net assets of $3.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $663K | $999K | $3.4M | $155K | — | — |
| 2022 | $272K | $840K | $3.7M | $178K | — | View 990 |
| 2021 | $463K | $723K | $4.4M | $339K | — | View 990 |
| 2020 | $362K | $998K | $4.7M | $315K | — | View 990 |
| 2019 | $795K | $1.9M | $5.3M | $314K | — | View 990 |
| 2018 | $1.8M | $2.2M | $6.6M | $533K | — | View 990 |
| 2017 | $2.6M | $1.9M | $7.0M | $524K | — | View 990 |
| 2016 | $1.7M | $1.7M | $6.1M | $389K | — | View 990 |
| 2015 | $1.3M | $1.5M | $6.2M | $501K | — | View 990 |
| 2014 | $1.7M | $1.4M | $6.2M | $376K | — | View 990 |
| 2013 | $998K | $1.4M | $5.8M | $334K | — | View 990 |
| 2012 | $1.2M | $1.2M | $6.1M | $226K | — | View 990 |
| 2011 | $2.3M | $1.1M | $5.9M | $161K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $663K, expenses of $999K, and assets of $3.4M (revenue +143.6% year-over-year).
- 2022: Revenue of $272K, expenses of $840K, and assets of $3.7M (revenue -41.3% year-over-year).
- 2021: Revenue of $463K, expenses of $723K, and assets of $4.4M (revenue +27.9% year-over-year).
- 2020: Revenue of $362K, expenses of $998K, and assets of $4.7M (revenue -54.4% year-over-year).
- 2019: Revenue of $795K, expenses of $1.9M, and assets of $5.3M (revenue -56.0% year-over-year).
- 2018: Revenue of $1.8M, expenses of $2.2M, and assets of $6.6M (revenue -30.8% year-over-year).
- 2017: Revenue of $2.6M, expenses of $1.9M, and assets of $7.0M (revenue +55.7% year-over-year).
- 2016: Revenue of $1.7M, expenses of $1.7M, and assets of $6.1M (revenue +24.2% year-over-year).
- 2015: Revenue of $1.3M, expenses of $1.5M, and assets of $6.2M (revenue -22.1% year-over-year).
- 2014: Revenue of $1.7M, expenses of $1.4M, and assets of $6.2M (revenue +73.4% year-over-year).
- 2013: Revenue of $998K, expenses of $1.4M, and assets of $5.8M (revenue -19.0% year-over-year).
- 2012: Revenue of $1.2M, expenses of $1.2M, and assets of $6.1M (revenue -46.5% year-over-year).
- 2011: Revenue of $2.3M, expenses of $1.1M, and assets of $5.9M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Dharma Ocean Foundation:
Data Sources and Methodology
This transparency report for Dharma Ocean Foundation 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.