Ocean Agency
EIN: 843398911 · Newport, RI · NTEE: C30
| Metric | Value |
|---|---|
| Total Revenue | $210K |
| Total Expenses | $255K |
| Net Assets | $55K |
Is Ocean Agency Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Ocean Agency
Ocean Agency (EIN: 843398911) is a nonprofit organization based in Newport, RI, classified under NTEE code C30. The organization reported total revenue of $210K and total assets of $31K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ocean Agency's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ocean Agency is a small nonprofit that has been operating for 6 years, with 4 years of IRS 990 filings on record (2020–2023). Revenue has grown at a compound annual rate of -32.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $174K |
| Total Expenses | $255K |
| Surplus / Deficit | $-80,699 |
| Total Assets | $63K |
| Total Liabilities | $8K |
| Net Assets | $55K |
| Operating Margin | -46.4% |
| Debt-to-Asset Ratio | 12.4% |
| Months of Reserves | 3.0 months |
Financial Health Grade: B
In 2023, Ocean Agency reported a deficit of $81K with expenses exceeding revenue, holds 3.0 months of operating reserves (adequate), has a debt-to-asset ratio of 12.4% (very low leverage).
Financial Trends
Over 4 years of filings (2020–2023), Ocean Agency's revenue has declined at a compound annual growth rate (CAGR) of -32.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -41.0% | -38.6% | -59.4% |
| 2022 | -11.6% | +11.4% | -42.1% |
| 2021 | -39.9% | +42.4% | -14.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2020 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Ocean Agency has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Ocean Agency with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $81K, with expenses exceeding revenue.
- Debt-to-asset ratio: 12.4%.
Frequently Asked Questions about Ocean Agency
Is Ocean Agency a legitimate charity?
Based on AI analysis of IRS 990 filings, Ocean Agency (EIN: 843398911) insufficient data. 0 red flags identified, 0 strengths noted.
How does Ocean Agency spend its money?
Detailed spending breakdown data is not yet available for Ocean Agency. Check back for updated IRS 990 analysis.
Are donations to Ocean Agency tax-deductible?
Ocean Agency is registered as a tax-exempt nonprofit (EIN: 843398911). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Ocean Agency located?
Ocean Agency is headquartered in Newport, Rhode Island and files with the IRS under EIN 843398911. It is classified under NTEE code C30.
How many years of IRS 990 filings does Ocean Agency have?
Ocean Agency has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data. The most recent filing shows $210K in total revenue.
Filing History
IRS 990 filing history for Ocean Agency showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2020–2023), Ocean Agency's revenue has declined by 68.7%, moving from $555K to $174K. Total assets decreased by 79.9% over the same period, from $314K to $63K. Total functional expenses fell by 2.5%, from $261K to $255K. In its most recent filing year (2023), Ocean Agency reported a deficit of $81K, with expenses exceeding revenue. The organization holds $8K in liabilities against $63K in assets (debt-to-asset ratio: 12.4%), resulting in net assets of $55K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $174K | $255K | $63K | $8K | — | — |
| 2022 | $295K | $415K | $155K | $19K | — | — |
| 2021 | $334K | $372K | $268K | $13K | — | View 990 |
| 2020 | $555K | $261K | $314K | $20K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $174K, expenses of $255K, and assets of $63K (revenue -41.0% year-over-year).
- 2022: Revenue of $295K, expenses of $415K, and assets of $155K (revenue -11.6% year-over-year).
- 2021: Revenue of $334K, expenses of $372K, and assets of $268K (revenue -39.9% year-over-year).
- 2020: Revenue of $555K, expenses of $261K, and assets of $314K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ocean Agency:
Data Sources and Methodology
This transparency report for Ocean Agency 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.