Ocean Carrier Equipment Management Association Inc
Ocean Carrier Equipment Management Association Inc. maintains strong financial health with zero liabilities and no reported officer compensation.
EIN: 202563404 · Washington, DC · NTEE: S41 · Updated: 2026-03-28
Is Ocean Carrier Equipment Management Association Inc Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ocean Carrier Equipment Management Association Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ocean Carrier Equipment Management Association Inc
Ocean Carrier Equipment Management Association Inc (EIN: 202563404) is a nonprofit organization based in Washington, DC, classified under NTEE code S41. The organization reported total revenue of $660K and total assets of $684K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ocean Carrier Equipment Management Association Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ocean Carrier Equipment Management Association Inc is a small nonprofit that has been operating for 16 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 3.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $719K |
| Total Expenses | $592K |
| Surplus / Deficit | +$127K |
| Total Assets | $618K |
| Net Assets | $618K |
| Operating Margin | 17.7% |
| Months of Reserves | 12.5 months |
Financial Health Grade: A
In 2023, Ocean Carrier Equipment Management Association Inc reported a surplus of $127K with revenue exceeding expenses, holds 12.5 months of operating reserves (strong position).
Financial Trends
Over 14 years of filings (2010–2023), Ocean Carrier Equipment Management Association Inc's revenue has grown at a compound annual growth rate (CAGR) of 3.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +15.9% | -9.5% | +25.9% |
| 2022 | +25.1% | +65.1% | -6.4% |
| 2021 | +19.9% | -13.1% | +23.7% |
| 2020 | -23.1% | -24.6% | -9.0% |
| 2019 | -29.9% | +24.1% | -12.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2010 |
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 Ocean Carrier Equipment Management Association Inc with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Ocean Carrier Equipment Management Association Inc allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 surplus of $127K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is either entirely volunteer-based or compensated through other means not categorized as officer compensation, which significantly reduces overhead for an organization of its size (latest revenue $660,257).
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.
Strengths
The following positive indicators were identified for Ocean Carrier Equipment Management Association Inc:
- Consistent reporting of zero liabilities across all filings, indicating strong financial management.
- No reported officer compensation, suggesting high efficiency and potentially volunteer leadership.
- Healthy asset base relative to annual revenue, providing financial stability (e.g., $617,537 assets vs. $719,321 revenue in 2023).
- Positive net income in recent years (e.g., $127,142 in 2023), contributing to asset growth.
- Long and consistent IRS 990 filing history (14 filings), demonstrating transparency.
Frequently Asked Questions about Ocean Carrier Equipment Management Association Inc
Is Ocean Carrier Equipment Management Association Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Ocean Carrier Equipment Management Association Inc (EIN: 202563404) appears legitimate. Mission Score: 92/100. 0 red flags identified, 5 strengths noted.
How does Ocean Carrier Equipment Management Association Inc spend its money?
Ocean Carrier Equipment Management Association Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ocean Carrier Equipment Management Association Inc tax-deductible?
Ocean Carrier Equipment Management Association Inc is registered as a tax-exempt nonprofit (EIN: 202563404). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Ocean Carrier Equipment Management Association Inc. a good charity?
Based on the available financial data, OCEMA appears to be a well-managed organization with strong financial health, zero liabilities, and a high proportion of spending likely directed towards its mission, given the absence of officer compensation and fundraising expenses.
How does OCEMA manage to have 0% officer compensation?
The IRS 990 filings consistently report 0% officer compensation, suggesting that the organization's leadership may be entirely volunteer-based or that compensation is structured in a way that does not fall under the 'officer compensation' category on the 990 form. This is a significant factor in its operational efficiency.
What is the trend in OCEMA's revenue and expenses?
OCEMA's revenue and expenses have fluctuated over the years, with revenue ranging from $406,372 (2014) to $767,845 (2018) and expenses from $396,052 (2021) to $834,063 (2016). In recent years, revenue has generally exceeded expenses, leading to asset growth, such as in 2023 where revenue was $719,321 and expenses were $592,179.
Filing History
IRS 990 filing history for Ocean Carrier Equipment Management Association Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Ocean Carrier Equipment Management Association Inc's revenue has grown by 55.9%, moving from $462K to $719K. Total assets increased by 13% over the same period, from $547K to $618K. Total functional expenses rose by 8.3%, from $547K to $592K. In its most recent filing year (2023), Ocean Carrier Equipment Management Association Inc reported a surplus of $127K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $719K | $592K | $618K | $0 | — | — |
| 2022 | $621K | $654K | $490K | $0 | — | View 990 |
| 2021 | $496K | $396K | $524K | $0 | — | View 990 |
| 2020 | $414K | $456K | $424K | $0 | — | View 990 |
| 2019 | $538K | $604K | $465K | $0 | — | — |
| 2018 | $768K | $487K | $531K | $0 | — | View 990 |
| 2017 | $533K | $535K | $250K | $0 | — | View 990 |
| 2016 | $634K | $834K | $252K | $0 | — | View 990 |
| 2015 | $696K | $564K | $452K | $0 | — | View 990 |
| 2014 | $406K | $486K | $320K | $0 | — | View 990 |
| 2013 | $744K | $555K | $400K | $0 | — | View 990 |
| 2012 | $453K | $666K | $211K | $0 | — | View 990 |
| 2011 | $488K | $611K | $424K | $0 | — | View 990 |
| 2010 | $462K | $547K | $547K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $719K, expenses of $592K, and assets of $618K (revenue +15.9% year-over-year).
- 2022: Revenue of $621K, expenses of $654K, and assets of $490K (revenue +25.1% year-over-year).
- 2021: Revenue of $496K, expenses of $396K, and assets of $524K (revenue +19.9% year-over-year).
- 2020: Revenue of $414K, expenses of $456K, and assets of $424K (revenue -23.1% year-over-year).
- 2019: Revenue of $538K, expenses of $604K, and assets of $465K (revenue -29.9% year-over-year).
- 2018: Revenue of $768K, expenses of $487K, and assets of $531K (revenue +44.1% year-over-year).
- 2017: Revenue of $533K, expenses of $535K, and assets of $250K (revenue -16.0% year-over-year).
- 2016: Revenue of $634K, expenses of $834K, and assets of $252K (revenue -8.8% year-over-year).
- 2015: Revenue of $696K, expenses of $564K, and assets of $452K (revenue +71.2% year-over-year).
- 2014: Revenue of $406K, expenses of $486K, and assets of $320K (revenue -45.4% year-over-year).
- 2013: Revenue of $744K, expenses of $555K, and assets of $400K (revenue +64.4% year-over-year).
- 2012: Revenue of $453K, expenses of $666K, and assets of $211K (revenue -7.3% year-over-year).
- 2011: Revenue of $488K, expenses of $611K, and assets of $424K (revenue +5.7% year-over-year).
- 2010: Revenue of $462K, expenses of $547K, and assets of $547K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ocean Carrier Equipment Management Association Inc:
Data Sources and Methodology
This transparency report for Ocean Carrier Equipment Management Association Inc 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.