Ocean City 2406 Inc

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Ocean City 2406 Inc Form 990, Revenue, CEO Pay, and IRS Filing Signals

Ocean City 2406 Inc is surfaced here as a decision-ready nonprofit financial profile, not just a charity listing. The page consolidates IRS Form 990 revenue, expenses, assets, tax-exempt classification, executive compensation, mission score, red flags, and year-by-year filing history so donors, researchers, journalists, and grant teams can answer the common search questions around Ocean City 2406 Inc in one place.

Is Ocean City 2406 Inc Legit?

Some Concerns

Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →

IRS 990 Data Cockpit

Where the Money Comes From and Where It Goes

Across stored filings, Ocean City 2406 Inc shows contribution history pending. Next enrichment targets: revenue-source fields, IRS BMF classification.

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Keep the Investigation Moving

Ocean City 2406 Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.

About Ocean City 2406 Inc

Ocean City 2406 Inc (EIN: 222294651) is a nonprofit organization based in Neptune, NJ, classified under NTEE code L21Z. The organization reported total revenue of $1.3M and total assets of $4.9M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ocean City 2406 Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

Organization Overview

Ocean City 2406 Inc is a mid-size nonprofit that has been operating for 41 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 2.5%.

Key Financial Metrics (2023)

From the most recent IRS 990 filing on record:

Financial Health Grade: C

In 2023, Ocean City 2406 Inc reported a deficit of $15K with expenses exceeding revenue, holds 53.9 months of operating reserves (strong position), has a debt-to-asset ratio of 91.5% (high leverage).

Financial Trends

Over 12 years of filings (2012–2023), Ocean City 2406 Inc's revenue has grown at a compound annual growth rate (CAGR) of 2.5%.

IRS Tax-Exempt Classification

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 City 2406 Inc with a Mission Score of 75 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: 70%
• fundraising: 15%

According to IRS 990 filings, Ocean City 2406 Inc allocates its expenses as follows: admin: 15%, programs: 70%, fundraising: 15%. 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 $15K, with expenses exceeding revenue.
• Debt-to-asset ratio: 91.5%.

Executive Compensation Analysis

Executive compensation cannot be assessed from the provided data as no specific figures for salaries or compensation are available in the 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 Ocean City 2406 Inc's IRS 990 filings:

• Lack of detailed expense breakdown (program, admin, fundraising) in provided filings.
• No executive compensation data available for assessment.

Strengths

The following positive indicators were identified for Ocean City 2406 Inc:

• Consistent revenue generation over the past several years, with 2023 revenue at $1,291,212.
• Significant growth in assets from $1,779,996 in 2021 to $5,869,330 in 2023, indicating strong financial health.
• Positive net assets (assets exceeding liabilities) consistently maintained across all reported years.

Frequently Asked Questions about Ocean City 2406 Inc

Filing History

IRS 990 filing history for Ocean City 2406 Inc showing financial trends over 12 years of public records:

Over 12 years of IRS 990 filings (2012–2023), Ocean City 2406 Inc's revenue has grown by 31.5%, moving from $982K to $1.3M. Total assets increased by 280.9% over the same period, from $1.5M to $5.9M. Total functional expenses rose by 51.7%, from $861K to $1.3M. In its most recent filing year (2023), Ocean City 2406 Inc reported a deficit of $15K, with expenses exceeding revenue. The organization holds $5.4M in liabilities against $5.9M in assets (debt-to-asset ratio: 91.5%), resulting in net assets of $502K.

Year-by-Year Financial Summary

• 2023: Revenue of $1.3M, expenses of $1.3M, and assets of $5.9M (revenue +1.2% year-over-year).
• 2022: Revenue of $1.3M, expenses of $1.1M, and assets of $5.0M (revenue +12.7% year-over-year).
• 2021: Revenue of $1.1M, expenses of $1.1M, and assets of $1.8M (revenue -3.6% year-over-year).
• 2020: Revenue of $1.2M, expenses of $1.0M, and assets of $1.8M (revenue -0.7% year-over-year).
• 2019: Revenue of $1.2M, expenses of $1.0M, and assets of $1.6M (revenue +4.5% year-over-year).
• 2018: Revenue of $1.1M, expenses of $1.1M, and assets of $1.6M (revenue +6.3% year-over-year).
• 2017: Revenue of $1.1M, expenses of $926K, and assets of $1.6M (revenue -0.1% year-over-year).
• 2016: Revenue of $1.1M, expenses of $940K, and assets of $1.6M (revenue +2.0% year-over-year).
• 2015: Revenue of $1.0M, expenses of $1.0M, and assets of $1.5M (revenue +3.4% year-over-year).
• 2014: Revenue of $1.0M, expenses of $889K, and assets of $1.6M (revenue +0.3% year-over-year).
• 2013: Revenue of $1.0M, expenses of $892K, and assets of $1.5M (revenue +2.6% year-over-year).
• 2012: Revenue of $982K, expenses of $861K, and assets of $1.5M.

View Individual Filing Years

Explore detailed financial data from each IRS 990 filing year for Ocean City 2406 Inc:

Data Sources and Methodology

This transparency report for Ocean City 2406 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.