Ocean Of Love Inc
Ocean Of Love Inc: Consistent Revenue, High Administrative Costs
EIN: 222940034 · Toms River, NJ · NTEE: P40Z · Updated: 2026-04-04
Is Ocean Of Love Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ocean Of Love Inc directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Ocean Of Love Inc
Ocean Of Love Inc (EIN: 222940034) is a nonprofit organization based in Toms River, NJ, classified under NTEE code P40Z. The organization reported total revenue of $602K and total assets of $524K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ocean Of Love Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Ocean Of Love 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: 25%
- programs: 60%
- fundraising: 15%
According to IRS 990 filings, Ocean Of Love Inc allocates its expenses as follows: admin: 25%, programs: 60%, fundraising: 15%. Approximately 60% goes to programs, indicating moderate mission focus.
Executive Compensation Analysis
The organization consistently reports $0 in compensation for officers, directors, trustees, and key employees across all available filings, which is highly unusual for an organization of its size and revenue.
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 Of Love Inc's IRS 990 filings:
- Consistent reporting of $0 for officer, director, trustee, and key employee compensation across multiple years (e.g., 2022, 2020, 2019) raises questions about how leadership is compensated or if services are entirely pro bono.
- Administrative expenses appear to be a significant portion of total expenses, for example, in 2022, total expenses were $500,737, with a notable portion likely allocated to administrative overhead given the $0 executive compensation.
Strengths
The following positive indicators were identified for Ocean Of Love Inc:
- Consistent revenue generation over several years, with total revenue of $590,493 in 2022 and $621,153 in 2019.
- Healthy asset base, with total assets of $590,474 in 2022.
- Low or no reported lobbying expenses (e.g., $3,766 in 2022, $4,730 in 2019).
Frequently Asked Questions about Ocean Of Love Inc
Is Ocean Of Love Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Ocean Of Love Inc (EIN: 222940034) some concerns. Mission Score: 75/100. 2 red flags identified, 3 strengths noted.
How does Ocean Of Love Inc spend its money?
Ocean Of Love Inc directs 60% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ocean Of Love Inc tax-deductible?
Ocean Of Love Inc is registered as a tax-exempt nonprofit (EIN: 222940034). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What does Ocean Of Love Inc do?
Ocean Of Love Inc is a nonprofit organization in the Human Services sector, located in Toms River, New Jersey. It is classified under NTEE code P40Z.
How much revenue does Ocean Of Love Inc have?
Ocean Of Love Inc reported total revenue of $602,313. Based on 10 IRS 990 filings on record.
What are Ocean Of Love Inc's total assets?
Ocean Of Love Inc holds total assets of $524,171 as reported in IRS 990 filings.
Where is Ocean Of Love Inc located?
Ocean Of Love Inc is based in Toms River, New Jersey.
What is Ocean Of Love Inc's EIN?
Ocean Of Love Inc's Employer Identification Number (EIN) is 222940034. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Ocean Of Love Inc?
Ocean Of Love Inc is classified under NTEE code P40Z (Human Services).
Is Ocean Of Love Inc a registered 501(c)(3)?
Yes, Ocean Of Love Inc is recognized as a tax-exempt organization by the IRS. EIN: 222940034.
Does Ocean Of Love Inc file IRS Form 990?
Yes, Ocean Of Love Inc has 10 IRS Form 990 filings on record. The most recent covers tax period 202206.
What was Ocean Of Love Inc's revenue in 2022?
In the 202206 filing period, Ocean Of Love Inc reported total revenue of $590,493, total expenses of $500,737, and net assets of $590,474.
Is Ocean Of Love Inc's revenue growing or declining?
Ocean Of Love Inc's revenue is growing. Revenue went from $406,613 (202006) to $590,493 (202206), a +45.2% change. Based on 10 filings on record.
What is Ocean Of Love Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Ocean Of Love Inc covers tax period 202206. It shows revenue of $590,493, expenses of $500,737, total assets of $590,474, and liabilities of $3,766.
How much does Ocean Of Love Inc spend on programs vs administration?
Based on IRS 990 analysis, Ocean Of Love Inc allocates approximately 60% of expenses to program services, 25% to administrative costs, and 15% to fundraising. Program spending is moderate relative to overhead.
Is Ocean Of Love Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Ocean Of Love Inc appears trustworthy. Mission Score: 75/100 (Good). 2 red flags identified. 3 strengths noted.
What are the red flags for Ocean Of Love Inc?
The following concerns were identified: Consistent reporting of $0 for officer, director, trustee, and key employee compensation across multiple years (e.g., 2022, 2020, 2019) raises questions about how leadership is compensated or if services are entirely pro bono.. Administrative expenses appear to be a significant portion of total expenses, for example, in 2022, total expenses were $500,737, with a notable portion likely allocated to administrative overhead given the $0 executive compensation.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Ocean Of Love Inc's strengths?
Positive indicators for Ocean Of Love Inc include: Consistent revenue generation over several years, with total revenue of $590,493 in 2022 and $621,153 in 2019.. Healthy asset base, with total assets of $590,474 in 2022.. Low or no reported lobbying expenses (e.g., $3,766 in 2022, $4,730 in 2019).. These findings are derived from AI analysis of the organization's financial filings.
How does Ocean Of Love Inc compensate executives?
The organization consistently reports $0 in compensation for officers, directors, trustees, and key employees across all available filings, which is highly unusual for an organization of its size and revenue. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Ocean Of Love Inc?
- Financial statements are publicly available through IRS filings. - Detailed expense breakdowns are provided, showing program, administrative, and fundraising costs. - The organization consistently reports 0% compensation to officers, directors, trustees, and key employees. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given the consistent reporting of $0 for executive compensation, how does Ocean Of Love Inc. attract and retain leadership, and what is the operational model that supports this structure?
The consistent $0 executive compensation suggests either an entirely volunteer-led executive team or that compensation is being reported under different expense categories, which would require further clarification to understand the true cost of leadership and operational sustainability.
What specific programs or services does Ocean Of Love Inc. provide to justify its program spending, and how are these programs measured for impact?
While the filings show total expenses, a detailed breakdown of program activities and their impact metrics is not readily available in the provided data, making it difficult to assess the effectiveness of program spending.
Filing History
IRS 990 filing history for Ocean Of Love Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2012–2022), Ocean Of Love Inc's revenue has declined by 20.9%, moving from $746K to $590K. Total assets decreased by 14.1% over the same period, from $687K to $590K. Total functional expenses fell by 30.7%, from $723K to $501K. In its most recent filing year (2022), Ocean Of Love Inc reported a surplus of $90K, with revenue exceeding expenses. The organization holds $4K in liabilities against $590K in assets (debt-to-asset ratio: 0.6%), resulting in net assets of $587K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2022 | $590K | $501K | $590K | $4K | — | View 990 |
| 2020 | $407K | $512K | $470K | $37K | — | View 990 |
| 2019 | $621K | $546K | $543K | $5K | — | View 990 |
| 2018 | $596K | $683K | $475K | $9K | — | View 990 |
| 2017 | $609K | $640K | $576K | $20K | — | View 990 |
| 2016 | $707K | $703K | $606K | $18K | — | View 990 |
| 2015 | $748K | $769K | $600K | $14K | — | View 990 |
| 2014 | $715K | $642K | $615K | $10K | — | View 990 |
| 2013 | $717K | $844K | $562K | $31K | — | View 990 |
| 2012 | $746K | $723K | $687K | $29K | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $590K, expenses of $501K, and assets of $590K (revenue +45.2% year-over-year).
- 2020: Revenue of $407K, expenses of $512K, and assets of $470K (revenue -34.5% year-over-year).
- 2019: Revenue of $621K, expenses of $546K, and assets of $543K (revenue +4.2% year-over-year).
- 2018: Revenue of $596K, expenses of $683K, and assets of $475K (revenue -2.0% year-over-year).
- 2017: Revenue of $609K, expenses of $640K, and assets of $576K (revenue -13.9% year-over-year).
- 2016: Revenue of $707K, expenses of $703K, and assets of $606K (revenue -5.5% year-over-year).
- 2015: Revenue of $748K, expenses of $769K, and assets of $600K (revenue +4.7% year-over-year).
- 2014: Revenue of $715K, expenses of $642K, and assets of $615K (revenue -0.3% year-over-year).
- 2013: Revenue of $717K, expenses of $844K, and assets of $562K (revenue -3.9% year-over-year).
- 2012: Revenue of $746K, expenses of $723K, and assets of $687K.
Data Sources and Methodology
This transparency report for Ocean Of Love 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.