Ocean State Job Lot Charitable Foundation
Ocean State Job Lot Charitable Foundation shows strong financial growth and zero reported officer compensation.
EIN: 200959438 · N Kingstown, RI · NTEE: P60 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.6M |
| Total Expenses | $17.2M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $17.7 |
| Net Assets | $3.6M |
| Transparency Score | 92/100 |
Is Ocean State Job Lot Charitable Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Ocean State Job Lot Charitable Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Ocean State Job Lot Charitable Foundation
Ocean State Job Lot Charitable Foundation (EIN: 200959438) is a nonprofit organization based in N Kingstown, RI, classified under NTEE code P60. The organization reported total revenue of $6.6M and total assets of $5.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Ocean State Job Lot Charitable Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Ocean State Job Lot Charitable Foundation is a mid-size nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 21.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $17.8M |
| Total Expenses | $17.2M |
| Surplus / Deficit | +$573K |
| Total Assets | $5.2M |
| Total Liabilities | $1.6M |
| Net Assets | $3.6M |
| Operating Margin | 3.2% |
| Debt-to-Asset Ratio | 31.6% |
| Months of Reserves | 3.6 months |
Financial Health Grade: A
In 2023, Ocean State Job Lot Charitable Foundation reported a surplus of $573K with revenue exceeding expenses, holds 3.6 months of operating reserves (adequate), has a debt-to-asset ratio of 31.6% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Ocean State Job Lot Charitable Foundation's revenue has grown at a compound annual growth rate (CAGR) of 21.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +107.5% | +107.8% | +43.4% |
| 2022 | +8.0% | -23.5% | -27.8% |
| 2021 | -14.5% | +17.4% | -11.2% |
| 2020 | +33.7% | +17.0% | -2.3% |
| 2019 | +8.5% | +13.2% | +4.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 State Job Lot Charitable Foundation 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Ocean State Job Lot Charitable Foundation allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. 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 $573K, with revenue exceeding expenses.
- Debt-to-asset ratio: 31.6%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, which is highly unusual for an organization of this size with revenues reaching $17.7 million. This suggests that key leadership may be compensated by the parent company, Ocean State Job Lot, or serve in a purely voluntary capacity, which significantly reduces overhead costs for the foundation.
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 State Job Lot Charitable Foundation's IRS 990 filings:
- Zero reported officer compensation may indicate compensation is handled by a related entity, potentially obscuring the true administrative cost if not fully disclosed elsewhere.
Strengths
The following positive indicators were identified for Ocean State Job Lot Charitable Foundation:
- Consistent and significant revenue growth over the past decade, from $3.4M to $17.7M.
- Strong financial health with assets consistently exceeding liabilities.
- Reported 0% officer compensation, suggesting high efficiency in leadership costs.
- Positive net income in most recent filing ($17.7M revenue vs. $17.2M expenses in 202312).
Frequently Asked Questions about Ocean State Job Lot Charitable Foundation
Is Ocean State Job Lot Charitable Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Ocean State Job Lot Charitable Foundation (EIN: 200959438) some concerns. Mission Score: 92/100. 1 red flag identified, 4 strengths noted.
How does Ocean State Job Lot Charitable Foundation spend its money?
Ocean State Job Lot Charitable Foundation directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Ocean State Job Lot Charitable Foundation tax-deductible?
Ocean State Job Lot Charitable Foundation is registered as a tax-exempt nonprofit (EIN: 200959438). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Ocean State Job Lot Charitable Foundation CEO make?
Ocean State Job Lot Charitable Foundation's highest-compensated officer earns $17.7 annually. The organization reported $6.6M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Ocean State Job Lot Charitable Foundation's spending goes to programs?
Ocean State Job Lot Charitable Foundation directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Ocean State Job Lot Charitable Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Ocean State Job Lot Charitable Foundation is above average for NTEE category P60 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Ocean State Job Lot Charitable Foundation located?
Ocean State Job Lot Charitable Foundation is headquartered in N Kingstown, Rhode Island and files with the IRS under EIN 200959438. It is classified under NTEE code P60.
How many years of IRS 990 filings does Ocean State Job Lot Charitable Foundation have?
Ocean State Job Lot Charitable Foundation has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $6.6M in total revenue.
Is Ocean State Job Lot Charitable Foundation a good charity?
Based on the provided financial data, the foundation appears to be a very good charity. It demonstrates strong financial health, consistent revenue growth, and notably reports 0% officer compensation, suggesting a high dedication of resources to its mission.
How has the foundation's revenue grown over time?
The foundation has shown significant revenue growth, increasing from $3,415,094 in 201412 to $17,787,169 in 202312, indicating a substantial expansion of its financial capacity and donor support.
What is the foundation's financial stability?
The foundation exhibits strong financial stability, consistently maintaining assets significantly higher than liabilities. For example, in 202312, assets were $5,195,502 against liabilities of $1,642,278.
Filing History
IRS 990 filing history for Ocean State Job Lot Charitable Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Ocean State Job Lot Charitable Foundation's revenue has grown by 896.5%, moving from $1.8M to $17.8M. Total assets increased by 212.4% over the same period, from $1.7M to $5.2M. Total functional expenses rose by 785.6%, from $1.9M to $17.2M. In its most recent filing year (2023), Ocean State Job Lot Charitable Foundation reported a surplus of $573K, with revenue exceeding expenses. The organization holds $1.6M in liabilities against $5.2M in assets (debt-to-asset ratio: 31.6%), resulting in net assets of $3.6M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $17.8M | $17.2M | $5.2M | $1.6M | — | — |
| 2022 | $8.6M | $8.3M | $3.6M | $1.2M | — | View 990 |
| 2021 | $7.9M | $10.8M | $5.0M | $2.1M | — | View 990 |
| 2020 | $9.3M | $9.2M | $5.7M | $303K | — | — |
| 2019 | $6.9M | $7.9M | $5.8M | $787K | — | View 990 |
| 2018 | $6.4M | $7.0M | $5.6M | $684K | — | View 990 |
| 2017 | $5.0M | $5.5M | $5.8M | $800 | — | — |
| 2016 | $4.8M | $3.7M | $5.4M | $171K | — | View 990 |
| 2015 | $4.3M | $3.9M | $3.7M | $34K | — | View 990 |
| 2014 | $3.4M | $2.8M | $5.0M | $1.5M | — | View 990 |
| 2013 | $4.0M | $2.9M | $3.6M | $774K | — | View 990 |
| 2012 | $2.5M | $1.9M | $2.0M | $2K | — | View 990 |
| 2011 | $1.8M | $1.9M | $1.7M | $359K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $17.8M, expenses of $17.2M, and assets of $5.2M (revenue +107.5% year-over-year).
- 2022: Revenue of $8.6M, expenses of $8.3M, and assets of $3.6M (revenue +8.0% year-over-year).
- 2021: Revenue of $7.9M, expenses of $10.8M, and assets of $5.0M (revenue -14.5% year-over-year).
- 2020: Revenue of $9.3M, expenses of $9.2M, and assets of $5.7M (revenue +33.7% year-over-year).
- 2019: Revenue of $6.9M, expenses of $7.9M, and assets of $5.8M (revenue +8.5% year-over-year).
- 2018: Revenue of $6.4M, expenses of $7.0M, and assets of $5.6M (revenue +29.0% year-over-year).
- 2017: Revenue of $5.0M, expenses of $5.5M, and assets of $5.8M (revenue +2.4% year-over-year).
- 2016: Revenue of $4.8M, expenses of $3.7M, and assets of $5.4M (revenue +12.4% year-over-year).
- 2015: Revenue of $4.3M, expenses of $3.9M, and assets of $3.7M (revenue +26.2% year-over-year).
- 2014: Revenue of $3.4M, expenses of $2.8M, and assets of $5.0M (revenue -15.4% year-over-year).
- 2013: Revenue of $4.0M, expenses of $2.9M, and assets of $3.6M (revenue +59.5% year-over-year).
- 2012: Revenue of $2.5M, expenses of $1.9M, and assets of $2.0M (revenue +41.8% year-over-year).
- 2011: Revenue of $1.8M, expenses of $1.9M, and assets of $1.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Ocean State Job Lot Charitable Foundation:
Data Sources and Methodology
This transparency report for Ocean State Job Lot Charitable 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.