Oceangate Foundation
EIN: 272857478 · Seattle, WA
| Metric | Value |
|---|---|
| Total Expenses | $138K |
| Net Assets | $-71,653 |
Is Oceangate Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Oceangate Foundation
Oceangate Foundation (EIN: 272857478) is a nonprofit organization based in Seattle, WA. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Oceangate Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Oceangate Foundation is a small nonprofit, with 4 years of IRS 990 filings on record (2011–2014). Revenue has grown at a compound annual rate of -7.3%.
Key Financial Metrics (2014)
From the most recent IRS 990 filing on record:
| Total Revenue | $218K |
| Total Expenses | $138K |
| Surplus / Deficit | +$80K |
| Total Assets | $138K |
| Total Liabilities | $210K |
| Net Assets | $-71,653 |
| Operating Margin | 36.6% |
| Debt-to-Asset Ratio | 151.9% |
| Months of Reserves | 12.0 months |
Financial Health Grade: A
In 2014, Oceangate Foundation reported a surplus of $80K with revenue exceeding expenses, holds 12.0 months of operating reserves (strong position), has a debt-to-asset ratio of 151.9% (high leverage).
Financial Trends
Over 4 years of filings (2011–2014), Oceangate Foundation's revenue has declined at a compound annual growth rate (CAGR) of -7.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2014 | +28.5% | -10.0% | +85.6% |
| 2013 | +22.3% | +46.5% | +22.2% |
| 2012 | -49.4% | -74.0% | -14.9% |
AI Analysis Pending
AI enrichment for Oceangate Foundation 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 Oceangate Foundation 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 (2014)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $80K, with revenue exceeding expenses.
- Debt-to-asset ratio: 151.9%.
Frequently Asked Questions about Oceangate Foundation
Is Oceangate Foundation a legitimate charity?
Oceangate Foundation (EIN: 272857478) is a registered tax-exempt nonprofit based in Washington. It has 4 years of IRS 990 filings on record. No red flags identified. Financial health grade: A.
How does Oceangate Foundation spend its money?
Oceangate Foundation reported its financials in IRS 990 filings. 4 years of filing data available. Revenue exceeded expenses in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Oceangate Foundation tax-deductible?
Oceangate Foundation is registered as a tax-exempt nonprofit (EIN: 272857478). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Oceangate Foundation located?
Oceangate Foundation is headquartered in Seattle, Washington and files with the IRS under EIN 272857478.
How many years of IRS 990 filings does Oceangate Foundation have?
Oceangate Foundation has 4 years of IRS 990 filings on record at NonprofitSpending. Additional filing years may become available as the IRS releases new data.
Filing History
IRS 990 filing history for Oceangate Foundation showing financial trends over 4 years of public records:
Over 4 years of IRS 990 filings (2011–2014), Oceangate Foundation's revenue has declined by 20.4%, moving from $274K to $218K. Total assets increased by 93% over the same period, from $72K to $138K. Total functional expenses fell by 65.6%, from $402K to $138K. In its most recent filing year (2014), Oceangate Foundation reported a surplus of $80K, with revenue exceeding expenses. The organization holds $210K in liabilities against $138K in assets (debt-to-asset ratio: 151.9%), resulting in net assets of $-71,653.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2014 | $218K | $138K | $138K | $210K | — | View 990 |
| 2013 | $169K | $153K | $74K | $217K | — | View 990 |
| 2012 | $138K | $105K | $61K | $200K | — | View 990 |
| 2011 | $274K | $402K | $72K | $200K | — | View 990 |
Year-by-Year Financial Summary
- 2014: Revenue of $218K, expenses of $138K, and assets of $138K (revenue +28.5% year-over-year).
- 2013: Revenue of $169K, expenses of $153K, and assets of $74K (revenue +22.3% year-over-year).
- 2012: Revenue of $138K, expenses of $105K, and assets of $61K (revenue -49.4% year-over-year).
- 2011: Revenue of $274K, expenses of $402K, and assets of $72K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Oceangate Foundation:
Data Sources and Methodology
This transparency report for Oceangate 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.