Oceans Harbor House Inc

Is Oceans Harbor House Inc Legit?

Some Concerns

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

Oceans Harbor House Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.

About Oceans Harbor House Inc

Oceans Harbor House Inc (EIN: 222672209) is a nonprofit organization based in Toms River, NJ, classified under NTEE code P300. The organization reported total revenue of $1.3M and total assets of $978K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Oceans Harbor House 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 Oceans Harbor House Inc with a Mission Score of 65 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: 75%
• fundraising: 10%

According to IRS 990 filings, Oceans Harbor House Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.

Executive Compensation Analysis

Executive compensation cannot be assessed from the provided data, as no specific compensation figures for executives are included in the financial 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 Oceans Harbor House Inc's IRS 990 filings:

• Consistent operational deficits: Expenses have exceeded revenue in all provided years, with a notable deficit of $240,308 in 2023.
• Increasing liabilities: Liabilities have grown from $491,305 in 2019 to $723,760 in 2023, indicating potential financial strain.
• Declining assets: Total assets have decreased from $2,154,453 in 2020 to $1,422,444 in 2023.

Strengths

The following positive indicators were identified for Oceans Harbor House Inc:

• Stable revenue base: Revenue has remained relatively consistent, hovering around $1.8M-$2.1M annually over the past several years.
• Long operational history: Data spans from 2016 to 2023, suggesting a well-established organization.

Frequently Asked Questions about Oceans Harbor House Inc

Filing History

IRS 990 filing history for Oceans Harbor House Inc showing financial trends over 13 years of public records:

Over 13 years of IRS 990 filings (2011–2023), Oceans Harbor House Inc's revenue has grown by 20.3%, moving from $1.8M to $2.2M. Total assets decreased by 32.5% over the same period, from $2.1M to $1.4M. Total functional expenses rose by 37.5%, from $1.7M to $2.4M. In its most recent filing year (2023), Oceans Harbor House Inc reported a deficit of $231K, with expenses exceeding revenue. The organization holds $724K in liabilities against $1.4M in assets (debt-to-asset ratio: 50.9%), resulting in net assets of $699K.

Year-by-Year Financial Summary

• 2023: Revenue of $2.2M, expenses of $2.4M, and assets of $1.4M (revenue +13.5% year-over-year).
• 2022: Revenue of $1.9M, expenses of $2.3M, and assets of $1.5M (revenue -9.0% year-over-year).
• 2021: Revenue of $2.1M, expenses of $2.1M, and assets of $1.8M (revenue +7.4% year-over-year).
• 2020: Revenue of $2.0M, expenses of $2.0M, and assets of $2.2M (revenue +8.1% year-over-year).
• 2019: Revenue of $1.8M, expenses of $2.1M, and assets of $1.8M (revenue +0.0% year-over-year).
• 2018: Revenue of $1.8M, expenses of $2.0M, and assets of $2.0M (revenue -4.5% year-over-year).
• 2017: Revenue of $1.9M, expenses of $1.9M, and assets of $2.2M (revenue -2.0% year-over-year).
• 2016: Revenue of $1.9M, expenses of $1.8M, and assets of $2.1M (revenue +2.5% year-over-year).
• 2015: Revenue of $1.9M, expenses of $1.7M, and assets of $2.1M (revenue -2.7% year-over-year).
• 2014: Revenue of $1.9M, expenses of $1.8M, and assets of $2.0M (revenue +6.4% year-over-year).
• 2013: Revenue of $1.8M, expenses of $1.7M, and assets of $1.8M (revenue +11.0% year-over-year).
• 2012: Revenue of $1.6M, expenses of $1.7M, and assets of $1.8M (revenue -9.1% year-over-year).
• 2011: Revenue of $1.8M, expenses of $1.7M, and assets of $2.1M.

Data Sources and Methodology

This transparency report for Oceans Harbor House 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.