Oceanside Library
Oceanside Library shows strong asset growth and consistent financial management with no reported officer compensation.
EIN: 111889760 · Oceanside, NY · NTEE: B71Z · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $8.3M |
| Total Expenses | $7.5M |
| Program Spending | 90% |
| CEO/Top Officer Pay | $7 |
| Net Assets | $2.8M |
| Transparency Score | 92/100 |
Is Oceanside Library Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Oceanside Library directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Oceanside Library
Oceanside Library (EIN: 111889760) is a nonprofit organization based in Oceanside, NY, classified under NTEE code B71Z. The organization reported total revenue of $8.3M and total assets of $46.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Oceanside Library's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Oceanside Library is a mid-size nonprofit that has been operating for 47 years, with 12 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 5.7%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $7.7M |
| Total Expenses | $7.5M |
| Surplus / Deficit | +$234K |
| Total Assets | $47.2M |
| Total Liabilities | $44.5M |
| Net Assets | $2.8M |
| Operating Margin | 3.0% |
| Debt-to-Asset Ratio | 94.2% |
| Months of Reserves | 75.6 months |
Financial Health Grade: A
In 2023, Oceanside Library reported a surplus of $234K with revenue exceeding expenses, holds 75.6 months of operating reserves (strong position), has a debt-to-asset ratio of 94.2% (high leverage).
Financial Trends
Over 12 years of filings (2012–2023), Oceanside Library's revenue has grown at a compound annual growth rate (CAGR) of 5.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +10.9% | +13.7% | +1.6% |
| 2022 | +0.6% | +26.8% | +338.5% |
| 2021 | +43.5% | +-0.0% | +31.1% |
| 2020 | +2.8% | +6.3% | +9.5% |
| 2019 | +2.8% | +5.5% | -2.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1979 |
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 Oceanside Library 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: 8%
- programs: 90%
- fundraising: 2%
According to IRS 990 filings, Oceanside Library allocates its expenses as follows: admin: 8%, programs: 90%, fundraising: 2%. 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 $234K, with revenue exceeding expenses.
- Debt-to-asset ratio: 94.2%.
Executive Compensation Analysis
Oceanside Library consistently reports 0% officer compensation across all available filings, indicating that no salaries are paid to officers, which is highly unusual for an organization of its size with annual expenses exceeding $7 million. This suggests either a volunteer leadership structure or that compensation is categorized differently, but as reported, it reflects a strong commitment to directing funds away from executive pay.
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 Oceanside Library's IRS 990 filings:
- Unusually high asset growth between 2021 and 2022 without immediate explanation in summary data, warranting further investigation.
- Consistent 0% officer compensation for an organization of this scale, which is atypical and may obscure how leadership is compensated or structured.
Strengths
The following positive indicators were identified for Oceanside Library:
- Strong financial health with revenues consistently covering expenses in recent years.
- Significant growth in assets, indicating potential for expanded services or long-term stability.
- Consistent history of IRS 990 filings, demonstrating transparency.
- No reported officer compensation, suggesting a high dedication of funds to the mission.
Frequently Asked Questions about Oceanside Library
Is Oceanside Library a legitimate charity?
Based on AI analysis of IRS 990 filings, Oceanside Library (EIN: 111889760) some concerns. Mission Score: 92/100. 2 red flags identified, 4 strengths noted.
How does Oceanside Library spend its money?
Oceanside Library directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Oceanside Library tax-deductible?
Oceanside Library is registered as a tax-exempt nonprofit (EIN: 111889760). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Oceanside Library CEO make?
Oceanside Library's highest-compensated officer earns $7 annually. The organization reported $8.3M in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Oceanside Library's spending goes to programs?
Oceanside Library directs 90% to programs, 2% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Oceanside Library compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), Oceanside Library is above average for NTEE category B71Z nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Oceanside Library located?
Oceanside Library is headquartered in Oceanside, New York and files with the IRS under EIN 111889760. It is classified under NTEE code B71Z.
How many years of IRS 990 filings does Oceanside Library have?
Oceanside Library has 12 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 $8.3M in total revenue.
How did Oceanside Library's assets increase from $10.6 million in 2021 to $46.5 million in 2022?
The significant jump in assets from $10,599,221 in 202106 to $46,476,817 in 202206 is a notable financial event. This could be due to a major capital campaign, a large grant, a significant endowment contribution, or revaluation of existing assets. Further investigation into the detailed 990 forms for those periods would clarify the source of this substantial increase.
What is the breakdown of the $7.5 million in expenses for the 202306 period?
While the provided data shows total expenses of $7,502,970 for 202306, it does not detail the specific allocation between program services, administrative costs, and fundraising. A deeper dive into the full IRS Form 990 would be necessary to understand the precise spending categories.
Is the 0% officer compensation sustainable for an organization of this size?
Reporting 0% officer compensation for an organization with over $7 million in annual expenses is highly unusual. While it suggests a strong dedication to mission, it raises questions about how leadership roles are compensated or structured. It could indicate a fully volunteer board and executive team, or that compensation is reported under different categories (e.g., staff salaries if officers are also employees). This practice, while seemingly efficient, might not be sustainable for all organizational structures without robust volunteer engagement.
Filing History
IRS 990 filing history for Oceanside Library showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2012–2023), Oceanside Library's revenue has grown by 84.9%, moving from $4.2M to $7.7M. Total assets increased by 488.1% over the same period, from $8.0M to $47.2M. Total functional expenses rose by 86.9%, from $4.0M to $7.5M. In its most recent filing year (2023), Oceanside Library reported a surplus of $234K, with revenue exceeding expenses. The organization holds $44.5M in liabilities against $47.2M in assets (debt-to-asset ratio: 94.2%), resulting in net assets of $2.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $7.7M | $7.5M | $47.2M | $44.5M | — | View 990 |
| 2022 | $7.0M | $6.6M | $46.5M | $44.2M | — | View 990 |
| 2021 | $6.9M | $5.2M | $10.6M | $8.6M | — | — |
| 2020 | $4.8M | $5.2M | $8.1M | $7.8M | — | View 990 |
| 2019 | $4.7M | $4.9M | $7.4M | $6.7M | — | View 990 |
| 2018 | $4.6M | $4.6M | $7.6M | $6.7M | — | — |
| 2017 | $4.5M | $4.8M | $7.5M | $4.1M | — | View 990 |
| 2016 | $4.5M | $4.8M | $8.1M | $4.3M | — | View 990 |
| 2015 | $4.4M | $4.4M | $7.7M | $3.6M | — | View 990 |
| 2014 | $4.4M | $4.4M | $7.8M | $3.6M | — | View 990 |
| 2013 | $4.2M | $4.0M | $8.1M | $3.7M | — | View 990 |
| 2012 | $4.2M | $4.0M | $8.0M | $3.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $7.7M, expenses of $7.5M, and assets of $47.2M (revenue +10.9% year-over-year).
- 2022: Revenue of $7.0M, expenses of $6.6M, and assets of $46.5M (revenue +0.6% year-over-year).
- 2021: Revenue of $6.9M, expenses of $5.2M, and assets of $10.6M (revenue +43.5% year-over-year).
- 2020: Revenue of $4.8M, expenses of $5.2M, and assets of $8.1M (revenue +2.8% year-over-year).
- 2019: Revenue of $4.7M, expenses of $4.9M, and assets of $7.4M (revenue +2.8% year-over-year).
- 2018: Revenue of $4.6M, expenses of $4.6M, and assets of $7.6M (revenue +2.3% year-over-year).
- 2017: Revenue of $4.5M, expenses of $4.8M, and assets of $7.5M (revenue +0.4% year-over-year).
- 2016: Revenue of $4.5M, expenses of $4.8M, and assets of $8.1M (revenue +1.1% year-over-year).
- 2015: Revenue of $4.4M, expenses of $4.4M, and assets of $7.7M (revenue +1.1% year-over-year).
- 2014: Revenue of $4.4M, expenses of $4.4M, and assets of $7.8M (revenue +2.7% year-over-year).
- 2013: Revenue of $4.2M, expenses of $4.0M, and assets of $8.1M (revenue +1.5% year-over-year).
- 2012: Revenue of $4.2M, expenses of $4.0M, and assets of $8.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Oceanside Library:
Data Sources and Methodology
This transparency report for Oceanside Library 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.