Southern Ocean County Chamber Of Commerce Inc
Southern Ocean County Chamber Of Commerce Inc faces recurring operating deficits despite maintaining a strong asset base.
EIN: 210501991 · Manahawkin, NJ · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.5M |
| Total Expenses | $574K |
| Program Spending | 70% |
| Net Assets | $507K |
| Transparency Score | 75/100 |
Is Southern Ocean County Chamber Of Commerce Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Southern Ocean County Chamber Of Commerce Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Southern Ocean County Chamber Of Commerce Inc
Southern Ocean County Chamber Of Commerce Inc (EIN: 210501991) is a nonprofit organization based in Manahawkin, NJ. The organization reported total revenue of $1.5M and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Southern Ocean County Chamber Of Commerce Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Southern Ocean County Chamber Of Commerce Inc is a mid-size nonprofit that has been operating for 32 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.4%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $336K |
| Total Expenses | $574K |
| Surplus / Deficit | $-237,825 |
| Total Assets | $561K |
| Total Liabilities | $54K |
| Net Assets | $507K |
| Operating Margin | -70.8% |
| Debt-to-Asset Ratio | 9.7% |
| Months of Reserves | 11.7 months |
Financial Health Grade: B
In 2023, Southern Ocean County Chamber Of Commerce Inc reported a deficit of $238K with expenses exceeding revenue, holds 11.7 months of operating reserves (strong position), has a debt-to-asset ratio of 9.7% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Southern Ocean County Chamber Of Commerce Inc's revenue has declined at a compound annual growth rate (CAGR) of -3.4%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -34.7% | -6.8% | -38.0% |
| 2022 | -6.8% | +20.1% | -2.3% |
| 2021 | +94.3% | +19.0% | +6.9% |
| 2020 | -46.3% | -14.3% | -16.8% |
| 2019 | -6.0% | +20.4% | +5.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 1994 |
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 Southern Ocean County Chamber Of Commerce 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Southern Ocean County Chamber Of Commerce Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $238K, with expenses exceeding revenue.
- Debt-to-asset ratio: 9.7%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that officers are either unpaid or compensated through non-officer categories, which is a positive indicator for financial efficiency and donor trust.
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 Southern Ocean County Chamber Of Commerce Inc's IRS 990 filings:
- Recurring operating deficits (e.g., $237,825 deficit in 202312, $101,770 deficit in 202212)
- Significant year-over-year revenue volatility (e.g., $513,729 in 202212 down to $335,676 in 202312)
Strengths
The following positive indicators were identified for Southern Ocean County Chamber Of Commerce Inc:
- Consistent 0% reported officer compensation, indicating strong financial transparency regarding executive pay.
- Maintains a substantial asset base relative to liabilities, suggesting good solvency (e.g., $561,044 assets vs. $54,378 liabilities in 202312).
- Long history of IRS 990 filings (13 filings), demonstrating consistent financial disclosure.
Frequently Asked Questions about Southern Ocean County Chamber Of Commerce Inc
Is Southern Ocean County Chamber Of Commerce Inc a legitimate charity?
Southern Ocean County Chamber Of Commerce Inc (EIN: 210501991) is a registered tax-exempt nonprofit based in New Jersey. Our AI analysis gives it a Mission Score of 75/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.5M. 2 red flags identified. 3 strengths noted. Financial health grade: B.
How does Southern Ocean County Chamber Of Commerce Inc spend its money?
Southern Ocean County Chamber Of Commerce Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Southern Ocean County Chamber Of Commerce Inc tax-deductible?
Southern Ocean County Chamber Of Commerce Inc is registered as a tax-exempt nonprofit (EIN: 210501991). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Southern Ocean County Chamber Of Commerce Inc's spending goes to programs?
Southern Ocean County Chamber Of Commerce Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Southern Ocean County Chamber Of Commerce Inc located?
Southern Ocean County Chamber Of Commerce Inc is headquartered in Manahawkin, New Jersey and files with the IRS under EIN 210501991.
How many years of IRS 990 filings does Southern Ocean County Chamber Of Commerce Inc have?
Southern Ocean County Chamber Of Commerce Inc 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 $1.5M in total revenue.
Is Southern Ocean County Chamber Of Commerce Inc financially stable given its recurring deficits?
While the organization has experienced several years where expenses exceeded revenue (e.g., $573,501 expenses vs. $335,676 revenue in 202312), it maintains a strong asset base ($561,044 in 202312) and relatively low liabilities, suggesting a degree of resilience despite operational challenges.
How does the organization fund its operations if officer compensation is 0%?
The 0% officer compensation indicates that top leadership is not paid through traditional officer compensation channels. Funding for operations would come from reported revenues (e.g., $335,676 in 202312) which cover other expenses like salaries for non-officer staff, program costs, and administrative overhead.
What caused the significant revenue drop from $513,729 in 202212 to $335,676 in 202312?
The provided data does not specify the reasons for the year-over-year revenue fluctuations. This would require a deeper analysis of the organization's specific revenue streams and external economic factors during those periods.
Filing History
IRS 990 filing history for Southern Ocean County Chamber Of Commerce Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Southern Ocean County Chamber Of Commerce Inc's revenue has declined by 33.7%, moving from $506K to $336K. Total assets decreased by 40.4% over the same period, from $942K to $561K. Total functional expenses rose by 0%, from $573K to $574K. In its most recent filing year (2023), Southern Ocean County Chamber Of Commerce Inc reported a deficit of $238K, with expenses exceeding revenue. The organization holds $54K in liabilities against $561K in assets (debt-to-asset ratio: 9.7%), resulting in net assets of $507K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $336K | $574K | $561K | $54K | — | — |
| 2022 | $514K | $615K | $905K | $128K | — | View 990 |
| 2021 | $551K | $513K | $927K | $48K | — | View 990 |
| 2020 | $284K | $431K | $867K | $27K | — | — |
| 2019 | $529K | $502K | $1.0M | $60K | — | View 990 |
| 2018 | $563K | $417K | $989K | $33K | — | View 990 |
| 2017 | $595K | $455K | $870K | $58K | — | View 990 |
| 2016 | $499K | $396K | $707K | $36K | — | View 990 |
| 2015 | $103K | $414K | $596K | $28K | — | View 990 |
| 2014 | $482K | $459K | $906K | $27K | — | View 990 |
| 2013 | $449K | $454K | $878K | $23K | — | View 990 |
| 2012 | $501K | $557K | $891K | $37K | — | View 990 |
| 2011 | $506K | $573K | $942K | $31K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $336K, expenses of $574K, and assets of $561K (revenue -34.7% year-over-year).
- 2022: Revenue of $514K, expenses of $615K, and assets of $905K (revenue -6.8% year-over-year).
- 2021: Revenue of $551K, expenses of $513K, and assets of $927K (revenue +94.3% year-over-year).
- 2020: Revenue of $284K, expenses of $431K, and assets of $867K (revenue -46.3% year-over-year).
- 2019: Revenue of $529K, expenses of $502K, and assets of $1.0M (revenue -6.0% year-over-year).
- 2018: Revenue of $563K, expenses of $417K, and assets of $989K (revenue -5.4% year-over-year).
- 2017: Revenue of $595K, expenses of $455K, and assets of $870K (revenue +19.2% year-over-year).
- 2016: Revenue of $499K, expenses of $396K, and assets of $707K (revenue +382.5% year-over-year).
- 2015: Revenue of $103K, expenses of $414K, and assets of $596K (revenue -78.6% year-over-year).
- 2014: Revenue of $482K, expenses of $459K, and assets of $906K (revenue +7.4% year-over-year).
- 2013: Revenue of $449K, expenses of $454K, and assets of $878K (revenue -10.3% year-over-year).
- 2012: Revenue of $501K, expenses of $557K, and assets of $891K (revenue -1.1% year-over-year).
- 2011: Revenue of $506K, expenses of $573K, and assets of $942K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Southern Ocean County Chamber Of Commerce Inc:
Data Sources and Methodology
This transparency report for Southern Ocean County Chamber Of Commerce 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.