World Ocean School
World Ocean School shows asset growth and no reported officer compensation, but experienced a deficit in 2023.
EIN: 20610358 · Boston, MA · NTEE: B28 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.8M |
| Total Expenses | $1.8M |
| Program Spending | 80% |
| Net Assets | $1.1M |
| Transparency Score | 85/100 |
Is World Ocean School Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
World Ocean School directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About World Ocean School
World Ocean School (EIN: 20610358) is a nonprofit organization based in Boston, MA, classified under NTEE code B28. The organization reported total revenue of $1.8M and total assets of $3.0M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of World Ocean School's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
World Ocean School is a mid-size nonprofit that has been operating for 24 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 9.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.7M |
| Total Expenses | $1.8M |
| Surplus / Deficit | $-81,966 |
| Total Assets | $3.0M |
| Total Liabilities | $1.9M |
| Net Assets | $1.1M |
| Operating Margin | -4.9% |
| Debt-to-Asset Ratio | 63.9% |
| Months of Reserves | 20.2 months |
Financial Health Grade: C
In 2023, World Ocean School reported a deficit of $82K with expenses exceeding revenue, holds 20.2 months of operating reserves (strong position), has a debt-to-asset ratio of 63.9% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), World Ocean School's revenue has grown at a compound annual growth rate (CAGR) of 9.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -33.3% | +6.3% | -3.7% |
| 2022 | +37.9% | +29.9% | +68.0% |
| 2021 | +102.6% | +11.1% | +0.4% |
| 2020 | -25.5% | -0.3% | +4.8% |
| 2019 | -21.6% | +3.3% | +7.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2100 |
| IRS Ruling Date | 2002 |
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 World Ocean School with a Mission Score of 85 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, World Ocean School allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. With 80% 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 deficit of $82K, with expenses exceeding revenue.
- Debt-to-asset ratio: 63.9%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is a strong positive for directing funds to the mission.
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 World Ocean School's IRS 990 filings:
- Expenses exceeded revenue in the most recent fiscal year (2023), leading to a deficit of $81,966.
Strengths
The following positive indicators were identified for World Ocean School:
- Consistent reporting of 0% officer compensation across all filings, indicating strong financial stewardship.
- Significant growth in assets from $1.3M in 2014 to nearly $3M currently.
- Assets consistently exceed liabilities in recent years, improving the organization's net financial position.
Frequently Asked Questions about World Ocean School
Is World Ocean School a legitimate charity?
World Ocean School (EIN: 20610358) is a registered tax-exempt nonprofit based in Massachusetts. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $1.8M. 1 red flag identified. 3 strengths noted. Financial health grade: C.
How does World Ocean School spend its money?
World Ocean School directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to World Ocean School tax-deductible?
World Ocean School is registered as a tax-exempt nonprofit (EIN: 20610358). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of World Ocean School's spending goes to programs?
World Ocean School directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does World Ocean School compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), World Ocean School is above average for NTEE category B28 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is World Ocean School located?
World Ocean School is headquartered in Boston, Massachusetts and files with the IRS under EIN 20610358. It is classified under NTEE code B28.
How many years of IRS 990 filings does World Ocean School have?
World Ocean School 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 $1.8M in total revenue.
Is World Ocean School financially stable?
While World Ocean School has shown asset growth and significant revenue in recent years, the 2023 fiscal period reported expenses ($1,765,101) exceeding revenue ($1,683,135), indicating a net deficit for that year. However, overall assets ($2,984,135) comfortably exceed liabilities ($1,901,045 in 2023), suggesting a reasonable level of financial stability despite year-to-year fluctuations.
How does World Ocean School manage executive compensation?
World Ocean School consistently reports 0% officer compensation across all 13 available IRS 990 filings. This indicates that no officers received salaries or other compensation from the organization, which is a highly positive sign for donor confidence and resource allocation to programmatic activities.
What is the trend in World Ocean School's assets and liabilities?
World Ocean School's assets have shown a strong upward trend, growing from $1,345,782 in 2014 to $2,984,135 currently. Liabilities, while substantial, have generally stabilized and are now consistently lower than assets, improving the organization's net asset position over time. For example, in 2023, assets were $2,976,717 compared to liabilities of $1,901,045.
Filing History
IRS 990 filing history for World Ocean School showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), World Ocean School's revenue has grown by 182.4%, moving from $596K to $1.7M. Total assets increased by 123.4% over the same period, from $1.3M to $3.0M. Total functional expenses rose by 180.8%, from $629K to $1.8M. In its most recent filing year (2023), World Ocean School reported a deficit of $82K, with expenses exceeding revenue. The organization holds $1.9M in liabilities against $3.0M in assets (debt-to-asset ratio: 63.9%), resulting in net assets of $1.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.7M | $1.8M | $3.0M | $1.9M | — | — |
| 2022 | $2.5M | $1.7M | $3.1M | $1.9M | — | View 990 |
| 2021 | $1.8M | $1.3M | $1.8M | $1.5M | — | View 990 |
| 2020 | $902K | $1.1M | $1.8M | $2.1M | — | — |
| 2019 | $1.2M | $1.2M | $1.7M | $1.8M | — | View 990 |
| 2018 | $1.5M | $1.1M | $1.6M | $1.7M | — | View 990 |
| 2017 | $1.0M | $1.1M | $1.3M | $1.8M | — | View 990 |
| 2016 | $1.1M | $997K | $1.3M | $1.8M | — | View 990 |
| 2015 | $974K | $1.0M | $1.3M | $1.9M | — | View 990 |
| 2014 | $878K | $873K | $1.3M | $1.9M | — | View 990 |
| 2013 | $701K | $767K | $1.4M | $1.9M | — | View 990 |
| 2012 | $657K | $680K | $1.3M | $1.8M | — | View 990 |
| 2011 | $596K | $629K | $1.3M | $1.8M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.7M, expenses of $1.8M, and assets of $3.0M (revenue -33.3% year-over-year).
- 2022: Revenue of $2.5M, expenses of $1.7M, and assets of $3.1M (revenue +37.9% year-over-year).
- 2021: Revenue of $1.8M, expenses of $1.3M, and assets of $1.8M (revenue +102.6% year-over-year).
- 2020: Revenue of $902K, expenses of $1.1M, and assets of $1.8M (revenue -25.5% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.2M, and assets of $1.7M (revenue -21.6% year-over-year).
- 2018: Revenue of $1.5M, expenses of $1.1M, and assets of $1.6M (revenue +47.5% year-over-year).
- 2017: Revenue of $1.0M, expenses of $1.1M, and assets of $1.3M (revenue -3.0% year-over-year).
- 2016: Revenue of $1.1M, expenses of $997K, and assets of $1.3M (revenue +10.9% year-over-year).
- 2015: Revenue of $974K, expenses of $1.0M, and assets of $1.3M (revenue +11.0% year-over-year).
- 2014: Revenue of $878K, expenses of $873K, and assets of $1.3M (revenue +25.2% year-over-year).
- 2013: Revenue of $701K, expenses of $767K, and assets of $1.4M (revenue +6.7% year-over-year).
- 2012: Revenue of $657K, expenses of $680K, and assets of $1.3M (revenue +10.2% year-over-year).
- 2011: Revenue of $596K, expenses of $629K, and assets of $1.3M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for World Ocean School:
Data Sources and Methodology
This transparency report for World Ocean School 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.