Ocean Park Association

Analysis

Ocean Park Association is a registered charity in United States, based in Ocean Park, ME. It received its IRS tax-exemption ruling in September 1945, 81 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ocean Park Association reported income of $771k and spending of $636k, spending 82% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $638k to $771k (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2021, when income rose by 41%. Over the whole period it spent 90% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ocean Park Association sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 72nd percentile within ME. Charities of a similar size with the same main cause include New Brunswick City Market Inc ($771k), Kitsap Applied Technologies ($772k) and Harbor House Ministries Inc ($771k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 49% and program service revenue 13% of the total. Compensation of current officers, directors and key employees was $73k (11% of expenses). Other salaries and wages came to $242k. At year end it held assets of $3.6m against liabilities of $50k, net assets of $3.5m. It reported 28 employees.