Oceanview Manor Inc

Analysis

Oceanview Manor Inc is a registered charity in United States, based in Ocean Park, ME. It received its IRS tax-exemption ruling in November 1979, 47 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Oceanview Manor Inc reported income of $550k and spending of $493k, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $211k to $550k (+160%), an average of +27% a year. The sharpest change came in the year to December 2020, when income rose by 54%. Over the whole period it spent 103% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Oceanview Manor Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 68th percentile within ME. Charities of a similar size with the same main cause include WHFH Development Corporation ($550k), Family Promise of Grayson County Inc ($550k) and Phoenix Family Ventures Inc ($550k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.3% and program service revenue 93% of the total. Compensation of current officers, directors and key employees was $104k (21% of expenses). Other salaries and wages came to $295k. At year end it held assets of $2.4m against liabilities of $106k, net assets of $2.3m. It reported 11 employees.