Ocean Community YMCA

Analysis

Ocean Community YMCA is a registered charity in United States, based in Westerly, RI. It received its IRS tax-exemption ruling in June 1942, 84 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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 Community YMCA reported income of $10.5m and spending of $9.5m, spending 90% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $8.6m to $10.5m (+22%), an average of +5.2% a year. The sharpest change came in the year to December 2023, when income rose by 29%. Over the whole period it spent 98% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ocean Community YMCA sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within RI. Charities of a similar size with the same main cause include Ohio Valley Residential Services Inc ($10.5m), Community Health Provider Alliance ($10.5m) and Allies for Every Child Inc ($10.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 18% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $433k (4.6% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $24.0m against liabilities of $8.2m, net assets of $15.8m. It reported 503 employees.