Ocean Tides Inc

Analysis

Ocean Tides Inc is a registered charity in United States, based in Narragansett, RI. It received its IRS tax-exemption ruling in December 2019, 7 years ago. Its declared purposes cover human services, which this site groups under poverty relief. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Ocean Tides Inc reported income of $5.6m and spending of $6.2m, spending 112% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $5.2m to $5.6m (+7.3%), an average of +1.4% a year. The sharpest change came in the year to June 2023, when income rose by 26%. Over the whole period it spent 104% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Ocean Tides Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 90th percentile within RI. Charities of a similar size with the same main cause include Wright County Community Action Inc ($5.6m), Society St Vincent de Paul Alameda ($5.6m) and Humanistic Foundation Incorporated ($5.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 7.7% and program service revenue 91% of the total. Compensation of current officers, directors and key employees was $272k (4.3% of expenses). Other salaries and wages came to $3.4m. At year end it held assets of $5.2m against liabilities of $964k, net assets of $4.3m. It reported 103 employees.