Ocean Community Chamber Foundation

Analysis

Ocean Community Chamber Foundation is a registered charity in United States, based in Westerly, RI. It received its IRS tax-exemption ruling in March 1998, 28 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Ocean Community Chamber Foundation reported income of $99k and spending of $99k, spending 100% of its income. Across the 2 years on record, from June 2022 to June 2023, income fell from $105k to $99k (-5.3%), an average of -5.3% a year. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ocean Community Chamber Foundation sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 32nd percentile within RI. Charities of a similar size with the same main cause include Parent Booster USA Inc ($99k), Donegal School District Education Foundation ($99k) and Noble Public Schools Foundation for Academic Excellence Inc ($99k).

On its Form 990-EZ for the period ending June 2023, revenue came from contributions and grants 43% and program service revenue 29% of the total. At year end it held assets of $161k against liabilities of $46k, net assets of $114k.