Oshean Inc

Analysis

Oshean Inc is a registered charity in United States, based in Warwick, RI. It received its IRS tax-exemption ruling in August 2000, 26 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 June 2023, Oshean Inc reported income of $9.9m and spending of $10.5m, spending 105% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $7.6m to $9.9m (+31%), an average of +7.0% a year. Over the whole period it spent 115% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Oshean Inc sits at the 95th percentile: it is larger than about 95% 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 Yad Yisroel Inc ($9.9m), Mill Springs Academy Inc ($9.9m) and Cornerstone Schools of Alabama Inc ($9.9m).

On its Form 990 for the period ending June 2023, revenue came from program service revenue 99% of the total. Compensation of current officers, directors and key employees was $343k (3.3% of expenses). Other salaries and wages came to $2.1m. At year end it held assets of $29.6m against liabilities of $5.9m, net assets of $23.7m. It reported 25 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.