Ocean Housing Development I Incorporated

Analysis

Ocean Housing Development I Incorporated is a registered charity in United States, based in Bayville, NJ. It received its IRS tax-exemption ruling in May 2005, 21 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 (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 2024, Ocean Housing Development I Incorporated reported income of $64k and spending of $78k, spending 121% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income fell from $71k to $64k (-9.6%), an average of -2.5% a year. Over the whole period it spent 104% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Ocean Housing Development I Incorporated sits at the 14th percentile: it is larger than about 14% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 32nd percentile within NJ. Charities of a similar size with the same main cause include West Piedmont Better Housing Coalition Inc ($64k), Groomes Family Home ($64k) and Aunt Shugs Assisted Living Inc ($64k).

On its Form 990 for the period ending June 2024, revenue came from program service revenue 100% of the total. Other salaries and wages came to $33k. At year end it held assets of $524k against liabilities of $573k, net assets of -$49k.

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.