Dharma Ocean Foundation

Analysis

Dharma Ocean Foundation is a registered charity in United States, based in Boulder, CO. It received its IRS tax-exemption ruling in February 2006, 20 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Dharma Ocean Foundation reported income of $663k and spending of $999k, spending 151% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $795k to $663k (-17%), an average of -4.5% a year. The sharpest change came in the year to December 2023, when income rose by 144%. Over the whole period it spent 213% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Dharma Ocean Foundation sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 72nd percentile within CO. Charities of a similar size with the same main cause include Concord Christian Center ($663k), Steven Brooks International ($663k) and Harvest Now Inc ($662k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 52% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $155k (15% of expenses). Other salaries and wages came to $297k. At year end it held assets of $3.4m against liabilities of $155k, net assets of $3.2m. It reported 27 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.