Ocean Housing Development III Inc

Analysis

Ocean Housing Development III Inc is a registered charity in United States, based in Bayville, NJ. It received its IRS tax-exemption ruling in August 2006, 20 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 III Inc reported income of $77k and spending of $82k, spending 106% of what it took in. Across the 5 years on record, from June 2020 to June 2024, income grew from $67k to $77k (+15%), an average of +3.6% a year. The sharpest change came in the year to June 2023, when income rose by 34%. Over the whole period it spent 102% 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 III Inc sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 37th percentile within NJ. Charities of a similar size with the same main cause include Maxcen Housing Society Inc California Branch ($77k), Plattsburgh Community Housing Inc ($77k) and Mount Hope Community Development Corporation ($76k).

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 $737k against liabilities of $776k, net assets of -$39k.