Ocean Community Economic Action Now Inc

Analysis

Ocean Community Economic Action Now Inc is a registered charity in United States, based in Toms River, NJ. It received its IRS tax-exemption ruling in February 1967, 59 years ago. The IRS classifies it as a governmental unit under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ocean Community Economic Action Now Inc reported income of $15.8m and spending of $14.0m, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $13.1m to $15.8m (+20%), an average of +4.7% a year. The sharpest change came in the year to December 2021, when income rose by 44%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ocean Community Economic Action Now Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include A G Rhodes Home Inc ($15.8m), Community Action Development Corporation ($15.8m) and MRM Property and Liability TR Inc ($15.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 89% and program service revenue 8.3% of the total. Other salaries and wages came to $4.7m. At year end it held assets of $23.4m against liabilities of $11.4m, net assets of $12.0m. It reported 148 employees.