Ocean Alliance Inc

Analysis

Ocean Alliance Inc is a registered charity in United States, based in Gloucester, MA. It received its IRS tax-exemption ruling in November 1987, 39 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. 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, Ocean Alliance Inc reported income of $1.6m and spending of $874k, leaving 46% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $815k to $1.6m (+97%), an average of +18% a year. The sharpest change came in the year to June 2023, when income rose by 37%. Over the whole period it spent 71% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Ocean Alliance Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Keep Texas Beautiful Inc ($1.6m), Friends of the Teton River Inc ($1.6m) and Palmetto Conservation Foundation ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% and program service revenue 5.1% of the total. Compensation of current officers, directors and key employees was $206k (24% of expenses). Other salaries and wages came to $146k. At year end it held assets of $6.0m against liabilities of $229k, net assets of $5.8m. It reported 5 employees.