Oceanic Research Group Inc

Analysis

Oceanic Research Group Inc is a registered charity in United States, based in North Reading, MA. It received its IRS tax-exemption ruling in November 1993, 33 years ago. Its declared purposes cover unknown, which this site groups under other charitable purposes. 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 April 2023, Oceanic Research Group Inc reported income of $170k and spending of $260k, spending 153% of what it took in. Across the 4 years on record, from April 2020 to April 2023, income fell from $375k to $170k (-55%), an average of -23% a year. The sharpest change came in the year to April 2022, when income rose by 236%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Oceanic Research Group Inc sits at the 49th percentile: it is larger than about 49% of them. Against every charity in United States with reported income it ranks in the 50th percentile, and in the 54th percentile within MA. Charities of a similar size with the same main cause include Childrens Brittle Bone Foundation ($170k), Friends of the Beverly Hills Public Library ($170k) and Northern Sierra Swimming Friends Inc ($170k).

On its Form 990 for the period ending April 2023, revenue came from contributions and grants 1.6% and program service revenue 82% of the total. Compensation of current officers, directors and key employees was $75k (29% of expenses). Other salaries and wages came to $21k. At year end it held assets of $717k against liabilities of $117k, net assets of $599k. It reported 2 employees.