Ocean City Arts Center a New Jersey Nonprofit Corporation

Analysis

Ocean City Arts Center a New Jersey Nonprofit Corporation is a registered charity in United States, based in Ocean City, NJ. It received its IRS tax-exemption ruling in January 1969, 57 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Ocean City Arts Center a New Jersey Nonprofit Corporation reported income of $516k and spending of $460k, spending 89% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $393k to $516k (+31%), an average of +7.0% a year. The sharpest change came in the year to December 2021, when income rose by 139%. Over the whole period it spent 84% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ocean City Arts Center a New Jersey Nonprofit Corporation sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 75th percentile within NJ. Charities of a similar size with the same main cause include Cecchetti Council of America ($516k), Hyde Hall Inc ($516k) and Investigative Post Inc ($516k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 26% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $44k (9.5% of expenses). Other salaries and wages came to $278k. At year end it held assets of $583k against liabilities of $2,602, net assets of $581k. It reported 41 employees.