Ocean Point Colony Trust Inc

Analysis

Ocean Point Colony Trust Inc is a registered charity in United States, based in East Boothbay, ME. It received its IRS tax-exemption ruling in December 1972, 54 years ago. 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 Point Colony Trust Inc reported income of $110k and spending of $102k, spending 93% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $701k to $110k (-84%), an average of -37% a year. The sharpest change came in the year to December 2021, when income dropped by 67%. Over the whole period it spent 28% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ocean Point Colony Trust Inc sits at the 39th percentile: it is larger than about 39% of them. Against every charity in United States with reported income it ranks in the 39th percentile, and in the 33rd percentile within ME. Charities of a similar size with the same main cause include Sheltersuit USA Foundation ($110k), Fulton County United Way Inc ($110k) and Community Foundation of Balboa Peninsula Point ($110k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 12% of the total. Other salaries and wages came to $11k. At year end it held assets of $1.5m against liabilities of $3,000, net assets of $1.5m. It reported 3 employees.