Oyster Bay Urban Renewal Inc

Analysis

Oyster Bay Urban Renewal Inc is a registered charity in United States, based in Keyport, NJ. It received its IRS tax-exemption ruling in August 2001, 25 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Oyster Bay Urban Renewal Inc reported income of $3.9m and spending of $3.4m, spending 88% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.1m to $3.9m (+28%), an average of +6.3% a year. The sharpest change came in the year to September 2020, when income rose by 18%. Over the whole period it spent 72% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Oyster Bay Urban Renewal Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 92nd percentile within NJ. Charities of a similar size with the same main cause include West Hennepin Affordable Housing Land TR ($3.9m), Housing in Action ($3.9m) and Coal County Extended Care Incorporated ($3.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 64% and program service revenue 35% of the total. Other salaries and wages came to $27k. At year end it held assets of $23.6m against liabilities of $15.6m, net assets of $8.1m. It reported 8 employees.