Ocean City Sailing Foundation

Analysis

Ocean City Sailing Foundation is a registered charity in United States, based in Ocean City, NJ. It received its IRS tax-exemption ruling in December 2007, 19 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 Sailing Foundation reported income of $56k and spending of $74k, spending 132% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $64k to $56k (-12%), an average of -12% a year. Over the whole period it spent 122% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Ocean City Sailing Foundation sits at the 24th percentile: it is larger than about 24% of them. Against every charity in United States with reported income it ranks in the 22nd percentile, and in the 29th percentile within NJ. Charities of a similar size with the same main cause include Ponies Backcourt Club Inc ($56k), Old Timers Baseball Association ($56k) and Dorchester Youth Soccer Club Inc ($56k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 28% and program service revenue 72% of the total. At year end it held assets of $95k against liabilities of $0, net assets of $95k.