Ocean Cure Inc

Analysis

Ocean Cure Inc is a registered charity in United States, based in Carolina BCH, NC. It received its IRS tax-exemption ruling in March 2009, 17 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 Cure Inc reported income of $129k and spending of $93k, leaving 28% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $109k to $129k (+19%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 19%. Over the whole period it spent 94% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Ocean Cure Inc sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 44th percentile, and in the 41st percentile within NC. Charities of a similar size with the same main cause include Baltimore Bays Soccer Club Inc ($129k), Steamboat Springs Figure Skating Club ($129k) and Zen & Kongfu Association Inc ($129k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 66% of the total. At year end it held assets of $94k against liabilities of $721, net assets of $94k.