Ocean Institute

Analysis

Ocean Institute is a registered charity in United States, based in Dana Point, CA. It received its IRS tax-exemption ruling in July 1997, 29 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Institute reported income of $4.2m and spending of $5.2m, spending 124% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $5.4m to $4.2m (-22%), an average of -6.0% a year. The sharpest change came in the year to December 2020, when income dropped by 24%. Over the whole period it spent 105% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Ocean Institute sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 91st percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Olive Branch Mission ($4.2m), Foundation for the Diocese of Helena Inc ($4.2m) and Revelation Media Inc ($4.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 45% of the total. Compensation of current officers, directors and key employees was $294k (5.7% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $14.1m against liabilities of $1.2m, net assets of $12.9m. It reported 107 employees.