Surfing Madonna Oceans Project

Analysis

Surfing Madonna Oceans Project is a registered charity in United States, based in Encinitas, CA. It received its IRS tax-exemption ruling in July 2014, 12 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Surfing Madonna Oceans Project reported income of $102k and spending of $149k, spending 147% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income fell from $757k to $102k (-87%), an average of -49% a year. The sharpest change came in the year to December 2022, when income dropped by 69%. Over the whole period it spent 119% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Surfing Madonna Oceans Project sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 40th percentile within CA. Charities of a similar size with the same main cause include Chickahominy Indian Tribe Inc ($102k), Friends of the Holt Home Inc ($102k) and Huda Community Center ($102k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 80% and program service revenue 16% of the total. At year end it held assets of $219k against liabilities of $11k, net assets of $208k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.