Ocean Professional Theatre Company Inc

Analysis

Ocean Professional Theatre Company Inc is a registered charity in United States, based in Beach Haven, NJ. It received its IRS tax-exemption ruling in June 2012, 14 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, Ocean Professional Theatre Company Inc reported income of $2.6m and spending of $2.6m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $2.1m to $2.6m (+24%), an average of +5.5% a year. The sharpest change came in the year to December 2021, when income rose by 157%. Over the whole period it spent 93% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ocean Professional Theatre Company Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 90th percentile within NJ. Charities of a similar size with the same main cause include New York Council for the Humanities ($2.6m), Concerned African Women Inc ($2.7m) and Porchlight Music Theatre Chicago ($2.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 66% of the total. Compensation of current officers, directors and key employees was $224k (8.7% of expenses). Other salaries and wages came to $789k. At year end it held assets of $1.3m against liabilities of $421k, net assets of $929k. It reported 146 employees.