Oceantic Network Inc

Analysis

Oceantic Network Inc is a registered charity in United States, based in Baltimore, MD. It received its IRS tax-exemption ruling in June 2015, 11 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. 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, Oceantic Network Inc reported income of $13.3m and spending of $11.2m, spending 84% of its income. Across the 6 years on record, from June 2019 to December 2023, income grew from $3.0m to $13.3m (+338%), an average of +34% a year. The sharpest change came in the year to December 2023, when income rose by 555%. Over the whole period it spent 84% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Oceantic Network Inc 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 96th percentile, and in the 95th percentile within MD. Charities of a similar size with the same main cause include Omaha Botanical Center Inc ($13.3m), Greater Yellowstone Coalition Inc ($13.4m) and Buzzards Bay Coalition Inc ($13.2m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 5.8% and program service revenue 94% of the total. Compensation of current officers, directors and key employees was $430k (3.8% of expenses). Other salaries and wages came to $3.5m. At year end it held assets of $10.2m against liabilities of $3.2m, net assets of $6.9m. It reported 61 employees.