Oceanites Inc

Analysis

Oceanites Inc is a registered charity in United States, based in Chevy Chase, MD. It received its IRS tax-exemption ruling in October 1987, 39 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, Oceanites Inc reported income of $177k and spending of $247k, spending 140% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $270k to $177k (-35%), an average of -10% a year. The sharpest change came in the year to December 2021, when income rose by 54%. Over the whole period it spent 101% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Oceanites Inc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 51st percentile within MD. Charities of a similar size with the same main cause include Towngreen Inc ($177k), Garden Club Federation of Pennsylvania ($177k) and Idaho Association of Soil Conservation Districts Inc ($177k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $37k (15% of expenses). At year end it held assets of $24k against liabilities of $5,464, net assets of $19k. It reported 1 employees.