Ocracoke Foundation Inc

Analysis

Ocracoke Foundation Inc is a registered charity in United States, based in Ocracoke, NC. It received its IRS tax-exemption ruling in October 2007, 19 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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, Ocracoke Foundation Inc reported income of $237k and spending of $251k, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.1m to $237k (-78%), an average of -31% a year. The sharpest change came in the year to December 2021, when income dropped by 61%. Over the whole period it spent 55% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Ocracoke Foundation Inc sits at the 54th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 55th percentile within NC. Charities of a similar size with the same main cause include Maxwell-Gunter Spouses Club Charitable Association ($237k), Pottsville Area Development Corp ($237k) and Positive Impact USA ($236k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 29% and program service revenue 70% of the total. At year end it held assets of $2.6m against liabilities of $337k, net assets of $2.3m.