Ocean Reef Art League Inc

Analysis

Ocean Reef Art League Inc is a registered charity in United States, based in Key Largo, FL. It received its IRS tax-exemption ruling in October 1986, 40 years ago. 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 June 2024, Ocean Reef Art League Inc reported income of $1.6m and spending of $975k, leaving 39% of income unspent that year. Across the 5 years on record, from June 2020 to June 2024, income grew from $700k to $1.6m (+129%), an average of +23% a year. The sharpest change came in the year to June 2023, when income rose by 40%. Over the whole period it spent 64% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ocean Reef Art League Inc sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 86th percentile within FL. Charities of a similar size with the same main cause include Saint Johns Jesuit High School Foundation ($1.6m), Border Network for Human Rights ($1.6m) and Columbus Youth Foundation ($1.6m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 48% and program service revenue 16% of the total. Compensation of current officers, directors and key employees was $124k (13% of expenses). Other salaries and wages came to $133k. At year end it held assets of $11.3m against liabilities of $9,313, net assets of $11.3m. It reported 3 employees.