Ocean Reef Medical Center Foundation Inc

Analysis

Ocean Reef Medical Center Foundation Inc is a registered charity in United States, based in Key Largo, FL. It received its IRS tax-exemption ruling in February 1994, 32 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ocean Reef Medical Center Foundation Inc reported income of $5.7m and spending of $5.7m, spending 100% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $4.0m to $5.7m (+41%), an average of +12% a year. The sharpest change came in the year to June 2021, when income rose by 183%. Over the whole period it spent 62% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ocean Reef Medical Center Foundation Inc sits at the 93rd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 94th percentile within FL. Charities of a similar size with the same main cause include CSJ Initiatives Inc ($5.7m), Cny Works Inc ($5.7m) and Beat AIDS Coalition Trust ($5.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 84% of the total. Other salaries and wages came to $84k. At year end it held assets of $61.7m against liabilities of $2.2m, net assets of $59.5m. It reported 1 employees.