Ocean Reef Chapel Foundation Inc

Analysis

Ocean Reef Chapel Foundation Inc is a registered charity in United States, based in Key Largo, FL. It received its IRS tax-exemption ruling in July 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 2024, Ocean Reef Chapel Foundation Inc reported income of $2.4m and spending of $937k, leaving 61% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $949k to $2.4m (+154%), an average of +20% a year. The sharpest change came in the year to June 2020, when income rose by 476%. Over the whole period it spent 82% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ocean Reef Chapel Foundation Inc sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 89th percentile within FL. Charities of a similar size with the same main cause include Arc of Iowa ($2.4m), The Diaper Bank of Connecticut Inc ($2.4m) and Chappelle Gardens Inc ($2.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 91% of the total. At year end it held assets of $7.8m against liabilities of $1,495, net assets of $7.8m.