Ocean Reef Cultural Center Inc

Analysis

Ocean Reef Cultural Center Inc is a registered charity in United States, based in Key Largo, FL. It received its IRS tax-exemption ruling in July 1998, 28 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 2023, Ocean Reef Cultural Center Inc reported income of $4.7m and spending of $4.5m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.0m to $4.7m (-6.9%), an average of -1.8% a year. The sharpest change came in the year to June 2022, when income rose by 213%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ocean Reef Cultural Center Inc sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 93rd percentile within FL. Charities of a similar size with the same main cause include Toledo Science Center ($4.7m), Madison Childrens Museum Foundation Inc ($4.7m) and Neighborhood Music School Inc ($4.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 56% and program service revenue 28% of the total. Other salaries and wages came to $529k. At year end it held assets of $38.1m against liabilities of $89k, net assets of $38.0m. It reported 9 employees.