Blue Ocean Faith

Analysis

Blue Ocean Faith is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in February 2018, 8 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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, Blue Ocean Faith reported income of $153k and spending of $184k, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $179k to $153k (-15%), an average of -3.9% a year. The sharpest change came in the year to December 2022, when income dropped by 36%. Over the whole period it spent 102% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Blue Ocean Faith sits at the 57th percentile: it is larger than about 57% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 50th percentile within CA. Charities of a similar size with the same main cause include Iglesia de Dios Pentecostal Jesus Es El Camino Concilio Latino Ameri ($153k), St Andrews Church Foundation Inc ($153k) and Jackie and Stacy Baker Worship ($153k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $125k (68% of expenses). Other salaries and wages came to $25k. At year end it held assets of $75k against liabilities of $0, net assets of $75k. It reported 2 employees.