Ocean Academy Charter School

Analysis

Ocean Academy Charter School is a registered charity in United States, based in Lakewood, NJ. It received its IRS tax-exemption ruling in July 2017, 9 years ago. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Ocean Academy Charter School reported income of $11.4m and spending of $10.1m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $3.5m to $11.4m (+221%), an average of +34% a year. The sharpest change came in the year to June 2020, when income rose by 49%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ocean Academy Charter School 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 95th percentile, and in the 97th percentile within NJ. Charities of a similar size with the same main cause include Big West Conference ($11.4m), Carl Fenichel Community Services Inc ($11.4m) and National Resident Matching Program ($11.4m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% and program service revenue 0.4% of the total. Other salaries and wages came to $4.8m. At year end it held assets of $22.8m against liabilities of $18.9m, net assets of $4.0m. It reported 106 employees.