Drive on the Ocean

Analysis

Drive on the Ocean is a registered charity in United States, based in Downingtown, PA. It received its IRS tax-exemption ruling in August 2019, 7 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Drive on the Ocean reported income of $1.3m and spending of $1.0m, leaving 20% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income fell from $1.5m to $1.3m (-18%), an average of -6.6% a year. The sharpest change came in the year to December 2023, when income dropped by 20%. Over the whole period it spent 85% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Drive on the Ocean sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 80th percentile within PA. Charities of a similar size with the same main cause include Larraine Segil Scholars Foundation ($1.3m), Akimel O Otham Pee Posh Charter School Inc ($1.3m) and College Bound Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 45% and program service revenue 55% of the total. Other salaries and wages came to $698k. It paid $76k in professional fundraising fees. At year end it held assets of $1.2m against liabilities of $87k, net assets of $1.1m. It reported 9 employees.