Ocean State Charity Events Inc

Analysis

Ocean State Charity Events Inc is a registered charity in United States, based in Coventry, RI. It received its IRS tax-exemption ruling in June 2019, 7 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Ocean State Charity Events Inc reported income of $246k and spending of $250k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $209k to $246k (+18%), an average of +4.2% a year. The sharpest change came in the year to December 2021, when income rose by 63%. Over the whole period it spent 103% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Ocean State Charity Events Inc sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 58th percentile, and in the 54th percentile within RI. Charities of a similar size with the same main cause include Flint Diaper Bank Inc ($246k), Iuoe Local 12 Charitable Golf Committee Inc ($246k) and Park City Board of Realtors Philanthropic Foundation ($246k).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 100% of the total. Compensation of current officers, directors and key employees was $2,600 (1.0% of expenses). At year end it held assets of $2,250 against liabilities of $30k, net assets of -$28k. It reported 1 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.