Ocean Visions Inc

Analysis

Ocean Visions Inc is a registered charity in United States, based in Leesburg, VA. It received its IRS tax-exemption ruling in January 2021, 5 years ago. Its declared purposes cover science and technology, 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 December 2023, Ocean Visions Inc reported income of $3.6m and spending of $2.5m, leaving 31% of income unspent that year. Across the 5 years on record, from June 2020 to December 2023, income grew from $211k to $3.6m (+1595%), an average of +103% a year. The sharpest change came in the year to June 2021, when income rose by 354%. Over the whole period it spent 50% 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 Visions Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within VA. Charities of a similar size with the same main cause include Decorative Arts Trust ($3.6m), Hua Xia Chinese School Inc ($3.6m) and Duluth Playhouse Inc ($3.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% of the total. Compensation of current officers, directors and key employees was $338k (14% of expenses). Other salaries and wages came to $952k. At year end it held assets of $5.2m against liabilities of $163k, net assets of $5.0m. It reported 11 employees.