Ocean Agency

Analysis

Ocean Agency is a registered charity in United States, based in Newport, RI. It received its IRS tax-exemption ruling in April 2020, 6 years ago. Its declared purposes cover environment, which this site groups under environment and conservation. 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 Agency reported income of $174k and spending of $255k, spending 146% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income fell from $555k to $174k (-69%), an average of -32% a year. The sharpest change came in the year to December 2023, when income dropped by 41%. Over the whole period it spent 96% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Ocean Agency sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 51st percentile, and in the 47th percentile within RI. Charities of a similar size with the same main cause include Friends of Hilltop Arboretum Inc ($174k), The Environmental Fund for Georgia ($174k) and Green Belt Conservancy Inc ($174k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 98% and program service revenue 1.4% of the total. At year end it held assets of $63k against liabilities of $7,795, net assets of $55k.

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.