Ocean City Yacht Club Foundation Inc

Analysis

Ocean City Yacht Club Foundation Inc is a registered charity in United States, based in Ocean City, NJ. It received its IRS tax-exemption ruling in July 2020, 6 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Ocean City Yacht Club Foundation Inc reported income of $58k and spending of $37k, leaving 35% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $74k to $58k (-22%), an average of -22% a year. The sharpest change came in the year to December 2023, when income dropped by 22%. Over the whole period it spent 62% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Ocean City Yacht Club Foundation Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 30th percentile within NJ. Charities of a similar size with the same main cause include Smithville Diamonds ($58k), Fremont Highlanders Ski Club ($58k) and National Bird Hunters Association Inc ($57k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. At year end it held assets of $91k against liabilities of $900, net assets of $91k.