Omega by the Sea Foundation

Analysis

Omega by the Sea Foundation is a registered charity in United States, based in Atlantic City, NJ. It received its IRS tax-exemption ruling in January 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 June 2023, Omega by the Sea Foundation reported income of $68k and spending of $35k, leaving 49% of income unspent that year. Over the whole period it spent 51% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Omega by the Sea Foundation sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 27th percentile, and in the 34th percentile within NJ. Charities of a similar size with the same main cause include Project Sanford ($68k), Master Gardener Association of Cape Cod Inc ($68k) and Japanese American Citizens League ($68k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $33k against liabilities of $0, net assets of $33k.