Ocean Fest Inc

Analysis

Ocean Fest Inc is a registered charity in United States, based in Hampstead, NC. It received its IRS tax-exemption ruling in March 2022, 4 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 Fest Inc reported income of $196k and spending of $119k, leaving 39% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income grew from $145k to $196k (+35%), an average of +35% a year. The sharpest change came in the year to December 2023, when income rose by 35%. Over the whole period it spent 45% of the income it received.

Among 10,430 United States charities whose main cause is environment and conservation and that reported income, Ocean Fest Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 53rd percentile, and in the 51st percentile within NC. Charities of a similar size with the same main cause include Alabama Treasure Forest Association ($196k), South Dakota Agricultural Land Trust ($196k) and Fabmo Inc ($196k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% of the total. Compensation of current officers, directors and key employees was $23k (19% of expenses). At year end it held assets of $209k against liabilities of $0, net assets of $209k.