Ocean Wise Conservation Association

Analysis

Ocean Wise Conservation Association is a registered charity in United States, based in Canada. It received its IRS tax-exemption ruling in April 1982, 44 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3).

In the financial year ending December 2023, Ocean Wise Conservation Association reported income of $12.3m and spending of $14.7m, spending 120% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $34.4m to $12.3m (-64%), an average of -23% a year. The sharpest change came in the year to December 2020, when income dropped by 50%. Over the whole period it spent 119% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Ocean Wise Conservation Association sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 96th percentile. Charities of a similar size with the same main cause include Americas Vetdogs the Veterans K9 Corps Inc ($12.3m), M I K I D Mentally Ill Kids in Distress ($12.3m) and Phoenix Residence Inc ($12.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 81% and program service revenue 6.3% of the total. Compensation of current officers, directors and key employees was $1.1m (7.8% of expenses). Other salaries and wages came to $5.7m. At year end it held assets of $36.8m against liabilities of $4.7m, net assets of $32.1m.

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.