Oshean INC FY2021 filing

Tax-deductible

Warwick, RI501(c)(3)Since 1999Public & Societal BenefitEIN 05-0509325

Oshean, INC. Is a non-profit coalition of universities, hospitals, libraries, k-12 schools, government agencies and other nonprofit organizations dedicated to providing innovative internet-based technology solutions for its member institutions and the communities they serve. The organization is an active member of the rhode island technology community, regularly contributes expertise and resources to a wide range of initiatives from school enrichment activities to community forums on technology-related issues in the public interest. Oshean, INC. Regularly pursues opportunities for local, regional and national collaboration and plays a national leadership role in professional education for its professionals and policy development in the information technology arena.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
$858K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 6
filings with a surplus
Average deficit $1.0M a year · 11% of revenue · last 6 filings
Concern: a surplus in 0 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$858K
to officers and key staff · 9% of spending
Looks good: pay to officers and key staff is 9% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $56K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$6.3M
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$9.3M
+14% vs prior year
Spent
$9.9M
To programs
90%
Net assets
$26.1M
By yearFY2020–FY2025
Revenue
$9.3M
FY2021▲ +14%
Revenue by fiscal year
FY2020$8.2M
FY2021$9.3M
FY2022$8.7M
FY2023$9.9M
FY2024$10.5M
FY2025$9.7M
Expenses
$9.9M
FY2021▲ +0.9%
Expenses by fiscal year
FY2020$9.8M
FY2021$9.9M
FY2022$10.4M
FY2023$10.5M
FY2024$11.2M
FY2025$10.9M
Net assets
$26.1M
FY2021▼ -3%
Net assets by fiscal year
FY2020$26.8M
FY2021$26.1M
FY2022$24.2M
FY2023$23.7M
FY2024$23.1M
FY2025$22.0M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Aug 2000.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $8.9M Management & general 10% · $999K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

Who runs it and what they're paid

16 people listed on the 990; $858K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President/CEO
$237,926Pt VII · Sec A
$179,211Pt VII · Sec A
Chief Tech. Officer
$160,365Pt VII · Sec A
Director - Bus. Dev.
$152,277Pt VII · Sec A
Senior Network Architect
$127,788Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

David Marble’s $278K as President/CEO is at the 87th percentile of top reported officer pay among 731 $1–10M public & societal benefit nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
David Marble$277,608—————
David C Marble—$258,546$249,812$254,291$237,926$229,171
Claude J Tolbert——$184,887$197,766$179,211$139,147
Timothy Rue$185,278—————
Mark Montalto$177,736$166,125$160,654$161,344$152,277$145,418
Timothy a Rue—$173,982$169,062$164,815$160,365$153,752
Jonathan Domen$156,294$147,066$143,660$132,516$127,788$123,326
Ronald Verdi$148,730$139,814$131,088———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides innovative internet technology solutions and expertise to educational, healthcare, and government institutions.

Provided by the organization

This section is blank until Oshean INC claims this page.

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1 program service account for $8.9M of program spending, described in the organization's own filed words · FY2020.
01

Oshean, inc. Has continued to satisfy the technology needs of 17 higher education institutions, 7 healthcare organizations, 24 state and local government agencies, 74 k-12 schools and libraries and 7 non-profit organizations.

$8.9Mprogram expense

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$56K

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$9.3M
Ln 12
Fees for servicesLn 2g$9.2M
Investment incomeLn 3$83K
Gifts and grantsLn 1h$35K
Money outPt IX
$9.9M
Ln 25
Programscol B$8.9M
Managementcol C$999K
Owns and owesPt X
$26.1M
net assets · Ln 32
Cash and savingsLn 1–2$3.6M
Total assetsLn 16$32.4M
LiabilitiesLn 26$6.3M
PeoplePt VI, VII
16
listed · VII A
PaidVII A5
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$35K
Noncash giftsLn 1g$10K
Fees for servicesLn 2g$9.2M
Investment incomeLn 3$83K
Gains on assetsLn 7$7K
Total revenueLn 12$9.3M
Assets in detailPt X, end of year
CashLn 1$927K
SavingsLn 2$2.6M
Cash and savings togetherLn 1–2$3.6M
InvestmentsLn 11–13$1.1M
Land, buildings, equipmentLn 10c$25.2M
Other assetsLn 15$4K
Total assetsLn 16$32.4M
LiabilitiesLn 26$6.3M
Net assetsLn 32$26.1M
OperationsPt I, VI
EmployeesI 530
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$4.3M$3.6M
InvestmentsLn 11–13$955K$1.1M
Land, buildings, equipmentLn 10c$25.7M$25.2M
Total assetsLn 16$33.0M$32.4M
LiabilitiesLn 26$6.2M$6.3M
Net assetsLn 32$26.8M$26.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$544K$338K$206K
Other salaries and wagesLn 7$2.1M$1.7M$418K
Pension plan contributionsLn 8$249K$210K$39K
Other employee benefitsLn 9$376K$290K$86K
Payroll taxesLn 10$190K$146K$44K
Legal feesLn 11b$7K$7K
Accounting feesLn 11c$31K$31K
Investment management feesLn 11f$14K$14K
Other fees for servicesLn 11g$78K$78K
Advertising and promotionLn 12$86K$72K$14K
Office expensesLn 13$21K$16K$5K
Information technologyLn 14$25K$25K
OccupancyLn 16$166K$128K$38K
TravelLn 17$13K$13K
Conferences, conventions and meetingsLn 19$6K$3K$3K
InterestLn 20$87K$19K$68K
Depreciation, depletion and amortizationLn 22$2.5M$2.5M
InsuranceLn 23$70K$54K$16K
Other expenses (24a–d)Ln 24$3.2M$3.2M
All other expensesLn 24e$44K$26K$18K
Total functional expensesLn 25$9.9M$8.9M$999K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $9.7M$10.9M−$1.2M$22.0M 990 PDF
FY2024 $10.5M$11.2M−$642K$23.1M 990 PDF
FY2023 $9.9M$10.5M−$527K$23.7M 990 PDF
FY2022 $8.7M$10.4M−$1.7M$24.2M 990 PDF
FY2021 Viewing $9.3M$9.9M−$571K$26.1M 990 PDF
FY2020 $8.2M$9.8M−$1.6M$26.8M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $9,308,754 across 7 lines filed
VIII-1f All other contributions, gifts and grants$35,296
VIII-1g Noncash contributions (included above)$10,296
VIII-1h Total contributions, gifts and grants$35,296
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $9,190,138$9,190,138
VIII-3 Investment incomeExcluded from tax $76,721$76,721
VIII-7 Net gain or loss on sales of assetsExcluded from tax $6,599$6,599
VIII-12 Total revenueRelated to mission $9,190,138 · Unrelated business $0 · Excluded from tax $83,320$9,308,754
Part IX · Statement of functional expenses $9,880,170 across 20 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $338,047 · Management $206,069$544,116
IX-7 Other salaries and wagesPrograms $1,669,309 · Management $418,182$2,087,491
IX-8 Pension plan contributionsPrograms $210,167 · Management $39,139$249,306
IX-9 Other employee benefitsPrograms $290,119 · Management $85,646$375,765
IX-10 Payroll taxesPrograms $146,491 · Management $43,757$190,248
IX-11b Legal feesPrograms $6,667$6,667
IX-11c Accounting feesManagement $31,129$31,129
IX-11f Investment management feesManagement $13,593$13,593
IX-11g Other fees for servicesPrograms $78,238$78,238
IX-12 Advertising and promotionPrograms $72,303 · Management $13,772$86,075
IX-13 Office expensesPrograms $16,386 · Management $4,894$21,280
IX-14 Information technologyPrograms $25,213$25,213
IX-16 OccupancyPrograms $128,135 · Management $38,274$166,409
IX-17 TravelPrograms $12,763$12,763
IX-19 Conferences, conventions and meetingsPrograms $3,045 · Management $2,811$5,856
IX-20 InterestPrograms $19,053 · Management $67,550$86,603
IX-22 Depreciation, depletion and amortizationPrograms $2,542,667$2,542,667
IX-23 InsurancePrograms $53,537 · Management $15,991$69,528
IX-24 Other expenses (24a–d)Programs $3,243,250$3,243,250
IX-24e All other expensesPrograms $25,569 · Management $18,404$43,973
IX-25 Total functional expensesPrograms $8,880,959 · Management $999,211 · Fundraising $0$9,880,170
Part X · Balance sheet $32,434,488 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $627,527$926,940
X-2 Savings and temporary cash investmentsStart of year $3,675,409$2,633,765
X-4 Accounts receivableStart of year $858,860$1,388,639
X-9 Prepaid expenses and deferred chargesStart of year $1,203,897$1,191,332
X-10c Land, buildings and equipment, netStart of year $25,673,509$25,219,105
X-11 Publicly traded securitiesStart of year $954,718$1,070,699
X-15 Other assetsStart of year $4,008$4,008
X-16 Total assetsStart of year $32,997,928$32,434,488
X-17 Accounts payable and accrued expensesStart of year $1,190,968$856,656
X-19 Deferred revenueStart of year $1,127,661$1,078,630
X-25 Other liabilitiesStart of year $3,891,946$4,387,125
X-26 Total liabilitiesStart of year $6,210,575$6,322,411
X-27 Net assets without donor restrictionsStart of year $26,787,353$26,112,077
X-32 Total net assets or fund balancesStart of year $26,787,353$26,112,077
X-33 Total liabilities and net assetsStart of year $32,997,928$32,434,488
Part XI · Reconciliation of net assets $26,112,077 net assets at year end
XI-1 Total revenue$9,308,754
XI-2 Total expenses$9,880,170
XI-3 Revenue less expenses−$571,416
XI-4 Net assets at start of year$26,787,353
XI-5 Net unrealized gains (losses) on investments−$103,860
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$26,112,077

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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