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Ocean Housing Development I Incorporated FY2023 filing

Tax-deductible

Bayville, NJ501(c)(3)Housing EIN 20-1797292Revenue $67K in FY2023

On file with the IRS687 Route 9, 08721-2548 · Bayville, NJTax-exempt since May 2005Publicly supported charity — 170(b)(1)(A)(vi)

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To provide low income Housing to disabled individuals

501(c)(3) charity; gifts are tax-deductible.
68¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2023 · 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 5
filings with a surplus
Average deficit $10K a year · 15% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
68%
of spending
Fine: 68% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
21 mo
of spending, in cash
Looks good: 20.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$564K
107% of total assets
Concern: liabilities are 107% of assets; over 80%.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$67K
-8% vs prior year
Spent
$72K
To programs
68%
Net assets
−$36K
By yearFY2021–FY2025
Revenue
$67K
FY2023▼ -8%
Tap a bar for its year
Revenue by fiscal year
FY2021$70K
FY2022$73K
FY2023$67K
FY2024$64K
FY2025$60K
Expenses
$72K
FY2023▼ -4%
Tap a bar for its year
Expenses by fiscal year
FY2021$72K
FY2022$75K
FY2023$72K
FY2024$78K
FY2025$88K
Net assets
−$36K
FY2023▼ -16%
Tap a bar for its year
Net assets by fiscal year
FY2021−$29K
FY2022−$31K
FY2023−$36K
FY2024−$49K
FY2025$457K

From the FY2023 Form 990 (year ending June 2023) · see the original

990 PDF Claim
You’re viewing the FY2023 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 May 2005.

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

Where the money goes

68 cents of each dollar spent went to programs.

Program services 68% · $49K Management & general 32% · $23K

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

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Who runs it and what they're paid

15 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Kathy Greene
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Ocean Housing Development I Incorporated executive salaries →

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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 affordable housing for disabled individuals.

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Provided by the organization

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1 program · $49K · in their own filed words · FY2022
01

To provide low income housing to disabled individuals

$49Kprogram expense

By the numbers

The FY2023 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$67K
Ln 12
Fees for servicesLn 2g$67K
Investment incomeLn 3$36
Money outPt IX
$72K
Ln 25
Programscol B$49K
Managementcol C$23K
Owns and owesPt X
−$36K
net assets · Ln 32
Cash and savingsLn 1–2$125K
Total assetsLn 16$528K
LiabilitiesLn 26$564K
PeoplePt VI, VII
15
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$67K
Investment incomeLn 3$36
Total revenueLn 12$67K
Assets in detailPt X, end of year
CashLn 1$5K
SavingsLn 2$120K
Cash and savings togetherLn 1–2$125K
Land, buildings, equipmentLn 10c$398K
Total assetsLn 16$528K
LiabilitiesLn 26$564K
Net assetsLn 32−$36K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$111K$125K
Land, buildings, equipmentLn 10c$410K$398K
Total assetsLn 16$532K$528K
LiabilitiesLn 26$563K$564K
Net assetsLn 32−$31K−$36K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$31K$18K$12K
Management feesLn 11a$4K$4K
Legal feesLn 11b$2K$2K
Accounting feesLn 11c$4K$4K
Depreciation, depletion and amortizationLn 22$12K$12K
InsuranceLn 23$3K$3K
Other expenses (24a–d)Ln 24$15K$15K$534
Total functional expensesLn 25$72K$49K$23K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $60K$88K−$27K$457K 990 PDF
FY2024 $64K$78K−$14K−$49K 990 PDF
FY2023 Viewing $67K$72K−$5K−$36K 990 PDF
FY2022 $73K$75K−$2K−$31K 990 PDF
FY2021 $70K$72K−$2K−$29K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $66,893 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $72,891$66,857
I-10 Investment incomePrior year $34$36
I-11 Other revenue$0
I-12 Total revenuePrior year $72,925$66,893
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $30,493$30,514
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $44,197$41,245
I-18 Total expensesPrior year $74,690$71,759
I-19 Revenue less expensesPrior year −$1,765−$4,866
Part VI · Governance 13 of 13 board members independent, 3 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $66,893 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $66,857$66,857
VIII-3 Investment incomeRelated to mission $36$36
VIII-12 Total revenueRelated to mission $66,893$66,893
Part IX · Statement of functional expenses $71,759 across 7 lines filed
IX-7 Other salaries and wagesPrograms $18,308 · Management $12,206$30,514
IX-11a Management feesManagement $4,395$4,395
IX-11b Legal feesManagement $1,500$1,500
IX-11c Accounting feesManagement $4,500$4,500
IX-22 Depreciation, depletion and amortizationPrograms $12,370$12,370
IX-23 InsurancePrograms $3,164$3,164
IX-24 Other expenses (24a–d)Programs $14,782 · Management $534$15,316
IX-25 Total functional expensesPrograms $48,624 · Management $23,135 · Fundraising $0$71,759
Part X · Balance sheet $527,913 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $2,576$5,054
X-2 Savings and temporary cash investmentsStart of year $108,177$120,211
X-4 Accounts receivableStart of year $1,901$1,849
X-9 Prepaid expenses and deferred chargesStart of year $9,152$3,164
X-10c Land, buildings and equipment, netStart of year $410,005$397,635
X-16 Total assetsStart of year $531,811$527,913
X-17 Accounts payable and accrued expensesStart of year $8,636$9,604
X-25 Other liabilitiesStart of year $554,055$554,055
X-26 Total liabilitiesStart of year $562,691$563,659
X-27 Net assets without donor restrictionsStart of year −$30,880−$35,746
X-32 Total net assets or fund balancesStart of year −$30,880−$35,746
X-33 Total liabilities and net assetsStart of year $531,811$527,913
Part XI · Reconciliation of net assets −$35,746 net assets at year end
XI-1 Total revenue$66,893
XI-2 Total expenses$71,759
XI-3 Revenue less expenses−$4,866
XI-4 Net assets at start of year−$30,880
XI-10 Net assets at end of year−$35,746

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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