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Ocean Housing Development II INC FY2022 filing

Tax-deductible

Bayville, NJ501(c)(3)HousingEIN 20-4852154Revenue $76K in FY2022

On file with the IRS687 Route 9, 08721-2548 · Bayville, NJTax-exempt since Mar 2007Publicly supported — 509(a)(2)

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To provide low income Housing to disabled individuals

501(c)(3) charity; gifts are tax-deductible.
64¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
2 of 5
filings with a surplus
Average deficit $2K a year · 3% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
64%
of spending
Worth a look: 64% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
33 mo
of spending, in cash
Looks good: 33.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$746K
99% of total assets
Concern: liabilities are 99% 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
$76K
+6% vs prior year
Spent
$80K
To programs
64%
Net assets
$5K
By yearFY2021–FY2025
Revenue
$76K
FY2022▲ +6%
Tap a bar for its year
Revenue by fiscal year
FY2021$72K
FY2022$76K
FY2023$83K
FY2024$79K
FY2025$79K
Expenses
$80K
FY2022▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2021$71K
FY2022$80K
FY2023$80K
FY2024$89K
FY2025$81K
Net assets
$5K
FY2022▼ -43%
Tap a bar for its year
Net assets by fiscal year
FY2021$9K
FY2022$5K
FY2023$8K
FY2024−$2K
FY2025$718K

From the FY2022 Form 990 (year ending June 2022) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2022 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 Mar 2007.

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

Where the money goes

64 cents of each dollar spent went to programs.

Program services 64% · $51K Management & general 36% · $29K

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 (FY2021); the FY2022 filing did not itemize Part VII
$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
$0Pt VII · Sec A
See Ocean Housing Development II INC 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.

Questions for Ocean Housing Development II INC

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Provided by the organization

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1 program · $51K · in their own filed words · FY2021
01

To provide low income housing to disabled individuals

$51Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$76K
Ln 12
Fees for servicesLn 2g$76K
Investment incomeLn 3$64
Money outPt IX
$80K
Ln 25
Programscol B$51K
Managementcol C$29K
Owns and owesPt X
$5K
net assets · Ln 32
Cash and savingsLn 1–2$223K
Total assetsLn 16$751K
LiabilitiesLn 26$746K
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$76K
Investment incomeLn 3$64
Total revenueLn 12$76K
Assets in detailPt X, end of year
CashLn 1$10K
SavingsLn 2$213K
Cash and savings togetherLn 1–2$223K
Land, buildings, equipmentLn 10c$524K
Total assetsLn 16$751K
LiabilitiesLn 26$746K
Net assetsLn 32$5K
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 FY22End FY22
Cash and savingsLn 1–2$205K$223K
Land, buildings, equipmentLn 10c$538K$524K
Total assetsLn 16$746K$751K
LiabilitiesLn 26$737K$746K
Net assetsLn 32$9K$5K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$30K$12K$18K
Management feesLn 11a$3K$3K
Accounting feesLn 11c$6K$6K
Depreciation, depletion and amortizationLn 22$14K$14K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$22K$21K$1K
All other expensesLn 24e$1K$94$1K
Total functional expensesLn 25$80K$51K$29K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $79K$81K−$2K$718K 990 PDF
FY2024 $79K$89K−$10K−$2K 990 PDF
FY2023 $83K$80K$3K$8K 990 PDF
FY2022 Viewing $76K$80K−$4K$5K 990 PDF
FY2021 $72K$71K$996$9K 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 FY2022 990 (6 parts)
Part I · Summary $76,461 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $72,015$76,397
I-10 Investment incomePrior year $58$64
I-11 Other revenue$0
I-12 Total revenuePrior year $72,073$76,461
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $28,467$30,493
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $42,610$49,916
I-18 Total expensesPrior year $71,077$80,409
I-19 Revenue less expensesPrior year $996−$3,948
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 $76,461 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $76,397$76,397
VIII-3 Investment incomeRelated to mission $64$64
VIII-12 Total revenueRelated to mission $76,461$76,461
Part IX · Statement of functional expenses $80,409 across 7 lines filed
IX-7 Other salaries and wagesPrograms $12,197 · Management $18,296$30,493
IX-11a Management feesManagement $3,240$3,240
IX-11c Accounting feesManagement $5,500$5,500
IX-22 Depreciation, depletion and amortizationPrograms $13,869$13,869
IX-23 InsurancePrograms $3,550$3,550
IX-24 Other expenses (24a–d)Programs $21,446 · Management $1,004$22,450
IX-24e All other expensesPrograms $94 · Management $1,213$1,307
IX-25 Total functional expensesPrograms $51,156 · Management $29,253 · Fundraising $0$80,409
Part X · Balance sheet $751,316 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $1,896$10,201
X-2 Savings and temporary cash investmentsStart of year $202,851$212,534
X-4 Accounts receivableStart of year $3,943$4,915
X-10c Land, buildings and equipment, netStart of year $537,535$523,666
X-16 Total assetsStart of year $746,225$751,316
X-17 Accounts payable and accrued expensesStart of year $14,298$23,711
X-25 Other liabilitiesStart of year $722,678$722,304
X-26 Total liabilitiesStart of year $736,976$746,015
X-27 Net assets without donor restrictionsStart of year $9,249$5,301
X-32 Total net assets or fund balancesStart of year $9,249$5,301
X-33 Total liabilities and net assetsStart of year $746,225$751,316
Part XI · Reconciliation of net assets $5,301 net assets at year end
XI-1 Total revenue$76,461
XI-2 Total expenses$80,409
XI-3 Revenue less expenses−$3,948
XI-4 Net assets at start of year$9,249
XI-10 Net assets at end of year$5,301

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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