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Ocracoke Preservation Society INC EIN 56-1360791

Ocracoke Preservation Society INC

EIN  56-1360791 Public charity (501(c)(3)) Ocracoke, NC
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Size
$100K–1M
What they do
Preserves the unique heritage and history of Ocracoke Island.
Leadership
Paige Bennett · Secretary
Money in and out
$587K revenue, $213K expenses
Bottom line
100% program efficiency

Preserves the unique heritage and history of Ocracoke Island. For fiscal year 2025 it reported $587K in revenue, $213K in expenses, and $1.5M in net assets.Pt I

Where the money goes · FY2025
Total revenue
$587K
Pt VIII · Ln 12
Total expenses
$213K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $374K
Where spending went · Part IX cols B–D
Program services $1.00
Program efficiency
100%
of spending reaches programs0% vs prior filing year
Operating runway
23.9mo
months of highly liquid reserves at operating expense rate▲ +53% vs prior filing year
Surplus margin
+64%
revenue over expenses, this year▲ +20% vs prior filing year

Summary of the Filing

Part I · fiscal year 2025 · Form 990
Revenue
$587K
FY2025▲ +38%
Expenses
$213K
FY2025▲ +7%
Total assets
$2.0M
FY2025▲ +27%
Total liabilities
$518K
FY2025▲ +1%
Total revenue
$587K
Pt VIII · Ln 12
Total expenses
$213K
Pt IX · Ln 25
Net assets
$1.5M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$374K
Total assetsPt X · Ln 16$2.0M
Program-expense ratioPt IX · col B100%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

2 program services account for $213K of program spending, described in the organization's own filed words · FY2025.
01

Maintain historic ocracoke home as museum, library and to promote ocracoke heritage thru special events during the year

$212Kprogram expense
02

Publish and distribute newsletter dedicated to historic environmental and cultural aspects of ocracoke

$559program expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item COcracoke Preservation Society INC
EINHdr · item D56-1360791
Principal addressHdr · item COcracoke, NC
WebsiteHdr · item Jwww.ocracokepreservation.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEnvironment (C30)
Ruling yearIRS BMFJul 1984

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
Paige Bennett
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
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$367K · 62%
Investment income$187K · 32%
Other revenue$33K · 6%
Contributions & grants62%$367K
Investment income32%$187K
Other revenue6%$33K
— government grantsLn 1e$48K
Total revenueLn 12$587K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $1.00
Program services100%$213K
Total functional expensesLn 25$213K

Balance Sheet

Part X · end of year
CashLn 1$414K
Total assetsLn 16$2.0M
Total liabilitiesLn 26$518K
Total net assetsLn 32$1.5M
Months of cash on handcomputed23.3

Financial Metrics

Form 990 · FY2025 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $423K · Operating expenses/yr $213K
23.9 months
Where the money goes
Program services
Program services $213K · Total expenses $213K
100%
Management & General
Management & general $0 · Total expenses $213K
0%
Fundraising
Fundraising $0 · Total expenses $213K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $244K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $367K · Total revenue $587K
62%
Government reliance
Government grants $48K · Total revenue $587K
8%
Earned-income share
Program service revenue $0 · Total revenue $587K
0%
Investment reliance
Investment income $187K · Total revenue $587K
+32%
Program self-sufficiency
Program service revenue $0 · Total expenses $213K
0%
Growth & trend
Revenue growth (YoY)
This year $587K · Prior year $424K
+38%
Revenue CAGR
FY2020 $67K · FY2025 $587K
+55%
Net-asset trend (YoY)
End of year $1.5M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $587K · Expenses $213K
+64%
Liabilities-to-Assets
Total liabilities — · Total assets $2.0M
—
Net-asset ratio
Net assets $1.5M · Total assets $2.0M
74%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $9K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $2.0M
0%
People & payroll
Highest Reported Total Compensation
Individual Paige Bennett · Reported title SECRETARY · Highest reported compensation $0 · Total expenses $213K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $67K · Total expenses $213K
32%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 100%——
Overhead ratio 0%——
Fundraising cost ratio 0%——
Revenue growth 38%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2025
Margo and Joseph Babb Family FoundationFY2025$5K
Total grants receivedfrom 1 funder$5K

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$587K revenue · viewing · ⤓ 990 PDF
FY2024$424K revenue · ⤓ 990 PDF
FY2023$391K revenue · ⤓ 990 PDF
FY2022$173K revenue · ⤓ 990 PDF
FY2021$273K revenue · ⤓ 990 PDF
FY2020$67K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2025IRS
Classification, formation year, addressIRS Business Master File
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