Ocean Fest INC FY2023 filing

Tax-deductible

Hampstead, NC501(c)(3)EnvironmentEIN 87-2990341Revenue $196K in FY2023

On file with the IRStheoceanfest.org2761 NC Hwy 210 E Suite G 173, 28443-8955 · Hampstead, NCTax-exempt since Mar 2022Publicly supported charity — 170(b)(1)(A)(vi)

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Fundraising and education to protect the ocean and marine environments.

501(c)(3) charity; gifts are tax-deductible.
88¢ of each $1 spent went to programs.
$23K 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

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
2 of 3
filings with a surplus
Average surplus $57K a year · 47% of revenue · last 3 filings
Fine: a surplus in 2 of the last 3 filings.
Pt I · Ln 19 · 3 filings
Spent on programs
88%
of spending
Looks good: 88% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$23K
to officers and key staff · 19% of spending
Fine: pay to officers and key staff is 19% of spending; 15% to 20%.
Pt VII · Sec A
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
Named funders
2
named funders · $1K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$196K
+35% vs prior year
Spent
$119K
To programs
88%
Net assets
$209K
By yearFY2022–FY2025
Revenue
$196K
FY2023▲ +35%
Tap a bar for its year
Revenue by fiscal year
FY2022$145K
FY2023$196K
FY2024$87K
FY2025$21K
Expenses
$119K
FY2023▲ +266%
Tap a bar for its year
Expenses by fiscal year
FY2022$33K
FY2023$119K
FY2024Not on file
FY2025$39K
Net assets
$209K
FY2023▲ +58%
Tap a bar for its year
Net assets by fiscal year
FY2022$132K
FY2023$209K
FY2024$212K
FY2025$194K

From the FY2023 Form 990 · see the original

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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 Mar 2022.

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

Where the money goes

88 cents of each dollar spent went to programs.

Program services 88% · $105K Management & general 9% · $11K Fundraising 3% · $3K

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

7 people listed on the 990; $23K paid to officers and key staff.

Part VII, Section A · reportable compensation
Event Operations Manager
$22,917Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Chairman
$0Pt VII · Sec A
Corp Dev Director Secretary
$0Pt VII · Sec A

Dmitri Brown’s $50K as Event Director is at the 86th percentile of top reported officer pay among 135 <$100K environment 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 · 2 named individuals · Part VII

NameFY2024FY2023
Dmitri Brown$50,000—
Jody Fletcher—$22,917

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Raises funds and educates to protect oceans and marine life.

Questions for Ocean Fest INC

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Provided by the organization

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3 programs · $105K · in their own filed words · FY2023
01

Awarded thirteen grants to nonprofits that are working to protect our precious marine environments.

$68Kprogram expense
02

Presented large festival that includes outreach and education with approximately 10,000 in attendance.

$34Kprogram expense
03

Presented small pop up outreach and educational events in the community with hundreds in attendance.

$4Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 2 funders$1K
Grants paid · 7 grants · $49K · 2022–2023

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$196K
Ln 12
Gifts and grantsLn 1h$159K
Other incomeLn 4–11$37K
Money outPt IX
$119K
Ln 25
Programscol B$105K
Managementcol C$11K
Fundraisingcol D$3K
Owns and owesPt X
$209K
net assets · Ln 32
Cash and savingsLn 1–2$208K
Total assetsLn 16$209K
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A1
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$159K
Fundraising eventsLn 1c$92K
Other incomeLn 4–11$37K
Total revenueLn 12$196K
Assets in detailPt X, end of year
CashLn 1$208K
Cash and savings togetherLn 1–2$208K
Total assetsLn 16$209K
LiabilitiesLn 26$0
Net assetsLn 32$209K
OperationsPt I, VI
EmployeesI 50
VolunteersI 6250
Fiscal year endsHeaderDecember
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$132K$208K
Total assetsLn 16$132K$209K
LiabilitiesLn 26$0$0
Net assetsLn 32$132K$209K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$68K$68K
Pay of current officers, directors and key staffLn 5$23K$17K$2K$3K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$4K$4K
Advertising and promotionLn 12$7K$7K
Office expensesLn 13$37$37
Information technologyLn 14$3K$3K
OccupancyLn 16$2K$2K
Conferences, conventions and meetingsLn 19$780$780
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$6K$6K
Total functional expensesLn 25$119K$105K$11K$3K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $21K$39K−$18K$194K 990 PDF
FY2024 $87K$212K 990 PDF
FY2023 Viewing $196K$119K$77K$209K 990 PDF
FY2022 $145K$33K$112K$132K 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 FY2023 990 (6 parts)
Part I · Summary $195,966 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $62,999$159,027
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $81,953$36,939
I-12 Total revenuePrior year $144,952$195,966
I-13 Grants and similar amounts paidPrior year $27,850$67,700
I-14 Benefits paid to members$0
I-15 Salaries and benefits$22,917
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $4,724$28,738
I-18 Total expensesPrior year $32,574$119,355
I-19 Revenue less expensesPrior year $112,378$76,611
Part VI · Governance 7 of 7 board members independent, 5 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
Part VIII · Statement of revenue $195,966 across 5 lines filed
Lines not itemized here account for $25,976 of total revenue; see the IRS return.
VIII-1c Fundraising events$91,818
VIII-1f All other contributions, gifts and grants$67,209
VIII-1h Total contributions, gifts and grants$159,027
VIII-8 Net income from fundraising eventsExcluded from tax $10,963$10,963
VIII-12 Total revenueRelated to mission $18,496 · Unrelated business $0 · Excluded from tax $18,443$195,966
Part IX · Statement of functional expenses $119,355 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $67,700$67,700
IX-5 Pay of current officers, directors and key staffPrograms $17,187 · Management $2,292 · Fundraising $3,438$22,917
IX-11b Legal feesManagement $4,699$4,699
IX-11c Accounting feesManagement $3,600$3,600
IX-12 Advertising and promotionPrograms $7,346$7,346
IX-13 Office expensesPrograms $37$37
IX-14 Information technologyPrograms $2,522$2,522
IX-16 OccupancyPrograms $2,161$2,161
IX-19 Conferences, conventions and meetingsPrograms $780$780
IX-23 InsurancePrograms $1,939$1,939
IX-24 Other expenses (24a–d)Programs $5,654$5,654
IX-25 Total functional expensesPrograms $105,326 · Management $10,591 · Fundraising $3,438$119,355
Part X · Balance sheet $208,705 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $132,094$208,162
X-4 Accounts receivable$543
X-16 Total assetsStart of year $132,094$208,705
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $132,094$208,705
X-32 Total net assets or fund balancesStart of year $132,094$208,705
X-33 Total liabilities and net assetsStart of year $132,094$208,705
Part XI · Reconciliation of net assets $208,705 net assets at year end
XI-1 Total revenue$195,966
XI-2 Total expenses$119,355
XI-3 Revenue less expenses$76,611
XI-4 Net assets at start of year$132,094
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$208,705

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

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