Civic Intelligence

Ocean Tides Inc.

990 • Fiscal year 2020 • EIN 05-0366306

Jul 01, 2019 to Jun 30, 2020 • Filed on Sep 30, 2020

635 Ocean RoadNarragansett, RI 02882

(401) 789-1016

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

53rd percentile

0.20x

Higher debt load relative to assets than 53% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Liabilities / Revenue

44th percentile

0.18x

Higher debt load relative to revenue than 44% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Net Margin

25th percentile

-5.2%

Higher net margin than 25% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Top Officer Pay

36th percentile

$90,976

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 1.7% of source-year revenue.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2020

Asset Growth

65th percentile

13%

Faster asset growth than 65% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Revenue Growth

46th percentile

0.4%

Faster revenue growth than 46% of similar nonprofits.

2020 filings • 501(c)3 • $5M-$10M nonprofits • Annualized from 2019 to 2020

Assets

Up

$4,738,664

Up $544,572 (+13%) from 2019

Net Assets

Down

$3,810,641

Down $219,514 (-5.4%) from 2019

Liabilities

Up

$928,023

Up $764,086 (+466%) from 2019

Revenue

Up

$5,234,781

Up $20,966 (+0.4%) from 2019

Expenses

Up

$5,507,719

Up $32,164 (+0.6%) from 2019

Net Income

Down

-$272,938

Down $11,198 (-4.3%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0Assets 2011: $4,643,601Liabilities 2011: $1,928,946Net Assets 2011: $2,714,6552011Assets 2012: $4,331,991Liabilities 2012: $1,889,842Net Assets 2012: $2,442,1492012Assets 2013: $4,018,019Liabilities 2013: $1,845,305Net Assets 2013: $2,172,7142013Assets 2014: $3,868,689Liabilities 2014: $1,805,123Net Assets 2014: $2,063,5662014Assets 2015: $3,792,243Liabilities 2015: $1,683,505Net Assets 2015: $2,108,7382015Assets 2016: $3,940,316Liabilities 2016: $149,683Net Assets 2016: $3,790,6332016Assets 2017: $4,180,887Liabilities 2017: $92,811Net Assets 2017: $4,088,0762017Assets 2018: $4,411,283Liabilities 2018: $197,172Net Assets 2018: $4,214,1112018Assets 2019: $4,194,092Liabilities 2019: $163,937Net Assets 2019: $4,030,1552019Assets 2020: $4,738,664Liabilities 2020: $928,023Net Assets 2020: $3,810,6412020Assets 2021: $4,820,342Liabilities 2021: $159,786Net Assets 2021: $4,660,5562021Assets 2022: $4,134,714Liabilities 2022: $173,063Net Assets 2022: $3,961,6512022Assets 2023: $6,314,301Liabilities 2023: $1,600,887Net Assets 2023: $4,713,4142023Assets 2024: $5,234,019Liabilities 2024: $964,457Net Assets 2024: $4,269,5622024Assets 2025: $6,128,266Liabilities 2025: $1,692,006Net Assets 2025: $4,436,2602025

Highlighted filing

2020

Assets$4,738,664
Liabilities$928,023
Net Assets$3,810,641

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MRevenue 2011: $6,104,056Expenses 2011: $6,483,110Net Income 2011: -$379,0542011Expenses 2012: $5,788,8922012Revenue 2013: $5,072,972Expenses 2013: $5,335,646Net Income 2013: -$262,6742013Revenue 2014: $4,503,237Expenses 2014: $4,815,033Net Income 2014: -$311,7962014Revenue 2015: $4,867,831Expenses 2015: $4,593,805Net Income 2015: $274,0262015Revenue 2016: $6,280,576Expenses 2016: $4,783,291Net Income 2016: $1,497,2852016Revenue 2017: $4,899,647Expenses 2017: $4,706,457Net Income 2017: $193,1902017Revenue 2018: $5,550,013Expenses 2018: $5,521,134Net Income 2018: $28,8792018Revenue 2019: $5,213,815Expenses 2019: $5,475,555Net Income 2019: -$261,7402019Revenue 2020: $5,234,781Expenses 2020: $5,507,719Net Income 2020: -$272,9382020Revenue 2021: $5,051,280Expenses 2021: $5,248,251Net Income 2021: -$196,9712021Revenue 2022: $5,175,422Expenses 2022: $5,731,403Net Income 2022: -$555,9812022Revenue 2023: $6,534,480Expenses 2023: $5,958,630Net Income 2023: $575,8502023Revenue 2024: $5,593,078Expenses 2024: $6,248,294Net Income 2024: -$655,2162024Revenue 2025: $6,772,307Expenses 2025: $6,759,973Net Income 2025: $12,3342025

Highlighted filing

2020

Revenue$5,234,781
Expenses$5,507,719
Net Income-$272,938
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Sep 30, 2020
Return Version
2019v5.0
Gross Receipts
$5,234,781
Mission and Program Overview

Mission

To help at-risk boys through a school and residential program tailored to the individual. We believe each individual that comes to us is worthy of our respect, needful of our care, and capable of success through everyday experiences and interactions in a highly structured program.

To treat, rehabilitate, and educate predelinquent youths and neglected children.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$1,971,305$1,817,772▼ $153,533
Investments Other Securities$1,174,989$1,247,180▲ $72,191
Cash and Non-Interest-Bearing Accounts$395,200$1,199,530▲ $804,330
Accounts Receivable$628,454$440,495▼ $187,959
Prepaid Expenses and Deferred Charges$18,299$24,722▲ $6,423
Total Assets$4,194,092$4,738,664▲ $544,572
Other Assets Total$5,845$8,965▲ $3,120
Liabilities
Unsecured Notes Loans Payable-$869,176-
Accounts Payable and Accrued Expenses$70,021$44,844▼ $25,177
Other Liabilities$93,916$14,003▼ $79,913
Total Liabilities$163,937$928,023▲ $764,086
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$4,030,155$3,810,641▼ $219,514
Total Net Assets Fund Balance$4,030,155$3,810,641▼ $219,514
Total Liabilities and Net Assets / Fund Balance$4,194,092$4,738,664▲ $544,572

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$1,762,634$1,990,758$3,753,392
Other Land Buildings$42,088$464,497$506,585
Equipment$13,050$367,196$380,246
Other Securities$1,247,180--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Elizabeth IovinoDirector of FinaFT$67,073$23,903$90,976
Revenue and Support

Revenue Composition

Contributions and Grants
$167,500
Program Service Revenue
$5,048,513
Investment Income
$18,768
Other Revenue
$0
All Other Contributions
$92,500
Change in Net Assets
$-272,938

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,234,781
Revenue Not Reported on Form 990
$53,424
Total Revenue per Audited Statements
$5,288,205
Total Revenue per Form 990
$5,234,781
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$3,924,259
Other Expenses$1,583,460
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$2,636,984$244,198-$2,881,182
Other Employee Benefits$484,941$60,550-$545,491
Occupancy$392,846$49,050-$441,896
Payroll Taxes$217,827$27,198-$245,025
Pension Plan Contributions$148,914$18,593-$167,507
Depreciation Depletion$136,491$17,042-$153,533
All Other Expenses$97,887$6,626-$104,513
Insurance$77,268$9,648-$86,916
Current Officers, Directors, Trustees, and Key Employees-$85,054-$85,054
Other Expenses$79,758$11,490-$79,758
Fees for Services Other$56,396--$56,396
Office Expenses$44,496$5,556-$50,052
Information Technology$39,194$4,894-$44,088
Fees for Services Accounting$24,225$3,025-$27,250
Travel$4,193$524-$4,717
Advertising$1,695--$1,695
Fees for Services Legal-$750-$750
Total Functional Expenses$4,941,968$565,751$0$5,507,719

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$5,507,719
Total Expenses per Audited Statements$5,507,719
Total Expenses per Form 990$5,507,719
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Related Party$14,003
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI

Line 2 - a trustee of the organization is also the executive director for the brohters of christian schools, province of long island - new england (cbline). The organization leases property from cbline. Two trustees of the organization are also trustees of the ocean tides christian brothers charitable trust. The trust provides support to the organization and the organization leases vehicles from the trust.

Form 990, Page 6, Part VI, Line 2

SEE RESPONSE ABOVE

Form 990, Page 6, Part VI, Line 11B

The president/ceo of the organization reviews the form 990 before it is filed. A copy of the tax return is emailed to all members of the board of trustees.

Form 990, Page 6, Part VI, Line 12C

The president/ceo of ocean tides receives copies of the conflict of interest policy annually.

Form 990, Page 6, Part VI, Line 15A

The chair of the board and fianance committee is responsible for reviewing and approving the compensation of the ceo every three years.

Form 990, Page 6, Part VI, Line 15B

The other officers' compensation are reviewed and approved by the finance committee.

Form 990, Page 6, Part VI, Line 19

The governing documents, conflict of interest policy and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Ocean Tides Inc
EIN
05-0366306
Phone
4017891016
Address
635 OCEAN ROAD, NARRAGANSETT, RI 02882

Signing Officer

Name
Br James Martino Fsc
Title
Treasurer/president
Phone
4017891016
Signed
2020-09-30
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Br James Martino Fsc
Formed
1975
Legal Domicile
Ri
Voting Board Members
17
Independent Board Members
16
Employees
104

Preparer

Firm
Feeney Foster & Cavanagh Cpas LLC
Address
6 BLACKSTONE VALLEY PL STE 401D, LINCOLN, RI 02865-1162
Preparer
Paul J Cavanagh CPA
Phone
4016581300
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

To help at-risk boys through a school and residential program tailored to the individual. We believe each individual that comes to us is worthy of our respect, needful of our care, and capable of success through everyday experiences and interactions in a highly structured program.

Form 990, Page 2, Part III, Line 4A

Ocean tides school is one school with two campuses. Ocean tides school narrgansett campus is located in narragansett, rhode island. It is a residential school for students who are in the ocean tides residential program. It is for boys in grades eight through twelve. Ocean tides school providence campus is located in providence, rhode island. It is a day school. It is an alternative school for boys in grades nine through twelve. At both campuses, students are offered a full high school diploma. Both campuses are fully accredited by the rhode island department of education including special education. It is the responsibility of the education component to provide ongoing educational services to the youngsters in the program. Given the severe educational problems that the ocean tides youngster has experienced in the past, the school program is one that seeks to provide creative, individualized programs that meet the needs of each youngsters entrusted to our care.

Form 990, Page 2, Part III, Line 4B

Ocean tides offers residential services for at-risk boys. The residential program is broken down into three components: group living, extensions, and social services. The role of the group living ccomponent in the total treatment plan is one that assures responsibility for the everyday living of the youngsters in the narragansett facility. There is an attempt to create a warm atmosphere where youngsters will grow physically, emotionally, and spiritually; this is an atmosphere created on the basis of concern, responsibility and trust. The extensions provide a youngster with the opportunity to return to the community, while still a part of the ocean tides program. The social services component of the program is responsible for providing services for the youngsters and their families in the entire ocean tides program. The social services department established regular contact with the youngsters and their families, providing for counseling services, support systems and other needs which might be apparent in an individual situation.

Form 990, Part XI, Line 9

Expenses netted with revenue on fs 0 expenses netted with revenue on fs 0

Financial Statement Notes

Schedule D, Page 4, Part XI, Line 2D

Expenses netted with revenue on fs 0

Schedule D, Page 4, Part XII, Line 2D

Expenses netted with revenue on fs 0

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IRS990/Desc0OCEAN TIDES SCHOOL IS ONE SCHOOL WITH TWO CAMPUSES. OCEAN TIDES SCHOOL NARRGANSETT CAMPUS IS LOCATED IN NARRAGANSETT, RHODE ISLAND. IT IS A RESIDENTIAL SCHOOL FOR STUDENTS WHO ARE IN THE OCEAN TIDES RESIDENTIAL PROGRAM. IT IS FOR BOYS IN GRADES EIGHT THROUGH TWELVE. OCEAN TIDES SCHOOL PROVIDENCE CAMPUS IS LOCATED IN PROVIDENCE, RHODE ISLAND. IT IS A DAY SCHOOL. IT IS AN ALTERNATIVE SCHOOL FOR BOYS IN GRADES NINE THROUGH TWELVE. AT BOTH CAMPUSES, STUDENTS ARE OFFERED A FULL HIGH SCHOOL DIPLOMA. BOTH CAMPUSES ARE FULLY ACCREDITED BY THE RHODE ISLAND DEPARTMENT OF EDUCATION INCLUDING SPECIAL EDUCATION. IT IS THE RESPONSIBILITY OF THE EDUCATION COMPONENT TO PROVIDE ONGOING EDUCATIONAL SERVICES TO THE YOUNGSTERS IN THE PROGRAM. GIVEN THE SEVERE EDUCATIONAL PROBLEMS THAT THE OCEAN TIDES YOUNGSTER HAS EXPERIENCED IN THE PAST, THE SCHOOL PROGRAM IS ONE THAT SEEKS TO PROVIDE CREATIVE, INDIVIDUALIZED PROGRAMS THAT MEET THE NEEDS OF EACH YOUNGSTERS ENTRUSTED TO OUR CARE.
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IRS990/MissionDesc0TO HELP AT-RISK BOYS THROUGH A SCHOOL AND RESIDENTIAL PROGRAM TAILORED TO THE INDIVIDUAL. WE BELIEVE EACH INDIVIDUAL THAT COMES TO US IS WORTHY OF OUR RESPECT, NEEDFUL OF OUR CARE, AND CAPABLE OF SUCCESS THROUGH EVERYDAY EXPERIENCES AND INTERACTIONS IN A HIGHLY STRUCTURED PROGRAM.
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IRS990/PrincipalOfficerNm0BR JAMES MARTINO FSC
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IRS990/ProgSrvcAccomActy2Grp/Desc0OCEAN TIDES OFFERS RESIDENTIAL SERVICES FOR AT-RISK BOYS. THE RESIDENTIAL PROGRAM IS BROKEN DOWN INTO THREE COMPONENTS: GROUP LIVING, EXTENSIONS, AND SOCIAL SERVICES. THE ROLE OF THE GROUP LIVING CCOMPONENT IN THE TOTAL TREATMENT PLAN IS ONE THAT ASSURES RESPONSIBILITY FOR THE EVERYDAY LIVING OF THE YOUNGSTERS IN THE NARRAGANSETT FACILITY. THERE IS AN ATTEMPT TO CREATE A WARM ATMOSPHERE WHERE YOUNGSTERS WILL GROW PHYSICALLY, EMOTIONALLY, AND SPIRITUALLY; THIS IS AN ATMOSPHERE CREATED ON THE BASIS OF CONCERN, RESPONSIBILITY AND TRUST. THE EXTENSIONS PROVIDE A YOUNGSTER WITH THE OPPORTUNITY TO RETURN TO THE COMMUNITY, WHILE STILL A PART OF THE OCEAN TIDES PROGRAM. THE SOCIAL SERVICES COMPONENT OF THE PROGRAM IS RESPONSIBLE FOR PROVIDING SERVICES FOR THE YOUNGSTERS AND THEIR FAMILIES IN THE ENTIRE OCEAN TIDES PROGRAM. THE SOCIAL SERVICES DEPARTMENT ESTABLISHED REGULAR CONTACT WITH THE YOUNGSTERS AND THEIR FAMILIES, PROVIDING FOR COUNSELING SERVICES, SUPPORT SYSTEMS AND OTHER NEEDS WHICH MIGHT BE APPARENT IN AN INDIVIDUAL SITUATION.
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IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 4, PART XI, LINE 2D
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.13$1.69$4.44$6.77$6.76$0.01
2024Detailed filing. Detailed filing data is available for this year.$5.23$0.96$4.27$5.59$6.25$0.66
2023Detailed filing. Detailed filing data is available for this year.$6.31$1.60$4.71$6.53$5.96$0.58
2022Detailed filing. Detailed filing data is available for this year.$4.13$0.17$3.96$5.18$5.73$0.56
2021Detailed filing. Detailed filing data is available for this year.$4.82$0.16$4.66$5.05$5.25$0.20
2020Detailed filing. Detailed filing data is available for this year.$4.74$0.93$3.81$5.23$5.51$0.27
2019Summary only. Only limited summary data is available for this year.$4.19$0.16$4.03$5.21$5.48$0.26
2018Summary only. Only limited summary data is available for this year.$4.41$0.20$4.21$5.55$5.52$0.03
2017Summary only. Only limited summary data is available for this year.$4.18$0.09$4.09$4.90$4.71$0.19
2016Summary only. Only limited summary data is available for this year.$3.94$0.15$3.79$6.28$4.78$1.50
2015Detailed filing. Detailed filing data is available for this year.$3.79$1.68$2.11$4.87$4.59$0.27
2014Detailed filing. Detailed filing data is available for this year.$3.87$1.81$2.06$4.50$4.82$0.31
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.02$1.85$2.17$5.07$5.34$0.26
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.33$1.89$2.44$5.79
2011Summary only. Only limited summary data is available for this year.$4.64$1.93$2.71$6.10$6.48$0.38