Civic Intelligence

Ocean Housing Development I Inc

EIN 20-1797292 • 501(c)3 • Bayville, NJ

Profile

To provide low income housing to disabled individuals

687 Route 9Bayville, NJ 08721

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

73rd percentile

0.18x

Higher debt load relative to assets than 73% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Liabilities / Revenue

94th percentile

1.62x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Net Margin

8th percentile

-46%

Higher net margin than 8% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Source year 2025

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

56th percentile

5.8%

Faster asset growth than 56% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2024 to 2025

Revenue Growth

28th percentile

-6.2%

Faster revenue growth than 28% of similar nonprofits.

501(c)3 • $500k-$1M nonprofits • Annualized from 2024 to 2025

Assets

Up

$554,277

Up $30,573 (+5.8%) from 2024

Liabilities

Down

$97,620

Down $475,370 (-83%) from 2024

Net Assets

Up

$456,657

Up $505,943 (+1027%) from 2024

Revenue

Down

$60,278

Down $3,986 (-6.2%) from 2024

Expenses

Up

$87,735

Up $9,931 (+13%) from 2024

Net Income

Down

-$27,457

Down $13,917 (-103%) from 2024

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0-$200KAssets 2011: $561,729Liabilities 2011: $576,682Net Assets 2011: -$14,9532011Assets 2012: $560,415Liabilities 2012: $577,575Net Assets 2012: -$17,1602012Assets 2013: $558,771Liabilities 2013: $571,937Net Assets 2013: -$13,1662013Assets 2014: $550,669Liabilities 2014: $567,496Net Assets 2014: -$16,8272014Assets 2015: $535,587Liabilities 2015: $564,661Net Assets 2015: -$29,0742015Assets 2016: $531,737Liabilities 2016: $560,900Net Assets 2016: -$29,1632016Assets 2017: $531,269Liabilities 2017: $561,919Net Assets 2017: -$30,6502017Assets 2018: $531,967Liabilities 2018: $561,435Net Assets 2018: -$29,4682018Assets 2019: $532,931Liabilities 2019: $568,696Net Assets 2019: -$35,7652019Assets 2020: $532,762Liabilities 2020: $559,889Net Assets 2020: -$27,1272020Assets 2021: $531,335Liabilities 2021: $560,450Net Assets 2021: -$29,1152021Assets 2022: $531,811Liabilities 2022: $562,691Net Assets 2022: -$30,8802022Assets 2023: $527,913Liabilities 2023: $563,659Net Assets 2023: -$35,7462023Assets 2024: $523,704Liabilities 2024: $572,990Net Assets 2024: -$49,2862024Assets 2025: $554,277Liabilities 2025: $97,620Net Assets 2025: $456,6572025

Highlighted filing

2025

Assets$554,277
Liabilities$97,620
Net Assets$456,657

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100K$50K$0-$50KRevenue 2011: $56,367Expenses 2011: $53,308Net Income 2011: $3,0592011Revenue 2012: $55,431Expenses 2012: $57,638Net Income 2012: -$2,2072012Revenue 2013: $56,054Expenses 2013: $52,060Net Income 2013: $3,9942013Revenue 2014: $61,188Expenses 2014: $64,849Net Income 2014: -$3,6612014Revenue 2015: $59,166Expenses 2015: $71,413Net Income 2015: -$12,2472015Revenue 2016: $66,081Expenses 2016: $66,170Net Income 2016: -$892016Revenue 2017: $64,434Expenses 2017: $65,921Net Income 2017: -$1,4872017Revenue 2018: $65,638Expenses 2018: $64,456Net Income 2018: $1,1822018Revenue 2019: $59,182Expenses 2019: $65,479Net Income 2019: -$6,2972019Revenue 2020: $71,064Expenses 2020: $62,426Net Income 2020: $8,6382020Revenue 2021: $70,143Expenses 2021: $72,131Net Income 2021: -$1,9882021Revenue 2022: $72,925Expenses 2022: $74,690Net Income 2022: -$1,7652022Revenue 2023: $66,893Expenses 2023: $71,759Net Income 2023: -$4,8662023Revenue 2024: $64,264Expenses 2024: $77,804Net Income 2024: -$13,5402024Revenue 2025: $60,278Expenses 2025: $87,735Net Income 2025: -$27,4572025

Highlighted filing

2025

Revenue$60,278
Expenses$87,735
Net Income-$27,457

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.54$0.98$4.57$0.60$0.88$0.27
2024Detailed filing. Detailed filing data is available for this year.$5.24$5.73$0.49$0.64$0.78$0.14
2023Detailed filing. Detailed filing data is available for this year.$5.28$5.64$0.36$0.67$0.72$0.05
2022Detailed filing. Detailed filing data is available for this year.$5.32$5.63$0.31$0.73$0.75$0.02
2021Detailed filing. Detailed filing data is available for this year.$5.31$5.60$0.29$0.70$0.72$0.02
2020Detailed filing. Detailed filing data is available for this year.$5.33$5.60$0.27$0.71$0.62$0.09
2019Detailed filing. Detailed filing data is available for this year.$5.33$5.69$0.36$0.59$0.65$0.06
2018Detailed filing. Detailed filing data is available for this year.$5.32$5.61$0.29$0.66$0.64$0.01
2017Detailed filing. Detailed filing data is available for this year.$5.31$5.62$0.31$0.64$0.66$0.01
2016Detailed filing. Detailed filing data is available for this year.$5.32$5.61$0.29$0.66$0.66$0.00
2015Detailed filing. Detailed filing data is available for this year.$5.36$5.65$0.29$0.59$0.71$0.12
2014Detailed filing. Detailed filing data is available for this year.$5.51$5.67$0.17$0.61$0.65$0.04
2013Summary only. Only limited summary data is available for this year.$5.59$5.72$0.13$0.56$0.52$0.04
2012Summary only. Only limited summary data is available for this year.$5.60$5.78$0.17$0.55$0.58$0.02
2011Summary only. Only limited summary data is available for this year.$5.62$5.77$0.15$0.56$0.53$0.03
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2024 to Jun 30, 2025
Signed
Oct 24, 2025
Return Version
2024v5.0
Gross Receipts
$60,278
Mission and Program Overview

Mission

To provide housing to low income disabled individuals.

To provide low income housing to disabled individuals

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$385,265$412,395▲ $27,130
Savings and Temporary Cash Investments$129,748$132,407▲ $2,659
Cash and Non-Interest-Bearing Accounts$8,102$9,051▲ $949
Accounts Receivable$589--
Total Assets$523,704$554,277▲ $30,573
Other Assets Total-$424-
Liabilities
Other Liabilities$563,334$51,074▼ $512,260
Accounts Payable and Accrued Expenses$9,656$46,122▲ $36,466
Escrow Account Liability-$424-
Total Liabilities$572,990$97,620▼ $475,370
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$533,400-
Net Assets Without Donor Restrictions$-49,286$-76,743▼ $27,457
Total Net Assets Fund Balance$-49,286$456,657▲ $505,943
Total Liabilities and Net Assets / Fund Balance$523,704$554,277▲ $30,573

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$262,015$206,449$468,464
Land$150,380-$150,380
Compensation and Service Providers

Employees

NameTitleOtherTotal
Kimberly Veith LcswPres/CEO Non$291,431$291,431

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$60,237
Investment Income
$41
Other Revenue
$0
Change in Net Assets
$-27,457

Audited Revenue Reconciliation

Revenue per Audited Statements
$60,278
Total Revenue per Audited Statements
$60,278
Total Revenue per Form 990
$60,278
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$54,038
Salaries, Compensation, and Employee Benefits$33,697
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$20,218$13,479-$33,697
Depreciation Depletion$12,370--$12,370
Fees for Services Accounting-$6,788-$6,788
Fees for Services Management-$4,395-$4,395
Insurance$3,755--$3,755
Fees for Services Legal$803--$803
Other Expenses$7,087$105-$105
Total Functional Expenses$62,677$25,058$0$87,735

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$87,735
Total Expenses per Audited Statements$87,735
Total Expenses per Form 990$87,735
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 Bhh$31,074
Capital Advance Financing$20,000
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Audit committee
Yes
Backup withholding compliance
No
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
No
Conflict-of-interest policy
No
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 8B

Organization has no committees

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

990 reviewed and approved by board before filing

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

Ocean housing development 1 does not have any employees. A portion of the salaries of certain ocean mental health services inc.'s adminstrative accounting personnel are charged to the project based on time spent on the project.

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Ocean Housing Development I Inc
EIN
20-1797292
Phone
7323495550
Address
687 ROUTE 9, BAYVILLE, NJ 08721

Signing Officer

Name
Kimberly Veith Lcsw
Title
Pres/CEO Non-voting
Phone
7323495550
Signed
2025-10-24

Organization Details

Principal Officer
Kimberly Veith Lcsw
Formed
2004
Legal Domicile
Nj
Voting Board Members
15
Independent Board Members
15
Employees
0

Preparer

Firm
Cowan Gunteski & Co Pa
Address
730 HOPE ROAD, TINTON FALLS, NJ 07724
Preparer
Carol Egan
Phone
7326764100
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

Capital advances 533,400 the project received capital advance financing from hud of 533,400 which is secured by a mortgage on the land and buildings. This financing bears no interest and repayment is not required as long as the housing remains available for very low income people with disabilities until may 2046, at which time the note will be discharged. These advances have been reported as capital grant revenue in prior years and have been recorded as net assets with donor restrictions in the accompanying statement of financial position.

Financial Statement Notes

Schedule D, Page 2, Part IV, Line 2B

The organization holds security deposits in escrow for each tenant.

Schedule D, Page 3, Part X

The project qualifies as a tax-exempt organization under section 501(c)(3) of the internal revenue code and, therefore, no provision for federal income taxes has been recorded. The corporation's tax returns are generally subject to examination by the internal revenue service for a period of three years from the date they are to be filed. The project follows fasb accounting standards codification, which provides guidance on accounting for uncertainty in income taxes recognized in a corporation's financial statements. The guidance prescribes a recognition and measurement of a tax position taken or expected to be taken in a tax return and also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. As of june 30, 2025, the project had no uncertain tax positions that qualify for either recognition or disclosure in the financial statements. The project's policy is to recognize interest and penalties on unrecognized tax benefits in income tax expense in the financial statements, no interest and penalties were recorded during the year june 30, 2025. The project is required to file form 990, return of organization exempt from income tax, with the internal revenue service.

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IRS990/OtherExpensesGrp/Desc1UTILITIES
IRS990/OtherExpensesGrp/Desc2BAD DEBT
IRS990/OtherExpensesGrp/Desc3MISC ADMIN EXPENSES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1105
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IRS990/PoliticalCampaignActyInd0false
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IRS990ScheduleA/PublicSupportPY170Pct00.99950
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt066857
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt072891
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt070111
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0334320
IRS990ScheduleA/TotalSupportAmt0334503
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0262015
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0206449
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0468464
IRS990ScheduleD/ExpensesSubtotalAmt087735
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/BookValueAmt0150380
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0150380
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt031074
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt120000
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO BHH
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1CAPITAL ADVANCE FINANCING
IRS990ScheduleD/RevenueSubtotalAmt060278
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HOLDS SECURITY DEPOSITS IN ESCROW FOR EACH TENANT.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1THE PROJECT QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, THEREFORE, NO PROVISION FOR FEDERAL INCOME TAXES HAS BEEN RECORDED. THE CORPORATION'S TAX RETURNS ARE GENERALLY SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE TO BE FILED. THE PROJECT FOLLOWS FASB ACCOUNTING STANDARDS CODIFICATION, WHICH PROVIDES GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN A CORPORATION'S FINANCIAL STATEMENTS. THE GUIDANCE PRESCRIBES A RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN AND ALSO PROVIDES GUIDANCE ON DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING IN INTERIM PERIODS, DISCLOSURE AND TRANSITION. AS OF JUNE 30, 2025, THE PROJECT HAD NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE PROJECT'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ON UNRECOGNIZED TAX BENEFITS IN INCOME TAX EXPENSE IN THE FINANCIAL STATEMENTS, NO INTEREST AND PENALTIES WERE RECORDED DURING THE YEAR JUNE 30, 2025. THE PROJECT IS REQUIRED TO FILE FORM 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX, WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART IV, LINE 2B
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalExpensesPerForm990Amt087735
IRS990ScheduleD/TotalLiabilityAmt051074
IRS990ScheduleD/TotalRevenuePerForm990Amt060278
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt060278
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt087735
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IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1202974
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt07437
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt120647
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0KIMBERLY VEITH LCSW
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1KATHY GREENE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRES/CEO NON-VOTING
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt0291431
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt1229260
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0PART 1 LINE 3 COMPENSATION PROCESS FOR TOP OFFICALS AND OFFICERS SALARY SCALES ARE DETERMINED BY THE CEO AND APPROVED BY THE BOARD.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE J, PART III
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION HAS NO COMMITTEES
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1990 REVIEWED AND APPROVED BY BOARD BEFORE FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2OCEAN HOUSING DEVELOPMENT 1 DOES NOT HAVE ANY EMPLOYEES. A PORTION OF THE SALARIES OF CERTAIN OCEAN MENTAL HEALTH SERVICES INC.'S ADMINSTRATIVE ACCOUNTING PERSONNEL ARE CHARGED TO THE PROJECT BASED ON TIME SPENT ON THE PROJECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CAPITAL ADVANCES 533,400 THE PROJECT RECEIVED CAPITAL ADVANCE FINANCING FROM HUD OF 533,400 WHICH IS SECURED BY A MORTGAGE ON THE LAND AND BUILDINGS. THIS FINANCING BEARS NO INTEREST AND REPAYMENT IS NOT REQUIRED AS LONG AS THE HOUSING REMAINS AVAILABLE FOR VERY LOW INCOME PEOPLE WITH DISABILITIES UNTIL MAY 2046, AT WHICH TIME THE NOTE WILL BE DISCHARGED. THESE ADVANCES HAVE BEEN REPORTED AS CAPITAL GRANT REVENUE IN PRIOR YEARS AND HAVE BEEN RECORDED AS NET ASSETS WITH DONOR RESTRICTIONS IN THE ACCOMPANYING STATEMENT OF FINANCIAL POSITION.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART XI, LINE 9
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IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd0false
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0BRIGHT HARBOR HEALTHCARE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine2Txt0OCEAN MENTAL HEATLH SERVICES INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0210722291
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0NJ
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MEN HEALTH
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PublicCharityStatusTxt07
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0687 ROUTE 9
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0BAYVILLE
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