Civic Intelligence

Ocean Housing Development II Inc

EIN 20-4852154 • 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

56th percentile

0.03x

Higher debt load relative to assets than 56% of similar nonprofits.

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

Liabilities / Revenue

82nd percentile

0.32x

Higher debt load relative to revenue than 82% of similar nonprofits.

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

Net Margin

35th percentile

-2.3%

Higher net margin than 35% 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

43rd percentile

0.9%

Faster asset growth than 43% of similar nonprofits.

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

Revenue Growth

38th percentile

0.3%

Faster revenue growth than 38% of similar nonprofits.

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

Assets

Up

$743,277

Up $6,758 (+0.9%) from 2024

Liabilities

Down

$25,656

Down $712,721 (-97%) from 2024

Net Assets

Up

$717,621

Up $719,479 (+38723%) from 2024

Revenue

Up

$79,485

Up $272 (+0.3%) from 2024

Expenses

Down

$81,306

Down $7,899 (-8.9%) from 2024

Net Income

Up

-$1,821

Up $8,171 (+82%) from 2024

Trend Graphs

Balance Sheet Trend

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

$800K$600K$400K$200K$0-$200KAssets 2011: $729,279Liabilities 2011: $750,670Net Assets 2011: -$21,3912011Assets 2012: $731,016Liabilities 2012: $746,216Net Assets 2012: -$15,2002012Assets 2013: $738,022Liabilities 2013: $745,243Net Assets 2013: -$7,2212013Assets 2014: $733,748Liabilities 2014: $740,901Net Assets 2014: -$7,1532014Assets 2015: $732,959Liabilities 2015: $735,821Net Assets 2015: -$2,8622015Assets 2016: $732,214Liabilities 2016: $731,414Net Assets 2016: $8002016Assets 2017: $742,710Liabilities 2017: $740,641Net Assets 2017: $2,0692017Assets 2018: $739,296Liabilities 2018: $739,219Net Assets 2018: $772018Assets 2019: $744,223Liabilities 2019: $740,786Net Assets 2019: $3,4372019Assets 2020: $744,301Liabilities 2020: $736,048Net Assets 2020: $8,2532020Assets 2021: $746,225Liabilities 2021: $736,976Net Assets 2021: $9,2492021Assets 2022: $751,316Liabilities 2022: $746,015Net Assets 2022: $5,3012022Assets 2023: $747,309Liabilities 2023: $739,175Net Assets 2023: $8,1342023Assets 2024: $736,519Liabilities 2024: $738,377Net Assets 2024: -$1,8582024Assets 2025: $743,277Liabilities 2025: $25,656Net Assets 2025: $717,6212025

Highlighted filing

2025

Assets$743,277
Liabilities$25,656
Net Assets$717,621

Operations Trend

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

$100K$50K$0-$50KRevenue 2011: $59,953Expenses 2011: $56,948Net Income 2011: $3,0052011Revenue 2012: $61,627Expenses 2012: $55,436Net Income 2012: $6,1912012Revenue 2013: $64,728Expenses 2013: $56,749Net Income 2013: $7,9792013Revenue 2014: $65,241Expenses 2014: $65,173Net Income 2014: $682014Revenue 2015: $65,248Expenses 2015: $60,957Net Income 2015: $4,2912015Revenue 2016: $65,016Expenses 2016: $61,354Net Income 2016: $3,6622016Revenue 2017: $65,943Expenses 2017: $64,674Net Income 2017: $1,2692017Revenue 2018: $70,184Expenses 2018: $72,174Net Income 2018: -$1,9902018Revenue 2019: $68,661Expenses 2019: $65,301Net Income 2019: $3,3602019Revenue 2020: $72,526Expenses 2020: $67,710Net Income 2020: $4,8162020Revenue 2021: $72,073Expenses 2021: $71,077Net Income 2021: $9962021Revenue 2022: $76,461Expenses 2022: $80,409Net Income 2022: -$3,9482022Revenue 2023: $83,048Expenses 2023: $80,215Net Income 2023: $2,8332023Revenue 2024: $79,213Expenses 2024: $89,205Net Income 2024: -$9,9922024Revenue 2025: $79,485Expenses 2025: $81,306Net Income 2025: -$1,8212025

Highlighted filing

2025

Revenue$79,485
Expenses$81,306
Net Income-$1,821

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$7.43$0.26$7.18$0.79$0.81$0.02
2024Detailed filing. Detailed filing data is available for this year.$7.37$7.38$0.02$0.79$0.89$0.10
2023Detailed filing. Detailed filing data is available for this year.$7.47$7.39$0.08$0.83$0.80$0.03
2022Detailed filing. Detailed filing data is available for this year.$7.51$7.46$0.05$0.76$0.80$0.04
2021Detailed filing. Detailed filing data is available for this year.$7.46$7.37$0.09$0.72$0.71$0.01
2020Detailed filing. Detailed filing data is available for this year.$7.44$7.36$0.08$0.73$0.68$0.05
2019Detailed filing. Detailed filing data is available for this year.$7.44$7.41$0.03$0.69$0.65$0.03
2018Detailed filing. Detailed filing data is available for this year.$7.39$7.39$0.00$0.70$0.72$0.02
2017Detailed filing. Detailed filing data is available for this year.$7.43$7.41$0.02$0.66$0.65$0.01
2016Detailed filing. Detailed filing data is available for this year.$7.32$7.31$0.01$0.65$0.61$0.04
2015Detailed filing. Detailed filing data is available for this year.$7.33$7.36$0.03$0.65$0.61$0.04
2014Detailed filing. Detailed filing data is available for this year.$7.34$7.41$0.07$0.65$0.65$0.00
2013Summary only. Only limited summary data is available for this year.$7.38$7.45$0.07$0.65$0.57$0.08
2012Summary only. Only limited summary data is available for this year.$7.31$7.46$0.15$0.62$0.55$0.06
2011Summary only. Only limited summary data is available for this year.$7.29$7.51$0.21$0.60$0.57$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
$79,485
Mission and Program Overview

Mission

To provide low income housing to disabled individuals

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$495,928$482,059▼ $13,869
Savings and Temporary Cash Investments$235,577$251,531▲ $15,954
Cash and Non-Interest-Bearing Accounts$3,940$7,446▲ $3,506
Accounts Receivable$1,074$1,531▲ $457
Total Assets$736,519$743,277▲ $6,758
Other Assets Total-$710-
Liabilities
Other Liabilities$722,117$17,946▼ $704,171
Accounts Payable and Accrued Expenses$16,260$7,000▼ $9,260
Escrow Account Liability-$710-
Total Liabilities$738,377$25,656▼ $712,721
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$721,300-
Net Assets Without Donor Restrictions$-1,858$-3,679▼ $1,821
Total Net Assets Fund Balance$-1,858$717,621▲ $719,479
Total Liabilities and Net Assets / Fund Balance$736,519$743,277▲ $6,758

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$315,519$239,241$554,760
Land$166,540-$166,540
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
$79,409
Investment Income
$76
Other Revenue
$0
Change in Net Assets
$-1,821

Audited Revenue Reconciliation

Revenue per Audited Statements
$79,485
Total Revenue per Audited Statements
$79,485
Total Revenue per Form 990
$79,485
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$47,609
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$13,869--$13,869
Fees for Services Accounting-$7,288-$7,288
Fees for Services Management-$4,395-$4,395
Insurance$3,726--$3,726
Other Expenses$7,142$108-$108
Total Functional Expenses$54,636$26,670$0$81,306

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$81,306
Total Expenses per Audited Statements$81,306
Total Expenses per Form 990$81,306
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$17,946
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 ii does not have any employees. A portion of the salaries of certain ocean mental health services inc.'s administrative and 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 Ii Inc
EIN
20-4852154
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
2006
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 advance 721,300 the project received capital advance financing from hud of 721,300 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 september 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 an 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 reqllired 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
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IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0166540
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt017946
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO BHH
IRS990ScheduleD/RevenueSubtotalAmt079485
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 AN 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 REQLLIRED 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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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 I, LINE 3 COMPENSATION PROCESS FOR TOP OFFICIALS 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 II DOES NOT HAVE ANY EMPLOYEES. A PORTION OF THE SALARIES OF CERTAIN OCEAN MENTAL HEALTH SERVICES INC.'S ADMINISTRATIVE AND ACCOUNTING PERSONNEL ARE CHARGED TO THE PROJECT BASED ON TIME SPENT ON THE PROJECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CAPITAL ADVANCE 721,300 THE PROJECT RECEIVED CAPITAL ADVANCE FINANCING FROM HUD OF 721,300 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 SEPTEMBER 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/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0BRIGHT HARBOR HEALTHCARE
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C3
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0MEN HEALTH
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0687 ROUTE 9
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IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0ACTUAL
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt1ACTUAL

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