Civic Intelligence

Ocean Housing Development III Inc C/O Kimberly Veith Lcsw

EIN 20-4852205 • 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

27th percentile

0.02x

Higher debt load relative to assets than 27% of similar nonprofits.

NTEE L • $500k-$1M nonprofits • Source year 2025

Liabilities / Revenue

37th percentile

0.23x

Higher debt load relative to revenue than 37% of similar nonprofits.

NTEE L • $500k-$1M nonprofits • Source year 2025

Net Margin

43rd percentile

-10%

Higher net margin than 43% of similar nonprofits.

NTEE L • $500k-$1M nonprofits • Source year 2025

Top Officer Pay

88th percentile

$291,431

Higher top officer pay than 88% of similar nonprofits.

Top officer pay equals 399.7% of source-year revenue.

NTEE L • $500k-$1M nonprofits • Source year 2025

Asset Growth

56th percentile

-0.0%

Faster asset growth than 56% of similar nonprofits.

NTEE L • $500k-$1M nonprofits • Annualized from 2024 to 2025

Revenue Growth

25th percentile

-5.0%

Faster revenue growth than 25% of similar nonprofits.

NTEE L • $500k-$1M nonprofits • Annualized from 2024 to 2025

Assets

Down

$736,742

Down $101 (-0.0%) from 2024

Liabilities

Down

$17,115

Down $758,893 (-98%) from 2024

Net Assets

Up

$719,627

Up $758,792 (+1937%) from 2024

Revenue

Down

$72,914

Down $3,835 (-5.0%) from 2024

Expenses

Down

$80,422

Down $1,118 (-1.4%) from 2024

Net Income

Down

-$7,508

Down $2,717 (-57%) from 2024

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0-$500KAssets 2011: $770,342Liabilities 2011: $803,296Net Assets 2011: -$32,9542011Assets 2012: $773,205Liabilities 2012: $799,258Net Assets 2012: -$26,0532012Assets 2013: $774,367Liabilities 2013: $793,512Net Assets 2013: -$19,1452013Assets 2014: $772,839Liabilities 2014: $794,325Net Assets 2014: -$21,4862014Assets 2015: $761,216Liabilities 2015: $788,203Net Assets 2015: -$26,9872015Assets 2016: $757,928Liabilities 2016: $786,137Net Assets 2016: -$28,2092016Assets 2017: $757,552Liabilities 2017: $788,010Net Assets 2017: -$30,4582017Assets 2018: $755,774Liabilities 2018: $793,364Net Assets 2018: -$37,5902018Assets 2019: $763,087Liabilities 2019: $795,026Net Assets 2019: -$31,9392019Assets 2020: $756,140Liabilities 2020: $782,791Net Assets 2020: -$26,6512020Assets 2021: $751,418Liabilities 2021: $777,989Net Assets 2021: -$26,5712021Assets 2022: $749,723Liabilities 2022: $786,938Net Assets 2022: -$37,2152022Assets 2023: $741,066Liabilities 2023: $775,440Net Assets 2023: -$34,3742023Assets 2024: $736,843Liabilities 2024: $776,008Net Assets 2024: -$39,1652024Assets 2025: $736,742Liabilities 2025: $17,115Net Assets 2025: $719,6272025

Highlighted filing

2025

Assets$736,742
Liabilities$17,115
Net Assets$719,627

Operations Trend

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

$100K$50K$0-$50KRevenue 2011: $49,075Expenses 2011: $54,199Net Income 2011: -$5,1242011Revenue 2012: $60,470Expenses 2012: $53,569Net Income 2012: $6,9012012Revenue 2013: $60,455Expenses 2013: $53,547Net Income 2013: $6,9082013Revenue 2014: $59,150Expenses 2014: $61,491Net Income 2014: -$2,3412014Revenue 2015: $53,440Expenses 2015: $58,941Net Income 2015: -$5,5012015Revenue 2016: $62,054Expenses 2016: $63,276Net Income 2016: -$1,2222016Revenue 2017: $60,420Expenses 2017: $62,669Net Income 2017: -$2,2492017Revenue 2018: $58,942Expenses 2018: $66,073Net Income 2018: -$7,1312018Revenue 2019: $69,992Expenses 2019: $64,341Net Income 2019: $5,6512019Revenue 2020: $66,720Expenses 2020: $61,432Net Income 2020: $5,2882020Revenue 2021: $68,474Expenses 2021: $68,394Net Income 2021: $802021Revenue 2022: $56,118Expenses 2022: $66,762Net Income 2022: -$10,6442022Revenue 2023: $75,436Expenses 2023: $72,595Net Income 2023: $2,8412023Revenue 2024: $76,749Expenses 2024: $81,540Net Income 2024: -$4,7912024Revenue 2025: $72,914Expenses 2025: $80,422Net Income 2025: -$7,5082025

Highlighted filing

2025

Revenue$72,914
Expenses$80,422
Net Income-$7,508

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.37$0.17$7.20$0.73$0.80$0.08
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.37$7.76$0.39$0.77$0.82$0.05
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.41$7.75$0.34$0.75$0.73$0.03
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.50$7.87$0.37$0.56$0.67$0.11
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.51$7.78$0.27$0.68$0.68$0.00
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.56$7.83$0.27$0.67$0.61$0.05
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.63$7.95$0.32$0.70$0.64$0.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.56$7.93$0.38$0.59$0.66$0.07
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.58$7.88$0.30$0.60$0.63$0.02
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.58$7.86$0.28$0.62$0.63$0.01
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.61$7.88$0.27$0.53$0.59$0.06
2014Detailed filing. Detailed filing data is available for this year.$7.73$7.94$0.21$0.59$0.61$0.02
2013Summary only. Only limited summary data is available for this year.$7.74$7.94$0.19$0.60$0.54$0.07
2012Summary only. Only limited summary data is available for this year.$7.73$7.99$0.26$0.60$0.54$0.07
2011Summary only. Only limited summary data is available for this year.$7.70$8.03$0.33$0.49$0.54$0.05
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
$72,914
Mission and Program Overview

Mission

To provide low income housing to disabled individuals

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$571,263$559,310▼ $11,953
Savings and Temporary Cash Investments$162,566$170,513▲ $7,947
Accounts Receivable$772$3,283▲ $2,511
Cash and Non-Interest-Bearing Accounts$1,498$2,061▲ $563
Prepaid Expenses and Deferred Charges$744$821▲ $77
Total Assets$736,843$736,742▼ $101
Other Assets Total-$754-
Liabilities
Other Liabilities$767,498$9,523▼ $757,975
Accounts Payable and Accrued Expenses$8,510$6,838▼ $1,672
Escrow Account Liability-$754-
Total Liabilities$776,008$17,115▼ $758,893
Net Assets / Fund Balance
Net Assets With Donor Restrictions-$766,300-
Net Assets Without Donor Restrictions$-39,165$-46,673▼ $7,508
Total Net Assets Fund Balance$-39,165$719,627▲ $758,792
Total Liabilities and Net Assets / Fund Balance$736,843$736,742▼ $101

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$277,995$199,060$477,055
Land$281,315-$281,315
Compensation and Service Providers

Employees

NameTitleOtherTotal
Kimberly VeithPres/CEO Non$291,431$291,431

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$72,864
Investment Income
$50
Other Revenue
$0
Change in Net Assets
$-7,508

Audited Revenue Reconciliation

Revenue per Audited Statements
$72,914
Total Revenue per Audited Statements
$72,914
Total Revenue per Form 990
$72,914
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$46,725
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$11,952--$11,952
Fees for Services Accounting-$6,288-$6,288
Fees for Services Management-$4,395-$4,395
Insurance$3,207--$3,207
Other Expenses$6,099$123-$123
Total Functional Expenses$55,422$25,000$0$80,422

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$80,422
Total Expenses per Audited Statements$80,422
Total Expenses per Form 990$80,422
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$9,523
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 iii does not have any employees. A portion of the salaries of certain ocean mental health services, inc.'s adminstrative and accounting personnel are charged to the project based on time spent on the project.

Form 990, Page 6, Part VI, Line 19

UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Ocean Housing Development Iii Inc
EIN
20-4852205
Phone
7323495550
Address
687 ROUTE 9, BAYVILLE, NJ 08721

Signing Officer

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

Organization Details

Principal Officer
Kimberly Veith
Formed
2008
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 766,300 the project received capital advance financing from hud of 766,300 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 2047, 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, accolinting 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.

Raw XML AppendixShowing 400 of 483 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/OtherChangesInNetAssetsAmt0766300
IRS990/OtherExpensesGrp/Desc0BUILDING MAINTENANCE
IRS990/OtherExpensesGrp/Desc1UTILITIES
IRS990/OtherExpensesGrp/Desc2BAD DEBTS
IRS990/OtherExpensesGrp/Desc3MISC. ADMINISTRATIVE EXPE
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt1123
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IRS990/OtherExpensesGrp/ProgramServicesAmt16099
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IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt044
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt042
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IRS990ScheduleA/PublicSupportPY170Pct00.99940
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt075390
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus3YearsAmt056074
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt068432
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt0349461
IRS990ScheduleA/TotalSupportAmt0349691
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IRS990ScheduleD/BuildingsGrp/BookValueAmt0277995
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0199060
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0477055
IRS990ScheduleD/ExpensesSubtotalAmt080422
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IRS990ScheduleD/FootnoteTextInd0X
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IRS990ScheduleD/LandGrp/BookValueAmt0281315
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0281315
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt09523
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO BHH
IRS990ScheduleD/RevenueSubtotalAmt072914
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, ACCOLINTING 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
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0559310
IRS990ScheduleD/TotalExpensesPerForm990Amt080422
IRS990ScheduleD/TotalLiabilityAmt09523
IRS990ScheduleD/TotalRevenuePerForm990Amt072914
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt072914
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IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd0false
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd0false
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd0false
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IRS990ScheduleJ/InitialContractExceptionInd0false
IRS990/ScheduleJRequiredInd0true
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt1202974
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt15639
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt120647
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0KIMBERLY VEITH
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 III DOES NOT HAVE ANY EMPLOYEES. A PORTION OF THE SALARIES OF CERTAIN OCEAN MENTAL HEALTH SERVICES, INC.'S ADMINSTRATIVE AND ACCOUNTING PERSONNEL ARE CHARGED TO THE PROJECT BASED ON TIME SPENT ON THE PROJECT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4CAPITAL ADVANCE 766,300 THE PROJECT RECEIVED CAPITAL ADVANCE FINANCING FROM HUD OF 766,300 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 2047, 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
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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IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt14395

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