Civic Intelligence

Ocean Academy Charter School

990 • Fiscal year 2018 • EIN 81-4885194

Jul 01, 2017 to Jun 30, 2018 • Filed on Jun 18, 2019

Organization ProfileWWW.OCEANACADEMYCHARTER.COM
678 5th StreetLakewood, NJ 08701

(732) 552-9849

Siviq Scores

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

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2018

Liabilities / Revenue

14th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Net Margin

66th percentile

10%

Higher net margin than 66% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Top Officer Pay

72nd percentile

$108,868

Higher top officer pay than 72% of similar nonprofits.

Top officer pay equals 4.9% of source-year revenue.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2018

Asset Growth

1st percentile

-100%

Faster asset growth than 1% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Revenue Growth

39th percentile

0.0%

Faster revenue growth than 39% of similar nonprofits.

2018 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $307,677 (-100%) from 2017

Net Assets

Down

$0

Down $228,605 (-100%) from 2017

Liabilities

Down

$0

Down $79,072 (-100%) from 2017

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin66th percentile

Revenue

Flat

$2,220,983

Flat from 2017

Expenses

Flat

$1,992,378

Flat from 2017

Net Income

Flat

$228,605

Flat from 2017

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$30M$20M$10M$0Assets 2017: $307,677Liabilities 2017: $79,072Net Assets 2017: $228,6052017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018Assets 2019: $736,148Liabilities 2019: $100,184Net Assets 2019: $635,9642019Assets 2020: $2,107,551Liabilities 2020: $0Net Assets 2020: $2,107,5512020Assets 2021: $4,621,617Liabilities 2021: $2,390,277Net Assets 2021: $2,231,3402021Assets 2022: $21,424,598Liabilities 2022: $18,783,956Net Assets 2022: $2,640,6422022Assets 2023: $22,834,625Liabilities 2023: $18,873,355Net Assets 2023: $3,961,2702023Assets 2024: $24,938,903Liabilities 2024: $19,125,705Net Assets 2024: $5,813,1982024

Highlighted filing

2018

Assets$0
Liabilities$0
Net Assets$0
Open 2018 Filing

Operations Trend

Revenue Growth39th percentile

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

$15M$10M$5.0M$0Revenue 2017: $2,220,983Expenses 2017: $1,992,378Net Income 2017: $228,6052017Revenue 2018: $2,220,983Expenses 2018: $1,992,378Net Income 2018: $228,6052018Revenue 2019: $3,545,389Expenses 2019: $3,138,030Net Income 2019: $407,3592019Revenue 2020: $5,265,911Expenses 2020: $3,794,324Net Income 2020: $1,471,5872020Revenue 2021: $6,866,563Expenses 2021: $6,742,774Net Income 2021: $123,7892021Revenue 2022: $8,975,459Expenses 2022: $8,543,174Net Income 2022: $432,2852022Revenue 2023: $11,375,599Expenses 2023: $10,054,971Net Income 2023: $1,320,6282023Revenue 2024: $14,715,038Expenses 2024: $12,852,553Net Income 2024: $1,862,4852024

Highlighted filing

2018

Revenue$2,220,983
Expenses$1,992,378
Net Income$228,605
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Jun 18, 2019
Return Version
2017v2.3
Gross Receipts
$2,382,619
Mission and Program Overview

Mission

Ocean academy charter school's mission is to provide elementary students with a rigorous curriculum in a safe nurturing environment, so that all students achieve their highest level of academic success. This will be accomplished through the implementation of a rigorous curriculum differentiated to meet the needs of each student within a climate of high expectations. To fulfill this mission, the administrative staff deliberately and thoughtfully works to improve instruction and student outcomes by growing and developing our staff, providing new resources and programs for out students and providing remedial instruction when needed.

The mission of ocean academy charter school is to provide elementary students with a rigorous curriculum in a safe nurturing environment, so that all students achieve their highest level of academic success. This will be accomplished through the implementation of a rigorous curriculum differentiated to meet the needs of each student within a climate of high expectations. At least 80% of students will meet or exceed proficiency standards on the state assessments.ocean academy charter school's "succint measurable mission statement" is centered on ensuring that students who attend the school will achieve academic success. To that end, the achievement results for at least 80% the school's students will meet or exceed the academic indictors and measures detailed in the performance framework published by the office of charter schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$0$127,683▲ $127,683
Cash and Non-Interest-Bearing Accounts$0$104,994▲ $104,994
Total Assets$0$307,677▲ $307,677
Other Assets Total$0$75,000▲ $75,000
Liabilities
Accounts Payable and Accrued Expenses-$44,436-
Other Liabilities$0$34,636▲ $34,636
Total Liabilities$0$79,072▲ $79,072
Net Assets / Fund Balance
Unrestricted Net Assets-$153,605-
Temporarily Rstr Net Assets-$75,000-
Total Net Assets Fund Balance$0$228,605▲ $228,605
Total Liabilities and Net Assets / Fund Balance$0$307,677▲ $307,677

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$75,000--
Compensation and Service Providers
Top Officer Pay72nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Valerie SmithExecutive DirectorFT$108,868$108,868
Lorna HasselHead of SchoolFT$107,644$107,644

Board Members and Trustees

NameTitle
Marshall WhitePresident
Ken SadaVice President
Aase Schults HareTrustee
Anita Raynes LepelstatTrustee
Jim MuzikowskiTrustee
Reverend Juan Angel Monge-santiagoTrustee
Roxanne MartinTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$2,209,911
Program Service Revenue
$11,072
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,658,095
Change in Net Assets
$228,605

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,220,983
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,220,983
Total Revenue per Form 990
$2,220,983
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,233,542
Other Expenses$758,836
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$650,765$391,750-$1,042,515
Occupancy-$233,002-$233,002
Other Employee Benefits$191,027--$191,027
Fees for Services Other$144,859--$144,859
Insurance-$48,454-$48,454
Interest$18,500--$18,500
Information Technology-$16,616-$16,616
Other Expenses$29,327$13,291-$13,291
All Other Expenses-$7,503-$7,503
Fees for Services Legal-$4,870-$4,870
Travel-$4,273-$4,273
Total Functional Expenses$1,166,644$825,734$0$1,992,378

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,992,378
Total Expenses per Audited Statements$1,992,378
Total Expenses per Form 990$1,992,378
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
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 Other Governments$34,636
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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, Section B, Line 11B

“A copy of the 990 is provided to all members of the governing body for review prior to filing the return.”

Form 990, Part VI, Section B, Line 12C

“The school reviews conflict disclosures as appropriate.”

Form 990, Part VI, Section B, Line 15

“The school board compares compensation of top school officials to those in other charter schools and school districts.”

Form 990, Part VI, Section C, Line 19

“These documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Ocean Academy Charter School
EIN
81-4885194
Phone
7325529849
Address
678 5TH STREET, LAKEWOOD, NJ 08701

Signing Officer

Name
Valerie Smith
Title
Executive Director
Phone
7325529849
Signed
2019-06-18
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Valerie Smith
Formed
2017
Legal Domicile
Nj
Voting Board Members
9
Independent Board Members
9
Employees
46
Volunteers
0

Preparer

Firm
Holman Frenia Allison Pc
Address
680 HOOPER AVE BUILDING B, TOMS RIVER, NJ 08753
Preparer
Craig R Johnson
Phone
7327971333
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt01992378
IRS990ScheduleE/ComplianceWithRevProc7550Ind01
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd00
IRS990ScheduleE/DiscriminateRaceAthltProgInd00
IRS990ScheduleE/DiscriminateRaceEducPlcyInd00
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd00
IRS990ScheduleE/DiscriminateRaceOtherActyInd00
IRS990ScheduleE/DiscriminateRaceSchsInd00
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd00
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd00
IRS990ScheduleE/GovernmentFinancialAidRcvdInd01
IRS990ScheduleE/GovernmentFinancialAidRvkdInd00
IRS990ScheduleE/MaintainCpyOfAllSolInd01
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd01
IRS990ScheduleE/MaintainRacialCompRecsInd01
IRS990ScheduleE/MaintainScholarshipsRecsInd01
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd01
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd01
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd01
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt0OCEAN ACADEMY CHARTER SCHOOL DOES NOT DISCRIMINATE ON THE BASIS OF RACE, RELIGION, GENDER, OR NATIONAL ORIGIN. STUDENTS ARE SELECTED FOR ADMISSION BY RANDOM LOTTERY WITH THE REMAINING APPLICANTS PLACED ON THE WAITING LIST. IT WILL BE MADE PERFECTLY CLEAR IN ALL ADVERTISING THAT ALL ARE WELCOMED TO APPLY; ECONOMICALLY DISADVANTAGED STUDENTS, STUDENTS WITH DISABILITIES, AND ENGLISH LANGUAGE LEARNERS. FOUNDERS WILL BE ADDRESSING SUNDAY SERVICES AT VARIOUS CHURCHES THAT HAVE LARGE POPULATIONS OF THE PUBLIC SCHOOL COMMUNITY ABOUT THE CHARTER AND HOW TO LEARN MORE ABOUT THE SCHOOL.
IRS990ScheduleE/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL RECEIVES FINANCIAL ASSISTANCE FROM FEDERAL, STATE AND LOCAL GOVERNMENTS.
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE E, PART I, LINE 3
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE E, PART I, LINE 6
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE 990 IS PROVIDED TO ALL MEMBERS OF THE GOVERNING BODY FOR REVIEW PRIOR TO FILING THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE SCHOOL REVIEWS CONFLICT DISCLOSURES AS APPROPRIATE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE SCHOOL BOARD COMPARES COMPENSATION OF TOP SCHOOL OFFICIALS TO THOSE IN OTHER CHARTER SCHOOLS AND SCHOOL DISTRICTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THESE DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd01
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt075000
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt0307677
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt0307677
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02209911
IRS990/TotalEmployeeCnt046
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0825734
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01166644
IRS990/TotalFunctionalExpensesGrp/TotalAmt01992378
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt079072
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt079072
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0228605
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01166644
IRS990/TotalProgramServiceRevenueAmt011072
IRS990/TotalReportableCompFromOrgAmt0216512
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt011072
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02220983
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0307677
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt04273
IRS990/TravelGrp/TotalAmt04273
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0153605
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0678 5TH STREET
IRS990/USAddress/CityNm0LAKEWOOD
IRS990/USAddress/StateAbbreviationCd0NJ
IRS990/USAddress/ZIPCd008701
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.OCEANACADEMYCHARTER.COM
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02019-02-21 02:37:17Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0VALERIE SMITH
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum07325529849
ReturnHeader/BusinessOfficerGrp/SignatureDt02019-06-18
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OCEAN ACADEMY CHARTER SCHOOL
ReturnHeader/Filer/BusinessNameControlTxt0OCEA
ReturnHeader/Filer/EIN0814885194
ReturnHeader/Filer/PhoneNum07325529849
ReturnHeader/Filer/USAddress/AddressLine1Txt0678 5TH STREET
ReturnHeader/Filer/USAddress/CityNm0LAKEWOOD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NJ
ReturnHeader/Filer/USAddress/ZIPCd008701
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0E707499928562D65A97FB47CE9D15529A449024E
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId0980AB0D8B7671B1CA9EA387F386CFB58CD50CAB5
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId02075642019135034ce34
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02019-05-15
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt0108.35.50.26
ReturnHeader/FilingSecurityInformation/IPDt02019-06-18
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0ED
ReturnHeader/FilingSecurityInformation/IPTm016:14:38
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0223480145
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HOLMAN FRENIA ALLISON PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0680 HOOPER AVE BUILDING B
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0TOMS RIVER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NJ
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd008753
ReturnHeader/PreparerPersonGrp/PhoneNum07327971333
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0CRAIG R JOHNSON
ReturnHeader/ReturnTs02019-06-18T16:14:40-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02017-07-01
ReturnHeader/TaxPeriodEndDt02018-06-30
ReturnHeader/TaxYr02017

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2018 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$2,220,983
Expenses
$1,992,378
Net income
$228,605
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$24.9$19.1$5.81$14.7$12.9$1.86
2023Detailed filing. Detailed filing data is available for this year.$22.8$18.9$3.96$11.4$10.1$1.32
2022Detailed filing. Detailed filing data is available for this year.$21.4$18.8$2.64$8.98$8.54$0.43
2021Detailed filing. Detailed filing data is available for this year.$4.62$2.39$2.23$6.87$6.74$0.12
2020Detailed filing. Detailed filing data is available for this year.$2.11$0.00$2.11$5.27$3.79$1.47
2019Detailed filing. Detailed filing data is available for this year.$0.74$0.10$0.64$3.55$3.14$0.41
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$2.22$1.99$0.23
2017Detailed filing. Detailed filing data is available for this year.$0.31$0.08$0.23$2.22$1.99$0.23