Civic Intelligence

Ocean Academy Charter School

990 • Fiscal year 2020 • EIN 81-4885194

Jul 01, 2019 to Jun 30, 2020 • Filed on May 17, 2021

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

(732) 987-6525

Siviq Scores

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

Liabilities / Assets

7th percentile

0.00x

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

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

Liabilities / Revenue

7th percentile

0.00x

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

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

Net Margin

81st percentile

28%

Higher net margin than 81% of similar nonprofits.

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

Top Officer Pay

21st percentile

$0

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

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

Asset Growth

97th percentile

186%

Faster asset growth than 97% of similar nonprofits.

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

Revenue Growth

87th percentile

49%

Faster revenue growth than 87% of similar nonprofits.

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

Balance Sheet
Liabilities / Assets7th percentile

Assets

Up

$2,107,551

Up $1,371,403 (+186%) from 2019

Net Assets

Up

$2,107,551

Up $1,471,587 (+231%) from 2019

Liabilities

Down

$0

Down $100,184 (-100%) from 2019

Revenue And Expenses
Liabilities / Revenue7th percentileNet Margin81st percentile

Revenue

Up

$5,265,911

Up $1,720,522 (+49%) from 2019

Expenses

Up

$3,794,324

Up $656,294 (+21%) from 2019

Net Income

Up

$1,471,587

Up $1,064,228 (+261%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth97th 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: $307,677Liabilities 2018: $79,072Net Assets 2018: $228,6052018Assets 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

2020

Assets$2,107,551
Liabilities$0
Net Assets$2,107,551
Open 2020 Filing

Operations Trend

Revenue Growth87th 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

2020

Revenue$5,265,911
Expenses$3,794,324
Net Income$1,471,587
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
May 17, 2021
Return Version
2019v5.0
Gross Receipts
$5,265,911
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.

To provide elementary students with a high quality and student-centered education in a safe, nurturing, and challenging environment so that all students achieve their highest level of academic success.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$459,087$1,257,816▲ $798,729
Cash and Non-Interest-Bearing Accounts$202,061$675,375▲ $473,314
Land, Buildings, and Equipment, Net-$99,360-
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$736,148$2,107,551▲ $1,371,403
Other Assets Total$75,000$75,000→ $0
Liabilities
Accounts Payable and Accrued Expenses$99,370--
Other Liabilities$814--
Total Liabilities$100,184$0▼ $100,184
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$560,964$1,904,156▲ $1,343,192
Net Assets With Donor Restrictions$75,000$203,395▲ $128,395
Total Net Assets Fund Balance$635,964$2,107,551▲ $1,471,587
Total Liabilities and Net Assets / Fund Balance$736,148$2,107,551▲ $1,371,403

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$61,360$3,229$64,589
Equipment$38,000$2,000$40,000
Compensation and Service Providers
Top Officer Pay21st percentile

Board Members and Trustees

NameTitle
Marshall WhitePresident
THOMAS A D'AMBOLAVice President
Aase Schults HareTrustee
Anita LepelstatTrustee
Jeanmarie LammeTrustee
Jim MuzikowskiTrustee
Reverend Juan Angel Monge-santTrustee
Roxanne MartinTrustee
Sharon HollanderTrustee
Revenue and Support

Revenue Composition

Contributions and Grants
$5,244,530
Program Service Revenue
$21,381
Investment Income
$0
Other Revenue
$0
All Other Contributions
$4,043,105
Change in Net Assets
$1,471,587

Audited Revenue Reconciliation

Revenue per Audited Statements
$5,265,911
Total Revenue per Audited Statements
$5,265,911
Total Revenue per Form 990
$5,265,911
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$2,479,277
Other Expenses$1,315,047
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,277,882$658,844-$1,936,726
Occupancy-$554,549-$554,549
Other Employee Benefits$542,551--$542,551
Insurance-$76,428-$76,428
All Other Expenses$44,183--$44,183
Other Expenses$21,865$38,081-$38,081
Information Technology-$37,354-$37,354
Fees for Services Legal-$27,383-$27,383
Fees for Services Accounting-$12,500-$12,500
Depreciation Depletion$5,229--$5,229
Total Functional Expenses$2,224,083$1,570,241$0$3,794,324

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,794,324
Total Expenses per Audited Statements$3,794,324
Total Expenses per Form 990$3,794,324
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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
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 11B: Form 990 Review Process

“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, Line 12C: Explanation of Monitoring and Enforcement of Conflicts

“The school reviews conflict disclosures as appropriate.”

Form 990, Part VI, Line 15B: Compensation Review and Approval Process for Officers and Key Employees

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

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“These documents are made available upon request.”

Filing and Contact Details

Filer

Filer Name
Ocean Academy Charter School
EIN
81-4885194
Phone
7329876525
Address
678 5TH STREET, LAKEWOOD, NJ 08701

Signing Officer

Name
Marshall White
Title
President
Signed
2021-05-17
Discuss with paid preparer
Yes

Organization Details

Legal Domicile
Nj
Voting Board Members
9
Independent Board Members
9
Employees
53

Preparer

Firm
Jump Perry and Company LLP
Address
12 Lexington Avenue, Toms River, NJ 08753
Preparer
Kathryn Perry CPA
Phone
7322407377
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IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt00
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/Desc0CHILD CARE
IRS990/ProgramServiceRevenueGrp/Desc1FOOD SERVICES
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt019561
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt11820
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt019561
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt11820
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt03514663
IRS990/PYExcessBenefitTransInd0false
IRS990/PymtTravelEntrtnmntPubOfclGrp/TotalAmt00
IRS990/PYOtherExpensesAmt01273732
IRS990/PYProgramServiceRevenueAmt030726
IRS990/PYRevenuesLessExpensesAmt0407359
IRS990/PYSalariesCompEmpBnftPaidAmt01864298
IRS990/PYTotalExpensesAmt03138030
IRS990/PYTotalRevenueAmt03545389
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvblFromDisqualifiedPrsnGrp/EOYAmt00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt01471587
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
IRS990ScheduleA/SchoolInd0X
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt038000
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02000
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt040000
IRS990ScheduleD/ExpensesSubtotalAmt03794324
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt061360
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt03229
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt064589
IRS990ScheduleD/RevenueSubtotalAmt05265911
IRS990ScheduleD/TotalBookValueLandBuildingsAmt099360
IRS990ScheduleD/TotalExpensesPerForm990Amt03794324
IRS990ScheduleD/TotalRevenuePerForm990Amt05265911
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt05265911
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03794324
IRS990ScheduleE/ComplianceWithRevProc7550Ind0true
IRS990ScheduleE/DiscriminateRaceAdmissPlcyInd0false
IRS990ScheduleE/DiscriminateRaceAthltProgInd0false
IRS990ScheduleE/DiscriminateRaceEducPlcyInd0false
IRS990ScheduleE/DiscriminateRaceEmplmFcultyInd0false
IRS990ScheduleE/DiscriminateRaceOtherActyInd0false
IRS990ScheduleE/DiscriminateRaceSchsInd0false
IRS990ScheduleE/DiscriminateRaceStdntsRghtsInd0false
IRS990ScheduleE/DiscriminateRaceUseOfFcltsInd0false
IRS990ScheduleE/GovernmentFinancialAidRcvdInd0true
IRS990ScheduleE/GovernmentFinancialAidRvkdInd0false
IRS990ScheduleE/MaintainCpyOfAllSolInd0true
IRS990ScheduleE/MaintainCpyOfBrochuresEtcInd0true
IRS990ScheduleE/MaintainRacialCompRecsInd0true
IRS990ScheduleE/MaintainScholarshipsRecsInd0true
IRS990ScheduleE/NondiscriminatoryPolicyStmtInd0true
IRS990ScheduleE/PlcyPblczdViaBroadcastMediaInd0true
IRS990ScheduleE/PolicyStmtInBrochuresEtcInd0true
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, Line 3 - Racially Nondiscriminatory Policy Publicized
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule E, Line 4 - Explanation of Records and Materials Not Maintained
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule E, Line 5 - Explanation of Organization Discrimination by Race
IRS990ScheduleE/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
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, Line 11b: Form 990 Review Process
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
IRS990/SchoolOperatingInd0true
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0736148
IRS990/TotalAssetsEOYAmt02107551
IRS990/TotalAssetsGrp/BOYAmt0736148
IRS990/TotalAssetsGrp/EOYAmt02107551
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt05244530
IRS990/TotalEmployeeCnt053
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt01570241
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt02224083
IRS990/TotalFunctionalExpensesGrp/TotalAmt03794324
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0100184
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt0100184
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0635964
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02107551
IRS990/TotalProgramServiceExpensesAmt02224083
IRS990/TotalProgramServiceRevenueAmt021381
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt021381
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt05265911
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0736148
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02107551
IRS990/TravelGrp/TotalAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
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/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MARSHALL WHITE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/SignatureDt02021-05-17
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0OCEAN ACADEMY CHARTER SCHOOL
ReturnHeader/Filer/BusinessNameControlTxt0OCEA
ReturnHeader/Filer/EIN0814885194
ReturnHeader/Filer/PhoneNum07329876525
ReturnHeader/Filer/USAddress/AddressLine1Txt0678 5TH STREET

Document Assets

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Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,107,551
Liabilities
$0
Net assets
$2,107,551
Revenue
$5,265,911
Expenses
$3,794,324
Net income
$1,471,587
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.$0.31$0.08$0.23$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