Civic Intelligence

Ocean City Community Development Corporation

990 • Fiscal year 2023 • EIN 85-1978578

Oct 01, 2022 to Sep 30, 2023 • Filed on Jan 18, 2024

Organization ProfileOCEANCITYHA.ORG
204 East 4th StreetOcean City, NJ 08226

(609) 399-1062

Siviq Scores

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

Liabilities / Assets

47th percentile

0.63x

Higher debt load relative to assets than 47% of similar nonprofits.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

40th percentile

1.80x

Higher debt load relative to revenue than 40% of similar nonprofits.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2023

Net Margin

97th percentile

99%

Higher net margin than 97% of similar nonprofits.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

47th percentile

$0

Higher top officer pay than 47% of similar nonprofits.

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

2023 filings • NTEE L21 • $1M-$5M nonprofits • Source year 2023

Asset Growth

100th percentile

3134%

Faster asset growth than 100% of similar nonprofits.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

99th percentile

2127%

Faster revenue growth than 99% of similar nonprofits.

2023 filings • NTEE L21 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$4,508,376

Up $4,368,985 (+3134%) from 2022

Net Assets

Up

$1,684,958

Up $1,560,886 (+1258%) from 2022

Liabilities

Up

$2,823,418

Up $2,808,099 (+18331%) from 2022

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin97th percentile

Revenue

Up

$1,570,557

Up $1,500,047 (+2127%) from 2022

Expenses

Down

$9,671

Down $1,100 (-10%) from 2022

Net Income

Up

$1,560,886

Up $1,501,147 (+2513%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth100th percentile

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

$6.0M$4.0M$2.0M$0Assets 2021: $65,366Liabilities 2021: $1,033Net Assets 2021: $64,3332021Assets 2022: $139,391Liabilities 2022: $15,319Net Assets 2022: $124,0722022Assets 2023: $4,508,376Liabilities 2023: $2,823,418Net Assets 2023: $1,684,9582023Assets 2024: $4,344,710Liabilities 2024: $2,665,094Net Assets 2024: $1,679,6162024

Highlighted filing

2023

Assets$4,508,376
Liabilities$2,823,418
Net Assets$1,684,958
Open 2023 Filing

Operations Trend

Revenue Growth99th percentile

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

$2.0M$1.5M$1.0M$500K$0-$500KRevenue 2021: $64,441Expenses 2021: $108Net Income 2021: $64,3332021Revenue 2022: $70,510Expenses 2022: $10,771Net Income 2022: $59,7392022Revenue 2023: $1,570,557Expenses 2023: $9,671Net Income 2023: $1,560,8862023Revenue 2024: $102,614Expenses 2024: $107,956Net Income 2024: -$5,3422024

Highlighted filing

2023

Revenue$1,570,557
Expenses$9,671
Net Income$1,560,886
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Oct 1, 2022 to Sep 30, 2023
Signed
Jan 18, 2024
Return Version
2022v5.0
Gross Receipts
$1,570,557
Mission and Program Overview

Mission

To develop affordable rental housing for fow income families

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts-$1,156,404-
Other Notes and Loans Receivable, Net$1,330$327▼ $1,003
Total Assets$139,390$4,508,376▲ $4,368,986
Other Assets Total$138,060$3,351,645▲ $3,213,585
Liabilities
Mortgage Notes Payable Secured by Investment Property-$2,205,047-
Other Liabilities$8,504$618,371▲ $609,867
Accounts Payable and Accrued Expenses$6,814--
Total Liabilities$15,318$2,823,418▲ $2,808,100
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$124,072$1,684,958▲ $1,560,886
Total Net Assets Fund Balance$124,072$1,684,958▲ $1,560,886
Total Liabilities and Net Assets / Fund Balance$139,390$4,508,376▲ $4,368,986

Asset Categories

AssetBook ValueDepreciationBasis
Other Assets Org$3,351,645--
Compensation and Service Providers
Top Officer Pay47th percentile

Board Members and Trustees

NameTitle
Robert BarrChairman of
Robert Scott HallidayVice Chairma
Beverly MccallCommissioner
Brian BroadleyCommissioner
Patricia Miles-jacksonCommissioner
Patrick MummanCommissioner
Robert HenryCommissioner
Jacqueline JonesSecretary/tr
Revenue and Support

Revenue Composition

Contributions and Grants
$1,570,329
Program Service Revenue
$0
Investment Income
$228
Other Revenue
$0
Change in Net Assets
$1,560,886
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,671
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Accounting$4,400--$4,400
Insurance$3,711--$3,711
Advertising$1,560--$1,560
Total Functional Expenses$9,671$0$0$9,671
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
Accrued Liability - Cip$597,196
Due to Ocean City Housing Authority$14,675
Accrued Auditing$6,500
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
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 11B

“Form 990 after completion is provided to ocean city community development corporation's governing body where the chairman reviews it with the board.”

Form 990, Page 6, Part VI, Line 12C

“Conflict of interest policy is provided to ocean city community development corporation's potenial employees and board members and are reviewed with them at that time.”

Form 990, Page 6, Part VI, Line 19

“Ocean city community development corporation encourages public review of all policies and procedures not having to do with personnel matters. Financial reports and governing documents are available upon request and posted on organization's website.”

Filing and Contact Details

Filer

Filer Name
Ocean City Community Development
EIN
85-1978578
Phone
6093991062
Address
204 EAST 4TH STREET, OCEAN CITY, NJ 08226

Signing Officer

Name
Jacqueline Jones
Title
Secretary/treasurer
Phone
6093991062
Signed
2024-01-18

Organization Details

Principal Officer
Robert Barr
Formed
2017
Legal Domicile
Nj
Voting Board Members
7
Independent Board Members
7
Employees
0

Preparer

Firm
Linda M Avena CPA Pa
Address
2581 E CHESTNUT AVE SUITE B, VINELAND, NJ 08361
Preparer
Linda M Cavallo
Phone
8566968000
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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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ReturnHeader/ReturnTs02024-01-22T10:48:33-05:00
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ReturnHeader/TaxPeriodBeginDt02022-10-01
ReturnHeader/TaxPeriodEndDt02023-09-30
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,508,376
Liabilities
$2,823,418
Net assets
$1,684,958
Revenue
$1,570,557
Expenses
$9,671
Net income
$1,560,886
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.34$2.67$1.68$0.10$0.11$0.01
2023Detailed filing. Detailed filing data is available for this year.$4.51$2.82$1.68$1.57$0.01$1.56
2022Detailed filing. Detailed filing data is available for this year.$0.14$0.02$0.12$0.07$0.01$0.06
2021Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.06$0.06$0.00$0.06