Ocean Academy Charter School
- Assets
- $4.6m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 72
- Location
- Lakewood, NJ
- Founding
- 07/2017
- Data as of
- 06/2021
- EIN
- 81-4885194
Organization Overview
Ocean Academy Charter School is located in Lakewood, NJ. The organization was established in 2017. As of 06/2021, Ocean Academy Charter School employed 72 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocean Academy Charter School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, Ocean Academy Charter School generated $6.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 32.6% each year . All expenses for the organization totaled $6.7m during the year ending 06/2021. While expenses have increased by 35.6% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
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.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL ENVIRONMENT THAT SUPPORTS STUDENT ENGAGEMENT AND EMPOWERS ALL STUDENTS TO IDENTIFY AND UTILIZE THEIR OWN ABILITIES AND GIFTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marshall White President | Officer | 5 | $0 |
Thomas A D'ambola Chairman | Officer | 5 | $0 |
Anita Lepelstat Vice President | Officer | 1 | $0 |
Sharon Hollander Trustee | Trustee | 1 | $0 |
Aase Schults Hare Trustee | Trustee | 1 | $0 |
Reverend Juan Angel Monge-Sant Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $2,090,320 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,748,433 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $6,838,753 |
| Total Program Service Revenue | $27,810 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,866,563 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,751,708 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,209,359 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $47,592 |
| Fees for services: Accounting | $15,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $113,717 |
| Royalties | $0 |
| Occupancy | $839,236 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,796 |
| Insurance | $81,979 |
| All other expenses | $235,858 |
| Total functional expenses | $6,742,774 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,836,572 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $507,683 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,206 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $142,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,131,256 |
| Total assets | $4,621,617 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $78,342 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,311,935 |
| Total liabilities | $2,390,277 |
| Net assets without donor restrictions | $2,004,496 |
| Net assets with donor restrictions | $226,844 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,621,617 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Ocean Academy Charter School has recieved totaling $224,772.
| Awarding Organization | Amount |
|---|---|
New Jersey Charter Public Schools Association A New Jersey Non-Profi Hamilton, NJ PURPOSE: CSP GRANT | $224,772 |
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Redhill Foundation-Sam And Jean Rothberg Family Charitable Trust New York, NY | $42,979,654 | $7,387,635 |
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