Ocean Academy Charter School
Nonprofit profile at a glance
- EIN
- 814885194
- IRS 990 coverage
- 2017–2024
- Forms available
- Form 990 2024
- Location
- Lakewood, NJ, USA
- Phone
- 7329876525
- Rating
- 80
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $15,313,877
- Expenses
- $15,865,761
- Assets
- $24,242,710
- Liabilities
- $18,981,396
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- ANITA LEPELSTAT (President)
- JIM MUZIKOWSKI (Vice President)
People named in this filing
- AASE MARIE HARE (Trustee)
- DAVID CORSO (Trustee)
- ROXANNE MARTIN (Trustee)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
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.
What it reported doing in 2024
Educational environment that supports student engagement and empowers all students to identify and utilize their own abilities and gifts.
Operating model
- Revenue model
- Donor-supported. 70% of the money available for current operations came from contributions and gifts.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - The filed numbers largely add up and a large share of available resources goes toward mission work. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.
Rating breakdown
- Financial Efficiency: 65
- Transparency & Controls: 90
- Accountability: 100
- Sustainability: 37
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 74.1%; rating input score 74
- Program expense ratio: 71.5%; rating input score 72
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 7 of 7 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -3.6%; rating input score 19; 19th percentile among comparable filings
- Total-asset coverage ratio: 1.53; rating input score 52; 52nd percentile among comparable filings
- Liabilities to assets ratio: 0.78; rating input score 14; 14th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings
Growth
- Program expense growth: 27% per year; rating input score 100; 94th percentile among comparable filings
- Revenue growth: 23.4% per year; rating input score 100; 94th percentile among comparable filings
- Asset growth: 34.6% per year; rating input score 100; 97th percentile among comparable filings
Details
- Where the money goes: 74.1% of revenue deployed · 71.5% of spending went to programs
- Governance: 8 of 8 board members independent · 7 of 7 filing controls reported
- Programs: 1 filed program accomplishment · $11.3M in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Highest-paid contractors: 4 contractors listed · $590K reported
- Consistency: 26 of 26 current checks pass
- Schedules: 4 filed schedules
- Filing history: 8 filing years from 2017 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Sustainability: Operating margin scored 19/100.
- Review — Sustainability: Total-asset coverage ratio scored 52/100.
- High — Sustainability: Liabilities to assets ratio scored 14/100.