Ocean Bay Community Development Corp

Nonprofit profile at a glance

EIN
841622031
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Arverne, NY, USA
Phone
7189458640
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Urban, Community Economic Development

Reported finances

Revenue
$1,555,769
Expenses
$1,810,577
Assets
$719,999
Liabilities
$582,075

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

5 people listed

Highest reported compensation

  • EBONY BEATY (Executive Dir.): $104,662 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Ocean Bay Community Development Corporation (Ocean Bay CDC) mission is to revitalize the Rockaway peninsula and to improve the quality of life and socioeconomic status of its residents.

What it reported doing in 2024

OBCDC was founded as an information and referral organization to help NYCHA housing families identify and access essential services. As demand increased and providers remained scarce, we established direct service programs, growing into a vital hub for innovative initiatives in Far Rockaway. The Older Adult Center @ Arverne culminates our older adult services, aligning with our mission to create opportunities for socio-economic advancement, fostering a healthier, safer, more prosperous, educated, and revitalized community. We envision this program as a cornerstone for the aging population, anchoring community revitalization efforts.The FEC grant finances a team of four staff members offering essential services to Rockaway and Broad Channel residents in NYC. The Center enhances participants' well-being and quality of life through engaging activities. The Director oversees services, coordinates the Parent Advisory Committee, and collaborates with local providers and OBCDC staff to optimize resources. The FEC bridges the gap between West and East end residents, promoting unity and shared resources.The HUD ROSS grant enables Service Coordinators to deliver referral services to New York public housing residents, conducting case management through in-person, virtual, or phone sessions. Persistent needs include food insecurity, medical transportation, and workforce development, while rising rental arrears underscore the importance of financial literacy and banking workshops. Enhanced social media outreach now covers the entire Rockaway peninsula, addressing the digital divide among NYCHA residents.

Operating model

Revenue model
Grant-funded. 88% of the money available for current operations came from government grants.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 92
  • Accountability: 79
  • Sustainability: 18
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.6%; rating input score 92
  • Program expense ratio: 78.7%; rating input score 79
  • Fundraising efficiency: $94.59 raised per $1 spent on fundraising; rating input score 86; 86th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -16.4%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.4; rating input score 19; 19th percentile among comparable filings
  • Liabilities to assets ratio: 0.81; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 5.8%; rating input score 51; 51st percentile among comparable filings

Growth

  • Program expense growth: 29.1% per year; rating input score 100; 89th percentile among comparable filings
  • Revenue growth: 13.9% per year; rating input score 100; 76th percentile among comparable filings
  • Asset growth: 13.4% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 91.6% of revenue deployed · 78.7% of spending went to programs
  • Governance: 4 of 4 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.4M in reported program spending
  • Leadership: top reported pay $105K · 5 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 4 filed schedules · includes major donors
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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.

  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Sustainability: Total-asset coverage ratio scored 19/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.
  • Review — Sustainability: Officer compensation ratio scored 51/100.