Ocean Breeze School Inc

Nonprofit profile at a glance

EIN
842910275
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Marblehead, MA, USA
Phone
7816057611
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Kindergarten, Preschool, Nursery School, Early Admissions

Reported finances

Revenue
$565,580
Expenses
$541,479
Assets
$135,941
Liabilities
$0

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

Leadership & pay

2 people listed

Executive titles in this filing

  • KASANDRA CORREALE (VICE PRESIDENT)

Highest reported compensation

  • KASANDRA CORREALE (VICE PRESIDENT): $81,552 total reported compensation

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

Overview

Mission

The education of children for ages ranging from 8 months to 5 years of age.

What it reported doing in 2024

Educational services provided to children ranging from 8 months of age to 5 years of age. The primary objective was to provide basic learning skills through hands-on activities.

Operating model

Revenue model
Earned-program. 92% of the money available for current operations came from fees and other program revenue.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 90
  • Accountability: 30
  • Sustainability: 40
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 77.7%; rating input score 78
  • Program expense ratio: 81.2%; rating input score 81
  • Fundraising efficiency: Limited

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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 33.3%; rating input score 33; 10th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 4.3%; rating input score 48; 48th percentile among comparable filings
  • Total-asset coverage ratio: 0.25; rating input score 12; 12th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 15.1%; rating input score 23; 23rd percentile among comparable filings

Growth

  • Program expense growth: 26.6% per year; rating input score 100; 88th percentile among comparable filings
  • Revenue growth: 14.9% per year; rating input score 100; 78th percentile among comparable filings
  • Asset growth: 39.4% per year; rating input score 100; 94th percentile among comparable filings

Details

  • Where the money goes: 77.7% of revenue deployed · 81.2% of spending went to programs
  • Governance: 1 of 3 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $440K in reported program spending
  • Leadership: top reported pay $82K · 2 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • 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.

  • Moderate — Accountability: Independent voting board scored 33/100.
  • High — Accountability: Governance controls: 6 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 12/100.
  • Moderate — Sustainability: Operating margin scored 48/100.
  • High — Sustainability: Officer compensation ratio scored 23/100.