Ocean Housing Development Ii Inc C/o Kimberly Veith Lcsw

Nonprofit profile at a glance

EIN
204852154
IRS 990 coverage
2013–2024
Forms available
Form 990 2024, Form 990-N 2007
Location
Bayville, NJ, USA
Phone
7323495550
Rating
65
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Housing Development, Construction, Management

Reported finances

Revenue
$79,485
Expenses
$81,306
Assets
$743,277
Liabilities
$25,656

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

Leadership & pay

16 people listed

Executive titles in this filing

  • KIMBERLY VEITH LCSW (PRES/CEO NON)

Highest reported compensation

  • KIMBERLY VEITH LCSW (PRES/CEO NON): $291,431 total reported compensation
  • KATHY GREENE (SECRETARY): $229,260 total reported compensation

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

Overview

Mission

To provide low income housing to disabled individuals

Operating model

Revenue model
Earned-program. 100% 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 most voting board members are independent. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 61
  • Transparency & Controls: 56
  • Accountability: 82
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 68.7%; rating input score 69
  • Program expense ratio: 67.2%; rating input score 67
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • 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; 64th percentile among comparable filings
  • Governance controls: 5 of 9 controls in place; rating input score 56
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.3%; rating input score 52; 52nd percentile among comparable filings
  • Total-asset coverage ratio: 9.14; rating input score 61; 61st percentile among comparable filings
  • Liabilities to assets ratio: 0.03; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 84%; rating input score 4; 4th percentile among comparable filings

Growth

  • Program expense growth: 4.7% per year; rating input score 100; 65th percentile among comparable filings
  • Revenue growth: 2.3% per year; rating input score 100; 69th percentile among comparable filings
  • Asset growth: 0.1% per year; rating input score 100; 41st percentile among comparable filings

Details

  • Where the money goes: 68.7% of revenue deployed · 67.2% of spending went to programs
  • Governance: 15 of 15 board members independent · 5 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $55K in reported program spending
  • Leadership: top reported pay $291K · 16 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 20 of 21 current checks pass · 1 finding to review
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 12 filing years from 2013 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • Review — Accountability: Governance controls: 4 of 9 not reported.
  • Review — Sustainability: Operating margin scored 52/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 4/100.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.