Ocean of Love Inc

Nonprofit profile at a glance

EIN
222940034
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Toms River, NJ, USA
Phone
7322703500
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Family Services

Reported finances

Revenue
$602,313
Expenses
$619,205
Assets
$524,171
Liabilities
$4,300

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

Leadership & pay

11 people listed

Executive titles in this filing

  • LINDA PASCARELLA (President)
  • MIKE LITTLE (Vice President)
  • DAVE KALINOWSKI (Vice President)

People named in this filing

  • LINDA PASCARELLA (President)
  • THERESA SEGUI (Director)
  • MIKE LITTLE (Vice President)

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

Support children with cancer in ocean county. Provide financial assistance

Operating model

Revenue model
Donor-supported. 100% 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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

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: 89
  • Transparency & Controls: 90
  • Accountability: 12
  • Sustainability: 42
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 93.1%; rating input score 93
  • Program expense ratio: 90.5%; rating input score 91
  • Fundraising efficiency: $20.25 raised per $1 spent on fundraising; rating input score 59; 59th 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: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -2.8%; rating input score 28; 28th percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 70; 70th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -3% per year; rating input score 0; 10th percentile among comparable filings
  • Revenue growth: -1.5% per year; rating input score 0; 10th percentile among comparable filings
  • Asset growth: -1.5% per year; rating input score 0; 13th percentile among comparable filings

Details

  • Where the money goes: 93.1% of revenue deployed · 90.5% of spending went to programs
  • Governance: 0 of 10 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $561K in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 11 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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 — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 59/100.
  • High — Sustainability: Operating margin scored 28/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.