Ocean City 2406 Inc

Charity Navigator Rating: 70% (Two-Star out of Four Stars)

Ocean City 2406 Inc has received a Two-Star rating from Charity Navigator, indicating a moderate level of accountability and financial health. The charity scores well in areas such as board independence and conflict of interest policies, with all board members being independent and comprehensive policies in place for governance. However, the overall score reflects concerns about financial management, particularly noted in the organization's liabilities to assets ratio.

The strengths of Ocean City 2406 Inc include a fully independent board and strong financial oversight mechanisms. The organization has made strides in ensuring that critical policies are in place, such as a conflict of interest policy and a whistleblower policy. Additionally, the presence of an audit and oversight committee strengthens the trust in its financial practices.

On the downside, the charity's financial performance raises some red flags, especially with a high liabilities to assets ratio and a lower program expense ratio. These factors suggest that a significant portion of its resources may be tied up in liabilities rather than directly supporting its programs. Furthermore, the absence of the tax form on the nonprofit's website could limit transparency and accountability efforts.

This AI summary has been generated from information found on Charity Navigator.

Ocean City 2406 Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ocean City 2406 Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.

Heare are some key statistics you may want to consider:

Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $271,884

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Official website here: www.umcommunities.org