Ocean City Arts Center

Charity Navigator Rating: 69% (Two-Star out of Four Star rating)

The Ocean City Arts Center has received a moderate rating of 69%, reflecting some strengths in its financial management but notable weaknesses in governance and accountability. The organization maintains a high program expense ratio of 87.01%, indicating that a significant portion of its expenses is directed toward its programs. Additionally, it has demonstrated sound financial practices, with no material diversion of assets reported and a favorable liabilities-to-assets ratio of 0.44%.

However, the organization faces challenges in its governance structure, evidenced by a complete lack of independent board members. This raises potential concerns about oversight and conflict of interest, particularly since key policies such as conflict of interest and whistleblower protections are missing. Furthermore, the absence of a publicly posted tax form on its website limits transparency, which is critical for fostering trust with donors and stakeholders.

Overall, while the Ocean City Arts Center shows a commitment to its programming, its governance practices require significant improvement to enhance accountability. Addressing these weaknesses could strengthen the organization’s reputation and effectiveness in the community.

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

Ocean City Arts Center is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ocean City Arts Center 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: $39,795
Professional Fundraising Fees: $0
Other Salaries and Wages: $248,549

For more financial information, click here

Official website here: www.oceancityartscenter.org