Overview
What is Ocean City Chamber Of Commerce Foundation Inc?
Ocean City Chamber of Commerce Foundation Inc is a charitable organization, headquartered at 12320 Ocean Gateway, Ocean City, Maryland. Its primary mission is to stimulate, encourage, and boost the prosperity of the Ocean City business community. Additionally, it focuses on enhancing the workforce's educational development, improving the aesthetic appeal and environmental preservation of the Ocean City area, and fostering the growth of the Ocean City workforce. As part of its initiatives, the Foundation offers a scholarship program to local residents, aiming to alleviate the burden of tuition fees at post-secondary institutions.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 67%, earning it a Two-Star out of Four Star rating. This rating reflects the organization’s performance in accountability and finance, highlighting both strengths and areas needing improvement.
The Ocean City Chamber of Commerce Foundation Inc demonstrates strong governance with a fully independent board and no material diversion of assets, scoring perfectly in these categories. However, the organization has received lower marks due to missing policies on whistleblower protection and document retention, which are essential for transparency and accountability.
Despite a reasonable program expense ratio of 59.55%, there are concerns about the overall financial management reflected in the lower financial scoring. Stakeholders may want to monitor these areas to ensure that the foundation is effectively managing its resources and adhering to best practices in nonprofit governance.
This AI summary has been generated from information found on Charity Navigator.
Is Ocean City Chamber Of Commerce Foundation Inc legitimate?
Ocean City Chamber Of Commerce Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ocean City Chamber Of Commerce Foundation 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: $9,876
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What is the mission statement of Ocean City Chamber Of Commerce Foundation Inc?
The Ocean City Chamber Of Commerce Foundation Inc, established with a charitable purpose, aims to encourage, foster, and promote the growth and development of local businesses, enhance the workforce's educational development, contribute to environmental protection and beautification, and foster the growth and development of the workforce. The organization's activities are geared towards fostering a thriving business community and improving the region's workforce, thereby enhancing its overall development. A scholarship program is available to local residents to help offset the cost of post-secondary education.
Who is the CEO of Ocean City Chamber Of Commerce Foundation Inc?
Stefanie Rider is the Director of Ocean City Chamber Of Commerce Foundation Inc.
What is the revenue of Ocean City Chamber Of Commerce Foundation Inc?
Ocean City Chamber Of Commerce Foundation Inc's revenue in 2022 was $37,947.
Who are the executives of Ocean City Chamber Of Commerce Foundation Inc and what are their salaries?
Here are 10 key members and their salaries:
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Where can I find the form 990 for Ocean City Chamber Of Commerce Foundation Inc?
Ocean City Chamber Of Commerce Foundation Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ocean City Chamber Of Commerce Foundation Inc
The Ocean City Chamber of Commerce Foundation Inc, established with a charitable purpose, works towards encouraging, fostering, and promoting the growth and development of the Ocean City business community. This nonprofit organization is also committed to advancing the educational development of the workforce, preserving the beauty of the Ocean City area, and safeguarding its environment. Additionally, the foundation focuses on the growth and development of the Ocean City workforce. To achieve these objectives, the foundation offers a scholarship program that local residents can apply for to help offset the cost of their tuition at post-secondary institutions. This program aims to support the educational development of the workforce, contributing to the overall growth and prosperity of the Ocean City community.
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Impact
August, 2024
The Ocean City Chamber Of Commerce Foundation Inc's impact is substantial in promoting the growth and development of the Ocean City business community, fostering educational opportunities for the workforce, enhancing the beautification and environmental protection of the Ocean City area, and supporting the growth of the workforce in Ocean City. Through their scholarship program, they provide financial assistance to area residents pursuing higher education, helping to offset the costs of tuition at post-secondary institutions. Their focus on education aligns with their mission to support the community and contribute to its long-term prosperity.
This information is meant to be a general summary of Ocean City Chamber Of Commerce Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $12,607
- Program Service Revenue: $16,573
- Gross Receipts: $40,745
Assets and Liabilities:
- Total Assets: $413,977
- Total Liabilities: $0
- Net Assets: $413,977
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CHRISTMAS SPIRIT CAMPAIGN
Revenue
$16,573
Organization Details
Founding Year
2010
Phone
(410) 213-0144Principal Officer
Stefanie Rider
Main Address
12320 OCEAN GATEWAY, OCEAN CITY, MD, 21842
NTEE Category
Code: B82 - Education
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