Overview
What is Ocean State Charity Events Inc?
Ocean State Charity Events Inc, situated in Coventry, Rhode Island, is a small nonprofit organization with a single employee. Their primary activity involves organizing and hosting charity events, including sales and auctions of sports and other memorabilia. By sourcing and auctioning off these unique items, they aim to enhance the overall event experience and provide additional financial support to the participating charity or event. This revenue is given as charitable event support, contributing to their mission of making a positive impact in their community.
Official website here: www.oceanstatecharityevents.org/
What are the reviews and ratings of this charity?
Charity Navigator Rating: 31%
Ocean State Charity Events Inc has received a Zero-Star out of Four Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The charity's overall score reflects a poor performance primarily in the Accountability & Finance category, with a notably high liabilities to assets ratio of 440.40%, which raises red flags about its financial stability. Additionally, the charity lacks independent board members, which is critical for governance and oversight.
Despite these financial challenges, the organization has shown strengths in community engagement and constituent feedback, scoring an impressive 100 out of 100 in several areas related to feedback collection and utilization. This suggests that while the charity may struggle with financial management, it effectively engages and listens to the community it serves, which is a positive aspect of its operations.
However, the absence of essential governance policies, such as a conflict of interest policy and a whistleblower policy, further highlights the need for improvement in accountability measures. Overall, while the charity excels in community relations, significant improvements are needed in financial management and governance practices to ensure long-term sustainability and trustworthiness.
This AI summary has been generated from information found on Charity Navigator.
Is Ocean State Charity Events Inc legitimate?
Ocean State Charity Events Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Ocean State Charity Events 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: $5,200
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.oceanstatecharityevents.org/
What is the mission statement of Ocean State Charity Events Inc?
Ocean State Charity Events Inc's mission is centered around organizing charity events and online sales of memorabilia. The organization sources and auctions off collectibles, such as sports memorabilia, to enhance these events and provide additional financial support to the participating charity or event. This charitable event support is paid out as a percentage of the auction's total earnings. In essence, Ocean State Charity Events Inc aims to raise funds for various charitable causes through unique and engaging events, enriching the overall experience for attendees while making a significant impact on the chosen charity.
Official website here: www.oceanstatecharityevents.org/
Who is the CEO of Ocean State Charity Events Inc?
Edmund Egan is the President of Ocean State Charity Events Inc.
Official website here: www.oceanstatecharityevents.org/
What is the revenue of Ocean State Charity Events Inc?
Ocean State Charity Events Inc's revenue in 2022 was $206,421.
Official website here: www.oceanstatecharityevents.org/
Who are the executives of Ocean State Charity Events Inc and what are their salaries?
The average compensation at Ocean State Charity Events Inc during 2022 was $5,200. There is 1 employee at Ocean State Charity Events Inc.
There is 1 key member and their salary:
- Compensation: $5,200
- Related: $0
- Other: $0
Official website here: www.oceanstatecharityevents.org/
Where can I find the form 990 for Ocean State Charity Events Inc?
Ocean State Charity Events Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.oceanstatecharityevents.org/
Learn more at the official website: www.oceanstatecharityevents.org/
Mission Statement of Ocean State Charity Events Inc
Ocean State Charity Events Inc, a nonprofit organization, is dedicated to raising funds for various charities through the sale and auction of memorabilia. This mission is achieved by sourcing and showcasing unique items such as sports memorabilia at charity events. By enhancing these events with these exclusive items, Ocean State Charity Events Inc not only adds excitement but also provides an additional financial boost to the participating charity or event. This charitable event support is paid out as a result of the memorabilia sales, contributing significantly to the cause's overall fundraising efforts.
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Impact
October, 2024
Ocean State Charity Events Inc significantly enhances charitable events through the sale and auction of sports and other memorabilia. By sourcing unique items, the organization elevates the overall experience of charity events, making them more engaging for attendees and increasing participation. This approach not only attracts more donations but also directly benefits the various charities involved, providing them with additional financial support. The impact is felt throughout the community in Coventry, RI, as funds raised contribute to a wide range of charitable causes, promoting philanthropy and community goodwill.
This information is meant to be a general summary of Ocean State Charity Events 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.
- Program Service Revenue: $193,921
- Gross Receipts: $206,421
Assets and Liabilities:
- Total Assets: $6,787
- Total Liabilities: $29,890
- Net Assets: -$23,103
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM INCOME
Revenue
$193,921
Organization Details
Founding Year
2019
Phone
(401) 602-8548Principal Officer
Edmund Egan
Main Address
47 COBBLESTONE TERRACE, COVENTRY, RI, 02816
NTEE Category
Code: T02 - Philanthropy
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