Ocean Charter School
- Assets
- $59.2m
- Revenue
- $8.1m
- Investments
- $0.0
- Employees
- 111
- Location
- Los Angeles, CA
- Founding
- 04/2004
- Data as of
- 06/2022
- EIN
- 02-0612690
Organization Overview
Ocean Charter School is located in Los Angeles, CA. The organization was established in 2004. According to its NTEE Classification (B29) the organization is classified as: Charter Schools, under the broad grouping of Education and related organizations. As of 06/2022, Ocean Charter School employed 111 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocean Charter School is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Ocean Charter School generated $8.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $7.9m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO OPERATE A CALIFORNIA PUBLIC CHARTER SCHOOL FOR GRADES TK-8TH GRADE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OCEAN CHARTER SCHOOL (OCS) IS A PUBLIC CHARTER SCHOOL SERVING APPROXIMATELY 547 STUDENTS IN GRADES TK THROUGH 8. OCS CURRICULUM IS BUILT ON A FOUNDATION OF CREATIVITY AND SELF-CONFIDENCE, AND GROWS WITH THE CHILD TO BALANCE IMAGINATION, CRITICAL THINKING AND ACADEMIC EXCELLENCE. THIS FOUNDATION, COMBINED WITH A FOCUS ON ECOLOGICAL AND SOCIAL RESPONSIBILITY, NURTURES A SENSE OF DELIGHT AND WONDER ABOUT THE WORLD, AS WELL AS RESPECT FOR NATURE AND HUMANITY. OCS GOAL IS TO GRADUATE STUDENTS WHO WILL POSITIVELY SHAPE OCS CULTURE, RATHER THAN MERELY REFLECTING IT. OCS CURRICULUM IS DESIGNED TO EMPOWER EACH STUDENT WITH THE KNOWLEDGE THAT SHE OR HE MATTERS AS AN INDIVIDUAL AND SHAPES NOT ONLY HER OR HIS OWN LIFE, BUT ULTIMATELY THEIR SHARED FUTURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Stoland Chair | OfficerTrustee | 5 | $0 |
Edward Eadon Vice Chair | OfficerTrustee | 4 | $0 |
Tammy Stanton Treasurer | OfficerTrustee | 2 | $0 |
Sue Ingles Secretary | OfficerTrustee | 2 | $0 |
Jason Haas Trustee | Trustee | 0.5 | $0 |
Dominique Djedje Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Red Hook Capital Partners Construction Services | 6/29/22 | $271,919 |
Pinner Construction Construction Services | 6/29/22 | $886,710 |
Mj Construction Development Inc Construction Services | 6/29/22 | $233,510 |
Stv Construction Construction Services | 6/29/22 | $255,258 |
Cannon Design Construction Services | 6/29/22 | $150,895 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,344,699 |
| All other contributions, gifts, grants, and similar amounts not included above | $466,832 |
| Noncash contributions included in lines 1a–1f | $23,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,811,531 |
| Total Program Service Revenue | $289,208 |
| Investment income | $331 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,101,085 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $306,292 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,081,849 |
| Pension plan accruals and contributions | $541,608 |
| Other employee benefits | $410,822 |
| Payroll taxes | $141,465 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $45,776 |
| Fees for services: Accounting | $10,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $635,177 |
| Advertising and promotion | $10,268 |
| Office expenses | $88,421 |
| Information technology | $45,108 |
| Royalties | $0 |
| Occupancy | $269,379 |
| Travel | $20,536 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,442,104 |
| Insurance | $187,925 |
| All other expenses | $159,362 |
| Total functional expenses | $7,863,250 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,390,585 |
| Savings and temporary cash investments | $141,952 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,220,491 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $37,066 |
| Net Land, buildings, and equipment | $56,448,486 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $59,238,580 |
| Accounts payable and accrued expenses | $570,307 |
| Grants payable | $0 |
| Deferred revenue | $796,540 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $1,185,158 |
| Unsecured mortgages and notes payable | $10,300,000 |
| Other liabilities | $0 |
| Total liabilities | $12,852,005 |
| Net assets without donor restrictions | $46,386,575 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $59,238,580 |