Oshean Inc
- Assets
- $30.4m
- Revenue
- $8.7m
- Investments
- $0.0
- Employees
- 23
- Location
- North Kingstown, RI
- Founding
- 08/2000
- Data as of
- 06/2022
- EIN
- 05-0509325
Organization Overview
Oshean Inc is located in North Kingstown, RI. The organization was established in 2000. According to its NTEE Classification (W02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Public & Societal Benefit and related organizations. As of 06/2022, Oshean Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oshean Inc 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, Oshean Inc generated $8.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $10.4m during the year ending 06/2022. While expenses have increased by 3.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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 PROVIDE PREMIUM BROADBAND TELECOMMUNICATION, IP NETWORKING AND ABOVE THE NET SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OSHEAN HAS ESTABLISHED AND MAINTAINS INTERNET SERVICES AT 25 LOCAL AREA COLLEGES AND UNIVERSITIES, 8 HEALTHCARE NETWORKS, 11 STATE AND LOCAL AGENCIES, 88 GRADES K-12 AND PUBLIC LIBRARIES, AND 10 NOT-FOR-PROFIT ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David C Marble President/ceo | Officer | 40 | $254,291 |
Claude J Tolbert COO | Officer | 40 | $197,766 |
Timothy A Rue Chief Tech. Officer | 40 | $164,815 | |
Mark Montalto Director - Bus. Dev. | 40 | $161,344 | |
Jonathan Domen Senior Network Architect | 40 | $132,516 | |
Paul Fontaine Vice Chair | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $8,661,306 |
| Investment income | $34,854 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$13,600 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,682,560 |
| 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. | $563,358 |
| Compensation of current officers, directors, key employees. | $212,523 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,084,882 |
| Pension plan accruals and contributions | $284,841 |
| Other employee benefits | $344,952 |
| Payroll taxes | $196,926 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,740 |
| Fees for services: Accounting | $46,144 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,145 |
| Fees for services: Other | $322,593 |
| Advertising and promotion | $110,116 |
| Office expenses | $24,759 |
| Information technology | $53,697 |
| Royalties | $0 |
| Occupancy | $150,708 |
| Travel | $20,369 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $19,606 |
| Interest | $86,735 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,953,163 |
| Insurance | $82,715 |
| All other expenses | $57,615 |
| Total functional expenses | $10,424,368 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $527,225 |
| Savings and temporary cash investments | $2,824,121 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,362,836 |
| 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 | $1,064,799 |
| Net Land, buildings, and equipment | $23,443,889 |
| Investments—publicly traded securities | $995,491 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $221,775 |
| Total assets | $30,440,136 |
| Accounts payable and accrued expenses | $859,944 |
| Grants payable | $0 |
| Deferred revenue | $1,035,795 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,322,558 |
| Total liabilities | $6,218,297 |
| Net assets without donor restrictions | $24,221,839 |
| 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 | $30,440,136 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Oshean Inc has recieved totaling $56,000.
| Awarding Organization | Amount |
|---|---|
The Rhode Island Community Foundation Providence, RI PURPOSE: OCEAN STATE LIBRARIES OSL WIFI PARKING LOT PROJECT | $25,000 |
The Rhode Island Community Foundation Providence, RI PURPOSE: OCEAN STATE LIBRARIES OSL WIFI PARKING LOT PROJECT | $25,000 |
The Rhode Island Community Foundation Providence, RI PURPOSE: OSHEANCON | $3,000 |
The Rhode Island Community Foundation Providence, RI PURPOSE: OSHEANCON | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Oshean Inc North Kingstown, RI | $30,440,136 | $8,682,560 |
Massachusetts Higher Education Amherst, MA | $6,866,706 | $3,443,422 |
Washburn Park Inc Worcester, MA | $38,431,924 | $486,220 |
Nopi - Nonprofit Incubator Norwood, MA | $40,106 | $0 |
Merrimack Valley Transportation Management Association Marblehead, MA | $114,028 | $83,250 |
Class Achieving Change Together Class Act Inc Manchester, MA | $173,445 | $0 |
Western Massachusetts Public Utilities Council Westfield, MA | $60,754 | $0 |