Ocean View Memorial Foundation Inc
- Assets
- $5.3m
- Revenue
- $133.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Myrtle Beach, SC
- Founding
- 06/2016
- Data as of
- 12/2022
- EIN
- 57-0368086
Organization Overview
Ocean View Memorial Foundation Inc is located in Myrtle Beach, SC. The organization was established in 2016. According to its NTEE Classification (T31) the organization is classified as: Community Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ocean View Memorial Foundation Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Ocean View Memorial Foundation Inc generated $133.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (12.6%) each year. All expenses for the organization totaled $293.1k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Ocean View Memorial Foundation Inc has awarded 44 individual grants totaling $553,361. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EXTEND GRANTS AND SCHOLARSHIPS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SCHOLARSHIPS IN THE MYRTLE BEACH AREA ON THE BASIS OF NEED AND MERIT
ASSIST ANY HEALTH CARE AND RELATED FACILITIES IN THE MYRTLE BEACH AREA WHICH WOULD QUALIFY FOR AN EXEMPTION UNDER THE PROVISIONS OF SECTION 501(C)(3), 509(A)(1) OR 509(A)(2)
EDUCATIONAL GRANTS TO THE HORRY-GEORGETOWN TECHNICAL COLLEGE FOUNDATION, THE COASTAL EDUCATIONAL FOUNDATION AND THE HORRY COUNTY K-12 FOUNDATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dr Jim Merritt Chairman | OfficerTrustee | 2 | $0 |
Leann Mischel Vice-Chairman | OfficerTrustee | 2 | $0 |
Gretchen Abney Secretary | OfficerTrustee | 2 | $0 |
Robert Sansbury Treasurer | OfficerTrustee | 2 | $0 |
Dr Bill Bogache Director | Trustee | 2 | $0 |
Mike Lowder Director | Trustee | 2 | $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 | $0 |
| Investment income | $234,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$105,722 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $133,658 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $146,368 |
| Grants and other assistance to domestic individuals. | $90,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $30,444 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $14,186 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $737 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $3,913 |
| All other expenses | $0 |
| Total functional expenses | $293,148 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $114,680 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $3,261 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $5,201,059 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,319,000 |
| Accounts payable and accrued expenses | $7,611 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Total liabilities | $7,611 |
| Net assets without donor restrictions | $5,311,389 |
| 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 | $5,319,000 |
Grants Awarded
Over the last fiscal year, Ocean View Memorial Foundation Inc has awarded $130,368 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
COASTAL EDUCATIONAL FOUNDATION PURPOSE: EDUCATIONAL | $12,750 |
COASTAL SAMARITAN COUNSELING CENTER PURPOSE: HEALTH CARE RELATED | $9,000 |
HELPING HAND OF MYRTLE BEACH PURPOSE: HEALTH CARE RELATED | $12,750 |
NEW DIRECTIONS OF HORRY COUNTY INC PURPOSE: HEALTH CARE RELATED | $12,750 |
HORRY GEORGETOWN TECHNICAL COLLEGE PURPOSE: EDUCATIONAL | $18,280 |
LOWER CAPE FEAR HOSPICE PURPOSE: HEALTH CARE RELATED | $9,000 |