OCEAN INC (EIN 221804345) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1967

Legal Domicile

Principal Officer

TAMICA MICKLE

Phone

7322445333

Tax Period

2024-01-01 to 2024-12-31

OCEAN INC, founded in 1967, is a mid-sized nonprofit that reported $15.0M in total revenue in fiscal year 2024.

Mission

ADMINISTRATION OF FEDERAL HEAD START PROGRAM, WEATHERIZATION PROGRAMS, RENTAL ASSISTANCE PROGRAMS AND OTHER ASSISTANCE TO LOW INCOME FAMILIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $13,140,920

Program Service Revenue $1,280,050

Investment Income $457,545

Other Revenue $153,606

TOTAL REVENUE $15,032,121

Expense Breakdown

Grants Paid $1,296,573

Salaries & Benefits $7,043,988

Fundraising Expenses $0

Program Expenses $12,717,573

Other Expenses $6,444,404

TOTAL EXPENSES $14,784,965

Year-over-Year Comparison

	2024	2023	Change
Revenue	$15,032,121	$15,757,678	0.0%
Expenses	$14,784,965	$13,986,968	+0.1%
Net Income	$247,156	$1,770,710	-0.9%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

155

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$408,124

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANITA WOOLERY	CHAIRPERSON	4.00	Officer Director	$0	$0	$0
GLYNIS JEAN WRAY	VICE CHAIRPERSON	2.00	Officer Director	$0	$0	$0
TRACEY LYNN TRINIWELL	TREASURER	2.00	Officer Director	$0	$0	$0
MARY GUARIN	SECRETARY	1.00	Officer Director	$0	$0	$0
JENNIFER L BARNES ESQ	MEMBER	1.00	Director	$0	$0	$0
HENRY A JACKSON	MEMBER	1.00	Director	$0	$0	$0
ADRIENNE LAWRENCE	MEMBER	1.00	Director	$0	$0	$0
JUDITH PETO	MEMBER	1.00	Director	$0	$0	$0
SHAMAILA SHEIKH	MEMBER	1.00	Director	$0	$0	$0
CHANNELL WILKINS	PRESIDENT/CEO (THRU SEPT 2024)	40.00	Officer	$210,231	$421	$210,652
BETH HUDSON	CHIEF FINANCIAL OFFICER	40.00	Officer	$123,924	$22,567	$146,491
TAMICA MICKLE	PRESIDENT/CEO (SEPT 2024-PRESENT)	40.00	Officer	$50,981	$0	$50,981
MARGARET SAUNDERS	VP OF CHILDREN'S SERVICES	40.00	Highest	$117,719	$5,165	$122,884
SHERRIE HUFF	VP OF HUMAN RESOURCES	40.00	Highest	$120,909	$4,194	$125,103

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$15,032,121	$14,784,965	$23,950,996	$247,156
2023	$15,757,678	$13,986,968	$23,437,874	$1,770,710
2022	$14,455,709	$14,296,634	$22,321,911	$159,075
2021	$17,288,435	$15,353,683	$23,267,325	$1,934,752
2020	$12,022,468	$14,185,472	$22,078,893	$-2,163,004
2019	$13,090,163	$12,741,449	$22,666,967	$348,714
2018	$12,674,820	$12,534,431	$20,655,083	$140,389

OCEAN INC