Ocean City 2406 Inc

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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

1980

Legal Domicile

Phone

7329229800

Tax Period

2023-07-01 to 2024-06-30

Ocean City 2406 Inc, founded in 1980, is a community nonprofit in the Housing & Shelter sector that reported $1.2M in total revenue in fiscal year 2023. Revenue decreased 5% compared to the prior year.

Mission

Compassionately serving in community so that all are free to choose abundant life.

Program Service Accomplishments

Program 1

Expenses: $795,885 Revenue: $1,199,178

The Corporation consists of 60 apartments for senior and handicapped individuals financed through HUD. Occupancy averaged 96%.

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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 (2023)

Revenue Breakdown

Contributions & Grants $85,064

Program Service Revenue $1,199,178

Investment Income $-59,580

Other Revenue $0

TOTAL REVENUE $1,224,662

Expense Breakdown

Grants Paid $0

Salaries & Benefits $350,307

Fundraising Expenses $0

Program Expenses $795,885

Other Expenses $943,769

TOTAL EXPENSES $1,294,076

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,224,662	$1,291,212	-0.1%
Expenses	$1,294,076	$1,306,080	0.0%
Net Income	$-69,414	$-14,868	+3.7%

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

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

Total Directors

$411,524

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Mark Lenhard	CEO/Secretary	0.50	Director	$0	$12,651	$411,524
Lawrence Carlson	CEO/Secretary	0.50		$0	$0	$98,173
Rev Edward Carll	Chairman	0.50	Director	$0	$0	$0
Jana Purkis-Brash	Trustee	0.50	Director	$0	$0	$0
Gavin Stobie	Trustee	0.50	Director	$0	$0	$0
Lawrence E Johnson III	Trustee	0.50	Director	$0	$0	$0
James Jackson	Trustee	0.50	Director	$0	$0	$0
Rev Christopher L Miller	Trustee	0.50	Director	$0	$0	$0

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
2025	No data	No data	No data	No data
2024	$1,224,662	$1,294,076	$5,276,705	$-69,414
2023	$1,291,212	$1,306,080	$5,869,330	$-14,868
2022	$1,275,497	$1,132,997	$4,974,154	$142,500
2021	$1,131,742	$1,079,890	$1,779,996	$51,852
2020	$1,173,554	$1,035,785	$1,751,239	$137,769
2019	$1,181,742	$1,007,910	$1,584,983	$173,832
2018	$1,131,242	$1,061,886	$1,573,028	$69,356