OCEAN CITY COMMUNITY DEVELOPMENT C… - Form 990 Financial Data

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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

2017

Legal Domicile

Principal Officer

ROBERT BARR

Phone

6093991062

Tax Period

2023-10-01 to 2024-09-30

OCEAN CITY COMMUNITY DEVELOPMENT CORPORATION, founded in 2017, is a small nonprofit in the Housing & Shelter sector that reported $103K in total revenue in fiscal year 2023. Revenue fell 93% from the prior year — a significant decline worth monitoring. Net assets of $1.7M represent 196 months of operating reserves.

Mission

TO DEVELOP AFFORDABLE RENTAL HOUSING FOR LOW INCOME FAMILIES

Program Service Accomplishments

Program 1

Expenses: $107,956 Revenue: $55,617

TO DEVELOP AND PROVIDE AFFORDABLE RENTAL HOUSING UNITS FOR NEEDY, LOW INCOME HOUSEHOLDS OF THE CITY OF OCEAN CITY, NEW JERSEY. DURING FISCAL YEAR END 9/30/2024 CONSTRUCTION ON 5 DUPLEXES, CONSISTING OF 10 FAMILY UNITS, WERE COMPLETED. THEY WERE AVAILABLE FOR RENT IN MAY 2024. TWO UNITS ARE HANDICAP ACCESSIBLE WITH ELEVATORS. ALL UNITS WERE FULLY RENTED.

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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 $46,782

Program Service Revenue $55,617

Investment Income $215

Other Revenue $0

TOTAL REVENUE $102,614

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $107,956

Other Expenses $107,956

TOTAL EXPENSES $107,956

Year-over-Year Comparison

	2023	2022	Change
Revenue	$102,614	$1,570,557	-0.9%
Expenses	$107,956	$9,671	+10.2%
Net Income	$-5,342	$1,560,886	-1.0%

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

N/A

Volunteers

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ROBERT BARR	CHAIRMAN OF	N/A	Officer Director	$0	$0	$0
BRIAN BROADLEY	COMMISSIONER	N/A	Director	$0	$0	$0
ROBERT SCOTT HALLIDAY	VICE CHAIRMA	N/A	Officer Director	$0	$0	$0
ROBERT HENRY	COMMISSIONER	N/A	Director	$0	$0	$0
BEVERLY MCCALL	COMMISSIONER	N/A	Director	$0	$0	$0
PATRICIA MILES-JACKSON	COMMISSIONER	N/A	Director	$0	$0	$0
JACQUELINE JONES	SECRETARY/TR	N/A	Officer	$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
2024	$102,614	$107,956	$4,344,710	$-5,342
2023	$1,570,557	$9,671	$4,508,376	$1,560,886

OCEAN CITY COMMUNITY DEVELOPMENT CORPORATION