Ocean City Development Corporation
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2021 | 736,384 | 659,486 | 76,898 | 47.3 | 18% |
| 2022 | 649,081 | 552,510 | 96,571 | 58.5 | 24% |
| 2023 | 622,836 | 592,129 | 30,707 | 55.2 | 30% |
In its most recent public year (2023), this organization brought in $30,707 more than it spent. Its reserves stood at about 55.2 months of spending, up from 47.3 in 2021. Staff pay was 30% of spending. $2,058 of its net assets are donor-restricted.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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