Ocean Quest Inc in Falmouth, Massachusetts (MA)
| Ocean Quest Inc |
| Employer Identification Number (EIN) | 223229183 |
| Name of Organization | Ocean Quest Inc |
| In Care of Name | Crabtree Cpa & Associates |
| Address | PO BOX 928, Falmouth, MA 02541-0928 |
| Activities | Other scientific research activities |
| Subsection | Charitable Organization |
| Ruling Date | 05/1993 |
| Deductibility | Contributions are deductible |
| Foundation | Organization that normally receives no more than one third of its support from gross investment income and unrelated business income and at the same time more than one third of its support from contributions, fees, and gross receipts related to exempt purposes |
| Organization | Corporation |
| Exempt Organization Status | Unconditional Exemption |
| Tax Period | 12/2011 |
| Assets | $100,000 to $499,999 |
| Income | $100,000 to $499,999 |
| Filing Requirement | 990 - Not required to file (all other) |
| Asset Amount | $251,229 |
| Amount of Income | $134,588 |
| Form 990 Revenue Amount | $134,588 |
| National Taxonomy of Exempt Entities (NTEE) | Social Science Research Institutes, Services: Ethnic Studies |
Amount of income in 2011: $134,588 (it was $162,177 in 2010)
| Ocean Quest Inc: | $134,588 |
| Other organizations performing similar types of work: | $134,588 |
Assets in 2011: $251,229 (it was $5,716 in 2010)
| This organization: | $251,229 |
| Other organizations performing similar types of work: | $251,229 |
Expenses in 2011: $140,027
| Ocean Quest Inc: | $140,027 |
| Other organizations performing similar types of work: | $140,027 |
Income to expenses ratio in 2011: 1.0
| Ocean Quest Inc: | 1.0 |
| Other organizations performing similar types of work: | 1.1 |
Grants share in income in 2011: 0.0%
| Ocean Quest Inc: | 0.0% |
| Other organizations performing similar types of work: | 96.0% |
Functional expenses for 2011
| Statements Regarding Other IRS Filings and Tax Compliance (for 2011) |
| Did the organization have unrelated business gross income of $1,000 or more during the year? | No |
| Initiation fees and capital contributions | $0 |
| Gross receipts for public use of club facilities | $0 |
| Gross income from members or shareholders | $0 |
| Gross income from other sources | $0 |
| Statement of Revenue (for 2011) |
| Total revenue | $134,588 |
| Contributions, Gifts, Grants and Other Similar Amounts | $0 |
| Program Service Revenue | $133,798 |
| Other Revenue |
| Investment income (including dividends, interest, and other similar amounts) | $0 |
| Income from investment of tax-exempt bond proceeds | $0 |
| Royalties | $0 |
| Net rental income | $0 |
| Net gain from sales of assets other than inventory | $0 |
| Net income from fundraising events | $0 |
| Net income from gaming activities | $0 |
| Net income from sales of inventory | $0 |
| Miscellaneous Revenue | $790 |
| Statement of Functional Expenses (for 2011) |
| Total functional expenses | $140,027 |
| Compensation of current officers, directors, trustees, and key employees | $0 |
| Other salaries and wages | $39,734 |
| Payroll taxes | $5,732 |
| Professional fundraising services | $0 |
| Other | $94,561 |
| Balance Sheet (for 2011) |
| Total assets | $251,229 |
| Total liabilities | $302,456 |
| Tax-exempt bond liabilities | $0 |
| Secured mortgages and notes payable to unrelated third parties | $245,000 |
| Unsecured notes and loans payable to unrelated third parties | $0 |
| Other | $57,456 |
| Total net assets or fund balances | $-51,227 |
| Retained earnings, endowment, accumulated income, or other funds | $-51,227 |
| Reason for Public Charity Status (for 2011) |
| The organization is not a private foundation because it is: | An organization that normally receives: (1) more than 33 1/3 % of its support from contributions, membership fees, and gross receipts from activities related to its exempt functions - subject to certain exceptions, and (2) no more than 33 1/3 % of its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses acquired by the organization after June 30, 1975 |
| Support Schedule for Organizations Described in Section 509(a)(2) (for 2011) |
| 2007 - 2011 Total |
|---|
| Total support | $811,634 |
| Gifts, grants, contributions, and membership fees received | $355,646 |
| Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose | $455,588 |
| Tax revenues levied for the organization's benefit and either paid to or expended on its behalf | $0 |
| The value of services or facilities furnished by a governmental unit to the organization without charge | $0 |
| Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources and Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 | $0 |
| Other | $400 |
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| Organizations performing similar types of work |
| Id | Name | Address | State | Established | Total Income |
|---|
| 1 | Asian Americans Advancing Justice - Chicago | Suite 502, Chicago, IL 60640 | IL | 1993-03 | $1,097,866 |
| 2 | Poverty And Race Research Action Council | 1200 18th St Nw Ste 200, Washington, DC 20036-2529 | DC | 1991-03 | $636,150 |
| 3 | Center For Cuban Studies Inc | 231 West 29 Street, New York, NY 10001-5209 | NY | 1971-01 | $623,523 |
| 4 | Ocean Quest Inc | PO BOX 928, Falmouth, MA 02541-0928 | MA | 1993-05 | $134,588 |
| 5 | Vail Valley Institute | Po Box 1490, Vail, CO 81658 | CO | 1989-10 | $108,872 |
| 6 | Black World Foundation, The Black Scholar | 1822 25th Avenue, Seattle, WA 98122 | WA | 1973-07 | $15,763 |
| 7 | Assateague Peoples Inc | Po Box 63, Frankford, DE 19945 | DE | 1998-05 | $1,450 |
| 8 | Centre For Business And Public Sector Ethics Usa | Bury St Edmunds Ip33 3ph, United Kingdom | international | 1995-01 | $460 |
| Number of organizations performing similar types of work |
| Colorado | 1 |
| District of Columbia | 1 |
| Delaware | 1 |
| Illinois | 1 |
| | Massachusetts | 1 |
| New York | 1 |
| Washington | 1 |
| International | 1 |
|
| Total | 8 |
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