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Operation Spay Bay Inc

EIN 45-2931723 · Panama City, FL

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthFair55 out of 100GovernanceGood80 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

OUR MISSION IS TO PROMOTE RESPONSIBLE PET OWNERSHIP WITH AFFORDABLE SPAY/NEUTER AND VETERINARY CARE SERVICES. IN OFFERING THESE AFFORDABLE SERVICES THE ULTIMATE GOAL IS TO REDUCE THE OVERPOPULATION OF UNWANTED CATS AND DOGS THROUGHOUT OUR COMMUNITY AND PROMOTE HEALTHY OUTCOMES FOR ALL.

Income
$3.3 million
Spending
$2.7 million
Spent on programs
96%
Reserves
-5.3 months of spending
Largest source of income
fees for its services, 68%
Employees
38
Volunteers
6
Highest pay
$167,073, vet-medical

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Fair: 55 out of 100. Higher than 15% of charities in its peer group (animals, $1m to $10m).

  • Reserves

    0 of 35

    Spendable reserves are negative: it owes or has committed more than it holds.

  • Debt

    10 of 20

    It owes 46% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 16% of income.

  • Income trend

    15 of 15

    Income rose 30% on the year before.

  • Spending floor

    15 of 15

    96% of spending went to programs and raising each dollar of donations cost 0 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Good: 80 out of 100. Higher than 41% of charities in its peer group (animals, $1m to $10m).

  • Independent board

    25 of 25

    6 of 7 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    0 of 5

    Reports no independent review process for its chief executive's pay.

  • Independent check of accounts

    15 of 15

    Its accounts were audited by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (2)
  1. $2.5 million spent. IN THE YEAR 2024 13,539 SPAY/NEUTER SURGERIES WERE PERFORMED. 28,887 VACCINES WERE GIVEN TO PROMOTE A HEALTHY PET. ADDITIONALLY 34,103 SERVICES WERE PROVIDED TO INCLUDE DENTAL, DISASE/SICKNESS DIAGNOSTICS, EXAMS, LAB WORK, X-RAYS, WOUND REPAIR, ADDITIONAL SURGICAL PROCEDURES, MICROCHIPPING, TESTING, PREVENTATIVES AND PARASITE CONTROL. IN OFFERING THESE AFFORDABLE SERVICES THE ULTIMATE GOAL IS TO REDUCE THE OVERPOPULATION OF UNWANTED CATS AND DOGS THROUGHOUT OUR COMMUNITY AND PROMOTE HEALTHY OUTCOMES FOR ALL.
  2. $94,213 spent. OSB HAS ENTERED INTO A PARTNERSHIP WITH CASTAWAY CATS AND DOGS BY PURCHASING A PROPERTY WITH A RESTRICTED DONATION TO HOUSE CATS AND DOGS FOR RESCUE LOCALLY AND TO TRANPSOT TO OTHER AREAS OF THE COUNTRY. CASTAWAY CATS AND DOGS IS RESPONSIBLE FOR THE VETTING AND CARE OF THE ANIMALS. OSB MAINTAINS THE PROPERTY EXPENSES. 609 CATS AND DOGS WERE ADOPTED THROUGH THE PROGRAM THIS YEAR.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since July 2012.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

Ratings and checks are our reading of public records, using the published method. They are not a statement about anyone's honesty. If you work for this organization, you can send corrections or results, confirm you want gifts through Veridonate, or ask to be removed from giving.