Swans Island Educational Society

Analysis

Swans Island Educational Society is a registered charity in United States, based in Swans Island, ME. It received its IRS tax-exemption ruling in January 1974, 52 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Swans Island Educational Society reported income of $81k and spending of $102k, spending 126% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $58k to $81k (+41%), an average of +8.9% a year. The sharpest change came in the year to December 2022, when income rose by 52%. Over the whole period it spent 134% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Swans Island Educational Society sits at the 31st percentile: it is larger than about 31% of them. Against every charity in United States with reported income it ranks in the 31st percentile, and in the 24th percentile within ME. Charities of a similar size with the same main cause include American Friends of the Chronic Care Center Inc ($81k), PTA Texas Congress ($81k) and Coblentz Society ($81k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 98% of the total. Compensation of current officers, directors and key employees was $22k (21% of expenses). Other salaries and wages came to $2,400. At year end it held assets of $903k against liabilities of $3,812, net assets of $899k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.