Gulf of Maine Research Institute

Analysis

Gulf of Maine Research Institute is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in May 1996, 30 years ago. Its declared purposes cover animal-related, which this site groups under animals. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Gulf of Maine Research Institute reported income of $19.4m and spending of $15.4m, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income grew from $13.9m to $19.4m (+39%), an average of +8.6% a year. The sharpest change came in the year to June 2023, when income rose by 25%. Over the whole period it spent 80% of the income it received.

Among 14,470 United States charities whose main cause is animals and that reported income, Gulf of Maine Research Institute sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 97th percentile within ME. Charities of a similar size with the same main cause include California Trout ($19.3m), Fish & Wildlife Foundation of Florida Inc ($19.4m) and Lifeline Animal Project Inc ($19.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 96% and program service revenue 2.7% of the total. Compensation of current officers, directors and key employees was $1.4m (9.0% of expenses). Other salaries and wages came to $5.3m. At year end it held assets of $50.4m against liabilities of $15.3m, net assets of $35.1m. It reported 111 employees.