Bigelow Laboratory for Ocean Sciences

Analysis

Bigelow Laboratory for Ocean Sciences is a registered charity in United States, based in East Boothbay, ME. It received its IRS tax-exemption ruling in January 1961, 65 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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 2024, Bigelow Laboratory for Ocean Sciences reported income of $30.5m and spending of $19.5m, leaving 36% of income unspent that year. Across the 6 years on record, from June 2019 to June 2024, income grew from $12.9m to $30.5m (+137%), an average of +19% a year. The sharpest change came in the year to June 2023, when income rose by 104%. Over the whole period it spent 70% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bigelow Laboratory for Ocean Sciences 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 98th percentile, and in the 98th percentile within ME. Charities of a similar size with the same main cause include Menil Foundation Inc ($30.5m), PRX Incorporated ($30.6m) and Houston Grand Opera Association Inc ($30.4m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 92% and program service revenue 6.8% of the total. Compensation of current officers, directors and key employees was $2.7m (14% of expenses). Other salaries and wages came to $5.0m. At year end it held assets of $104.5m against liabilities of $21.5m, net assets of $83.0m. It reported 134 employees.