Portsmouth Submarine & Maritime Association

Analysis

Portsmouth Submarine & Maritime Association is a registered charity in United States, based in Portsmouth, NH. It received its IRS tax-exemption ruling in September 1983, 43 years ago. Its declared purposes cover arts, culture and humanities, 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 December 2023, Portsmouth Submarine & Maritime Association reported income of $528k and spending of $498k, spending 94% of its income. Across the 6 years on record, from September 2019 to December 2023, income grew from $383k to $528k (+38%), an average of +6.6% a year. The sharpest change came in the year to December 2020, when income rose by 314%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Portsmouth Submarine & Maritime Association sits at the 78th percentile: it is larger than about 78% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 73rd percentile within NH. Charities of a similar size with the same main cause include Boston Chamber Music Society Inc ($527k), Vermont Independent Media Inc ($528k) and Belmont Community Media Center Inc ($527k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 11% and program service revenue 72% of the total. Compensation of current officers, directors and key employees was $66k (13% of expenses). Other salaries and wages came to $160k. At year end it held assets of $2.0m against liabilities of $19k, net assets of $1.9m.