World Ocean School

Analysis

World Ocean School is a registered charity in United States, based in Boston, MA. It received its IRS tax-exemption ruling in September 2002, 24 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, World Ocean School reported income of $1.7m and spending of $1.8m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.2m to $1.7m (+39%), an average of +8.6% a year. The sharpest change came in the year to December 2021, when income rose by 103%. Over the whole period it spent 86% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, World Ocean School sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 83rd percentile within MA. Charities of a similar size with the same main cause include Los Angeles Rams Foundation ($1.7m), Westover Hills Daycare Center ($1.7m) and International Literacy Association ($1.7m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% and program service revenue 32% of the total. Compensation of current officers, directors and key employees was $107k (6.0% of expenses). Other salaries and wages came to $621k. At year end it held assets of $3.0m against liabilities of $1.9m, net assets of $1.1m. It reported 34 employees.