Charles Stark Draper Laboratory Inc

Analysis

Charles Stark Draper Laboratory Inc is a registered charity in United States, based in Cambridge, MA. It received its IRS tax-exemption ruling in March 1973, 53 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 2023, Charles Stark Draper Laboratory Inc reported income of $764.6m and spending of $730.4m, spending 96% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $653.7m to $764.6m (+17%), an average of +4.0% a year. The sharpest change came in the year to June 2023, when income rose by 39333%. Over the whole period it spent 98% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Charles Stark Draper Laboratory Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 100th percentile, and in the 100th percentile within MA. Charities of a similar size with the same main cause include The Metropolitan Museum of Art ($761.5m), Alliance for Energy Innovation LLC ($786.3m) and American Chemical Society ($711.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 0.6% and program service revenue 97% of the total. Compensation of current officers, directors and key employees was $3.9m (0.5% of expenses). Other salaries and wages came to $270.9m. At year end it held assets of $745.8m against liabilities of $260.7m, net assets of $485.2m. It reported 2,611 employees.