Cohasset Maritime Institute Inc

Analysis

Cohasset Maritime Institute Inc is a registered charity in United States, based in Cohasset, MA. It received its IRS tax-exemption ruling in May 1995, 31 years ago. Its declared purposes cover education, which this site groups under education and training. 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, Cohasset Maritime Institute Inc reported income of $216k and spending of $220k, spending 102% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $108k to $216k (+101%), an average of +19% a year. The sharpest change came in the year to December 2023, when income rose by 52%. Over the whole period it spent 105% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Cohasset Maritime Institute Inc sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 55th percentile, and in the 59th percentile within MA. Charities of a similar size with the same main cause include Skyview Academy Foundation ($216k), South Coast Childrens Services Inc ($216k) and Unique Xpressions Ministries Inc ($216k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 66% of the total. Other salaries and wages came to $136k. At year end it held assets of $122k against liabilities of $48k, net assets of $74k. It reported 26 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.