Block Island Maritime Institute

Analysis

Block Island Maritime Institute is a registered charity in United States, based in Block Island, RI. It received its IRS tax-exemption ruling in June 1998, 28 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, Block Island Maritime Institute reported income of $319k and spending of $327k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $309k to $319k (+3.1%), an average of +0.8% a year. Over the whole period it spent 87% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Block Island Maritime Institute sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 63rd percentile, and in the 59th percentile within RI. Charities of a similar size with the same main cause include Unsung Siblings Foundation Inc ($319k), Sickle Cell Medical Advocacy ($319k) and Biblical Counseling Ministries Worldwide Inc ($319k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 61% of the total. Other salaries and wages came to $108k. At year end it held assets of $1.1m against liabilities of $159k, net assets of $937k. It reported 8 employees.