Bermuda Institute of Ocean Sciences Bios Inc

Analysis

Bermuda Institute of Ocean Sciences Bios Inc is a registered charity in United States, based in Bermuda. It received its IRS tax-exemption ruling in October 1947, 79 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Bermuda Institute of Ocean Sciences Bios Inc reported income of $18.0m and spending of $17.0m, spending 95% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $12.7m to $18.0m (+42%), an average of +9.1% a year. The sharpest change came in the year to December 2020, when income rose by 73%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Bermuda Institute of Ocean Sciences Bios Inc sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 97th percentile. Charities of a similar size with the same main cause include Dallas Opera ($18.0m), Historic Tennessee Theatre Foundation ($18.0m) and Oakland Museum of California ($17.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 70% and program service revenue 6.7% of the total. Compensation of current officers, directors and key employees was $1.8m (10% of expenses). Other salaries and wages came to $4.8m. At year end it held assets of $42.6m against liabilities of $2.2m, net assets of $40.5m. It reported 42 employees.