Inter District Committee for Project Oceanology

Analysis

Inter District Committee for Project Oceanology is a registered charity in United States, based in Groton, CT. It received its IRS tax-exemption ruling in February 1974, 52 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 June 2023, Inter District Committee for Project Oceanology reported income of $2.0m and spending of $1.7m, spending 85% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $958k to $2.0m (+112%), an average of +21% a year. The sharpest change came in the year to June 2022, when income rose by 39%. Over the whole period it spent 88% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Inter District Committee for Project Oceanology sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 84th percentile within CT. Charities of a similar size with the same main cause include Missions 3 16 ($2.0m), Featherstone Center for the Arts Inc ($2.0m) and Naples Art Association ($2.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 54% and program service revenue 43% of the total. Compensation of current officers, directors and key employees was $129k (7.4% of expenses). Other salaries and wages came to $729k. At year end it held assets of $1.8m against liabilities of $533k, net assets of $1.3m. It reported 37 employees.