New London Maritime Society Inc

Analysis

New London Maritime Society Inc is a registered charity in United States, based in New London, CT. It received its IRS tax-exemption ruling in January 1990, 36 years ago. 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, New London Maritime Society Inc reported income of $299k and spending of $238k, leaving 20% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $128k to $299k (+134%), an average of +24% a year. The sharpest change came in the year to December 2022, when income rose by 101%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, New London Maritime Society Inc sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 59th percentile within CT. Charities of a similar size with the same main cause include Alliance High School Foundation of Alliance Ohio ($299k), Dancefusion Inc ($299k) and South Carolina Railroad Museum Inc ($299k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 4.5% of the total. Other salaries and wages came to $82k. At year end it held assets of $575k against liabilities of $3,652, net assets of $571k. It reported 3 employees.