Sea Research Foundation Inc

Analysis

Sea Research Foundation Inc is a registered charity in United States, based in Mystic, CT. It received its IRS tax-exemption ruling in December 1997, 29 years ago. Its declared purposes cover animal-related, which this site groups under animals. 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, Sea Research Foundation Inc reported income of $32.6m and spending of $29.6m, spending 91% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $26.8m to $32.6m (+21%), an average of +5.0% a year. The sharpest change came in the year to December 2021, when income rose by 50%. Over the whole period it spent 82% of the income it received.

Among 14,470 United States charities whose main cause is animals and that reported income, Sea Research Foundation Inc sits at the 100th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 98th percentile within CT. Charities of a similar size with the same main cause include Cheyenne Mountain Zoological Society ($32.5m), African Wildlife Foundation ($33.7m) and Dallas Zoo Management Inc ($32.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 27% and program service revenue 73% of the total. Compensation of current officers, directors and key employees was $657k (2.2% of expenses). Other salaries and wages came to $12.9m. It paid $120k in professional fundraising fees. At year end it held assets of $59.6m against liabilities of $12.5m, net assets of $47.0m. It reported 347 employees.