Lundeberg Maryland Seamanship School Inc

Analysis

Lundeberg Maryland Seamanship School Inc is a registered charity in United States, based in Camp Springs, MD. It received its IRS tax-exemption ruling in December 1973, 53 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Lundeberg Maryland Seamanship School Inc reported income of $8.0m and spending of $29.1m, spending 364% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $7.0m to $8.0m (+14%), an average of +3.3% a year. The sharpest change came in the year to December 2021, when income rose by 96%. Over the whole period it spent 410% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Lundeberg Maryland Seamanship School Inc 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 94th percentile, and in the 93rd percentile within MD. Charities of a similar size with the same main cause include Swift Learning Center Inc ($8.0m), Western Illinois Regional Council Community Action Agency ($8.0m) and Magnolia Heights School Inc ($8.0m).

On its Form 990 for the period ending December 2023, revenue came from program service revenue 70% of the total. Compensation of current officers, directors and key employees was $146k (0.5% of expenses). Other salaries and wages came to $8.8m. At year end it held assets of $44.1m against liabilities of $711k, net assets of $43.4m. It reported 195 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.