United States Merchant Marine Academy Alumni Association and Fou

Analysis

United States Merchant Marine Academy Alumni Association and Fou is a registered charity in United States, based in Kings Point, NY. It received its IRS tax-exemption ruling in August 1959, 67 years ago. Its declared purposes cover education, which this site groups under education and training. 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, United States Merchant Marine Academy Alumni Association and Fou reported income of $6.6m and spending of $4.8m, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $8.4m to $6.6m (-22%), an average of -5.9% a year. The sharpest change came in the year to December 2022, when income dropped by 17%. Over the whole period it spent 60% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, United States Merchant Marine Academy Alumni Association and Fou sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 93rd percentile, and in the 91st percentile within NY. Charities of a similar size with the same main cause include Soaring Heights Charter School ($6.6m), Texas Education Works ($6.6m) and University Student Center of California State Univ Stanislaus ($6.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 3.4% of the total. Compensation of current officers, directors and key employees was $398k (8.2% of expenses). Other salaries and wages came to $898k. At year end it held assets of $58.8m against liabilities of $381k, net assets of $58.4m. It reported 11 employees.