American Society of Mechanical Engineers

Analysis

American Society of Mechanical Engineers is a registered charity in United States, based in New York, NY. It received its IRS tax-exemption ruling in October 1991, 35 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, American Society of Mechanical Engineers reported income of $160.5m and spending of $130.1m, spending 81% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $109.3m to $160.5m (+47%), an average of +10% a year. The sharpest change came in the year to June 2023, when income rose by 39%. Over the whole period it spent 91% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Society of Mechanical Engineers 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 100th percentile, and in the 99th percentile within NY. Charities of a similar size with the same main cause include Crystal Bridges Museum of American Art Inc ($152.1m), Internet Corporation for Assigned Names and Numbers ($163.7m) and Museum of Fine Arts Houston ($148.0m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.8% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $4.1m (3.2% of expenses). Other salaries and wages came to $42.4m. It paid $209k in professional fundraising fees. At year end it held assets of $250.7m against liabilities of $100.7m, net assets of $150.0m. It reported 428 employees.