Society for Underwater Technology

Analysis

Society for Underwater Technology is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in July 2022, 4 years ago. Its declared purposes cover community improvement and capacity building, which this site groups under community and economic development. 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 2024, Society for Underwater Technology reported income of $115k and spending of $117k, spending 102% of its income. Across the 6 years on record, from December 2019 to June 2024, income grew from $114k to $115k (+0.3%), an average of +0.1% a year. The sharpest change came in the year to June 2023, when income rose by 221%. Over the whole period it spent 107% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Society for Underwater Technology sits at the 38th percentile: it is larger than about 38% of them. Against every charity in United States with reported income it ranks in the 41st percentile, and in the 43rd percentile within TX. Charities of a similar size with the same main cause include Brighton Community Forum Inc ($115k), Macon Regional Crime Stoppers Inc ($115k) and Foundation of the Nebraska Society of Certified Public Accountants in ($115k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 16% and program service revenue 84% of the total. At year end it held assets of $98k against liabilities of $1,174, net assets of $97k.

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.