Marine Science and Nauticaltraining Academy

Analysis

Marine Science and Nauticaltraining Academy is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in August 2007, 19 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2022, Marine Science and Nauticaltraining Academy reported income of $224k and spending of $435k, spending 194% of what it took in. Across the 5 years on record, from December 2018 to December 2022, income fell from $1.8m to $224k (-88%), an average of -41% a year. The sharpest change came in the year to December 2019, when income dropped by 90%. Over the whole period it spent 75% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Marine Science and Nauticaltraining Academy sits at the 56th percentile: it is larger than about 56% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 61st percentile within SC. Charities of a similar size with the same main cause include Friends of Portland Adult Education ($224k), Palo Alto High School Robotics Booster Club ($225k) and The Homestead Co-Op ($224k).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 0.6% and program service revenue 99% of the total. Other salaries and wages came to $5,631. At year end it held assets of $1.3m against liabilities of $469k, net assets of $792k. It reported 2 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.