Marine Science Consortium Inc

Analysis

Marine Science Consortium Inc is a registered charity in United States, based in Wallops Is, VA. It received its IRS tax-exemption ruling in February 1970, 56 years ago. 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 2023, Marine Science Consortium Inc reported income of $2.9m and spending of $2.5m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.0m to $2.9m (-2.4%), an average of -0.6% a year. The sharpest change came in the year to December 2020, when income dropped by 50%. Over the whole period it spent 92% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Marine Science Consortium Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 89th percentile within VA. Charities of a similar size with the same main cause include Hebrew Free Loan Association of San Francisco ($2.9m), Post Falls Food Bank Inc ($2.9m) and Association of Waldorf Schools ($2.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 0.1% and program service revenue 99% of the total. Other salaries and wages came to $714k. At year end it held assets of $12.3m against liabilities of $7.1m, net assets of $5.2m. It reported 41 employees.