Ma Maritime Academy Foundation Inc

Analysis

Ma Maritime Academy Foundation Inc is a registered charity in United States, based in Buzzards Bay, MA. It received its IRS tax-exemption ruling in June 1969, 57 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 June 2023, Ma Maritime Academy Foundation Inc reported income of $12.6m and spending of $1.7m, leaving 86% of income unspent that year. Across the 4 years on record, from June 2020 to June 2023, income grew from $5.7m to $12.6m (+120%), an average of +30% a year. The sharpest change came in the year to June 2023, when income rose by 77%. Over the whole period it spent 18% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Ma Maritime Academy Foundation Inc sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 95th percentile within MA. Charities of a similar size with the same main cause include Urban Strategies Inc ($12.6m), Cornerstone Academy Community School ($12.6m) and Sefaria Inc ($12.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 88% of the total. At year end it held assets of $56.1m against liabilities of $391k, net assets of $55.7m.