Friends of Thunderbay National Marine Sanctuary

Analysis

Friends of Thunderbay National Marine Sanctuary is a registered charity in United States, based in Alpena, MI. It received its IRS tax-exemption ruling in September 2011, 15 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending February 2023, Friends of Thunderbay National Marine Sanctuary reported income of $560k and spending of $293k, leaving 48% of income unspent that year. Across the 5 years on record, from February 2019 to February 2023, income grew from $282k to $560k (+99%), an average of +19% a year. The sharpest change came in the year to February 2022, when income rose by 207%. Over the whole period it spent 81% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Friends of Thunderbay National Marine Sanctuary sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 72nd percentile, and in the 72nd percentile within MI. Charities of a similar size with the same main cause include Grace Foundation Inc ($560k), Cure Mito Foundation ($560k) and John B & Dareth Gerlach Foundation ($560k).

On its Form 990 for the period ending February 2023, revenue came from contributions and grants 80% and program service revenue 18% of the total. Other salaries and wages came to $76k. At year end it held assets of $685k against liabilities of $7,558, net assets of $677k. It reported 16 employees.