Star of the Sea Foundation Inc

Analysis

Star of the Sea Foundation Inc is a registered charity in United States, based in Key West, FL. It received its IRS tax-exemption ruling in April 2009, 17 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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 December 2022, Star of the Sea Foundation Inc reported income of $3.3m and spending of $3.5m, spending 107% of what it took in. Across the 4 years on record, from December 2019 to December 2022, income fell from $4.1m to $3.3m (-21%), an average of -7.6% a year. The sharpest change came in the year to December 2020, when income rose by 70%. Over the whole period it spent 94% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Star of the Sea Foundation Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Sioux Empire Triage Center ($3.3m), Innovations Family Wellness ($3.3m) and Crawford County Drug and Alcohol ($3.3m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 95% and program service revenue 1.2% of the total. Other salaries and wages came to $649k. At year end it held assets of $5.9m against liabilities of $2.0m, net assets of $4.0m. It reported 20 employees.