Coast Guard Mutual Assistance Incorporated

Analysis

Coast Guard Mutual Assistance Incorporated is a registered charity in United States, based in Fort Myer, VA. It received its IRS tax-exemption ruling in June 2002, 24 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable 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 December 2023, Coast Guard Mutual Assistance Incorporated reported income of $9.6m and spending of $8.1m, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $19.8m to $9.6m (-52%), an average of -17% a year. The sharpest change came in the year to December 2021, when income rose by 105%. Over the whole period it spent 64% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Coast Guard Mutual Assistance Incorporated sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include New Jersey Association for Mental Health Inc ($9.6m), WJCT Inc ($9.6m) and American Society of Human Genetics ($9.6m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 66% of the total. Compensation of current officers, directors and key employees was $185k (2.3% of expenses). Other salaries and wages came to $1.2m. It paid $26k in professional fundraising fees. At year end it held assets of $52.9m against liabilities of $600k, net assets of $52.3m. It reported 14 employees.