Marine Applied Research and Exploration

Analysis

Marine Applied Research and Exploration is a registered charity in United States, based in Blue Lake, CA. It received its IRS tax-exemption ruling in January 2004, 22 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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 June 2023, Marine Applied Research and Exploration reported income of $1.3m and spending of $1.5m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $1.1m to $1.3m (+19%), an average of +4.4% a year. The sharpest change came in the year to June 2023, when income dropped by 24%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Marine Applied Research and Exploration 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 82nd percentile, and in the 83rd percentile within CA. Charities of a similar size with the same main cause include National Center on Philanthropy and the Law Inc ($1.3m), Topeka Performing Arts Center Inc ($1.3m) and Kentucky Shakespeare Festival Inc ($1.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $160k (11% of expenses). Other salaries and wages came to $537k. It paid $13k in professional fundraising fees. At year end it held assets of $1.1m against liabilities of $359k, net assets of $780k. It reported 7 employees.