Los Angeles Maritime Institute

Analysis

Los Angeles Maritime Institute is a registered charity in United States, based in San Pedro, CA. It received its IRS tax-exemption ruling in January 1993, 33 years ago. Its declared purposes cover unknown, 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 June 2023, Los Angeles Maritime Institute reported income of $1.6m and spending of $2.1m, spending 132% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.5m to $1.6m (-35%), an average of -10% a year. The sharpest change came in the year to June 2020, when income dropped by 42%. Over the whole period it spent 119% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Los Angeles Maritime Institute sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include Hospice ($1.6m), Solace Sexual Assault Services ($1.6m) and Maryland Agricultural Education ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 39% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $100k (4.7% of expenses). At year end it held assets of $3.1m against liabilities of $816k, net assets of $2.3m. It reported 42 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.