American Chemical Society

Analysis

American Chemical Society is a registered charity in United States, based in Akron, OH. It received its IRS tax-exemption ruling in May 1946, 80 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, American Chemical Society reported income of $2.8m and spending of $2.0m, leaving 27% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income fell from $3.2m to $2.8m (-11%), an average of -3.0% a year. The sharpest change came in the year to December 2021, when income rose by 279%. Over the whole period it spent 106% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, American Chemical Society sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within OH. Charities of a similar size with the same main cause include Chahta Foundation ($2.8m), Long Beach Island Foundation of the Arts and Sciences ($2.8m) and National Sailing Hall of Fame Museum Inc ($2.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 78% of the total. Compensation of current officers, directors and key employees was $128k (6.3% of expenses). Other salaries and wages came to $477k. At year end it held assets of $2.8m against liabilities of $1.1m, net assets of $1.7m. It reported 8 employees.