American Oil Chemists Society

Analysis

American Oil Chemists Society is a registered charity in United States, based in Champaign, IL. It received its IRS tax-exemption ruling in January 1965, 61 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 Oil Chemists Society reported income of $5.4m and spending of $5.7m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.0m to $5.4m (+6.7%), an average of +1.6% a year. The sharpest change came in the year to December 2021, when income rose by 26%. 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 Oil Chemists Society sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within IL. Charities of a similar size with the same main cause include Lockwood-Mathews Mansion Museum of Norwalk Inc ($5.4m), Young Audiences of Louisiana Inc ($5.4m) and General Society of Mayflower Descendants ($5.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 1.2% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $247k (4.3% of expenses). Other salaries and wages came to $2.0m. At year end it held assets of $3.9m against liabilities of $2.0m, net assets of $2.0m. It reported 33 employees.