Beneath the Waves Inc

Analysis

Beneath the Waves Inc is a registered charity in United States, based in Charlestown, MA. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover animal-related, which this site groups under animals. 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, Beneath the Waves Inc reported income of $1.4m and spending of $1.2m, spending 91% of its income. Across the 6 years on record, from December 2018 to December 2023, income grew from $287k to $1.4m (+370%), an average of +36% a year. The sharpest change came in the year to December 2019, when income rose by 378%. Over the whole period it spent 96% of the income it received.

Among 14,470 United States charities whose main cause is animals and that reported income, Beneath the Waves Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Heartland Humane Society ($1.3m), Reigning Grace Ranch ($1.4m) and Eau Claire Community Humane Association Inc ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $100k (8.1% of expenses). Other salaries and wages came to $219k. At year end it held assets of $405k against liabilities of $71k, net assets of $334k. It reported 7 employees.