Altasea at the Port of Los Angeles

Analysis

Altasea at the Port of Los Angeles is a registered charity in United States, based in San Pedro, CA. It received its IRS tax-exemption ruling in May 2014, 12 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 December 2023, Altasea at the Port of Los Angeles reported income of $15.2m and spending of $4.5m, leaving 70% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $5.5m to $15.2m (+174%), an average of +29% a year. The sharpest change came in the year to December 2023, when income rose by 174%. Over the whole period it spent 40% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Altasea at the Port of Los Angeles sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within CA. Charities of a similar size with the same main cause include J Craig Venter Institute Inc ($15.1m), Shakespeare Theatre ($15.2m) and Houston Public Media Foundation ($15.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% and program service revenue 5.2% of the total. Compensation of current officers, directors and key employees was $874k (19% of expenses). Other salaries and wages came to $756k. It paid $223k in professional fundraising fees. At year end it held assets of $35.2m against liabilities of $10.3m, net assets of $24.9m. It reported 20 employees.