Suny Maritime Foundation Inc

Analysis

Suny Maritime Foundation Inc is a registered charity in United States, based in Bronx, NY. It received its IRS tax-exemption ruling in June 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Suny Maritime Foundation Inc reported income of $2.8m and spending of $2.2m, leaving 22% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $11.5m to $2.8m (-76%), an average of -30% a year. The sharpest change came in the year to June 2020, when income dropped by 75%. Over the whole period it spent 46% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Suny Maritime Foundation Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 86th percentile within NY. Charities of a similar size with the same main cause include The Extra Mile Education Foundation Inc ($2.8m), St Stephens Academy ($2.8m) and Cincinnati Ohio Electrical Joint Apprenticeship & Training Trust Fu ($2.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 90% of the total. At year end it held assets of $14.1m against liabilities of $20k, net assets of $14.0m.