Northeast Maritime Institute Foundation

Analysis

Northeast Maritime Institute Foundation is a registered charity in United States, based in Fairhaven, MA. It received its IRS tax-exemption ruling in August 2015, 11 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2024, Northeast Maritime Institute Foundation reported income of $300k and spending of $90k, leaving 70% of income unspent that year. Across the 3 years on record, from June 2022 to June 2024, income fell from $340k to $300k (-12%), an average of -6.1% a year. The sharpest change came in the year to June 2024, when income rose by 9781%. Over the whole period it spent 69% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Northeast Maritime Institute Foundation sits at the 61st percentile: it is larger than about 61% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 64th percentile within MA. Charities of a similar size with the same main cause include Buffalo and Western New York Soccer Boosters ($300k), Cascadia College Foundation ($300k) and American Institute of Sri Lankan Studies Inc ($300k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 99% of the total. At year end it held assets of $425k against liabilities of $37k, net assets of $389k.