Advaita Society

Analysis

Advaita Society is a registered charity in United States, based in Watsonville, CA. It received its IRS tax-exemption ruling in December 1975, 51 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 September 2023, Advaita Society reported income of $3.1m and spending of $3.8m, spending 125% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income grew from $3.0m to $3.1m (+1.9%), an average of +0.5% a year. The sharpest change came in the year to September 2022, when income rose by 105%. Over the whole period it spent 134% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Advaita Society sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 90th percentile within CA. Charities of a similar size with the same main cause include The Hasten Hebrew Academy of Indianapolis Inc ($3.1m), American Friends of Chabad of Thailand Inc ($3.1m) and Straight Ahead Ministries Inc ($3.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 20% and program service revenue 68% of the total. Compensation of current officers, directors and key employees was $301k (7.8% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $8.8m against liabilities of $516k, net assets of $8.3m. It reported 78 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.