University of Santa Monica

Analysis

University of Santa Monica is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in February 1977, 49 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending August 2023, University of Santa Monica reported income of $1.5m and spending of $2.3m, spending 154% of what it took in. Across the 5 years on record, from August 2019 to August 2023, income fell from $4.1m to $1.5m (-63%), an average of -22% a year. The sharpest change came in the year to August 2021, when income rose by 100%. Over the whole period it spent 109% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University of Santa Monica sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 84th percentile within CA. Charities of a similar size with the same main cause include Summit Academy Secondary School - Akron ($1.5m), College Association of the Niagara County Community College Inc ($1.5m) and Ames Free Library of Easton Inc ($1.5m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 30% and program service revenue 67% of the total. Compensation of current officers, directors and key employees was $1.3m (55% of expenses). Other salaries and wages came to $280k. At year end it held assets of $8.3m against liabilities of $434k, net assets of $7.9m. It reported 17 employees.