Seamens Center of Wilmington Inc

Analysis

Seamens Center of Wilmington Inc is a registered charity in United States, based in Wilmington, DE. It received its IRS tax-exemption ruling in June 1989, 37 years ago. 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 August 2023, Seamens Center of Wilmington Inc reported income of $497k and spending of $293k, leaving 41% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $378k to $497k (+32%), an average of +7.1% a year. The sharpest change came in the year to August 2021, when income rose by 94%. Over the whole period it spent 61% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Seamens Center of Wilmington Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 65th percentile within DE. Charities of a similar size with the same main cause include Beaver Area Memorial Library Association ($497k), Disabilities Network of Eastern Connecticut ($498k) and Northwestern Preparatory School ($497k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 89% of the total. Compensation of current officers, directors and key employees was $81k (28% of expenses). Other salaries and wages came to $39k. At year end it held assets of $1.9m against liabilities of $4,437, net assets of $1.9m. It reported 4 employees.