United States Naval Institute

Analysis

United States Naval Institute is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in September 1942, 84 years ago. 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 December 2023, United States Naval Institute reported income of $9.1m and spending of $10.6m, spending 117% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $12.9m to $9.1m (-30%), an average of -8.5% a year. The sharpest change came in the year to December 2020, when income rose by 89%. Over the whole period it spent 62% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, United States Naval Institute sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 94th percentile within MD. Charities of a similar size with the same main cause include Womens Foundation of California ($9.1m), Imagine Housing ($9.1m) and Arizona Community Action Association Inc ($9.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 39% and program service revenue 36% of the total. Compensation of current officers, directors and key employees was $639k (6.1% of expenses). Other salaries and wages came to $4.5m. At year end it held assets of $7.0m against liabilities of $3.8m, net assets of $3.2m. It reported 79 employees.