Marine Technology Society Inc

Analysis

Marine Technology Society Inc is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in August 1969, 57 years ago. Its declared purposes cover science and technology, which this site groups under arts, culture, heritage and science. 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 June 2023, Marine Technology Society Inc reported income of $2.3m and spending of $2.6m, spending 112% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.9m to $2.3m (-20%), an average of -5.3% a year. The sharpest change came in the year to June 2022, when income rose by 283%. Over the whole period it spent 111% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Marine Technology Society Inc sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 69th percentile within DC. Charities of a similar size with the same main cause include Maui County Community Television Inc ($2.3m), American Conference of Governmental Industrial Hygienists Inc ($2.3m) and Ocean Community United Theatre Inc ($2.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.9% and program service revenue 83% of the total. Compensation of current officers, directors and key employees was $237k (9.2% of expenses). Other salaries and wages came to $339k. At year end it held assets of $7.4m against liabilities of $516k, net assets of $6.8m. It reported 4 employees.