U S Naval Sea Cadet Corps

Analysis

U S Naval Sea Cadet Corps is a registered charity in United States, based in Arlington, VA. It received its IRS tax-exemption ruling in June 1965, 61 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 December 2022, U S Naval Sea Cadet Corps reported income of $7.8m and spending of $7.7m, spending 98% of its income. Across the 4 years on record, from December 2019 to December 2022, income fell from $9.4m to $7.8m (-17%), an average of -6.1% a year. The sharpest change came in the year to December 2021, when income rose by 41%. Over the whole period it spent 94% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, U S Naval Sea Cadet Corps sits at the 94th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include Austin Waldorf School ($7.8m), East Dakota Educational Cooperative ($7.8m) and N E W Community Clinic ($7.8m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 82% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $211k (2.8% of expenses). Other salaries and wages came to $1.4m. At year end it held assets of $5.2m against liabilities of $1.7m, net assets of $3.5m. It reported 22 employees.