Naval Submarine League

Analysis

Naval Submarine League is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in July 1985, 41 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 March 2023, Naval Submarine League reported income of $2.0m and spending of $1.9m, spending 93% of its income. Across the 5 years on record, from March 2019 to March 2023, income grew from $1.7m to $2.0m (+19%), an average of +4.3% a year. Over the whole period it spent 76% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Naval Submarine League sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 87th percentile within VA. Charities of a similar size with the same main cause include Girls Incorporated of Worcester ($2.0m), Van Ness Recovery House ($2.0m) and Rolling Start Incorporated ($2.0m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 11% and program service revenue 85% of the total. Compensation of current officers, directors and key employees was $226k (12% of expenses). Other salaries and wages came to $386k. At year end it held assets of $4.1m against liabilities of $1.2m, net assets of $2.9m. It reported 15 employees.