Oceanography Society

Analysis

Oceanography Society is a registered charity in United States, based in Rockville, MD. It received its IRS tax-exemption ruling in November 1989, 37 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 September 2023, Oceanography Society reported income of $340k and spending of $605k, spending 178% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $671k to $340k (-49%), an average of -16% a year. The sharpest change came in the year to September 2022, when income rose by 141%. Over the whole period it spent 106% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Oceanography Society sits at the 62nd percentile: it is larger than about 62% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 64th percentile within MD. Charities of a similar size with the same main cause include Mid Atlantic Conference of Regulatory Utilities Comm Inc ($340k), Impact100 Houston Inc ($340k) and Little League Baseball Inc ($340k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 78% and program service revenue 22% of the total. Compensation of current officers, directors and key employees was $139k (23% of expenses). Other salaries and wages came to $24k. At year end it held assets of $529k against liabilities of $45k, net assets of $483k. It reported 2 employees.