Patuxent Partnership Inc

Analysis

Patuxent Partnership Inc is a registered charity in United States, based in Lexington PK, MD. It received its IRS tax-exemption ruling in April 2009, 17 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 September 2023, Patuxent Partnership Inc reported income of $7.5m and spending of $7.4m, spending 99% of its income. Across the 4 years on record, from September 2020 to September 2023, income grew from $6.4m to $7.5m (+16%), an average of +5.2% a year. The sharpest change came in the year to September 2021, when income rose by 20%. Over the whole period it spent 100% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Patuxent Partnership Inc sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 94th percentile, and in the 93rd percentile within MD. Charities of a similar size with the same main cause include SFPBS Foundation Inc ($7.5m), McWane Science Center ($7.5m) and Philos Project Inc ($7.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 0.9% and program service revenue 98% of the total. Compensation of current officers, directors and key employees was $178k (2.4% of expenses). Other salaries and wages came to $4.6m. At year end it held assets of $3.9m against liabilities of $1.6m, net assets of $2.4m. It reported 44 employees.