American Society of Naval Engineers

Analysis

American Society of Naval Engineers is a registered charity in United States, based in Alexandria, VA. It received its IRS tax-exemption ruling in August 1947, 79 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 2022, American Society of Naval Engineers reported income of $2.0m and spending of $2.3m, spending 116% of what it took in. Across the 4 years on record, from June 2019 to June 2022, income fell from $3.9m to $2.0m (-49%), an average of -20% a year. The sharpest change came in the year to June 2022, when income rose by 81%. 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, American Society of Naval Engineers sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 86th percentile, and in the 86th percentile within VA. Charities of a similar size with the same main cause include The National Institute of Flamenco ($2.0m), National Youngarts Foundation Supporting Organization ($2.0m) and Sociedade Filarmonica Nova Alianca ($2.0m).

On its Form 990 for the period ending June 2022, revenue came from contributions and grants 17% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $335k (14% of expenses). Other salaries and wages came to $352k. At year end it held assets of $2.0m against liabilities of $999k, net assets of $975k. It reported 12 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.