Nauticus

Analysis

Nauticus is a registered charity in United States, based in Norfolk, VA. It received its IRS tax-exemption ruling in May 1989, 37 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 June 2023, Nauticus reported income of $9.3m and spending of $10.2m, spending 109% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income grew from $2.8m to $9.3m (+230%), an average of +35% a year. The sharpest change came in the year to June 2021, when income rose by 118%. 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, Nauticus sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 95th percentile, and in the 95th percentile within VA. Charities of a similar size with the same main cause include Montclair Child Development Center ($9.3m), Metropolitan Economic Development Association ($9.3m) and Ascension Living Via Christi Village Pittsburg ($9.3m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 72% and program service revenue 17% of the total. Other salaries and wages came to $1.3m. At year end it held assets of $11.3m against liabilities of $567k, net assets of $10.7m. It reported 120 employees.