Mote Marine Laboratory

Analysis

Mote Marine Laboratory is a registered charity in United States, based in Sarasota, FL. It received its IRS tax-exemption ruling in July 1977, 49 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 September 2023, Mote Marine Laboratory reported income of $55.0m and spending of $36.3m, leaving 34% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $28.1m to $55.0m (+96%), an average of +18% a year. The sharpest change came in the year to September 2021, when income rose by 26%. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mote Marine Laboratory sits at the 99th percentile: it is one of the largest 1% in its cause. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within FL. Charities of a similar size with the same main cause include Volunteers of America Inc ($54.9m), Unidosus ($55.0m) and McKenzie County Healthcare Systems Inc ($54.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 38% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $582k (1.6% of expenses). Other salaries and wages came to $15.2m. At year end it held assets of $137.8m against liabilities of $34.3m, net assets of $103.6m. It reported 330 employees.