Florida Oceanographic Society Inc

Analysis

Florida Oceanographic Society Inc is a registered charity in United States, based in Stuart, FL. It received its IRS tax-exemption ruling in September 1966, 60 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, Florida Oceanographic Society Inc reported income of $3.5m and spending of $3.3m, spending 96% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $3.6m to $3.5m (-3.6%), an average of -0.9% a year. The sharpest change came in the year to September 2022, when income dropped by 26%. Over the whole period it spent 65% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Florida Oceanographic Society Inc sits at the 95th percentile: it is larger than about 94% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within FL. Charities of a similar size with the same main cause include Carriage Town Ministries ($3.5m), Oolite Arts Inc ($3.5m) and Sitar Arts Center ($3.5m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 72% and program service revenue 19% of the total. Compensation of current officers, directors and key employees was $386k (12% of expenses). Other salaries and wages came to $1.5m. At year end it held assets of $11.1m against liabilities of $175k, net assets of $10.9m. It reported 50 employees.