The Perry Institute for Marine Science Inc

Analysis

The Perry Institute for Marine Science Inc is a registered charity in United States, based in Waitsfield, VT. It received its IRS tax-exemption ruling in March 1971, 55 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 December 2022, The Perry Institute for Marine Science Inc reported income of $2.3m and spending of $1.7m, leaving 27% of income unspent that year. Across the 4 years on record, from December 2019 to December 2022, income grew from $841k to $2.3m (+177%), an average of +40% a year. The sharpest change came in the year to December 2021, when income rose by 110%. Over the whole period it spent 74% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Perry Institute for Marine Science Inc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within VT. Charities of a similar size with the same main cause include West Virginia Humanities Council Inc ($2.3m), Fresta Valley Christian School Ltd ($2.3m) and Faculty-Student Assoc of State University Maritime College Inc ($2.3m).

On its Form 990 for the period ending December 2022, revenue came from contributions and grants 95% and program service revenue 5.4% of the total. Other salaries and wages came to $687k. At year end it held assets of $1.8m against liabilities of $58k, net assets of $1.8m. It reported 7 employees.