Gulf Specimen Marine Laboratories Inc

Analysis

Gulf Specimen Marine Laboratories Inc is a registered charity in United States, based in Panacea, FL. It received its IRS tax-exemption ruling in January 1981, 45 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 December 2023, Gulf Specimen Marine Laboratories Inc reported income of $1.3m and spending of $1.2m, spending 97% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $792k to $1.3m (+58%), an average of +12% a year. The sharpest change came in the year to December 2021, when income rose by 27%. Over the whole period it spent 86% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Gulf Specimen Marine Laboratories Inc sits at the 88th percentile: it is larger than about 88% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 84th percentile within FL. Charities of a similar size with the same main cause include National Monuments Foundation Inc ($1.3m), Philadelphia Orchestra Association Trust -Endowment Fund- ($1.3m) and Aci Center of Excellence for Carbon Neutral Concrete ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 37% and program service revenue 57% of the total. Compensation of current officers, directors and key employees was $84k (6.9% of expenses). Other salaries and wages came to $362k. At year end it held assets of $1.7m against liabilities of $254k, net assets of $1.4m. It reported 30 employees.