Mel Fisher Maritime Heritage Society Inc

Analysis

Mel Fisher Maritime Heritage Society Inc is a registered charity in United States, based in Key West, FL. It received its IRS tax-exemption ruling in October 1982, 44 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, Mel Fisher Maritime Heritage Society Inc reported income of $1.9m and spending of $1.5m, leaving 20% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.6m to $1.9m (+19%), an average of +4.4% a year. The sharpest change came in the year to September 2022, when income rose by 68%. Over the whole period it spent 97% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Mel Fisher Maritime Heritage Society Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 87th percentile within FL. Charities of a similar size with the same main cause include Lincoln Theatre Center Foundation ($1.9m), David Herzog Ministries ($1.9m) and Historical Society of Washington DC ($1.9m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 42% and program service revenue 51% of the total. Compensation of current officers, directors and key employees was $179k (12% of expenses). Other salaries and wages came to $308k. At year end it held assets of $5.0m against liabilities of $3.1m, net assets of $1.9m. It reported 19 employees.