American Merchant Marine Veterans Inc

Analysis

American Merchant Marine Veterans Inc is a registered charity in United States, based in Charlotte, NC. It received its IRS tax-exemption ruling in December 2021, 5 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. 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 June 2024, American Merchant Marine Veterans Inc reported income of $125k and spending of $147k, spending 118% of what it took in. Across the 3 years on record, from June 2022 to June 2024, income fell from $186k to $125k (-32%), an average of -18% a year. The sharpest change came in the year to June 2023, when income dropped by 53%. Over the whole period it spent 120% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, American Merchant Marine Veterans Inc sits at the 42nd percentile: it is larger than about 42% of them. Against every charity in United States with reported income it ranks in the 43rd percentile, and in the 41st percentile within NC. Charities of a similar size with the same main cause include Thiensville-Mequon Rotary Foundation Inc ($125k), Pathfinder Development Corporation ($125k) and Horse Empowered Learning Programs Inc ($125k).

On its Form 990-EZ for the period ending June 2024, revenue came from contributions and grants 58% and program service revenue 23% of the total. At year end it held assets of $279k against liabilities of $22k, net assets of $257k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.