Caribbean Coastal Ocean Observing System Inc

Analysis

Caribbean Coastal Ocean Observing System Inc is a registered charity in United States, based in Lajas, PR. It received its IRS tax-exemption ruling in March 2017, 9 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 (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 2023, Caribbean Coastal Ocean Observing System Inc reported income of $3.3m and spending of $3.2m, spending 99% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $410k to $3.3m (+695%), an average of +68% a year. The sharpest change came in the year to December 2022, when income rose by 316%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Caribbean Coastal Ocean Observing System Inc sits at the 94th 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 85th percentile within PR. Charities of a similar size with the same main cause include Victor Association of Cultural and Performing Arts Inc ($3.3m), Austin Lyric Opera ($3.3m) and Phoenix Theatre Inc ($3.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $250k (7.7% of expenses). Other salaries and wages came to $249k. At year end it held assets of $1.0m against liabilities of $502k, net assets of $506k. It reported 9 employees.