Reefs Unknown Inc

Analysis

Reefs Unknown Inc is a registered charity in United States, based in Charlotte Amalie, VI. It received its IRS tax-exemption ruling in November 2021, 5 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, Reefs Unknown Inc reported income of $498k and spending of $21k, leaving 96% of income unspent that year. Across the 2 years on record, from December 2022 to December 2023, income fell from $520k to $498k (-4.1%), an average of -4.1% a year. Over the whole period it spent 3.1% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Reefs Unknown Inc sits at the 77th percentile: it is larger than about 77% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 75th percentile within VI. Charities of a similar size with the same main cause include Studio Route 29 ($498k), Rock Cats Rescue Inc ($498k) and German American Society ($498k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 94% of the total. At year end it held assets of $1.0m against liabilities of $0, net assets of $1.0m.