University Corporation at Monterey Bay

Analysis

University Corporation at Monterey Bay is a registered charity in United States, based in Monterey, CA. It received its IRS tax-exemption ruling in September 1995, 31 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a organisation supporting a government-owned college or university under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, University Corporation at Monterey Bay reported income of $79.1m and spending of $76.1m, spending 96% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $61.2m to $79.1m (+29%), an average of +8.9% a year. The sharpest change came in the year to June 2022, when income rose by 48%. Over the whole period it spent 106% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, University Corporation at Monterey Bay sits at the 99th percentile: it is larger than about 99% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within CA. Charities of a similar size with the same main cause include Lasell University ($79.0m), Uncommon Schools Inc ($79.1m) and Mississippi Action for Progress Inc ($78.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 35% and program service revenue 60% of the total. Other salaries and wages came to $14.5m. At year end it held assets of $223.6m against liabilities of $153.4m, net assets of $70.2m. It reported 912 employees.