Ocean Discovery League Inc

Analysis

Ocean Discovery League Inc is a registered charity in United States, based in Saunderstown, RI. It received its IRS tax-exemption ruling in February 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 (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Ocean Discovery League Inc reported income of $1.8m and spending of $1.3m, leaving 27% of income unspent that year. Across the 3 years on record, from December 2021 to December 2023, income grew from $989k to $1.8m (+85%), an average of +36% a year. The sharpest change came in the year to December 2023, when income rose by 1190%. Over the whole period it spent 64% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Ocean Discovery League Inc sits at the 91st percentile: it is larger than about 91% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 81st percentile within RI. Charities of a similar size with the same main cause include Boulder Museum of Contemporary Art ($1.8m), Connecticut Childrens Museum ($1.8m) and Mammoth Site of Hot Springs South Dakota Inc ($1.8m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 92% and program service revenue 8.2% of the total. Compensation of current officers, directors and key employees was $89k (6.7% of expenses). At year end it held assets of $1.3m against liabilities of $219k, net assets of $1.1m. It reported 1 employees.