Prince William Sound Aquaculture Corp

Analysis

Prince William Sound Aquaculture Corp is a registered charity in United States, based in Cordova, AK. It received its IRS tax-exemption ruling in April 1975, 51 years ago. 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 March 2023, Prince William Sound Aquaculture Corp reported income of $20.9m and spending of $17.0m, spending 82% of its income. Across the 4 years on record, from March 2020 to March 2023, income grew from $15.3m to $20.9m (+36%), an average of +11% a year. The sharpest change came in the year to March 2022, when income rose by 28%. Over the whole period it spent 84% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Prince William Sound Aquaculture Corp sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 97th percentile, and in the 98th percentile within AK. Charities of a similar size with the same main cause include Bayview Hunters Point Foundation for Community Improvement Inc ($20.8m), McCall Foundation Inc ($20.9m) and Massachusetts Military Support Foundation Inc ($20.8m).

On its Form 990 for the period ending March 2023, revenue came from contributions and grants 11% and program service revenue 88% of the total. Other salaries and wages came to $4.9m. At year end it held assets of $45.9m against liabilities of $15.5m, net assets of $30.4m. It reported 166 employees.