Cook Inlet Aquaculture Assoc

Analysis

Cook Inlet Aquaculture Assoc is a registered charity in United States, based in Kenai, AK. It received its IRS tax-exemption ruling in June 1979, 47 years ago. 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 June 2023, Cook Inlet Aquaculture Assoc reported income of $2.2m and spending of $4.1m, spending 190% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $4.4m to $2.2m (-51%), an average of -16% a year. The sharpest change came in the year to June 2021, when income rose by 80%. Over the whole period it spent 159% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Cook Inlet Aquaculture Assoc sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 86th percentile within AK. Charities of a similar size with the same main cause include Massachusetts Association of Community Development Corporation ($2.2m), Sequim Food Bank ($2.2m) and Georgia Charitable Care Network Inc ($2.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 37% and program service revenue 61% of the total. Compensation of current officers, directors and key employees was $107k (2.6% of expenses). Other salaries and wages came to $1.1m. At year end it held assets of $8.9m against liabilities of $18.1m, net assets of -$9.2m. It reported 43 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.