Marine Science Institute

Analysis

Marine Science Institute is a registered charity in United States, based in Redwood City, CA. It received its IRS tax-exemption ruling in June 1971, 55 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 August 2023, Marine Science Institute reported income of $3.7m and spending of $2.3m, leaving 37% of income unspent that year. Across the 5 years on record, from August 2019 to August 2023, income grew from $2.1m to $3.7m (+81%), an average of +16% a year. The sharpest change came in the year to August 2023, when income rose by 57%. Over the whole period it spent 87% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Marine Science Institute sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 90th percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Westchester Parks Foundation Inc ($3.7m), Kingston Self-Help Center Inc Dba Peoples Place ($3.7m) and Pennsylvania Economy League Inc ($3.7m).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 58% and program service revenue 41% of the total. Compensation of current officers, directors and key employees was $120k (5.1% of expenses). Other salaries and wages came to $1.3m. At year end it held assets of $4.6m against liabilities of $193k, net assets of $4.4m. It reported 44 employees.