Advaita Society

Analysis

Advaita Society is a registered charity in United States, based in Watsonville, CA. It received its IRS tax-exemption ruling in December 1975, 51 years ago. Its declared purposes cover education, which this site groups under education and training. 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 June 2023, Advaita Society reported income of $4.9m and spending of $5.2m, spending 106% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $5.2m to $4.9m (-5.9%), an average of -1.5% a year. The sharpest change came in the year to June 2020, when income dropped by 22%. Over the whole period it spent 104% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Advaita Society sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 92nd percentile within CA. Charities of a similar size with the same main cause include Amite Independent School ($4.9m), Anne Arundel Community College Foundation Inc ($4.9m) and Learner-Centered Collaborative ($4.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 14% and program service revenue 86% of the total. Compensation of current officers, directors and key employees was $267k (5.1% of expenses). Other salaries and wages came to $2.2m. At year end it held assets of $3.7m against liabilities of $1.7m, net assets of $2.0m. It reported 91 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.