Oceanic Society Expeditions

Analysis

Oceanic Society Expeditions is a registered charity in United States, based in Ross, CA. It received its IRS tax-exemption ruling in January 1990, 36 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 June 2023, Oceanic Society Expeditions reported income of $3.9m and spending of $3.5m, spending 90% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $2.9m to $3.9m (+33%), an average of +9.9% a year. The sharpest change came in the year to June 2022, when income rose by 143%. Over the whole period it spent 104% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Oceanic Society Expeditions 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 91st percentile, and in the 91st percentile within CA. Charities of a similar size with the same main cause include Leeway School ($3.9m), Park Village Apartments Inc ($3.9m) and Foundation for Orange County Public Schools Inc ($3.9m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 8.7% and program service revenue 73% of the total. Other salaries and wages came to $909k. At year end it held assets of $2.5m against liabilities of $1.2m, net assets of $1.2m. It reported 22 employees.