Santa Monica Pier Corporation

Analysis

Santa Monica Pier Corporation is a registered charity in United States, based in Santa Monica, CA. It received its IRS tax-exemption ruling in June 1984, 42 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, Santa Monica Pier Corporation reported income of $1.6m and spending of $1.7m, spending 102% of its income. Across the 5 years on record, from June 2019 to June 2023, income fell from $2.8m to $1.6m (-43%), an average of -13% a year. The sharpest change came in the year to June 2022, when income rose by 134%. Over the whole period it spent 108% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Santa Monica Pier Corporation sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 85th percentile within CA. Charities of a similar size with the same main cause include Boston Area Youth Soccer League Inc ($1.6m), RHF Housing Inc ($1.6m) and Helping and Lending Outreach Support ($1.6m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 84% of the total. Compensation of current officers, directors and key employees was $211k (13% of expenses). Other salaries and wages came to $416k. At year end it held assets of $527k against liabilities of $511k, net assets of $16k. It reported 7 employees.