Hingham Maritime Center Inc

Analysis

Hingham Maritime Center Inc is a registered charity in United States, based in Hingham, MA. It received its IRS tax-exemption ruling in June 1971, 55 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 September 2023, Hingham Maritime Center Inc reported income of $381k and spending of $419k, spending 110% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $494k to $381k (-23%), an average of -6.3% a year. The sharpest change came in the year to September 2021, when income rose by 63%. Over the whole period it spent 88% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Hingham Maritime Center Inc sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 67th percentile within MA. Charities of a similar size with the same main cause include Western Michigan University Skating Club ($381k), Clark County Youth Football League ($381k) and Minot Indoor Rodeo Inc ($381k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 19% and program service revenue 82% of the total. Other salaries and wages came to $208k. At year end it held assets of $494k against liabilities of $0, net assets of $494k. It reported 42 employees.