Catboat Association Inc

Analysis

Catboat Association Inc is a registered charity in United States, based in Bristol, RI. It received its IRS tax-exemption ruling in December 1984, 42 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 2024, Catboat Association Inc reported income of $63k and spending of $73k, spending 117% of what it took in. Across the 3 years on record, from September 2022 to September 2024, income grew from $58k to $63k (+7.6%), an average of +3.7% a year. Over the whole period it spent 116% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Catboat Association Inc sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 25th percentile, and in the 22nd percentile within RI. Charities of a similar size with the same main cause include Cincinnati Steam Baseball Club Inc ($63k), Andover Football League Incorporated ($63k) and Triton Youth Basketball Inc ($63k).

On its Form 990-EZ for the period ending September 2024, revenue came from contributions and grants 9.9% and program service revenue 31% of the total. At year end it held assets of $16k against liabilities of $47, net assets of $15k.

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.