Tin Can Sailors Inc

Analysis

Tin Can Sailors Inc is a registered charity in United States, based in Somerset, MA. It received its IRS tax-exemption ruling in May 1983, 43 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 September 2023, Tin Can Sailors Inc reported income of $489k and spending of $728k, spending 149% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $665k to $489k (-27%), an average of -7.4% a year. The sharpest change came in the year to September 2023, when income dropped by 26%. Over the whole period it spent 112% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Tin Can Sailors Inc sits at the 68th percentile: it is larger than about 68% of them. Against every charity in United States with reported income it ranks in the 70th percentile, and in the 70th percentile within MA. Charities of a similar size with the same main cause include Accord Network ($489k), El Cerrito Pre-School Center ($489k) and United Church Residences of Clarksdale Mississippi Inc ($489k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 80% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $120k (16% of expenses). Other salaries and wages came to $140k. At year end it held assets of $670k against liabilities of $374k, net assets of $296k. It reported 8 employees.