Centerboard Inc

Analysis

Centerboard Inc is a registered charity in United States, based in Lynn, MA. It received its IRS tax-exemption ruling in July 1989, 37 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, Centerboard Inc reported income of $26.2m and spending of $22.9m, spending 88% of its income. Across the 5 years on record, from June 2019 to June 2023, income grew from $15.5m to $26.2m (+69%), an average of +14% a year. The sharpest change came in the year to June 2023, when income rose by 39%. Over the whole period it spent 90% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Centerboard Inc sits at the 98th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 98th percentile, and in the 97th percentile within MA. Charities of a similar size with the same main cause include Catholic Charities of the Diocese of Joliet ($26.2m), Chaddock Attachment and Trauma Services ($26.2m) and Catholic Social Services ($26.2m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 4.7% and program service revenue 95% of the total. Compensation of current officers, directors and key employees was $394k (1.7% of expenses). Other salaries and wages came to $7.7m. At year end it held assets of $29.2m against liabilities of $15.6m, net assets of $13.6m. It reported 221 employees.