Head of the Charles Regatta Inc

Analysis

Head of the Charles Regatta Inc is a registered charity in United States, based in Melrose, MA. It received its IRS tax-exemption ruling in September 1997, 29 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 November 2023, Head of the Charles Regatta Inc reported income of $3.8m and spending of $4.9m, spending 128% of what it took in. Across the 5 years on record, from November 2019 to November 2023, income grew from $3.6m to $3.8m (+8.0%), an average of +1.9% a year. The sharpest change came in the year to November 2021, when income rose by 647%. Over the whole period it spent 105% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Head of the Charles Regatta 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 91st percentile, and in the 89th percentile within MA. Charities of a similar size with the same main cause include Eden Village Camp Inc ($3.8m), Mlb-Mlbpa Youth Development Foundation ($3.8m) and American Philatelic Society ($3.8m).

On its Form 990 for the period ending November 2023, revenue came from contributions and grants 4.2% and program service revenue 92% of the total. Compensation of current officers, directors and key employees was $464k (9.5% of expenses). Other salaries and wages came to $386k. At year end it held assets of $9.7m against liabilities of $1.8m, net assets of $8.0m. It reported 7 employees.