Piers Park Sailing Center Inc

Analysis

Piers Park Sailing Center Inc is a registered charity in United States, based in East Boston, MA. It received its IRS tax-exemption ruling in December 1998, 28 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 October 2023, Piers Park Sailing Center Inc reported income of $1.7m and spending of $1.2m, leaving 32% of income unspent that year. Across the 5 years on record, from October 2019 to October 2023, income grew from $637k to $1.7m (+172%), an average of +28% a year. The sharpest change came in the year to October 2021, when income rose by 111%. Over the whole period it spent 77% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Piers Park Sailing Center Inc sits at the 95th percentile: it is larger than about 95% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 84th percentile within MA. Charities of a similar size with the same main cause include Uwg Athletic Foundation Inc ($1.7m), For the Children ($1.7m) and Harper County Community Foundation ($1.7m).

On its Form 990 for the period ending October 2023, revenue came from contributions and grants 79% and program service revenue 20% of the total. Compensation of current officers, directors and key employees was $106k (9.0% of expenses). Other salaries and wages came to $631k. At year end it held assets of $1.5m against liabilities of $25k, net assets of $1.4m. It reported 67 employees.