Waterfront Historic Area League of New Bedford Inc

Analysis

Waterfront Historic Area League of New Bedford Inc is a registered charity in United States, based in New Bedford, MA. It received its IRS tax-exemption ruling in December 1963, 63 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Waterfront Historic Area League of New Bedford Inc reported income of $1.1m and spending of $1.1m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $1.5m to $1.1m (-27%), an average of -7.7% a year. The sharpest change came in the year to December 2020, when income dropped by 54%. Over the whole period it spent 99% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Waterfront Historic Area League of New Bedford Inc sits at the 93rd percentile: it is larger than about 93% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 79th percentile within MA. Charities of a similar size with the same main cause include Payette Lakes Ski Club Inc ($1.1m), Lake Michigan Junior Golfassociation Inc ($1.1m) and Peace CDC Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 95% and program service revenue 0.8% of the total. Compensation of current officers, directors and key employees was $87k (7.7% of expenses). Other salaries and wages came to $101k. At year end it held assets of $2.1m against liabilities of $913k, net assets of $1.2m. It reported 5 employees.

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.