Norwalk Seaport Association Inc

Analysis

Norwalk Seaport Association Inc is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in March 1980, 46 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Norwalk Seaport Association Inc reported income of $478k and spending of $490k, spending 103% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $546k to $478k (-12%), an average of -3.2% a year. The sharpest change came in the year to December 2021, when income rose by 333%. Over the whole period it spent 56% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Norwalk Seaport Association Inc sits at the 76th percentile: it is larger than about 76% of them. Against every charity in United States with reported income it ranks in the 69th percentile, and in the 67th percentile within CT. Charities of a similar size with the same main cause include Sculpturewalk Inc ($478k), Fame Center ($478k) and Leadership Charlotte ($478k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 34% and program service revenue 46% of the total. Compensation of current officers, directors and key employees was $86k (17% of expenses). Other salaries and wages came to $77k. At year end it held assets of $2.3m against liabilities of $3,900, net assets of $2.3m. It reported 21 employees.