Lowells Maritime Foundation Dba Lowells Boat Shop

Analysis

Lowells Maritime Foundation Dba Lowells Boat Shop is a registered charity in United States, based in Amesbury, MA. It received its IRS tax-exemption ruling in March 2007, 19 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, Lowells Maritime Foundation Dba Lowells Boat Shop reported income of $425k and spending of $426k, spending 100% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $435k to $425k (-2.3%), an average of -0.6% a year. Over the whole period it spent 85% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Lowells Maritime Foundation Dba Lowells Boat Shop sits at the 74th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 68th percentile, and in the 68th percentile within MA. Charities of a similar size with the same main cause include Roanoke Ballet Theatre Inc ($425k), Southwestern Social Science Association ($425k) and Basilica Arts Inc ($425k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 56% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $103k (24% of expenses). Other salaries and wages came to $156k. At year end it held assets of $882k against liabilities of $27k, net assets of $855k. It reported 13 employees.