12m Yacht Development Foundation Inc

Analysis

12m Yacht Development Foundation Inc is a registered charity in United States, based in Southport, CT. It received its IRS tax-exemption ruling in March 1996, 30 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 (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, 12m Yacht Development Foundation Inc reported income of $837k and spending of $186k, leaving 78% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $197k to $837k (+325%), an average of +44% a year. The sharpest change came in the year to December 2023, when income rose by 1178%. Over the whole period it spent 54% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, 12m Yacht Development Foundation Inc sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 75th percentile within CT. Charities of a similar size with the same main cause include Society for Social Studies of Science ($837k), Historic Macon Foundation Inc ($838k) and Shakespeare in Delaware Park Inc ($837k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. At year end it held assets of $651k against liabilities of $386k, net assets of $265k.