Great Lakes Boat Building School

Analysis

Great Lakes Boat Building School is a registered charity in United States, based in Cedarville, MI. It received its IRS tax-exemption ruling in September 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Great Lakes Boat Building School reported income of $1.7m and spending of $1.4m, leaving 21% of income unspent that year. Across the 5 years on record, from December 2019 to June 2023, income grew from $480k to $1.7m (+264%), an average of +38% a year. The sharpest change came in the year to June 2023, when income rose by 183%. Over the whole period it spent 90% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Great Lakes Boat Building School sits at the 81st percentile: it is larger than about 81% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 85th percentile within MI. Charities of a similar size with the same main cause include Montessori Connection NFP ($1.7m), Summers-Knoll School ($1.7m) and Alumnae Association of Mount Holyoke College Inc ($1.7m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 65% and program service revenue 30% of the total. Compensation of current officers, directors and key employees was $151k (11% of expenses). Other salaries and wages came to $472k. At year end it held assets of $2.5m against liabilities of $1.2m, net assets of $1.3m. It reported 17 employees.