Gig Harbor Boatshop

Analysis

Gig Harbor Boatshop is a registered charity in United States, based in Gig Harbor, WA. It received its IRS tax-exemption ruling in March 2008, 18 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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, Gig Harbor Boatshop reported income of $199k and spending of $174k, spending 88% of its income. Across the 5 years on record, from December 2019 to December 2023, income fell from $212k to $199k (-6.2%), an average of -1.6% a year. The sharpest change came in the year to December 2023, when income rose by 115%. Over the whole period it spent 91% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Gig Harbor Boatshop sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 54th percentile, and in the 51st percentile within WA. Charities of a similar size with the same main cause include Southeast Texas Circle of Hope Inc ($199k), Campaign Corporation ($199k) and Middlesex Community College Foundation Incorporated ($199k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 77% and program service revenue 23% of the total. Other salaries and wages came to $74k. At year end it held assets of $563k against liabilities of $25k, net assets of $538k. It reported 10 employees.