Narragansett Boat Club

Analysis

Narragansett Boat Club is a registered charity in United States, based in Providence, RI. It received its IRS tax-exemption ruling in January 1984, 42 years ago. 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, Narragansett Boat Club reported income of $652k and spending of $552k, spending 85% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $561k to $652k (+16%), an average of +3.8% a year. The sharpest change came in the year to December 2021, when income rose by 60%. Over the whole period it spent 77% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Narragansett Boat Club sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 74th percentile, and in the 70th percentile within RI. Charities of a similar size with the same main cause include Meramec Community Mission Inc ($652k), Gonzales County Health Foundation Inc ($652k) and Academy of Brain-Based Learning Environments ($651k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 72% of the total. Other salaries and wages came to $188k. At year end it held assets of $1.6m against liabilities of $205k, net assets of $1.4m. It reported 32 employees.