The Carpenters Boatshop

Analysis

The Carpenters Boatshop is a registered charity in United States, based in Pemaquid, ME. It received its IRS tax-exemption ruling in April 1984, 42 years ago. 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 August 2023, The Carpenters Boatshop reported income of $610k and spending of $553k, spending 91% of its income. Across the 5 years on record, from August 2019 to August 2023, income grew from $405k to $610k (+51%), an average of +11% a year. The sharpest change came in the year to August 2022, when income rose by 36%. Over the whole period it spent 100% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, The Carpenters Boatshop sits at the 71st percentile: it is larger than about 71% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 69th percentile within ME. Charities of a similar size with the same main cause include St Paul Village Inc ($610k), Skinner Leadership Institute Inc ($610k) and Leadership Oklahoma City Inc ($610k).

On its Form 990 for the period ending August 2023, revenue came from contributions and grants 69% and program service revenue 24% of the total. Compensation of current officers, directors and key employees was $51k (9.3% of expenses). Other salaries and wages came to $107k. At year end it held assets of $2.2m against liabilities of $3,550, net assets of $2.2m. It reported 9 employees.