Vesper Boat Club Inc

Analysis

Vesper Boat Club Inc is a registered charity in United States, based in Philadelphia, PA. It received its IRS tax-exemption ruling in December 1974, 52 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, Vesper Boat Club Inc reported income of $410k and spending of $301k, leaving 26% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $400k to $410k (+2.5%), an average of +0.6% a year. The sharpest change came in the year to December 2021, when income rose by 43%. Over the whole period it spent 89% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Vesper Boat Club Inc sits at the 65th percentile: it is larger than about 65% of them. Against every charity in United States with reported income it ranks in the 67th percentile, and in the 65th percentile within PA. Charities of a similar size with the same main cause include The Charles Lea Center Foundation Inc ($410k), Lutheran Home Albemarle Property ($410k) and Central Callaway Fire Protection District ($410k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 33% and program service revenue 62% of the total. Other salaries and wages came to $71k. At year end it held assets of $1.5m against liabilities of $0, net assets of $1.5m. It reported 2 employees.