Connecticut River Foundation at Steamboat Dock Inc

Analysis

Connecticut River Foundation at Steamboat Dock Inc is a registered charity in United States, based in Essex, CT. It received its IRS tax-exemption ruling in December 1974, 52 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 June 2024, Connecticut River Foundation at Steamboat Dock Inc reported income of $1.5m and spending of $1.3m, spending 87% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $1.1m to $1.5m (+32%), an average of +7.2% a year. The sharpest change came in the year to June 2021, when income rose by 41%. Over the whole period it spent 79% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Connecticut River Foundation at Steamboat Dock Inc sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 83rd percentile, and in the 82nd percentile within CT. Charities of a similar size with the same main cause include Young Audiences of Oregon Inc ($1.5m), American Musicological Society Inc ($1.5m) and Dryad ($1.5m).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 39% and program service revenue 34% of the total. Compensation of current officers, directors and key employees was $120k (9.5% of expenses). Other salaries and wages came to $473k. At year end it held assets of $7.7m against liabilities of $242k, net assets of $7.5m. It reported 38 employees.