Dry Dock Corporation

Analysis

Dry Dock Corporation is a registered charity in United States, based in San Francisco, CA. It received its IRS tax-exemption ruling in March 2009, 17 years ago. Its declared purposes cover human services, which this site groups under poverty relief. 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, Dry Dock Corporation reported income of $290k and spending of $324k, spending 112% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $352k to $290k (-18%), an average of -4.7% a year. The sharpest change came in the year to December 2020, when income dropped by 37%. Over the whole period it spent 102% of the income it received.

Among 62,758 United States charities whose main cause is poverty relief and that reported income, Dry Dock Corporation sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 61st percentile, and in the 63rd percentile within CA. Charities of a similar size with the same main cause include All Heart Infusion ($290k), Peter Piper Kiddie Nurseries Inc ($291k) and Central Arizona Regional Economic Development Foundation ($290k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 62% and program service revenue 38% of the total. Compensation of current officers, directors and key employees was $60k (18% of expenses). Other salaries and wages came to $59k. At year end it held assets of $57k against liabilities of $3,637, net assets of $53k. It reported 2 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.