Brooklyn Boatworks Inc

Analysis

Brooklyn Boatworks Inc is a registered charity in United States, based in Brooklyn, NY. It received its IRS tax-exemption ruling in December 2010, 16 years ago. Its declared purposes cover education, which this site groups under education and training. 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 2023, Brooklyn Boatworks Inc reported income of $896k and spending of $813k, spending 91% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $536k to $896k (+67%), an average of +19% a year. The sharpest change came in the year to June 2023, when income rose by 43%. Over the whole period it spent 92% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Brooklyn Boatworks Inc sits at the 75th percentile: it is larger than about 74% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 74th percentile within NY. Charities of a similar size with the same main cause include United Christian Academy ($895k), Sun Prairie Public Library Foundation Inc ($896k) and Literacy Green Bay Inc ($895k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 86% and program service revenue 14% of the total. Compensation of current officers, directors and key employees was $162k (20% of expenses). Other salaries and wages came to $332k. It paid $83k in professional fundraising fees. At year end it held assets of $433k against liabilities of $57k, net assets of $376k. It reported 31 employees.