Connecticut Boat Club

Analysis

Connecticut Boat Club is a registered charity in United States, based in Norwalk, CT. It received its IRS tax-exemption ruling in March 2011, 15 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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 June 2023, Connecticut Boat Club reported income of $538k and spending of $520k, spending 97% of its income. Across the 4 years on record, from June 2020 to June 2023, income grew from $482k to $538k (+12%), an average of +3.7% a year. The sharpest change came in the year to June 2023, when income rose by 26%. Over the whole period it spent 99% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Connecticut Boat Club sits at the 86th percentile: it is larger than about 86% of them. Against every charity in United States with reported income it ranks in the 71st percentile, and in the 69th percentile within CT. Charities of a similar size with the same main cause include Metro Area Tournament Committee ($538k), Little League Baseball Inc ($538k) and Center Grove Aquatic Club Inc ($538k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 16% and program service revenue 80% of the total. Compensation of current officers, directors and key employees was $70k (13% of expenses). At year end it held assets of $425k against liabilities of $33k, net assets of $392k. It reported 1 employees.