Watermans Community Center

Analysis

Watermans Community Center is a registered charity in United States, based in North Haven, ME. It received its IRS tax-exemption ruling in September 1997, 29 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. 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 September 2023, Watermans Community Center reported income of $1.1m and spending of $825k, leaving 26% of income unspent that year. Across the 5 years on record, from September 2019 to September 2023, income grew from $707k to $1.1m (+58%), an average of +12% a year. The sharpest change came in the year to September 2021, when income rose by 70%. Over the whole period it spent 77% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Watermans Community Center sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 80th percentile, and in the 78th percentile within ME. Charities of a similar size with the same main cause include Concord Carlisle Foundation Inc ($1.1m), Sabeswings ($1.1m) and Roundglass Foundation ($1.1m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 76% and program service revenue 15% of the total. Compensation of current officers, directors and key employees was $84k (10% of expenses). Other salaries and wages came to $358k. At year end it held assets of $3.8m against liabilities of $8,965, net assets of $3.8m. It reported 45 employees.