Lake Superior Tall Ships

Analysis

Lake Superior Tall Ships is a registered charity in United States, based in Bayfield, WI. It received its IRS tax-exemption ruling in October 2014, 12 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 (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, Lake Superior Tall Ships reported income of $140k and spending of $156k, spending 112% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income grew from $95k to $140k (+47%), an average of +48% a year. The sharpest change came in the year to December 2023, when income rose by 47%. Over the whole period it spent 119% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Lake Superior Tall Ships sits at the 58th percentile: it is larger than about 58% of them. Against every charity in United States with reported income it ranks in the 45th percentile, and in the 45th percentile within WI. Charities of a similar size with the same main cause include Pineview Dixie Youth League Inc ($140k), Janesville Youth Football Inc ($140k) and Heart of Illinois ($140k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 60% and program service revenue 40% of the total. At year end it held assets of $111k against liabilities of $663, net assets of $111k.