Sailing Ships Maine

Analysis

Sailing Ships Maine is a registered charity in United States, based in Portland, ME. It received its IRS tax-exemption ruling in September 2015, 11 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2021, Sailing Ships Maine reported income of $804k and spending of $902k, spending 112% of what it took in. Across the 3 years on record, from December 2019 to December 2021, income grew from $189k to $804k (+326%), an average of +106% a year. The sharpest change came in the year to December 2021, when income rose by 262%. Over the whole period it spent 122% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sailing Ships Maine sits at the 83rd percentile: it is larger than about 83% of them. Against every charity in United States with reported income it ranks in the 77th percentile, and in the 73rd percentile within ME. Charities of a similar size with the same main cause include Ethos Inc ($804k), Great Northern Winter Festival ($804k) and Emporia Arts Council ($804k).

On its Form 990 for the period ending December 2021, revenue came from contributions and grants 34% and program service revenue 64% of the total. Other salaries and wages came to $299k. At year end it held assets of $253k against liabilities of $505k, net assets of -$253k. It reported 47 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.