Boat US Foundation

Analysis

Boat US Foundation is a registered charity in United States, based in Springfield, VA. It received its IRS tax-exemption ruling in June 1981, 45 years ago. Its declared purposes cover public safety, disaster preparedness and relief, which this site groups under armed forces, emergency and public safety. 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, Boat US Foundation reported income of $2.6m and spending of $3.5m, spending 137% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $2.7m to $2.6m (-5.8%), an average of -1.5% a year. The sharpest change came in the year to December 2021, when income rose by 21%. Over the whole period it spent 105% of the income it received.

Among 9,128 United States charities whose main cause is armed forces, emergency and public safety and that reported income, Boat US Foundation sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 88th percentile, and in the 88th percentile within VA. Charities of a similar size with the same main cause include Brandywine Hundred Fire Company No 1 ($2.6m), Pine Ridge Volunteer Fire Department Term ($2.6m) and Chili Fire Department Inc ($2.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 67% and program service revenue 33% of the total. Other salaries and wages came to $1.1m. At year end it held assets of $2.0m against liabilities of $1.3m, net assets of $718k.

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.