Charleston Ocean Racing Association Inc

Analysis

Charleston Ocean Racing Association Inc is a registered charity in United States, based in Charleston, SC. It received its IRS tax-exemption ruling in June 2014, 12 years ago. Its declared purposes cover education, which this site groups under education and training. 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 September 2023, Charleston Ocean Racing Association Inc reported income of $102k and spending of $166k, spending 163% of what it took in. Across the 4 years on record, from September 2019 to September 2023, income fell from $507k to $102k (-80%), an average of -41% a year. The sharpest change came in the year to September 2023, when income dropped by 68%. Over the whole period it spent 99% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Charleston Ocean Racing Association Inc sits at the 40th percentile: it is larger than about 40% of them. Against every charity in United States with reported income it ranks in the 37th percentile, and in the 43rd percentile within SC. Charities of a similar size with the same main cause include Concordia Academy-Wichita ($102k), Nassau Association of Music Administrators Inc ($102k) and International Consortium Fororganizational Resilience ($102k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 35% and program service revenue 64% of the total. At year end it held assets of $343k against liabilities of $0, net assets of $343k.