Spaulding Wooden Boat Center

Analysis

Spaulding Wooden Boat Center is a registered charity in United States, based in Sausalito, CA. It received its IRS tax-exemption ruling in January 2004, 22 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 2023, Spaulding Wooden Boat Center reported income of $1.1m and spending of $1.3m, spending 111% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.0m to $1.1m (+9.0%), an average of +2.2% a year. The sharpest change came in the year to December 2021, when income rose by 130%. Over the whole period it spent 108% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Spaulding Wooden Boat Center sits at the 87th percentile: it is larger than about 87% of them. Against every charity in United States with reported income it ranks in the 81st percentile, and in the 82nd percentile within CA. Charities of a similar size with the same main cause include The Drawing Studio Inc ($1.1m), Rehearsal for Life Inc ($1.1m) and Downtown Bentonville Inc ($1.1m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 25% and program service revenue 71% of the total. Other salaries and wages came to $585k. At year end it held assets of $1.4m against liabilities of $173k, net assets of $1.2m. It reported 25 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.