Vessel Works

Analysis

Vessel Works is a registered charity in United States, based in Lyons, CO. It received its IRS tax-exemption ruling in April 2019, 7 years ago. Its declared purposes cover health care, which this site groups under health and saving lives. 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, Vessel Works reported income of $390k and spending of $721k, spending 185% of what it took in. Across the 2 years on record, from December 2022 to December 2023, income fell from $1.1m to $390k (-64%), an average of -64% a year. The sharpest change came in the year to December 2023, when income dropped by 64%. Over the whole period it spent 59% of the income it received.

Among 40,470 United States charities whose main cause is health and saving lives and that reported income, Vessel Works sits at the 51st percentile: it is larger than about 51% of them. Against every charity in United States with reported income it ranks in the 66th percentile, and in the 63rd percentile within CO. Charities of a similar size with the same main cause include Family House of West Georgia Inc ($390k), Jefferson Regional Medical Center Foundation ($391k) and Reinholds Community Ambulance Assn Inc ($390k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 91% and program service revenue 7.8% of the total. Compensation of current officers, directors and key employees was $178k (25% of expenses). At year end it held assets of $625k against liabilities of $13k, net assets of $612k. It reported 1 employees.