Center for Wooden Boats

Analysis

Center for Wooden Boats is a registered charity in United States, based in Seattle, WA. It received its IRS tax-exemption ruling in April 1979, 47 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Center for Wooden Boats reported income of $1.9m and spending of $2.0m, spending 105% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $1.6m to $1.9m (+21%), an average of +4.9% a year. The sharpest change came in the year to December 2021, when income rose by 38%. Over the whole period it spent 98% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Center for Wooden Boats sits at the 96th percentile: it is larger than about 96% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within WA. Charities of a similar size with the same main cause include California-Usa Wrestling Inc ($1.9m), Family Ice ($1.9m) and Colorado Golf Charities ($1.9m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% and program service revenue 48% of the total. Compensation of current officers, directors and key employees was $235k (12% of expenses). Other salaries and wages came to $716k. At year end it held assets of $8.5m against liabilities of $791k, net assets of $7.7m. It reported 39 employees.