Northwest School of Wooden Boat Building

Analysis

Northwest School of Wooden Boat Building is a registered charity in United States, based in Port Hadlock, WA. It received its IRS tax-exemption ruling in March 1981, 45 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 school under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Northwest School of Wooden Boat Building reported income of $2.3m and spending of $2.1m, spending 89% of its income. Across the 5 years on record, from September 2019 to September 2023, income grew from $1.9m to $2.3m (+23%), an average of +5.3% a year. The sharpest change came in the year to September 2020, when income rose by 19%. Over the whole period it spent 80% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Northwest School of Wooden Boat Building sits at the 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 87th percentile, and in the 88th percentile within WA. Charities of a similar size with the same main cause include International Chamber of Commerce UN Observer Mission Inc ($2.3m), Studio by the Tracks Inc ($2.3m) and Osseo-Maple Grove Youth Hockey Association ($2.3m).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 45% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $88k (4.3% of expenses). Other salaries and wages came to $907k. At year end it held assets of $7.1m against liabilities of $3.5m, net assets of $3.6m. It reported 31 employees.