Vashon Island Rowing Club

Analysis

Vashon Island Rowing Club is a registered charity in United States, based in Vashon, WA. It received its IRS tax-exemption ruling in March 1991, 35 years ago. 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, Vashon Island Rowing Club reported income of $222k and spending of $260k, spending 117% of what it took in. Across the 6 years on record, from December 2018 to December 2023, income grew from $174k to $222k (+28%), an average of +5.0% a year. The sharpest change came in the year to December 2020, when income dropped by 32%. Over the whole period it spent 117% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Vashon Island Rowing Club sits at the 55th percentile: it is larger than about 54% of them. Against every charity in United States with reported income it ranks in the 56th percentile, and in the 53rd percentile within WA. Charities of a similar size with the same main cause include Kettering-Largo-Mitchellville Boys & Girls Club Inc ($222k), Central Brevard Soccer Inc ($223k) and Bloom Township Athletic Association ($222k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 42% and program service revenue 53% of the total. Compensation of current officers, directors and key employees was $61k (23% of expenses). At year end it held assets of $245k against liabilities of $3,106, net assets of $241k. It reported 7 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.