Hawaiian Canoe Racing Association

Analysis

Hawaiian Canoe Racing Association is a registered charity in United States, based in Kihei, HI. It received its IRS tax-exemption ruling in December 1977, 49 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, Hawaiian Canoe Racing Association reported income of $231k and spending of $193k, spending 83% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $217k to $231k (+6.8%), an average of +6.8% a year. Over the whole period it spent 68% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Hawaiian Canoe Racing Association sits at the 55th percentile: it is larger than about 55% of them. Against every charity in United States with reported income it ranks in the 57th percentile, and in the 56th percentile within HI. Charities of a similar size with the same main cause include Illuminating Engineering Society ($231k), Community Housing Services ($231k) and Minnesota VFW Charitable Association ($231k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 38% of the total. At year end it held assets of $368k against liabilities of $55k, net assets of $313k.