Community Boating Center Inc
- Assets
- $3.5m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 53
- Location
- New Bedford, MA
- Founding
- 11/1998
- Data as of
- 12/2021
- EIN
- 04-3401842
Organization Overview
Community Boating Center Inc is located in New Bedford, MA. The organization was established in 1998. According to its NTEE Classification (O20) the organization is classified as: Youth Centers & Clubs, under the broad grouping of Youth Development and related organizations. As of 12/2021, Community Boating Center Inc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Community Boating Center Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Community Boating Center Inc generated $1.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 14.8% each year . All expenses for the organization totaled $1.2m during the year ending 12/2021. While expenses have increased by 16.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ENRICH THE LIVES OF NEW BEDFORD AREA RESIDENTS THROUGH BOATING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE INSTRUCTION AND ACCESS TO RECREATIONAL BOATING FOR ALL, WITH AN EMPHASIS ON CHILDREN, WITHOUT REGARD TO THEIR FINANCIAL SITUATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Vescio Clerk | OfficerTrustee | 1 | $0 |
Oliver Moore President | OfficerTrustee | 1 | $0 |
Peter Kavanaugh Treasurer | OfficerTrustee | 1 | $0 |
Andrew Defrias Director | Trustee | 1 | $0 |
Sam Vineyard Director | Trustee | 1 | $0 |
Mark Smith Vice President | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $131,587 |
| All other contributions, gifts, grants, and similar amounts not included above | $925,855 |
| Noncash contributions included in lines 1a–1f | $40,420 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,057,442 |
| Total Program Service Revenue | $135,284 |
| Investment income | $73,256 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $4,948 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,581,499 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $719,286 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $69,256 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $56,978 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $8,870 |
| Fees for services: Other | $8,441 |
| Advertising and promotion | $0 |
| Office expenses | $33,604 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,185 |
| Travel | $2,537 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $94,816 |
| Insurance | $96,456 |
| All other expenses | $4,435 |
| Total functional expenses | $1,203,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $369,301 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $490,340 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $18,766 |
| Net Land, buildings, and equipment | $1,247,283 |
| Investments—publicly traded securities | $1,352,847 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,478,537 |
| Accounts payable and accrued expenses | $70,152 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $70,152 |
| Net assets without donor restrictions | $2,462,394 |
| Net assets with donor restrictions | $945,991 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $3,478,537 |
Grants Recieved
Over the last fiscal year, we have identified 17 grants that Community Boating Center Inc has recieved totaling $430,637.
| Awarding Organization | Amount |
|---|---|
Bny Mellon Charitable Gift Fund Boston, MA PURPOSE: TO FURTHER THE ORGANIZATION'S EXEMPT PURPOSE | $200,000 |
The Schmidt Family Foundation Palo Alto, CA PURPOSE: OCEAN STEWARDSHIP AND RESEARCH | $78,000 |
Carney Family Charitable Foundation Bridgewater, MA PURPOSE: YOUTH DEVELOPMENT | $55,181 |
Island Foundation Inc Marion, MA PURPOSE: EDUCATION | $25,000 |
Southcoast Community Foundation Inc New Bedford, MA PURPOSE: GENERAL OPERATING SUPPORT | $17,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $16,100 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Manhattan Youth Recreation And Resources Inc New York, NY | $17,184,242 | $19,141,924 |
Sephardic Community Youth Center Brooklyn, NY | $72,169,796 | $17,975,881 |
Do Something Inc New York, NY | $16,018,625 | $4,390,638 |
Colonie Youth Center Inc Latham, NY | $13,129,145 | $4,748,575 |
Squashbusters Inc Roxbury Crossing, MA | $32,066,323 | $8,675,838 |
El Puente De Williamsburg Inc Brooklyn, NY | $1,746,153 | $3,586,866 |
Manhattan Soccer Club Inc New York, NY | $3,532,103 | $3,811,063 |
Compass Youth Collaborative Inc Hartford, CT | $2,453,740 | $3,584,751 |
Wakeman Memorial Association Inc Fairfield, CT | $16,157,524 | $5,728,148 |
Valeo Futbol Club Inc Newton Center, MA | -$49,861 | $2,149,283 |
Sociedad Latina Inc Roxbury, MA | $10,396,868 | $3,359,611 |
The Dream Program Inc Winooski, VT | $2,278,849 | $2,506,559 |