Tidewater Wooden Boat Workshop
- Assets
- $174.6k
- Revenue
- $231.2k
- Investments
- $0.0
- Employees
- 4
- Location
- Norfolk, VA
- Founding
- 07/2014
- Data as of
- 12/2022
- EIN
- 46-4756833
Organization Overview
Tidewater Wooden Boat Workshop is located in Norfolk, VA. The organization was established in 2014. According to its NTEE Classification (N99) the organization is classified as: Recreation & Sports N.E.C., under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Tidewater Wooden Boat Workshop employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tidewater Wooden Boat Workshop 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 12/2022, Tidewater Wooden Boat Workshop generated $231.2k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 8.3% each year. All expenses for the organization totaled $212.1k during the year ending 12/2022. While expenses have increased by 5.1% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TEACH STEM AND LIFE SKILLS TO DISADVANTAGED YOUTH THROUGH THE BUILDING OF WOODEN BOATS AND OTHER NAUTICAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING 2022, TWBW SERVED 165 HAMPTON ROADS YOUTHS AGES 10 -24. THEY PARTICIPATED IN OUR UNIQUE BOATBUILDING ACTIVITIES AS PART OF OUR AFTER- SCHOOL, DURING-SCHOOL-TIME, AND SUMMER CAMP PROGRAMS. STUDENTS COMPLETED TWO 12-FOOT ROWOATS, CONTINUED WORKING ON A 14-FOOT SAILBOAT, AND BEGAN CONSTRUCTION OF A 14-FOOT ROWBOAT. FEEDBACK FROM PARENTS, TEACHERS AND THE STUDENTS THEMSELVES INDICATES OUR UNIQUE PROGRAMS ARE HAVING A POSITIVE IMPACT ON THE LIVES OF THE KIDS WHO PARTICIPATE IN OUR PROGRAMS. IN MARCH 2022, FOUR STUDENTS SUCCESSFULLY COMPLETED TWBW'S INAUGURAL PRE- APPRENTICE PROGRAM FOR DISCONNECTED YOUTH, AGES 17 -24. DURING THE 24 WEEK PROGRAM, THEY WERE TAUGHT CARPENTRY AND LIFE SKILLS THROUGH WOODEN BOATBUILDING. THE GOAL OF THE PROGRAM IS FOR EACH PRE-APPRENTICE TO FIND EMPLOYMENT, OR MOVE ON TO FURTHER JOB TRAINING OR COLLEGE. THE GOAL WAS ACHIEVED FOR THIS COHORT OF STUDENTS. IN OCTOBER 2022, TWBW BEGAN ITS 2022 -2023 PRE-APPRENTICE PROGRAM WHICH WILL RUN UNTIL MID MARCH 2023.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marie A Finch President | OfficerTrustee | 3 | $0 |
Steven Sandoval Treasurer | OfficerTrustee | 3 | $0 |
Brian Finch Secretary | OfficerTrustee | 3 | $0 |
Thomas Brandl Executive Di | OfficerTrustee | 40 | $48,000 |
Dan Beck Director | Trustee | 1 | $0 |
Michael Hitchcock Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $223,919 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $223,919 |
| Total Program Service Revenue | $6,981 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $231,212 |
| 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 | $9,695 |
| Compensation of current officers, directors, key employees. | $48,000 |
| Compensation of current officers, directors, key employees. | $5,037 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $91,052 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,766 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,760 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $75 |
| Advertising and promotion | $850 |
| Office expenses | $3,886 |
| Information technology | $4,118 |
| Royalties | $0 |
| Occupancy | $13,988 |
| Travel | $2,152 |
| 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 | $921 |
| Insurance | $6,581 |
| All other expenses | $1,785 |
| Total functional expenses | $212,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $170,793 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,097 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $669 |
| Total assets | $174,559 |
| Accounts payable and accrued expenses | $0 |
| 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 | $24 |
| Total liabilities | $24 |
| Net assets without donor restrictions | $174,535 |
| Net assets with donor restrictions | $0 |
| 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 | $174,559 |