Brooklyn Boatworks Inc
- Assets
- $433.3k
- Revenue
- $896.1k
- Investments
- $0.0
- Employees
- 31
- Location
- Brooklyn, NY
- Founding
- 12/2010
- Data as of
- 06/2023
- EIN
- 27-1509754
Organization Overview
Brooklyn Boatworks Inc is located in Brooklyn, NY. The organization was established in 2010. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 06/2023, Brooklyn Boatworks Inc employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Brooklyn Boatworks 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 06/2023, Brooklyn Boatworks Inc generated $896.1k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $813.2k during the year ending 06/2023. While expenses have increased by 19.6% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
BROOKLYN BOATWORKS INSTILLS ACADEMIC AND LIFE SKILLS IN YOUNG PEOPLE THROUGH THE UNIQUE CRAFT OF BOAT BUILDING AND ON-WATER ACTIVITIES. BOAT BUILDING PROGRAMS ARE HELD IN SCHOOLS AND COMMUNITY ORGANIZATIONS THROUGHOUT NEW YORK CITY, OVER THE LENGTH OF A SCHOOL YEAR. TO REINFORCE CONCEPTS BROOKLYN BOATWORKS STUDENTS ALSO PARTICIPATE IN FIELD TRIPS AS WELL AS A STUDENT BOAT LAUNCH AT THE END OF THE SCHOOL YEAR. DURING THE SUMMER MONTHS BROOKLYN BOATWORKS PROVIDES A SAILING EDUCATION PROGRAM ON THE BROOKLYN WATERFRONT, IN STUDENT-CONSTRUCTED SAILBOATS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BROOKLYN BOATWORKS WORKED WITH 360 YOUTH SPANNING 5TH TO 11TH GRADES. THE ORGANIZATION OVERSAW 12 BOAT BUILDS ACROSS SEVEN DIFFERENT SCHOOLS IN NEW YORK CITY. WITHIN EACH CLASS, STUDENTS COLLABORATED ON CRAFTING A 7'6" OPTIMIST PRAM SAILBOAT, USING WOODEN MATERIALS AND BASIC HAND TOOLS. STUDENTS LEARNED BASIC CONSTRUCTION AND TOOL SKILLS, APPLIED MEASUREMENT AND ESTIMATION, LOCAL WATERWAY GEOGRAPHY, NAUTICAL CHART READING, BUOYANCY, AND THE PHYSICS OF SAILING. BROOKLYN BOATWORKS EMPHASIZES COOPERATION, PERSEVERANCE, CRAFTSMANSHIP, AND EXPERIENTIAL LEARNING. TO CULMINATE THE SCHOOL YEAR, STUDENTS CELEBRATED THEIR ACHIEVEMENTS THROUGH AN IMPRESSIVE BOAT LAUNCH AND REGATTA. ADDITIONALLY, THE YOUTH WERE ACTIVELY INVOLVED IN VARIOUS ACTIVITIES, FIELD TRIPS, AND A SAILING CAMP. THROUGHOUT ALL OF BROOKLYN BOATWORK'S ENDEAVORS, THE FOCUS REMAINED ON PROMOTING STEM AND MARITIME-CENTERED EDUCATION, HANDS-ON LEARNING, AND NURTURING HEALTHY SOCIAL-EMOTIONAL DEVELOPMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joyce Goodman Chair | OfficerTrustee | 1 | $0 |
Navin Jhamna Treasurer | OfficerTrustee | 1 | $0 |
Jennifer Potter Secretary | OfficerTrustee | 1 | $0 |
Peter Guy Director | Trustee | 1 | $0 |
Stephan Forstmann Director | Trustee | 1 | $0 |
Abigail Van Straaten Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $115,288 |
| Related organizations | $0 |
| Government grants | $171,503 |
| All other contributions, gifts, grants, and similar amounts not included above | $482,103 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $768,894 |
| Total Program Service Revenue | $127,467 |
| Investment income | $15 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$325 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $896,051 |
| 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. | $161,974 |
| Compensation of current officers, directors, key employees. | $24,296 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $331,673 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $35,738 |
| Payroll taxes | $41,099 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $12,992 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $83,265 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $23,318 |
| Advertising and promotion | $197 |
| Office expenses | $11,300 |
| Information technology | $7,315 |
| Royalties | $0 |
| Occupancy | $22,755 |
| Travel | $6,865 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,151 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,710 |
| All other expenses | $10,840 |
| Total functional expenses | $813,181 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $171,222 |
| Savings and temporary cash investments | $112,399 |
| Pledges and grants receivable | $122,236 |
| Accounts receivable, net | $17,500 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,955 |
| Total assets | $433,312 |
| Accounts payable and accrued expenses | $25,048 |
| 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 | $32,426 |
| Total liabilities | $57,474 |
| Net assets without donor restrictions | $345,838 |
| Net assets with donor restrictions | $30,000 |
| 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 | $433,312 |