Chesapeake Region Accessible Boating Inc
- Assets
- $3.7m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 10
- Location
- Annapolis, MD
- Founding
- 04/2003
- Data as of
- 12/2022
- EIN
- 35-2188410
Organization Overview
Chesapeake Region Accessible Boating Inc is located in Annapolis, MD. The organization was established in 2003. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Chesapeake Region Accessible Boating Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chesapeake Region Accessible Boating 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 12/2022, Chesapeake Region Accessible Boating Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 31.9% each year . All expenses for the organization totaled $594.7k during the year ending 12/2022. While expenses have increased by 17.0% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CRABS MISSION IS TO PROVIDE THE THRILL, FREEDOM AND THERAPEUTIC VALUE OF SAILING TO PEOPLE WITH DISABILITIES, RECOVERING WARRIORS, AND YOUTH FROM UNDERSERVED COMMUNITIES. CONTINUED ON SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE RECOVERING WARRIOR SAILING REGATTAS WERE HELD IN COOPERATION IN ANNAPOLIS. WARRIORS AND FAMILY MEMBERS FROM WALTER REED NATIONAL MILITARY MEDICAL CENTER, THE WASHINGTON VA, AND THE REGION WERE HOSTED FOR 2 DAYS OF RACING, COMPLIMENTARY LUNCH, AND AWARDS. CRAB WAS PLEASED TO HOST TWO REGATTAS FOR 16 WARRIORS AND THEIR FAMILY MEMBERS, INCLUDING SERVICE DOGS. THE DON BACKE MEMORIAL REGATTA HOSTED BY THE ANNAPOLIS YACHT CLUB PROVIDED SEVEN DISABLED SKIPPERS AND THEIR DISABLED CREW WITH THE OPPORTUNITY TO RACE IN CRABS SAILBOATS AGAINST EACH OTHER. THE BOATS ALSO HAD AYC TACTICIANS ABOARD WHO PROVIDED EXPERT SUPPORT IN RACE TACTICS AND STRATEGY. THE 2022 CRAB CUP WAS ONE OF THE MOST SUCCESSFUL IN FUNDRAISING HISTORY. THE RACE FEATURED OVER 94 BOATS AND 500 SKIPPERS AND CREW. THE FUNDRAISING ASSOCIATED WITH THE EVENT RAISED A RECORD 203,500. CRAB HOSTED 4 KIDS SAILING CAMPS IN CONJUNCTION WITH THE ANNAPOLIS CITY POLICE. CONTINUED ON SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Bollinger Jr President And CEO | Officer | 40 | $155,083 |
David Hankey President | OfficerTrustee | 5 | $0 |
James Nolan Vice President | OfficerTrustee | 5 | $0 |
Will Crump Treasurer | OfficerTrustee | 5 | $0 |
Elizabeth Rossman Secretary | OfficerTrustee | 5 | $0 |
Jonathan Adams Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $201,354 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,066,565 |
| Noncash contributions included in lines 1a–1f | $28,529 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,267,919 |
| Total Program Service Revenue | $8,007 |
| Investment income | $2,954 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $108,152 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $73,756 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,462,574 |
| 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. | $157,782 |
| Compensation of current officers, directors, key employees. | $22,090 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $199,693 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $19,264 |
| Payroll taxes | $26,261 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $14,424 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $470 |
| Fees for services: Other | $0 |
| Advertising and promotion | $20,012 |
| Office expenses | $7,259 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $48,027 |
| Travel | $6,761 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,897 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,880 |
| Insurance | $29,877 |
| All other expenses | $0 |
| Total functional expenses | $594,659 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,278,800 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $146,700 |
| 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 | $6,000 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,243,470 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $47,353 |
| Total assets | $3,722,323 |
| Accounts payable and accrued expenses | $33,191 |
| 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 | $24,828 |
| Total liabilities | $58,019 |
| Net assets without donor restrictions | $2,684,611 |
| Net assets with donor restrictions | $979,693 |
| 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 | $3,722,323 |