Center For Wooden Boats
- Assets
- $8.5m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 35
- Location
- Seattle, WA
- Founding
- 04/1979
- Data as of
- 12/2022
- EIN
- 91-1061721
Organization Overview
Center For Wooden Boats is located in Seattle, WA. The organization was established in 1979. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Center For Wooden Boats employed 35 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Center For Wooden Boats 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, Center For Wooden Boats generated $1.8m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.9%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2022. 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
PROMOTES NORTHWEST MARITIME HERITAGE THROUGH EDUCATION, INTERPRETATION AND HANDS-ON EXPERIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH SAILING AND BOATBUILDING INCLUDING SAILING LESSONS, SUMMER CAMPS AND WOODWORKING CAMPS, SCHOLARSHIPS IN THE AMOUNT OF $22,592 WERE AWARDED TO 111 UNDERSERVED YOUTH. OVER 500 YOUTH ATTENDED SAILING LESSONS, WORKSHOPS AND CAMPS DURING THE SUMMER SEASON OF 2022.
WORKSHOPS, GIFT SHOP, BOATS FOR SALE, WHARF, FACILITY RENTALS
SLU LIVERY, PROVIDING HANDS ON EXPERIENCE IN HISTORIC CRAFT AND WOODEN BOAT CULTURE, INCLUDING BOAT RENTALS AND ASSISTANCE TO ALL SAILNG PROGRAMS. OVER 8,620 PEOPLE RENTED BOATS AT SLU IN 2022 INCLUDING FREE SUNDAY ROWBOAT RENTALS (REPLACING PUBLIC SAIL DUE TO PANDEMIC RESTRICTIONS). OVER 2,630 PEOPLE TOOK A FREE ROWBOAT CRUISE AT CWB IN 2022.
ADULT & FAMILY SAILING INCLUDING SAILING LESSONS, RACING PROGRAMS, EDUCATIONAL WORKSHOPS, CAPTAINS CLASSES (ACCREDITED BY THE US SAILING ASSOCIATION) AND CHARTER CRUISES ON LAKE UNION. OVER 1,850 PEOPLE PARTICIPATED IN THESE PROGRAMS IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Clay Gustaves President | OfficerTrustee | 6 | $0 |
Rachel Gibbs Vice President | OfficerTrustee | 1 | $0 |
Rian Merrill Treasurer | OfficerTrustee | 1 | $0 |
Marty Johnson Secretary | OfficerTrustee | 1 | $0 |
Elsie Hulsizer Board Member | Trustee | 1 | $0 |
Johnny Ohta Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Schuchart Corporation Commercial Builder | 12/30/18 | $167,998 |
Alpine Welding And Equipment Commercial Builder | 12/30/18 | $108,791 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $71,900 |
| Fundraising events | $110,256 |
| Related organizations | $0 |
| Government grants | $164,924 |
| All other contributions, gifts, grants, and similar amounts not included above | $364,117 |
| Noncash contributions included in lines 1a–1f | $125,217 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $711,197 |
| Total Program Service Revenue | $1,043,256 |
| Investment income | $1,045 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,370 |
| Net Income from Fundraising Events | -$7,002 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $61,979 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,818,982 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $22,592 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $190,000 |
| Compensation of current officers, directors, key employees. | $190,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $540,419 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $65,436 |
| Payroll taxes | $87,081 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $141,525 |
| Advertising and promotion | $5,726 |
| Office expenses | $79,330 |
| Information technology | $43,641 |
| Royalties | $0 |
| Occupancy | $24,237 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,416 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $286,777 |
| Insurance | $99,771 |
| All other expenses | $19,182 |
| Total functional expenses | $1,780,787 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $262,185 |
| Savings and temporary cash investments | $914,867 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,236 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $233,765 |
| Prepaid expenses and deferred charges | $19,554 |
| Net Land, buildings, and equipment | $6,321,464 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $705,975 |
| Total assets | $8,460,046 |
| Accounts payable and accrued expenses | $51,254 |
| Grants payable | $0 |
| Deferred revenue | $34,441 |
| 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 | $484,453 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $73,127 |
| Total liabilities | $643,275 |
| Net assets without donor restrictions | $7,432,208 |
| Net assets with donor restrictions | $384,563 |
| 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 | $8,460,046 |