Is Dare County Boat Builders Foundation Legit?

The Dare County Boat Builders Foundation demonstrates strong financial health and a commendable commitment to its mission. Over the past decade, the organization has consistently grown its assets, reaching $1,318,050 in 2023, with zero liabilities reported across all available filings, indicating excellent financial stability. Revenue has also shown a positive trend, with the latest reported revenue at $302,970 in 2023, significantly higher than previous years. The organization's spending efficiency appears very strong, as evidenced by its low expense ratios relative to revenue and the complete absence of officer compensation, suggesting that resources are primarily directed towards programmatic activities. The foundation's transparency is high, particularly given the consistent reporting of zero officer compensation, which eliminates a common area of concern for donors. The consistent growth in assets while maintaining zero liabilities further reinforces a picture of responsible financial stewardship. The NTEE code B82 (Boating & Sailing) aligns well with the organization's name, suggesting a clear programmatic focus. Overall, the Dare County Boat Builders Foundation appears to be a well-managed and financially sound organization. Its consistent asset growth, lack of debt, and efficient spending, coupled with no reported executive compensation, paint a very positive picture of its financial health and dedication to its stated purpose.