Is Gig Harbor Boatshop Legit?

Quick charity verification for Gig Harbor Boatshop (EIN: 205014377)

Verdict: Gig Harbor Boatshop appears trustworthy

85/100Mission Score
$239KRevenue
$585KAssets
1Red Flags
4Strengths

Red Flags

Strengths

Spending Breakdown

How Gig Harbor Boatshop allocates its funds across programs, administration, and fundraising.

80%
Program Spending
Healthy — majority goes to mission
15%
Admin Costs
Reasonable — admin costs in check
5%
Fundraising
Within typical range
How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Gig Harbor Boatshop

Is Gig Harbor Boatshop a legitimate charity?

Based on AI analysis of IRS 990 filings, Gig Harbor Boatshop (EIN: 205014377) appears trustworthy. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.

Is Gig Harbor Boatshop a good charity to donate to?

Gig Harbor Boatshop has a Mission Score of 85/100. Revenue: $239K. Assets: $585K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Gig Harbor Boatshop?

The Employer Identification Number (EIN) for Gig Harbor Boatshop is 205014377. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Gig Harbor Boatshop spend its money?

Gig Harbor Boatshop allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Gig Harbor Boatshop's tax-exempt status?

You can verify Gig Harbor Boatshop's tax-exempt status using EIN 205014377 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

Gig Harbor Boatshop demonstrates a generally stable financial position with fluctuating but often positive net assets over the past decade. In 2023, the organization reported revenues of $198,882 against expenses of $174,116, resulting in a surplus. While revenue has varied significantly year-to-year, from a low of $92,695 in 2022 to a high of $434,293 in 2017, the organization has consistently maintained a healthy asset base, reaching $563,272 in 2023. The consistent reporting of 0% officer compensation across all available filings indicates a commitment to minimizing administrative overhead related to executive pay, which is a positive sign for donor confidence. The organization's liabilities have remained relatively low, suggesting good financial management and limited reliance on debt. The organization's spending efficiency appears reasonable, especially given the absence of officer compensation. Without a detailed breakdown of program, administrative, and fundraising expenses in the provided data, a precise efficiency ratio cannot be calculated. However, the consistent surpluses in most years, such as in 2023 ($24,766 surplus) and 2021 ($69,010 surplus), suggest that the organization is generally operating within its means and effectively managing its resources. The NTEE code T20 (Museums, Historical Societies, etc.) aligns with the 'Boatshop' name, implying a focus on historical preservation or education, which typically involves significant program costs. Transparency is strong regarding executive compensation, as all filings indicate 0% officer compensation. The consistent filing of IRS Form 990s over 13 periods demonstrates a commitment to public disclosure. However, without more granular expense data (e.g., specific line items for program services, management and general, and fundraising expenses), a full assessment of spending transparency is limited. The overall financial health, marked by growing assets and controlled liabilities, suggests a well-managed entity, though donors might benefit from more detailed expense breakdowns to fully understand where their contributions are allocated.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.

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