Dare County Boat Builders Foundation
Dare County Boat Builders Foundation shows strong financial growth and zero executive compensation.
EIN: 113831516 · Manteo, NC · NTEE: B82 · Updated: 2026-03-28
Is Dare County Boat Builders Foundation Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Dare County Boat Builders Foundation directs 95% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Dare County Boat Builders Foundation
Dare County Boat Builders Foundation (EIN: 113831516) is a nonprofit organization based in Manteo, NC, classified under NTEE code B82. The organization reported total revenue of $614K and total assets of $1.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Dare County Boat Builders Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Dare County Boat Builders Foundation is a small nonprofit that has been operating for 18 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $303K |
| Total Expenses | $144K |
| Surplus / Deficit | +$159K |
| Total Assets | $1.3M |
| Net Assets | $1.3M |
| Operating Margin | 52.6% |
| Months of Reserves | 110.2 months |
Financial Health Grade: A
In 2023, Dare County Boat Builders Foundation reported a surplus of $159K with revenue exceeding expenses, holds 110.2 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Dare County Boat Builders Foundation's revenue has grown at a compound annual growth rate (CAGR) of 4.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +14.9% | +23.2% | +27.9% |
| 2022 | +5.0% | +24.2% | -1.9% |
| 2021 | +62.6% | -4.7% | +30.5% |
| 2020 | -23.3% | -21.3% | +19.2% |
| 2019 | +24.6% | +8.2% | +28.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2100 |
| IRS Ruling Date | 2008 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Dare County Boat Builders Foundation with a Mission Score of 95 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 5%
- programs: 95%
- fundraising: 0%
According to IRS 990 filings, Dare County Boat Builders Foundation allocates its expenses as follows: admin: 5%, programs: 95%, fundraising: 0%. With 95% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $159K, with revenue exceeding expenses.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers or key employees receive salaries from the organization, which is highly unusual for an organization of its size and suggests a volunteer-driven leadership model.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Strengths
The following positive indicators were identified for Dare County Boat Builders Foundation:
- Consistent asset growth, reaching $1,318,050 in 2023.
- Zero liabilities reported across all filings, indicating excellent financial stability.
- No officer compensation reported, suggesting high dedication of resources to programs.
- Strong revenue growth, with 2023 revenue at $302,970.
- Efficient spending, with expenses significantly lower than revenue in recent years (e.g., $143,566 expenses vs. $302,970 revenue in 2023).
Frequently Asked Questions about Dare County Boat Builders Foundation
Is Dare County Boat Builders Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Dare County Boat Builders Foundation (EIN: 113831516) appears legitimate. Mission Score: 95/100. 0 red flags identified, 5 strengths noted.
How does Dare County Boat Builders Foundation spend its money?
Dare County Boat Builders Foundation directs 95% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Dare County Boat Builders Foundation tax-deductible?
Dare County Boat Builders Foundation is registered as a tax-exempt nonprofit (EIN: 113831516). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Dare County Boat Builders Foundation a good charity?
Based on the financial data, the Dare County Boat Builders Foundation appears to be a very good charity. It exhibits strong financial health with growing assets and no liabilities, very efficient spending with low expenses relative to revenue, and a notable commitment to its mission by reporting zero officer compensation.
How has the organization's financial health changed over time?
The organization's financial health has significantly improved over time. Assets have grown from $409,782 in 2014 to $1,318,050 in 2023, and revenue has increased from $162,936 in 2014 to $302,970 in 2023, all while maintaining zero liabilities.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available filings, indicating that its leadership is entirely volunteer-based or compensated through other means not reported as officer compensation on the 990, which is a strong indicator of resource dedication to its mission.
Filing History
IRS 990 filing history for Dare County Boat Builders Foundation showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Dare County Boat Builders Foundation's revenue has grown by 70.4%, moving from $178K to $303K. Total assets increased by 396.5% over the same period, from $265K to $1.3M. Total functional expenses rose by 0.3%, from $143K to $144K. In its most recent filing year (2023), Dare County Boat Builders Foundation reported a surplus of $159K, with revenue exceeding expenses.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $303K | $144K | $1.3M | $0 | — | — |
| 2022 | $264K | $117K | $1.0M | $0 | — | — |
| 2021 | $251K | $94K | $1.0M | $0 | — | View 990 |
| 2020 | $154K | $98K | $805K | $0 | — | — |
| 2019 | $201K | $125K | $675K | $0 | — | View 990 |
| 2018 | $162K | $116K | $525K | $0 | — | View 990 |
| 2017 | $191K | $106K | $531K | $0 | — | View 990 |
| 2016 | $121K | $105K | $422K | $0 | — | View 990 |
| 2015 | $109K | $108K | $407K | $0 | — | View 990 |
| 2014 | $163K | $93K | $410K | $0 | — | View 990 |
| 2013 | $112K | $78K | $341K | $0 | — | View 990 |
| 2012 | $196K | $147K | $314K | $0 | — | View 990 |
| 2011 | $178K | $143K | $265K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $303K, expenses of $144K, and assets of $1.3M (revenue +14.9% year-over-year).
- 2022: Revenue of $264K, expenses of $117K, and assets of $1.0M (revenue +5.0% year-over-year).
- 2021: Revenue of $251K, expenses of $94K, and assets of $1.0M (revenue +62.6% year-over-year).
- 2020: Revenue of $154K, expenses of $98K, and assets of $805K (revenue -23.3% year-over-year).
- 2019: Revenue of $201K, expenses of $125K, and assets of $675K (revenue +24.6% year-over-year).
- 2018: Revenue of $162K, expenses of $116K, and assets of $525K (revenue -15.6% year-over-year).
- 2017: Revenue of $191K, expenses of $106K, and assets of $531K (revenue +58.7% year-over-year).
- 2016: Revenue of $121K, expenses of $105K, and assets of $422K (revenue +10.7% year-over-year).
- 2015: Revenue of $109K, expenses of $108K, and assets of $407K (revenue -33.1% year-over-year).
- 2014: Revenue of $163K, expenses of $93K, and assets of $410K (revenue +45.2% year-over-year).
- 2013: Revenue of $112K, expenses of $78K, and assets of $341K (revenue -42.6% year-over-year).
- 2012: Revenue of $196K, expenses of $147K, and assets of $314K (revenue +10.0% year-over-year).
- 2011: Revenue of $178K, expenses of $143K, and assets of $265K.
Data Sources and Methodology
This transparency report for Dare County Boat Builders Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.