Gig Harbor Boatshop
Gig Harbor Boatshop maintains stable assets and no officer compensation amidst fluctuating revenues.
EIN: 205014377 · Gig Harbor, WA · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $239K |
| Total Expenses | $174K |
| Program Spending | 80% |
| CEO/Top Officer Pay | $563,272 |
| Net Assets | $538K |
| Transparency Score | 85/100 |
Is Gig Harbor Boatshop Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Gig Harbor Boatshop directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Gig Harbor Boatshop
Gig Harbor Boatshop (EIN: 205014377) is a nonprofit organization based in Gig Harbor, WA, classified under NTEE code T20. The organization reported total revenue of $239K and total assets of $585K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Gig Harbor Boatshop's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Gig Harbor Boatshop 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 6.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $199K |
| Total Expenses | $174K |
| Surplus / Deficit | +$25K |
| Total Assets | $563K |
| Total Liabilities | $25K |
| Net Assets | $538K |
| Operating Margin | 12.5% |
| Debt-to-Asset Ratio | 4.4% |
| Months of Reserves | 38.8 months |
Financial Health Grade: A
In 2023, Gig Harbor Boatshop reported a surplus of $25K with revenue exceeding expenses, holds 38.8 months of operating reserves (strong position), has a debt-to-asset ratio of 4.4% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Gig Harbor Boatshop's revenue has grown at a compound annual growth rate (CAGR) of 6.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +114.6% | +8.9% | +6.4% |
| 2022 | -61.1% | -5.4% | -9.6% |
| 2021 | +80.6% | +84.0% | +13.1% |
| 2020 | -37.9% | -53.2% | +7.7% |
| 2019 | -12.1% | -18.5% | +1.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| 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 Gig Harbor Boatshop with a Mission Score of 85 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Gig Harbor Boatshop allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $25K, with revenue exceeding expenses.
- Debt-to-asset ratio: 4.4%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers received compensation from the organization, which is highly favorable for a nonprofit of its size with assets of $563,272 in 2023.
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.
Red Flags
The following concerns were identified during AI analysis of Gig Harbor Boatshop's IRS 990 filings:
- Highly fluctuating annual revenue, indicating potential funding instability or project-based income.
Strengths
The following positive indicators were identified for Gig Harbor Boatshop:
- Consistent 0% officer compensation, demonstrating a commitment to minimizing administrative overhead.
- Healthy and growing asset base, reaching $563,272 in 2023, indicating financial resilience.
- Low liabilities relative to assets, suggesting good financial management and limited debt.
- Consistent filing of IRS Form 990s over 13 periods, indicating strong transparency and compliance.
Frequently Asked Questions about Gig Harbor Boatshop
Is Gig Harbor Boatshop a legitimate charity?
Gig Harbor Boatshop (EIN: 205014377) is a registered tax-exempt nonprofit based in Washington. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $239K. 1 red flag identified. 4 strengths noted. Financial health grade: A.
How does Gig Harbor Boatshop spend its money?
Gig Harbor Boatshop directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Gig Harbor Boatshop tax-deductible?
Gig Harbor Boatshop is registered as a tax-exempt nonprofit (EIN: 205014377). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How much does the Gig Harbor Boatshop CEO make?
Gig Harbor Boatshop's highest-compensated officer earns $563,272 annually. The organization reported $239K in total revenue. Executive compensation data is disclosed in IRS 990 filings.
What percentage of Gig Harbor Boatshop's spending goes to programs?
Gig Harbor Boatshop directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Gig Harbor Boatshop compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Gig Harbor Boatshop is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Gig Harbor Boatshop located?
Gig Harbor Boatshop is headquartered in Gig Harbor, Washington and files with the IRS under EIN 205014377. It is classified under NTEE code T20.
How many years of IRS 990 filings does Gig Harbor Boatshop have?
Gig Harbor Boatshop has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $239K in total revenue.
Is Gig Harbor Boatshop financially stable?
Yes, Gig Harbor Boatshop appears financially stable. Despite fluctuating revenues, the organization has consistently grown its assets, reaching $563,272 in 2023, and maintained low liabilities, indicating sound financial management.
How much of its budget goes to executive salaries?
According to all available IRS 990 filings, Gig Harbor Boatshop reports 0% officer compensation, meaning no executive salaries were paid by the organization.
What is the trend in the organization's revenue?
Gig Harbor Boatshop's revenue has been highly variable, ranging from a low of $92,695 in 2022 to a high of $434,293 in 2017, with $198,882 reported in 2023. This suggests reliance on diverse or inconsistent funding sources.
Does the organization have significant debt?
No, the organization does not appear to have significant debt. Liabilities have consistently been low, for example, $24,979 in 2023, which is a small fraction of its total assets ($563,272).
Filing History
IRS 990 filing history for Gig Harbor Boatshop showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Gig Harbor Boatshop's revenue has grown by 121.1%, moving from $90K to $199K. Total assets increased by 478.6% over the same period, from $97K to $563K. Total functional expenses rose by 254.6%, from $49K to $174K. In its most recent filing year (2023), Gig Harbor Boatshop reported a surplus of $25K, with revenue exceeding expenses. The organization holds $25K in liabilities against $563K in assets (debt-to-asset ratio: 4.4%), resulting in net assets of $538K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $199K | $174K | $563K | $25K | — | — |
| 2022 | $93K | $160K | $529K | $16K | — | View 990 |
| 2021 | $238K | $169K | $585K | $5K | — | View 990 |
| 2020 | $132K | $92K | $518K | $6K | — | — |
| 2019 | $212K | $196K | $480K | $9K | — | View 990 |
| 2018 | $241K | $241K | $473K | $18K | — | View 990 |
| 2017 | $434K | $211K | $465K | $10K | — | View 990 |
| 2016 | $190K | $218K | $243K | $11K | — | View 990 |
| 2015 | $338K | $231K | $282K | $22K | — | View 990 |
| 2014 | $170K | $128K | $227K | $75K | — | View 990 |
| 2013 | $110K | $111K | $192K | $22K | — | View 990 |
| 2012 | $154K | $65K | $200K | $29K | — | View 990 |
| 2011 | $90K | $49K | $97K | $16K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $199K, expenses of $174K, and assets of $563K (revenue +114.6% year-over-year).
- 2022: Revenue of $93K, expenses of $160K, and assets of $529K (revenue -61.1% year-over-year).
- 2021: Revenue of $238K, expenses of $169K, and assets of $585K (revenue +80.6% year-over-year).
- 2020: Revenue of $132K, expenses of $92K, and assets of $518K (revenue -37.9% year-over-year).
- 2019: Revenue of $212K, expenses of $196K, and assets of $480K (revenue -12.1% year-over-year).
- 2018: Revenue of $241K, expenses of $241K, and assets of $473K (revenue -44.4% year-over-year).
- 2017: Revenue of $434K, expenses of $211K, and assets of $465K (revenue +128.6% year-over-year).
- 2016: Revenue of $190K, expenses of $218K, and assets of $243K (revenue -43.9% year-over-year).
- 2015: Revenue of $338K, expenses of $231K, and assets of $282K (revenue +99.2% year-over-year).
- 2014: Revenue of $170K, expenses of $128K, and assets of $227K (revenue +53.8% year-over-year).
- 2013: Revenue of $110K, expenses of $111K, and assets of $192K (revenue -28.2% year-over-year).
- 2012: Revenue of $154K, expenses of $65K, and assets of $200K (revenue +71.1% year-over-year).
- 2011: Revenue of $90K, expenses of $49K, and assets of $97K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Gig Harbor Boatshop:
Data Sources and Methodology
This transparency report for Gig Harbor Boatshop 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.