Tidewater Wooden Boat Workshop
EIN: 464756833 · Norfolk, VA · NTEE: N99
| Metric | Value |
|---|---|
| Total Revenue | $220K |
| Total Expenses | $229K |
| Net Assets | $157K |
Is Tidewater Wooden Boat Workshop Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Tidewater Wooden Boat Workshop
Tidewater Wooden Boat Workshop (EIN: 464756833) is a nonprofit organization based in Norfolk, VA, classified under NTEE code N99. The organization reported total revenue of $220K and total assets of $103K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Tidewater Wooden Boat Workshop's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Tidewater Wooden Boat Workshop is a small nonprofit that has been operating for 12 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 46.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $212K |
| Total Expenses | $229K |
| Surplus / Deficit | $-17,421 |
| Total Assets | $157K |
| Total Liabilities | $24 |
| Net Assets | $157K |
| Operating Margin | -8.2% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 8.2 months |
Financial Health Grade: B
In 2023, Tidewater Wooden Boat Workshop reported a deficit of $17K with expenses exceeding revenue, holds 8.2 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 10 years of filings (2014–2023), Tidewater Wooden Boat Workshop's revenue has grown at a compound annual growth rate (CAGR) of 46.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -8.3% | +8.2% | -10.0% |
| 2022 | -9.7% | +3.7% | +12.3% |
| 2021 | +58.6% | +22.7% | +47.5% |
| 2020 | -21.7% | -3.4% | -3.6% |
| 2019 | +33.1% | +4.2% | +44.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Tidewater Wooden Boat Workshop has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Tidewater Wooden Boat Workshop with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $17K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Tidewater Wooden Boat Workshop
Is Tidewater Wooden Boat Workshop a legitimate charity?
Tidewater Wooden Boat Workshop (EIN: 464756833) is a registered tax-exempt nonprofit based in Virginia. It has 10 years of IRS 990 filings on record. Total revenue: $220K. No red flags identified. Financial health grade: B.
How does Tidewater Wooden Boat Workshop spend its money?
Tidewater Wooden Boat Workshop reported $220K in total revenue in IRS 990 filings. 10 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Tidewater Wooden Boat Workshop tax-deductible?
Tidewater Wooden Boat Workshop is registered as a tax-exempt nonprofit (EIN: 464756833). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Tidewater Wooden Boat Workshop located?
Tidewater Wooden Boat Workshop is headquartered in Norfolk, Virginia and files with the IRS under EIN 464756833. It is classified under NTEE code N99.
How many years of IRS 990 filings does Tidewater Wooden Boat Workshop have?
Tidewater Wooden Boat Workshop has 10 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 $220K in total revenue.
Filing History
IRS 990 filing history for Tidewater Wooden Boat Workshop showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Tidewater Wooden Boat Workshop's revenue has grown by 3093.8%, moving from $7K to $212K. Total assets increased by 7706.2% over the same period, from $2K to $157K. Total functional expenses rose by 4859.7%, from $5K to $229K. In its most recent filing year (2023), Tidewater Wooden Boat Workshop reported a deficit of $17K, with expenses exceeding revenue. The organization holds $24 in liabilities against $157K in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $157K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $212K | $229K | $157K | $24 | — | — |
| 2022 | $231K | $212K | $175K | $24 | — | View 990 |
| 2021 | $256K | $205K | $155K | $24 | — | View 990 |
| 2020 | $161K | $167K | $105K | $1K | — | — |
| 2019 | $206K | $173K | $109K | $0 | — | View 990 |
| 2018 | $155K | $166K | $76K | $0 | — | View 990 |
| 2017 | $151K | $94K | $86K | $0 | — | View 990 |
| 2016 | $59K | $54K | $30K | $0 | — | View 990 |
| 2015 | $49K | $26K | $28K | $0 | — | View 990 |
| 2014 | $7K | $5K | $2K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $212K, expenses of $229K, and assets of $157K (revenue -8.3% year-over-year).
- 2022: Revenue of $231K, expenses of $212K, and assets of $175K (revenue -9.7% year-over-year).
- 2021: Revenue of $256K, expenses of $205K, and assets of $155K (revenue +58.6% year-over-year).
- 2020: Revenue of $161K, expenses of $167K, and assets of $105K (revenue -21.7% year-over-year).
- 2019: Revenue of $206K, expenses of $173K, and assets of $109K (revenue +33.1% year-over-year).
- 2018: Revenue of $155K, expenses of $166K, and assets of $76K (revenue +2.6% year-over-year).
- 2017: Revenue of $151K, expenses of $94K, and assets of $86K (revenue +156.2% year-over-year).
- 2016: Revenue of $59K, expenses of $54K, and assets of $30K (revenue +20.5% year-over-year).
- 2015: Revenue of $49K, expenses of $26K, and assets of $28K (revenue +637.0% year-over-year).
- 2014: Revenue of $7K, expenses of $5K, and assets of $2K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Tidewater Wooden Boat Workshop:
Data Sources and Methodology
This transparency report for Tidewater Wooden Boat Workshop 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.