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Nonprofiteer
← BROOKLYN BOATWORKS INC

Form 990 for tax year 2024

Filed by BROOKLYN BOATWORKS INC.

Totals

Total revenue
$927,458
Total expenses
$795,383
Contributions and grants received
$537,669
Grants paid
$0
Program service revenue
$286,787
Investment income
$8
Other revenue
$102,994
Total assets, end of year
$553,967
Total liabilities, end of year
$105,166
Net assets or fund balances, end of year
$448,801
Program services expenses (Part IX)
$565,957
Management and general expenses
$86,664
Fundraising expenses
$142,762
Program service expenses (Part III)
$565,957

Program services were 71.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $7,800

  • 1e · Government grants (contributions)

    $10,000

  • 1f · All other contributions, gifts and grants

    $519,869

  • 2a · Program service revenue: BOAT BUILDING AND SAIL

    total $286,787 · related or exempt $286,787

  • 3 · Investment income

    total $8 · excluded $8

  • 8a · Fundraising events: gross income

    $128,348

  • 8a · Fundraising events: contributions included on line 1c

    $7,800

  • 8b · Fundraising events: direct expenses

    $25,354

  • 8c · Net income from fundraising events

    total $102,994 · excluded $102,994

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $170,334 · program services $119,234 · management and general $34,067 · fundraising $17,033

  • 7 · Other salaries and wages

    total $341,265 · program services $293,625 · management and general $7,653 · fundraising $39,987

  • 8 · Pension plan contributions

    total $4,000 · program services $3,228 · management and general $326 · fundraising $446

  • 9 · Other employee benefits

    total $37,673 · program services $30,402 · management and general $3,072 · fundraising $4,199

  • 10 · Payroll taxes

    total $42,660 · program services $34,426 · management and general $3,479 · fundraising $4,755

  • 11c · Fees: accounting

    total $10,476 · management and general $10,476

  • 11e · Fees: professional fundraising services

    total $11,688 · fundraising $11,688

  • 11g · Fees: other

    total $48,922 · program services $2,627 · management and general $158 · fundraising $46,137

  • 13 · Office expenses

    total $18,506 · program services $4,719 · management and general $13,432 · fundraising $355

  • 14 · Information technology

    total $3,330 · management and general $2,879 · fundraising $451

  • 16 · Occupancy

    total $23,408 · program services $4,192 · management and general $1,505 · fundraising $17,711

  • 17 · Travel

    total $2,326 · program services $2,326

  • 19 · Conferences, conventions and meetings

    total $5,825 · program services $5,825

  • 20 · Interest

    total $706 · management and general $706

  • 23 · Insurance

    total $8,911 · management and general $8,911

  • 24a · Other expenses: PROGRAM MATERIALS AND S

    total $60,464 · program services $60,464 · management and general $0 · fundraising $0

  • 24b · Other expenses: FIELD TRIPS

    total $4,889 · program services $4,889 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,576 · end of year $59,334

  • 2 · Savings and temporary cash investments

    beginning of year $32,408 · end of year $147,416

  • 3 · Pledges and grants receivable

    beginning of year $126,000 · end of year $101,000

  • 4 · Accounts receivable

    beginning of year $239,814 · end of year $227,351

  • 15 · Other assets

    beginning of year $1,994 · end of year $18,866

  • 17 · Accounts payable and accrued expenses

    beginning of year $74,314 · end of year $65,120

  • 23 · Secured mortgages and notes payable

    beginning of year $23,752 · end of year $23,174

  • 25 · Other liabilities

    beginning of year $0 · end of year $16,872

  • 27 · Net assets without donor restrictions

    beginning of year $223,226 · end of year $347,801

  • 28 · Net assets with donor restrictions

    beginning of year $93,500 · end of year $101,000

Mission and programs · 2024

Mission

TO ENCOURAGE, INSPIRE AND EMPOWER YOUNG PEOPLE THROUGH THE UNIQUE CRAFT OF WOODEN BOATBUILDING AND ON-THE-WATER EXPERIENCES.

Activities or mission (Part I)

TO SUPPORT POSITIVE YOUTH DEVELOPMENT AND BUILD LEADERSHIP SKILLS THROUGH TEACHING THE CRAFT OF TRADITIONAL WOODEN BOAT BUILDING, SAILING, AND RESPECT FOR THE URBAN ENVIRONMENT.

  • BROOKLYN BOATWORKS WORKED WITH 328 YOUTH SPANNING 5TH TO 11TH GRADES. THE ORGANIZATION OVERSAW 14 BOAT BUILDS ACROSS SEVEN DIFFERENT SCHOOLS IN NEW YORK CITY. WITHIN EACH CLASS, STUDENTS COLLABORATED ON CRAFTING A 7'6" OPTIMIST PRAM SAILBOAT, USING WOODEN MATERIALS AND BASIC HAND TOOLS. STUDENTS LEARNED BASIC CONSTRUCTION AND TOOL SKILLS, APPLIED MEASUREMENT AND ESTIMATION, LOCAL WATERWAY GEOGRAPHY, NAUTICAL CHART READING, BUOYANCY, AND THE PHYSICS OF SAILING. BROOKLYN BOATWORKS EMPHASIZES COOPERATION, PERSEVERANCE, CRAFTSMANSHIP, AND EXPERIENTIAL LEARNING. TO CULMINATE THE SCHOOL YEAR, STUDENTS CELEBRATED THEIR ACHIEVEMENTS THROUGH AN IMPRESSIVE BOAT LAUNCH AND REGATTA. ADDITIONALLY, THE YOUTH WERE ACTIVELY INVOLVED IN VARIOUS ACTIVITIES, FIELD TRIPS, AND A SAILING CAMP. THROUGHOUT ALL OF BROOKLYN BOATWORKS'S ENDEAVORS, THE FOCUS REMAINED ON PROMOTING STEM AND MARITIME-CENTERED EDUCATION, HANDS-ON LEARNING, AND NURTURING HEALTHY SOCIAL-EMOTIONAL DEVELOPMENT.

    Expenses $565,957 · Revenue $286,787

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • SEAN YOUNG

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • NAVIN JHAMNA

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER POTTER

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • PETER GUY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEPHAN FORSTMANN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ABIGAIL VAN STRAATEN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • GLEN MIDDLETON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOYCE GOODMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEREMY WURMFELD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRUCE KAMINSTEIN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RAPHAEL DAVIS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CARL PERSAK III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MALKIE SCHWARTZ

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARIA FRANCISCA MAYOBRE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOYCE GOODMAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARGARETMARY MCNICHOLAS

    EXECUTIVE DIRECTOR

    Total calculated
    $167,442
    From this org
    $158,942
    From related orgs
    $0
    Other
    $8,500
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,942
    Bonus
    $0
    Other
    $0
    Deferred
    $8,500
    Nontaxable benefits
    $0
    Filer's total
    $167,442

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2026
IRS schema version
2024v5.5
Source object
202611349349309911

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