The Boat Company Ltd
| Fiscal year | Revenue | Expenses | Net | Reserve mo. | Staff % |
|---|---|---|---|---|---|
| 2020 | 1,043,453 | 2,696,246 | −1,652,793 | -14.5 | 40% |
| 2021 | 3,351,629 | 2,450,350 | 901,279 | -11.5 | 43% |
| 2022 | 6,583,013 | 5,847,985 | 735,028 | -3.3 | 41% |
| 2023 | 6,465,520 | 6,830,770 | −365,250 | -3.5 | 43% |
In its most recent public year (2023), this organization spent $365,250 more than it brought in. Its liabilities exceeded its net assets — reserves were below zero (-3.5 months), up from -14.5 in 2020. Staff pay was 43% of spending.
Reserve months = net assets ÷ average monthly spending; net assets count everything the organization owns beyond its debts — buildings and donor-restricted funds included, not just cash. Staff pay = salaries, wages, and officer compensation; it excludes benefits and payroll taxes. The IRS releases this data years after the fact — this organization's newest public year is 2023. Years refer to the calendar year in which the organization's fiscal year ended. Short-form filers do not publicly report donor-restricted balances or staffing costs. Source filings
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