Canal Dock Boathouse Incorporated
Nonprofit profile at a glance
- EIN
- 464634200
- IRS 990 coverage
- 2019–2024
- Forms available
- Form 990 2024, Form 990-EZ 2018, Form 990-N 2017
- Location
- New Haven, CT, USA
- Phone
- 2036688886
- Rating
- 82
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Swimming & Other Water Recreation
Reported finances
- Revenue
- $359,338
- Expenses
- $377,549
- Assets
- $204,521
- Liabilities
- $6,265
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
13 people listed
Executive titles in this filing
- Hollis Martens (Executive Director)
- Mitz Carr (Board President)
- Susan Lane (Vice President)
Highest reported compensation
- Hollis Martens (Executive Director): $56,861 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Canal Dock Boathouse's mission statement of "Opening New Haven's Waterfront for Adventure, Discovery and Growth" encapsulates the organization's purpose to provide access to and programs in and around Long Island Sound, New Haven's Harbor and rivers to underserved communities. It affirms its intent to assist in building self-confidence; clarifies its partnership with the New Haven community; and defines its core service areas. With this mission, Canal Dock's services and programs will focus on providing New Haven residents with community programs and activities that connect residents to the waterfront.
What it reported doing in 2024
Local teens are introduced to the New Haven waterfront through rowing and paddling activities during Canal Dock's summer camp and afterschool programs, which are free and accessible to low income students.Area residents participate in Canal Dock's free seasonal monthly Community Day events that feature dragon boating, sailing, rowing and kayaking. Canal Dock has on-going partnerships with numerous local public and charter schools including Metropolitan Business Academy, Common Ground High School, Engineering and Science University Magnet School (ESUMS) and the Sound School. Canal Dock increased its water based activities by adding sailing memberships and lessons. Discounted membership fees are offered to residents who could not otherwise afford the membership fees.Canal Dock offers annual memberships to area residents allowing them to use the Organization's boats and equipment for recreation.
Operating model
- Revenue model
- Mixed. Its operating money came from several sources; no one source provided a clear majority.
- Distribution model
- Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 75
- Transparency & Controls: 92
- Accountability: 90
- Sustainability: 28
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 82.4%; rating input score 82
- Program expense ratio: 78.4%; rating input score 78
- Fundraising efficiency: $8.28 raised per $1 spent on fundraising; rating input score 34; 34th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 8 controls in place; rating input score 75
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -5.1%; rating input score 29; 29th percentile among comparable filings
- Total-asset coverage ratio: 0.54; rating input score 26; 26th percentile among comparable filings
- Liabilities to assets ratio: 0.03; rating input score 36; 36th percentile among comparable filings
- Officer compensation ratio: 15.1%; rating input score 24; 24th percentile among comparable filings
Growth
- Program expense growth: 6.3% per year; rating input score 100; 59th percentile among comparable filings
- Revenue growth: 13.3% per year; rating input score 100; 79th percentile among comparable filings
- Asset growth: 1.1% per year; rating input score 100; 29th percentile among comparable filings
Details
- Where the money goes: 82.4% of revenue deployed · 78.4% of spending went to programs
- Governance: 12 of 12 board members independent · 6 of 8 filing controls reported
- Programs: 1 filed program accomplishment · $296K in reported program spending
- Leadership: top reported pay $57K · 13 people listed
- Consistency: 25 of 25 current checks pass
- Schedules: 5 filed schedules · includes major donors
- Filing history: 6 filing years from 2019 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Related organizations: Filed and resolved organization relationships.
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Fundraising efficiency scored 34/100.
- High — Sustainability: Operating margin scored 29/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Total-asset coverage ratio scored 26/100.
- High — Sustainability: Officer compensation ratio scored 24/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 36/100.