Hoboken Cove Community Boathouse Inc
Nonprofit profile at a glance
- EIN
- 341974845
- IRS 990-EZ coverage
- 2021–2024
- Forms available
- Form 990-EZ 2024, Form 990-N 2013
- Location
- Hoboken, NJ, USA
- Phone
- 5513598672
- Rating
- 68
- Verdict
- SUPPORTED
- Rating confidence
- Moderate
- Sector
- Physical Fitness and Community Recreational Facilities
Reported finances
- Revenue
- $62,819
- Expenses
- $26,421
- Assets
- $197,169
- Liabilities
- $0
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
6 people listed
Executive titles in this filing
- Jon Miller (Board Member and President)
- Carter Craft (Board Member and Vice-President)
People named in this filing
- Jon Miller (Board Member and President)
- Carter Craft (Board Member and Vice-President)
- Malky Adelman (Board Member and Secretary)
Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.
Source: IRS Form 990-EZ. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Hoboken Cove Community Boathouse (HCCB) and its Outrigger Canoeing Arm, named "Ke Aloha", provided access to the Hudson River Estuary to over 4,000 people via free kayaking, stand-up paddleboarding (SUP), and outrigger canoeing (OC). In order to do this properly, training and trips on the Hudson River for volunteers were required. Among those who were served were visually impaired and blind people; some lower-income people also were given access to the Hudson. Also, the volunteers and others cleaned the water, the beach, and the rocks of Hoboken Cove of plastic and other debris, as part of the Planet Patrol organization.
What it reported doing in 2024
Organized and operated the Hudson River Cup, which is a kayak, paddleboard, surfski, and canoe race on the Hudson River starting and ending in Hoboken, NJ. Approximately 100 paddlers participated in over 50 craft. This year, the race was held over two days: on the first day, there were 6-person canoe races (a first in many years), and on the second day, smaller 1-2 person boats raced on the Hudson River. Additionally, there was a cultural festival about Hawaiian and Polynesian outrigger canoe culture that was free for the public. This event was partially supported by a grant from Goldman Sachs Community Gives and supplemented by race fees.
Operating model
- Revenue model
- Donor-supported. 75% of the money available for current operations came from contributions and gifts.
- 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
SUPPORTED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 38
- Transparency & Controls: 100
- Sustainability: 85
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 24.8%; rating input score 25
- Program expense ratio: 59%; rating input score 59
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
Sustainability
- Operating margin: 57.9%; rating input score 93; 93rd percentile among comparable filings
- Total-asset coverage ratio: 7.46; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 68; 68th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings
Growth
- Program expense growth: 48.3% per year; rating input score 100; 93rd percentile among comparable filings
- Revenue growth: 34.6% per year; rating input score 100; 95th percentile among comparable filings
- Asset growth: 24.2% per year; rating input score 100; 89th percentile among comparable filings
Details
- Where the money goes: 24.8% of revenue deployed · 59% of spending went to programs
- Governance: Filed governance answers
- Accomplishments: 3 filed program accomplishments · $16K in reported program spending
- Leadership: top reported pay $0 · 6 people listed
- Consistency: 9 of 9 current checks pass
- Schedules: 3 filed schedules
- Filing history: 4 filing years from 2021 to 2024
- Contacts: How to reach this organization
- 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.
- High — Financial Efficiency: Mission deployment rate scored 25/100.
- Review — Financial Efficiency: Program expense ratio scored 59/100.
- Review — Sustainability: Officer compensation ratio scored 56/100.