Wooden Boat Foundation

Nonprofit profile at a glance

EIN
911031359
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Port Townsend, WA, USA
Phone
3603853628
Rating
88
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$598,480
Expenses
$598,480
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

25 people listed

Executive titles in this filing

  • SCOTT VOKEY (VICE PRESIDENT)
  • LYNN TERWOERDS (PRESIDENT)

People named in this filing

  • STEPHEN OLIVER (DIRECTOR)
  • KRIS MORRIS (DIRECTOR)
  • PETER GEERLOFS (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The wooden boat foundation celebrates and preserves traditional maritime skills, heritage, and culture through (a) presentation of educational events, regattas, workshops and seminars about wooden boats, (b) production of the annual wooden boats festival (c) supporting the physical restoration or wooden boats, including the documentation and learning opportunities involved with the restoration projects.

What it reported doing in 2024

The annual wooden boat festival is a community cultural event of international acclaim, with hundreds of wooden boats, educational exhibits and demonstrations of traditional and contemporary maritime arts, wooden boat building and presentations from experts in maritime trades and environmental education.

Operating model

Revenue model
Earned-program. 73% of the money available for current operations came from fees and other program revenue.
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.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 100
  • Sustainability: 26
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 0%; rating input score 36; 36th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 0; 0th percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 5.1% per year; rating input score 100; 43rd percentile among comparable filings
  • Revenue growth: 4.5% per year; rating input score 100; 40th percentile among comparable filings
  • Asset growth: Limited

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 25 of 25 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $598K in reported program spending
  • Leadership: top reported pay $0 · 25 people listed
  • Consistency: 18 of 18 current checks pass
  • Schedules: 4 filed schedules
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 1 filed related-organization link
  • 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 — Sustainability: Operating margin scored 36/100.
  • High — Sustainability: Total-asset coverage ratio scored 0/100.