Civic Intelligence

Community Boating Inc

EIN 04-2084042 • 501(c)3 • Boston, MA

Profile

The mission of CBI Inc.,is to enable sailing for all. We offer sailing and other water sports to people of all ages, abilities, and means in the greater Boston are. We promote an accessible and welcoming environment that encourages learning, volunteerism, and community spirit.

21 David G Mugar WayBoston, MA 02114

community-boating.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

46th percentile

0.10x

Higher debt load relative to assets than 46% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Liabilities / Revenue

67th percentile

0.33x

Higher debt load relative to revenue than 67% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Net Margin

9th percentile

-34%

Higher net margin than 9% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

21st percentile

-3.8%

Faster asset growth than 21% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Revenue Growth

8th percentile

-34%

Faster revenue growth than 8% of similar nonprofits.

501(c)3 • $5M-$10M nonprofits • Annualized from 2023 to 2024

Assets

Down

$6,862,198

Down $268,593 (-3.8%) from 2023

Liabilities

Down

$666,215

Down $265,232 (-28%) from 2023

Net Assets

Down

$6,195,983

Down $3,361 (-0.1%) from 2023

Revenue

Down

$1,997,952

Down $1,035,048 (-34%) from 2023

Expenses

Down

$2,669,527

Down $135,824 (-4.8%) from 2023

Net Income

Down

-$671,575

Down $899,224 (-395%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$8.0M$6.0M$4.0M$2.0M$0Assets 2010: $1,351,362Liabilities 2010: $276,309Net Assets 2010: $1,075,0532010Assets 2011: $1,363,875Liabilities 2011: $252,222Net Assets 2011: $1,111,6532011Assets 2012: $1,545,701Liabilities 2012: $284,890Net Assets 2012: $1,260,8112012Assets 2013: $1,679,929Liabilities 2013: $225,081Net Assets 2013: $1,454,8482013Assets 2014: $1,918,967Liabilities 2014: $289,271Net Assets 2014: $1,629,6962014Assets 2015: $1,986,611Liabilities 2015: $325,706Net Assets 2015: $1,660,9052015Assets 2016: $2,135,883Liabilities 2016: $270,845Net Assets 2016: $1,865,0382016Assets 2017: $2,539,867Liabilities 2017: $297,315Net Assets 2017: $2,242,5522017Assets 2018: $2,457,779Liabilities 2018: $346,048Net Assets 2018: $2,111,7312018Assets 2019: $3,917,430Liabilities 2019: $368,852Net Assets 2019: $3,548,5782019Assets 2020: $4,300,231Liabilities 2020: $689,428Net Assets 2020: $3,610,8032020Assets 2021: $5,688,954Liabilities 2021: $577,905Net Assets 2021: $5,111,0492021Assets 2022: $6,151,174Liabilities 2022: $669,711Net Assets 2022: $5,481,4632022Assets 2023: $7,130,791Liabilities 2023: $931,447Net Assets 2023: $6,199,3442023Assets 2024: $6,862,198Liabilities 2024: $666,215Net Assets 2024: $6,195,9832024

Highlighted filing

2024

Assets$6,862,198
Liabilities$666,215
Net Assets$6,195,983

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$3.0M$2.0M$1.0M$0-$1.0MExpenses 2010: $1,181,1642010Expenses 2011: $1,167,2202011Revenue 2012: $1,323,151Expenses 2012: $1,244,584Net Income 2012: $78,5672012Revenue 2013: $1,276,647Expenses 2013: $1,248,263Net Income 2013: $28,3842013Revenue 2014: $1,560,566Expenses 2014: $1,423,488Net Income 2014: $137,0782014Revenue 2015: $1,629,870Expenses 2015: $1,544,617Net Income 2015: $85,2532015Revenue 2016: $1,686,138Expenses 2016: $1,586,910Net Income 2016: $99,2282016Revenue 2017: $1,739,515Expenses 2017: $1,585,540Net Income 2017: $153,9752017Revenue 2018: $1,671,864Expenses 2018: $1,661,612Net Income 2018: $10,2522018Revenue 2019: $2,832,355Expenses 2019: $1,802,491Net Income 2019: $1,029,8642019Revenue 2020: $925,385Expenses 2020: $1,224,115Net Income 2020: -$298,7302020Revenue 2021: $2,833,055Expenses 2021: $1,759,152Net Income 2021: $1,073,9032021Revenue 2022: $3,230,896Expenses 2022: $2,171,753Net Income 2022: $1,059,1432022Revenue 2023: $3,033,000Expenses 2023: $2,805,351Net Income 2023: $227,6492023Revenue 2024: $1,997,952Expenses 2024: $2,669,527Net Income 2024: -$671,5752024

Highlighted filing

2024

Revenue$1,997,952
Expenses$2,669,527
Net Income-$671,575

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$6.86$0.67$6.20$2.00$2.67$0.67
2023Detailed filing. Detailed filing data is available for this year.$7.13$0.93$6.20$3.03$2.81$0.23
2022Detailed filing. Detailed filing data is available for this year.$6.15$0.67$5.48$3.23$2.17$1.06
2021Detailed filing. Detailed filing data is available for this year.$5.69$0.58$5.11$2.83$1.76$1.07
2020Detailed filing. Detailed filing data is available for this year.$4.30$0.69$3.61$0.93$1.22$0.30
2019Detailed filing. Detailed filing data is available for this year.$3.92$0.37$3.55$2.83$1.80$1.03
2018Detailed filing. Detailed filing data is available for this year.$2.46$0.35$2.11$1.67$1.66$0.01
2017Detailed filing. Detailed filing data is available for this year.$2.54$0.30$2.24$1.74$1.59$0.15
2016Detailed filing. Detailed filing data is available for this year.$2.14$0.27$1.87$1.69$1.59$0.10
2015Detailed filing. Detailed filing data is available for this year.$1.99$0.33$1.66$1.63$1.54$0.09
2014Detailed filing. Detailed filing data is available for this year.$1.92$0.29$1.63$1.56$1.42$0.14
2013Detailed filing. Detailed filing data is available for this year.$1.68$0.23$1.45$1.28$1.25$0.03
2012Summary only. Only limited summary data is available for this year.$1.55$0.28$1.26$1.32$1.24$0.08
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.36$0.25$1.11$1.17
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.35$0.28$1.08$1.18
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Sep 23, 2025
Return Version
2024v5.2
Gross Receipts
$2,067,267
Mission and Program Overview

Mission

The mission of CBI Inc.,is to enable sailing for all. We offer sailing and other water sports to people of all ages, abilities, and means in the greater Boston are. We promote an accessible and welcoming environment that encourages learning, volunteerism, and community spirit.

To make sailing and water sports accessible to people of all ages, abilities, and backgrounds.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$4,487,087$5,241,296▲ $754,209
Land, Buildings, and Equipment, Net$618,417$750,005▲ $131,588
Savings and Temporary Cash Investments$627,179$328,311▼ $298,868
Cash and Non-Interest-Bearing Accounts$709,544$167,348▼ $542,196
Prepaid Expenses and Deferred Charges$233,055$151,544▼ $81,511
Intangible Assets$0$91,170▲ $91,170
Pledges and Grants Receivable$348,597$43,000▼ $305,597
Accounts Receivable$5,950$12,827▲ $6,877
Total Assets$7,130,791$6,862,198▼ $268,593
Other Assets Total$100,962$76,697▼ $24,265
Liabilities
Deferred Revenue$485,107$415,370▼ $69,737
Unsecured Notes Loans Payable$142,048$141,539▼ $509
Other Liabilities$103,065$78,332▼ $24,733
Accounts Payable and Accrued Expenses$201,227$30,974▼ $170,253
Total Liabilities$931,447$666,215▼ $265,232
Net Assets / Fund Balance
Net Assets With Donor Restrictions$4,983,339$5,294,777▲ $311,438
Net Assets Without Donor Restrictions$1,216,005$901,206▼ $314,799
Total Net Assets Fund Balance$6,199,344$6,195,983▼ $3,361
Total Liabilities and Net Assets / Fund Balance$7,130,791$6,862,198▼ $268,593

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$750,005$1,367,641$2,117,646
Leasehold Improvements$0$45,968$45,968
Other Securities$1,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2024$4,890,836$21,938▲ $542,253$181,119$5,273,908
2023$4,043,675$427,658▲ $573,258$153,755$4,890,836
2022$3,721,320$1,072,297▼ $603,384$146,558$4,043,675
2021$3,223,876$116,256▲ $490,320$109,132$3,721,320
2020$2,904,172$19,288▲ $413,575$113,159$3,223,876
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Charlie ZechelExecutive DirectorFT$129,654$42,634$172,288

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$212,709
Program Service Revenue
$1,730,798
Investment Income
$42,285
Other Revenue
$12,160
All Other Contributions
$115,906
Change in Net Assets
$-671,575

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,997,952
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$668,214
Total Revenue per Audited Statements
$2,666,166
Total Revenue per Form 990
$1,997,952
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,750,314
Other Expenses$919,213
Total Fundraising Expense$97,200
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,153,649$113,822$30,477$1,297,948
Occupancy$198,893$11,076$11,076$221,045
Depreciation Depletion$199,535--$199,535
Other Employee Benefits$130,880$20,642$6,613$158,135
Current Officers, Directors, Trustees, and Key Employees$45,150$75,250$30,100$150,500
Payroll Taxes$95,630$15,083$4,832$115,545
Insurance$85,965-$4,525$90,490
Advertising-$62,416-$62,416
Pension Plan Contributions$23,328$3,679$1,179$28,186
Fees for Service Investment Mgmnt Fees-$25,704-$25,704
Information Technology$23,746-$1,250$24,996
Fees for Services Accounting-$23,100-$23,100
Travel$16,719-$880$17,599
Fees for Services Legal-$15,020-$15,020
Office Expenses$13,503-$542$14,045
Other Expenses$7,743$0$0$7,743
Interest-$3,972-$3,972
Total Functional Expenses$2,133,428$438,899$97,200$2,669,527

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,669,527
Total Expenses per Audited Statements$2,669,527
Total Expenses per Form 990$2,669,527
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$73,855
Fundraising Direct Expenses$61,695
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
July 4$158,878$62,075$44,647$17,428
All Other$11,780$11,780$5,794$5,986
Total Events$170,658$73,855$61,695$12,160
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Lease Liability$78,332
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

Cbi's governance structure has a body of members called the "corporation". The corporation members are distinct from boating memberships and many corporation members do not have a boating membership. The corporation members vote for the board of directors and one must be a corporation member to be a director. The corporation, via the elected board of directors, employs the executive director to run cbi operations.

Form 990, Part VI, Section A, Line 7A

SEE LINE 6 EXPLANATION.

Form 990, Part VI, Section A, Line 7B

SEE LINE 6 EXPLANATION.

Form 990, Part VI, Section A, Line 8B

The organization did not maintain contemporaneous documentation for all sub-committees with authority to act on behalf of governing body.

Form 990, Part VI, Section B, Line 11B

The 990 is emailed out to the budget and finance committee and the board prior to filing. If they have questions or concerns, they can get in touch with the treasurer of the board and their question is addressed prior to filing the 990.

Form 990, Part VI, Section B, Line 12C

The conflict of interest policy is signed each year by each member of the board of directors, officers, and key employees.

Form 990, Part VI, Section B, Line 15

When hiring a new executive director or manager, it is organization policy that the compensation committee does a review using comparative data with other nonprofit organizations. The compensation committee will then recommend an amount to the board. The board sets compensation for exisiting senior management and those hired. Key employee compensation is set by the compensation committee of the board.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request. The attorney generals office of massachusetts makes the form 990 and financial statements available on their website for public inspection.

Filing and Contact Details

Filer

Filer Name
Community Boating Inc
EIN
04-2084042
Phone
6175231038
Address
21 DAVID G MUGAR WAY, BOSTON, MA 02114

Signing Officer

Name
Kate Ferris Richardson
Title
Executive Director
Phone
6175231038
Signed
2025-09-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kate Ferris Richardson
Formed
1946
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
9
Employees
120
Volunteers
120

Preparer

Firm
Litmangerson Associates Llp
Address
500 WEST CUMMINGS PARK SUITE 5650, WOBURN, MA 01801
Preparer
Robert F Hart Jr
Phone
7815694700
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

This process has not changed from the prior year.

Financial Statement Notes

PART V, LINE 4:

To provide a predictable stream of funding to the programs and operations supported by the endowment, while also seeking to maintain the long-term purchasing power of the endowment assets.

PART X, LINE 2:

The organization accounts for the uncertainty in income taxes in accordance with fasb asc topic no. 740, income taxes (asc 740), which prescribes a recognition threshold of more likely-than-not, and a measurement attribute for all tax positions taken or expected to be taken on a tax return, in order for those tax positions to be recognized in the financial statements. When necessary, the organization accounts for interest and penalties related to uncertain tax positions as part of its provision for income taxes. The organization does not expect that unrecognized tax benefits arising from tax positions will change significantly within the next 12 months.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Special events - costs of direct benefits received by donors

Raw XML AppendixShowing 400 of 635 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/ActivityOrMissionDesc0TO MAKE SAILING AND WATER SPORTS ACCESSIBLE TO PEOPLE OF ALL AGES, ABILITIES, AND BACKGROUNDS.
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IRS990/Desc0THE ADULT AND HIGH SCHOOL PROGRAMS SERVE APPROXIMATELY 4000 INDIVIDUALS EACH YEAR BY PROVIDING CLASSES AND LESSONS THAT TEACH NAUTICAL ARTS AND SCIENCES INCLUDING SAILING, PADDLING, WINDSURFING, SEAMANSHIP, AND NAVIGATION. MEMBERS HAVE ACCESS TO OUR FLEET OF 180+ VESSELS ON THE CHARLES RIVER LOWER BASIN AND ARE ENCOURAGED TO PARTICIPATE IN ORGANIZED RACING, BOTH INFORMAL AND FORMAL. THE ADULT PROGRAM OPERATES SEVEN DAYS PER WEEK.
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IRS990/Form990PartVIISectionAGrp/TitleTxt0PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt1PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt11EXECUTIVE DIRECTOR
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IRS990/MissionDesc0THE MISSION OF CBI IS TO ENABLE "SAILING FOR ALL." WE OFFER SAILING AND OTHER WATER SPORTS TO PEOPLE OF ALL AGES, ABILITIES, AND MEANS IN THE GREATER BOSTON AREA. WE PROMOTE AN ACCESSIBLE AND WELCOMING ENVIRONMENT THAT ENCOURAGES LEARNING, VOLUNTEERISM, AND COMMUNITY SPIRIT.
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IRS990/PrincipalOfficerNm0KATE FERRIS RICHARDSON
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IRS990/ProgSrvcAccomActy2Grp/Desc0THE JUNIOR PROGRAM SERVES OVER 1200 CHILDREN BY PROVIDING CLASSES, LESSONS, AND INSTRUCTION IN THE NAUTICAL ARTS AND SCIENCES INCLUDING SAILING, PADDLING, AND WINDSURING. JUNIOR PROGRAM SAILORS MAY TAKE CLASSES, PARTICIPATE IN RACING, AND HAVE ACCESS TO OUR FLEET OF 180+ VESSELS DURING JUNIOR PROGRAM OPERATING HOURS.
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IRS990/ProgSrvcAccomActy2Grp/RevenueAmt0483571
IRS990/ProgSrvcAccomActy3Grp/Desc0THE UNIVERSAL ACCESS PROGRAM (UAP) SERVE OVER 250 INDIVIDUALS WITH DISABILITIES, BOTH PHYSICAL AND COGNITIVE, BY TEACHING THE NAUTICAL ARTS AND SCIENCES OF SAILING, PADDLING, AND WINDSURFING. UAP SAILORS MAY MAKE APPOINTMENTS FOR A SCHEDULED LESSON OR RECREATIONAL SAILS WITH A QUALIFIED INSTRUCTOR.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0244963
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt0198732
IRS990/ProgSrvcAccomActyOtherGrp/Desc0THE ORGANIZATION CARRIES ON ANCILLARY ACTIVITIES AND PROGRAMMING IN SUPPORT OF THE ORGANIZATION'S MISSION.
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