Civic Intelligence

Community Boating Inc.

990 • Fiscal year 2013 • EIN 04-2084042

Jan 01, 2013 to Dec 31, 2013 • Filed on Jun 02, 2014

21 David G Mugar WayBoston, MA 02114

(617) 523-1038

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

52nd percentile

0.13x

Higher debt load relative to assets than 52% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Liabilities / Revenue

59th percentile

0.18x

Higher debt load relative to revenue than 59% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Net Margin

49th percentile

2.2%

Higher net margin than 49% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Top Officer Pay

70th percentile

$91,485

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 7.2% of source-year revenue.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2013

Asset Growth

68th percentile

8.7%

Faster asset growth than 68% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Revenue Growth

31st percentile

-3.5%

Faster revenue growth than 31% of similar nonprofits.

2013 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2012 to 2013

Assets

Up

$1,679,929

Up $134,228 (+8.7%) from 2012

Net Assets

Up

$1,454,848

Up $194,037 (+15%) from 2012

Liabilities

Down

$225,081

Down $59,809 (-21%) from 2012

Revenue

Down

$1,276,647

Down $46,504 (-3.5%) from 2012

Expenses

Up

$1,248,263

Up $3,679 (+0.3%) from 2012

Net Income

Down

$28,384

Down $50,183 (-64%) from 2012

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2013

Assets$1,679,929
Liabilities$225,081
Net Assets$1,454,848

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2013

Revenue$1,276,647
Expenses$1,248,263
Net Income$28,384
Jump To
Filing Snapshot
Filing Period
Jan 1, 2013 to Dec 31, 2013
Signed
Jun 2, 2014
Return Version
2013v3.1
Gross Receipts
$1,358,853
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.

CBI was organized to provide the opportunity to sail / learn to sail to the public.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$1,005,381$1,173,052▲ $167,671
Cash and Non-Interest-Bearing Accounts$294,609$285,314▼ $9,295
Land, Buildings, and Equipment, Net$217,419$195,499▼ $21,920
Prepaid Expenses and Deferred Charges$15,195$25,589▲ $10,394
Inventories for Sale or Use$7,242--
Accounts Receivable$5,855$475▼ $5,380
Total Assets$1,545,701$1,679,929▲ $134,228
Liabilities
Deferred Revenue$232,000$177,950▼ $54,050
Accounts Payable and Accrued Expenses$52,890$47,131▼ $5,759
Total Liabilities$284,890$225,081▼ $59,809
Net Assets / Fund Balance
Temporarily Rstr Net Assets$661,720$883,577▲ $221,857
Permanently Rstr Net Assets$330,254$375,146▲ $44,892
Unrestricted Net Assets$268,837$196,125▼ $72,712
Total Net Assets Fund Balance$1,260,811$1,454,848▲ $194,037
Total Liabilities and Net Assets / Fund Balance$1,545,701$1,679,929▲ $134,228

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$195,499$852,946$1,048,445
Other Securities$1,147,901--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2013$1,025,236$44,892▲ $187,418$41,375$1,216,171
2012$881,692$83,542▲ $91,928$31,926$1,025,236
2011$941,086$25,035▲ $10,653$95,082$881,692
2010$914,579$6,308▲ $20,199-$941,086
2009$872,707$18,720▲ $23,152-$914,579
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Charlie ZechelExecutive DirectorFT$91,485$91,485

Board Members and Trustees

NameTitle
Kayrn BrudnickiBoard President
Adam LipsonVice President
Adam Gorlovsky ShcheppDirector
Andrew GriesingerDirector
Gary DuMoulinDirector
Jay KronfeldDirector
Chip GaysunasAsst Treasurer
Scott KlineClerk
Brian McManusTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$210,610
Program Service Revenue
$1,153,298
Investment Income
$-5,055
Other Revenue
$-82,206
All Other Contributions
$210,610
Change in Net Assets
$28,384

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,276,647
Revenue Not Reported on Form 990
$418,691
Total Revenue per Audited Statements
$1,695,338
Total Revenue per Form 990
$1,276,647
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$914,988
Other Expenses$333,275
Total Fundraising Expense$70,070
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$579,210$56,480$32,966$668,656
Other Employee Benefits$75,113$14,259$6,249$95,621
Current Officers, Directors, Trustees, and Key Employees$19,460$55,182$16,843$91,485
Depreciation Depletion$82,307--$82,307
Other Expenses$68,061$3,987$3,987$76,035
Payroll Taxes$46,645$8,700$3,881$59,226
Advertising$29,131$1,618$1,618$32,367
Insurance$21,608$1,200$1,200$24,008
Fees for Services Accounting$8,996$500$500$9,996
Office Expenses$8,869$493$493$9,855
Fees for Services Other$1,426$79$79$1,584
Total Functional Expenses$1,033,441$144,752$70,070$1,248,263

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$1,501,301
Expenses per Audited Statements$1,248,263
Total Expenses per Form 990$1,248,263
Expenses Not Reported on Form 990$253,038
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

The 990 is emailed out to the budget and finance committee of the Board of Directors before it is filed. 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.

Conflict of interest policy compliance Part VI line 12C

The conflict of interest policy is signed each year by each member of the Board of Directors.

CEO executive director top management comp Part VI line 15A

When hiring a new executive director or manager, it is company policy that the compensation comittee does a review using comparative data with other non profit organizations. The compensation committee will then recommend an amount to the Board. The Board sets compensation for existing senior management and those hired.

Other officer or key employee compensation Part VI line 15B

Key employee compensation is set by the compensation comittee of the Board.

Governing documents etc available to public Part VI line 19

The Organization makes it governing documents, conflict of interest policy and financial statements available to the public upon request. The attorney general's office of Massachusetts makes the form 990 and financial statements available on their website for public inspection.

Filing and Contact Details

Filer

EIN
04-2084042

Signing Officer

Name
Brian McManus
Title
Charlie Zechel
Signed
2014-06-02
Discuss with paid preparer
No

Organization Details

Formed
1946
Legal Domicile
Ma
Voting Board Members
9
Independent Board Members
9
Employees
71

Preparer

Preparer
Melissa Gilroy
Phone
7816964019
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Other changes in net assets is due to the recording of net unrealized and realized gains and losses on the financial statement not required to be reflected in the form 990.

General explanation attachment

Other program expense relates to the Universal Access Program which serves persons with disabilities learn to sail.

Financial Statement Notes

Other revenues not included on Form 990 (Part XI, line 2D)

Revenue included in the audited financial statements include in kind donated services and facilities that are not required to be included in the 990. Additionally, the cost of sales is netted against gross revenue in compliance with the 990 instructions but not required for financial statement presentation purposes. Cost of good sold is considered an expense for financial statement presentation.

Other expenses not included on Form 990 (Part XII, line 2D)

The audited financial statements require in kind facilities and services be included in expenditures. This is excluded for 990 filing purposes. Additionally, cost of sales in included in expenses for financial statement purposes but netted against revenue for tax filing purposes.

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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt1180310
IRS990/ProgSrvcAccomActy2Grp/Desc0The Junior Program - nearly two thousand Boston area children joined in sailing, kayaking, rowing and other recreating for a nominal charge ranging from $1 to $200 per child.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt0320671
IRS990/ProgSrvcAccomActy3Grp/Desc0Ancillary Activities - Provided for the convenience of members including parking, locker rentals, snack bar, and sales of related boating and sailing items.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt065023
IRS990/ProgSrvcAccomActyOtherGrp/Desc0Universal access program - serves persons with disabilities lean to sail.
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IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
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IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt0852946
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IRS990ScheduleD/OtherExpensesIncludedAmt082206
IRS990ScheduleD/OtherRevenueAmt082206
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IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt11147901

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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