TIDEWATER WOODEN BOAT WORKSHOP

EIN: 464756833 501(c)(3) Recreation & Sports

NORFOLK, VA

Total Revenue
$219,471
Total Expenses
$273,259
Total Assets
$103,326
Net Assets
$103,326
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2014
Principal Officer
THOMAS BRANDL
Phone
7573539418
Tax Period
2024-01-01 to 2024-12-31

TIDEWATER WOODEN BOAT WORKSHOP, founded in 2014, is a small nonprofit in the Recreation & Sports sector that reported $219K in total revenue in fiscal year 2024. Expenses of $273K exceeded revenue, resulting in a 25% operating deficit.

Mission

TEACH STEM AND LIFE SKILLS TO DISADVANTAGED YOUTH THROUGH THE BUILDING OF WOODEN BOATS AND OTHER NAUTICAL ACTIVITIES.

Program Service Accomplishments

Program 1
Expenses: $204,185 Revenue: $11,489

DURING 2024, TWBW SERVED A TOTAL OF 290 HAMPTON ROADS YOUTHS AGES 10 -24. THEY PARTICIPATED IN OUR UNIQUE BOATBUILDING ACTIVITIES AS PART OF OUR AFTER-SCHOOL, DURING-SCHOOL-TIME, AND SUMMER CAMP...

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DURING 2024, TWBW SERVED A TOTAL OF 290 HAMPTON ROADS YOUTHS AGES 10 -24. THEY PARTICIPATED IN OUR UNIQUE BOATBUILDING ACTIVITIES AS PART OF OUR AFTER-SCHOOL, DURING-SCHOOL-TIME, AND SUMMER CAMP PROGRAMS. DURING THE WINTER OF 2024, THE STUDENTS BEGAN WORK ON A 14-FOOT SAILBOAT AND COMPLETED A 12-FOOT ROWBOAT, TWO PRAMS, AND THEIR CORRESPONDING OARS. THEY WERE ABLE TO LATER ROW THESE CRAFTS ON LOCAL WATERS DURING THE SPRING PROGRAM. DURING THE SUMMER, OVER 65 KIDS PARTICIPATED IN OUR WEEK-LONG NAUTICAL SKILLS CAMPS. DURING SEPTEMBER TO DECEMBER, TWBW AGAIN SET A RECORD FOR THE NUMBER OF STUDENTS IN OUR FALL PROGRAM, WITH 85 PARTICIPANTS. THESE STUDENTS SUCCESSFULLY BUILT TWO 16-FOOT CANOES AND FOUR OARS WHILE ALSO CONTINIUING WORK ON THE 14-FOOT SAILBOAT THAT HAD BEEN STARTED IN THE WINTER PROGRAM. ADDITIONALLY, IN MARCH 2024, EIGHT STUDENTS SUCCESSFULLY COMPLETED TWBW'S PRE-APPRENTICE PROGRAM FOR DISCONNECTED YOUTH, AGES 17 -24. DURING THE 24 WEEK PROGRAM, THEY WERE TAUGHT CARPENTRY AND OTHER EMPLOYMENT SKILLS THAT EMPLOYERS IN ANY INDUSTRY SEEK IN THEIR WORKERS. THROUGHOUT THE YEAR TWBW PARTNERED WITH OTHER YOUTH NONPROFITS IN THE HAMPTON ROADS AREA. FEEDBACK FROM THESE ORGANIZATIONS, AS WELL AS FROM PARENTS, TEACHERS, AND THE STUDENTS THEMSELVES INDICATES OUR UNIQUE PROGRAMS ARE HAVING A POSITIVE IMPACT ON THE LIVES OF THE KIDS WHO PARTICIPATE IN OUR PROGRAMS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $207,563
Program Service Revenue $11,489
Investment Income $0
Other Revenue $419
TOTAL REVENUE $219,471

Expense Breakdown

Grants Paid $0
Salaries & Benefits $199,829
Fundraising Expenses $16,975
Program Expenses $204,185
Other Expenses $61,056
TOTAL EXPENSES $273,259

Year-over-Year Comparison

2024 2023 Change
Revenue $219,471 $212,066 +0.0%
Expenses $273,259 $229,487 +0.2%
Net Income $-53,788 $-17,421 +2.1%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

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Governance

Voting Members
10
Independent Members
9
Employees
4
Volunteers
22

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$48,000
Total Directors
10
$48,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARIE A FINCH PRESIDENT 3.00
Officer Director
$0 $0 $0
BRIAN FINCH TREASURER 3.00
Officer Director
$0 $0 $0
BONNIE LENNOX SECRETARY 3.00
Officer Director
$0 $0 $0
THOMAS BRANDL EXECUTIVE DI 40.00
Officer Director
$48,000 $0 $48,000
JOHN KOVAC DIRECTOR 1.00
Director
$0 $0 $0
MICHAEL HITCHCOCK DIRECTOR 1.00
Director
$0 $0 $0
DM MCDUFFIE DIRECTOR 1.00
Director
$0 $0 $0
PAUL MINIHAN DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER RAFFERTY DIRECTOR 1.00
Director
$0 $0 $0
JENNIFER RAWLINGS DIRECTOR 1.00
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $219,471 $273,259 $103,326 $-53,788
2023 $212,066 $229,487 $157,138 $-17,421
2022 $231,212 $212,078 $174,559 $19,134
2021 $255,918 $204,518 $155,425 $51,400
2020 $161,346 $166,640 $105,357 $-5,294
2019 $206,182 $172,521 $109,295 $33,661
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