Upper Valley Rowing Foundation EIN 02-0508228 Form 990 (PDF) Claim this org

Upper Valley Rowing Foundation FY2023 filing

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Offers rowing opportunities, instruction, and education on the Connecticut River for community members. For fiscal year 2023 it reported $271K in revenue, $213K in expenses, and $673K in net assets.Pt I

Type
Public charity (501(c)(3)) · Recreation & Sports
Location
Hanover, NH
Website
www.uppervalleyrowing.org
Filings
5 on file (2020–2023)
Revenue
$271KFY2023
Expenses
$213K
Net assets
$673K
People
14
Filings
5
Updates
0
More identity details & actions ⌄
EIN  02-0508228 Public charity (501(c)(3)) Hanover, NH
Form 990 (PDF)
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →
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Size
$100K–1M
What they do
Offers rowing opportunities, instruction, and education on the Connecticut River for community members.
Leadership
Martha Beattie · Director
Money in and out
$271K revenue, $213K expenses
Bottom line
93% program efficiency
Where the money goes · FY2023
Total revenue
$271K
Pt VIII · Ln 12
Total expenses
$213K
Pt IX · Ln 25
Net assets
$673K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $58K
Where spending went · Part IX cols B–D
Program services $0.93 Management & general $0.07
Program efficiency
93%
of spending reaches programs
Operating runway
19.5mo
months of highly liquid reserves at operating expense rate
Surplus margin
+21%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Revenue
$271K
FY2023▼ -3%
Expenses
$213K
FY2023▲ +29%
Total assets
$673K
FY2023▲ +9%
Total liabilities
$159
FY2023▼ -7%
Total revenue
$271K
Pt VIII · Ln 12
Total expenses
$213K
Pt IX · Ln 25
Net assets
$673K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$58K
Total assetsPt X · Ln 16$673K
Program-expense ratioPt IX · col B93%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414

Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CUpper Valley Rowing Foundation
EINHdr · item D02-0508228
Principal addressHdr · item CHanover, NH
WebsiteHdr · item Jwww.uppervalleyrowing.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNH
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFRecreation & Sports (N70)
Ruling yearIRS BMFOct 1999

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
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Mission & Programs · Part III

Where the work happens

3 program services account for $199K of program spending, described in the organization's own filed words · FY2023.
01

Uvrf offers spring and fall racing programs to area students in grades 7-12 regardless of ability to pay. The upper valley rowing foundation spring youth program is offered, from mid-march to june, to all students who attend schools without a rowing program.

$76Kprogram expense
02

Uvrf offers virtual "off water" erg workout programs and indoor rowing tank workouts from january to april to all members. In addition, uvrf offers members an equipment usage program and rack rental for an extra fee.

$63Kprogram expense
03

Uvrf offers a variety of adult programs, including a competitive masters program for adult rowers. There are spring, summer and fall programs. In addition to these competitive programs, the upper valley rowing foundation offers recreational adult sweep programs and learn to scull clinics.

$59Kprogram expense

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Statement of Revenue

Part VIII
Contributions & grants$137K · 51%
Program service revenue$131K · 48%
Investment income$3K · 1%
Contributions & grants51%$137K
Program service revenue48%$131K
Investment income1%$3K
Total revenueLn 12$271K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.93 Management & general $0.07
Program services93%$199K
Management & general7%$15K
Total functional expensesLn 25$213K

Balance Sheet

Part X · end of year
CashLn 1$346K
Total assetsLn 16$673K
Total liabilitiesLn 26$159
Total net assetsLn 32$673K
Months of cash on handcomputed19.5

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $346K · Operating expenses/yr $213K
19.5 months
Where the money goes
Program services
Program services $199K · Total expenses $213K
93%
Management & General
Management & general $15K · Total expenses $213K
7%
Fundraising
Fundraising $0 · Total expenses $213K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $138K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $137K · Total revenue $271K
51%
Government reliance
Government grants — · Total revenue $271K
Earned-income share
Program service revenue $131K · Total revenue $271K
48%
Investment reliance
Investment income $3K · Total revenue $271K
+1%
Program self-sufficiency
Program service revenue $131K · Total expenses $213K
62%
Growth & trend
Revenue growth (YoY)
This year $271K · Prior year $280K
-3%
Net-asset trend (YoY)
End of year $673K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $271K · Expenses $213K
+21%
Liabilities-to-Assets
Total liabilities — · Total assets $673K
Net-asset ratio
Net assets $673K · Total assets $673K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $673K
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Martha Beattie · Reported title DIRECTOR · Highest reported compensation $0 · Total expenses $213K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $55K · Total expenses $213K
26%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 93%
Overhead ratio 7%
Fundraising cost ratio 0%
Revenue growth -3%
Accounting fee ratio 6%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$50K
Grants paid · 8 grants · $25K · 2021–2024
Unitemized GrantFY2024$4,920
Unitemized GrantFY2024$1,443
Unitemized GrantFY2023$6,590
Unitemized GrantFY2023$650
Unitemized GrantFY2022$3,163
Unitemized GrantFY2022$2,850
Unitemized GrantFY2021$2,950
Unitemized GrantFY2021$2,345

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$344K revenue · ⤓ 990 PDF
FY2023$271K revenue · viewing · ⤓ 990 PDF
FY2022$280K revenue · ⤓ 990 PDF
FY2021$230K revenue · ⤓ 990 PDF
FY2020$129K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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