AI Transparency Report
Pelican Isle Yacht Club Inc. operates with a unique financial structure, as indicated by its NTEE code N50, which typically denotes a recreational or social club rather than a traditional public charity. This is reflected in its consistent reporting of 0% officer compensation across all available filings, suggesting that its leadership is volunteer-based or compensated through non-officer roles, which is a positive for donor confidence if it were a public charity. However, the organization has consistently reported expenses exceeding revenue in most recent periods, for example, in 202306, revenue was $768,127 while expenses were $7,342,815, and in 202206, revenue was $4,091,937 against expenses of $5,039,610. This consistent deficit spending, while potentially covered by membership dues or capital contributions not fully captured as 'revenue' in the same way a public charity's donations would be, warrants closer examination to understand its long-term financial sustainability. The significant increase in assets from $29,043,480 in 202206 to $40,184,028 in 202306, alongside a substantial rise in liabilities from $6,230,295 to $19,021,204 in the same period, suggests significant capital projects or financing activities. Given its nature as a yacht club, these financial movements are likely related to facility improvements or expansions for its members.