Is Sailing Yacht Research Foundation Inc…

Quick charity verification for Sailing Yacht Research Foundation Inc (EIN: 202021318)

Spending Breakdown

How Sailing Yacht Research Foundation Inc allocates its funds across programs, administration, and fundraising.

70%

Program Spending

Below average — room for improvement

20%

Admin Costs

Reasonable — admin costs in check

10%

Fundraising

Within typical range

How to read this: Well-run charities typically spend 75% or more on programs, keep admin under 25%, and fundraising under 15%. A high program ratio means more of every dollar goes directly to the mission.

How to Interpret This Report

What Red Flags Mean

Red flags are potential warning signs identified by AI analysis of IRS 990 filings. They may indicate issues like declining revenue, high executive pay relative to program spending, lack of transparency, or governance concerns. A single red flag does not necessarily mean an organization is untrustworthy, but multiple flags warrant further investigation before donating.

What Mission Score Measures

The Mission Score (0-100) evaluates how effectively a nonprofit fulfills its stated purpose. It combines multiple factors: program spending efficiency (how much goes to programs vs. overhead), financial health and sustainability, governance quality, transparency in reporting, and consistency of operations over time. A score of 70+ indicates strong alignment with the organization’s mission.

Using This Data for Donation Decisions

Use this report as one input in your decision. Look at the overall Mission Score for a quick assessment, review red flags and strengths for specific concerns, check the spending breakdown to see where money goes, and compare executive compensation to the organization’s size. Consider viewing the full transparency report for deeper analysis, and always verify tax-exempt status with the IRS before making large donations.

Frequently Asked Questions about Sailing Yacht Research Foundation Inc

Is Sailing Yacht Research Foundation Inc a legitimate charity?

Based on AI analysis of IRS 990 filings, Sailing Yacht Research Foundation Inc (EIN: 202021318) shows mixed signals. Mission Score: 45/100. 4 red flags identified, 3 strengths noted.

Is Sailing Yacht Research Foundation Inc a good charity to donate to?

Sailing Yacht Research Foundation Inc has a Mission Score of 45/100. Revenue: $488K. Assets: $70K. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Sailing Yacht Research Foundation Inc?

The Employer Identification Number (EIN) for Sailing Yacht Research Foundation Inc is 202021318. This is the unique tax ID assigned by the IRS.

What is a Mission Score?

The Mission Score is a 0-100 rating that measures how effectively a nonprofit fulfills its stated mission. It factors in program spending efficiency, financial transparency, governance practices, and outcome reporting. Scores above 70 indicate strong mission alignment, 40-69 suggest mixed performance, and below 40 signals potential concerns.

How does Sailing Yacht Research Foundation Inc spend its money?

Sailing Yacht Research Foundation Inc allocates 70% to programs, 20% to administration, and 10% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Sailing Yacht Research Foundation Inc's tax-exempt status?

You can verify Sailing Yacht Research Foundation Inc's tax-exempt status using EIN 202021318 on the IRS Tax Exempt Organization Search (TEOS) at apps.irs.gov/app/eos. You can also request copies of their Form 990 directly from the organization, as they are required by law to provide them upon request.

AI Transparency Report

The Sailing Yacht Research Foundation Inc. exhibits a concerning financial trend with consistent operating deficits over the past several years. For instance, in 2020, the organization reported revenue of $30,275 against expenses of $166,124, indicating a significant shortfall. This pattern of spending substantially more than it earns is evident in most recent filings, leading to a notable decline in assets from a peak of over $1 million in 2015 to $70,482 currently. While the latest reported revenue is $487,541, this figure is an outlier compared to recent years' revenues and needs to be contextualized with corresponding expenses to assess its impact on the overall financial health. The consistent lack of reported officer compensation suggests a volunteer-driven leadership, which can be a positive for efficiency, but the overall financial sustainability is questionable given the persistent deficits.

The organization's financial health appears precarious due to its long-standing negative net income. The substantial decrease in assets over time, from $1,003,098 in 2015 to $70,482 currently, highlights a significant depletion of reserves. Without a detailed breakdown of expenses for the latest period, it's challenging to fully assess spending efficiency. However, the historical data suggests that the organization has struggled to align its expenditures with its revenue generation, raising concerns about its long-term viability and ability to sustain its programs. The absence of liabilities across all reported periods is a positive indicator, suggesting no accumulating debt, but this does not offset the asset depletion.

Regarding transparency, the availability of 10 years of IRS 990 filings is a strong point, providing a comprehensive historical view of its finances. The consistent reporting of zero officer compensation is also a transparent disclosure. However, the financial trends themselves, particularly the consistent operating losses and asset decline, raise questions about the organization's financial management and strategic planning. A more detailed explanation of how these deficits are being covered and the strategy for achieving financial stability would enhance transparency.

Is Sailing Yacht Research Foundation Inc Legit?

Verdict: Sailing Yacht Research Foundation Inc shows mixed signals

Red Flags

Strengths