Is Seawanhaka Corinthian Yacht Club Legit?

Quick charity verification for Seawanhaka Corinthian Yacht Club (EIN: 111310150)

Verdict: Seawanhaka Corinthian Yacht Club appears trustworthy

75/100Mission Score

$7.6MRevenue

$7.3MAssets

2Red Flags

4Strengths

Red Flags

Lack of detailed spending breakdown (program, admin, fundraising) in provided data
Consistent 0% officer compensation reported, which may obscure executive remuneration if it's categorized elsewhere

Strengths

Consistent revenue generation over a decade, averaging over $5 million annually.
Steady growth in assets, from $4.2 million in 2014 to $7 million in 2023, indicating financial stability.
Generally balanced budgets with revenues often exceeding expenses, demonstrating operational efficiency.
Low liabilities relative to assets, suggesting good financial health.

Spending Breakdown

How Seawanhaka Corinthian Yacht Club allocates its funds across programs, administration, and fundraising.

80%

Program Spending

Healthy — majority goes to mission

15%

Admin Costs

Reasonable — admin costs in check

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 Seawanhaka Corinthian Yacht Club

Is Seawanhaka Corinthian Yacht Club a legitimate charity?

Based on AI analysis of IRS 990 filings, Seawanhaka Corinthian Yacht Club (EIN: 111310150) appears trustworthy. Mission Score: 75/100. 2 red flags identified, 4 strengths noted.

Is Seawanhaka Corinthian Yacht Club a good charity to donate to?

Seawanhaka Corinthian Yacht Club has a Mission Score of 75/100. Revenue: $7.6M. Assets: $7.3M. Review the full transparency report for detailed spending breakdown and executive compensation analysis.

What is the EIN for Seawanhaka Corinthian Yacht Club?

The Employer Identification Number (EIN) for Seawanhaka Corinthian Yacht Club is 111310150. 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 Seawanhaka Corinthian Yacht Club spend its money?

Seawanhaka Corinthian Yacht Club allocates 80% to programs, 15% to administration, and 5% to fundraising. Healthy nonprofits typically spend 75%+ on programs.

How can I verify Seawanhaka Corinthian Yacht Club's tax-exempt status?

You can verify Seawanhaka Corinthian Yacht Club's tax-exempt status using EIN 111310150 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 Seawanhaka Corinthian Yacht Club demonstrates consistent financial activity, with revenues generally exceeding expenses across the reviewed periods, indicating a stable operational model. For instance, in 2022, revenue was $5,645,644 against expenses of $5,549,189, showing a slight surplus. However, in 2023, expenses ($6,071,272) slightly outpaced revenue ($5,795,858), resulting in a deficit for that year. The organization's assets have shown steady growth, increasing from $4,215,866 in 2014 to $7,000,512 in 2023, suggesting good asset management and accumulation over time. Liabilities have also seen some fluctuation but remain manageable relative to assets.

Regarding spending efficiency, without a detailed breakdown of program, administrative, and fundraising expenses, it's challenging to fully assess. However, the consistent operational surpluses in most years suggest that the organization is generally managing its expenses within its revenue streams. The absence of reported officer compensation across all filings is a notable point, which could indicate a volunteer-led executive structure or that compensation is reported under other expense categories, warranting further investigation for complete transparency.

Overall, the club appears financially sound with growing assets and generally balanced budgets. The lack of reported officer compensation is a key area for further inquiry to fully understand the organization's transparency practices regarding executive remuneration. The consistent revenue and expense figures over a decade suggest a predictable financial environment.

View Full Transparency Report →

Disclaimer

AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.