Is Shark River Beach & Yacht Club Legit?

Shark River Beach & Yacht Club demonstrates consistent financial stability and growth in assets over the past decade. In the latest filing (202312), the organization reported revenues of $682,553 against expenses of $432,005, indicating a healthy surplus. Its assets have steadily increased from $2,012,354 in 2014 to $4,292,876 in 2023, suggesting effective asset management and financial planning. The organization consistently reports 0% officer compensation, which is a strong indicator of volunteer leadership and efficient use of funds, contributing positively to its transparency and public trust. The organization's spending efficiency appears strong, with expenses consistently lower than revenues, leading to asset accumulation. For instance, in 2023, expenses were approximately 63% of revenue. The absence of reported officer compensation further enhances its spending efficiency. However, without a detailed breakdown of program, administrative, and fundraising expenses, a precise assessment of spending allocation is challenging. The consistent growth in assets and positive net income trends suggest a well-managed financial operation. Transparency is generally good, with consistent annual filings available. The clear reporting of 0% officer compensation is a significant positive. However, the lack of an NTEE code makes it difficult to benchmark against similar organizations, and without a detailed functional expense breakdown, it's challenging to fully understand how funds are allocated across programs, administration, and fundraising. Despite this, the overall financial health appears robust, with a strong balance sheet and consistent operational surpluses.