Is Shrewsbury Sailing & Yacht Club Legit?

Shrewsbury Sailing & Yacht Club demonstrates consistent financial activity, with revenues generally exceeding expenses over the past decade. In the most recent filing (202312), the organization reported revenues of $481,602 against expenses of $421,791, indicating a healthy surplus. Assets have shown steady growth, increasing from $1,316,818 in 2014 to $1,741,224 in 2023, suggesting good financial management and asset accumulation. The organization's liabilities have fluctuated but remained relatively low compared to its assets, though the 2023 liabilities of $1,788,000 are notably high relative to assets, which warrants further investigation into the nature of these liabilities. The club's spending efficiency appears reasonable given its operational nature, though without a detailed breakdown of program vs. administrative expenses, a precise assessment is challenging. The consistent reporting of 0% officer compensation across all filings indicates that the organization is likely volunteer-led or compensates its officers through non-salary means, which can be a positive sign for donor confidence. However, the significant increase in liabilities in 2023 to $1,788,000, almost matching its assets, is a critical point that needs clarification for a full understanding of its financial health and transparency.