Boothbay Harbor Yacht Club
Boothbay Harbor Yacht Club maintains consistent financial health with growing assets and no reported officer compensation.
EIN: 10032215 · W Boothby Hbr, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $1.7M |
| Total Expenses | $1.2M |
| Program Spending | 85% |
| Net Assets | $2.3M |
| Transparency Score | 80/100 |
Is Boothbay Harbor Yacht Club Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Boothbay Harbor Yacht Club directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Boothbay Harbor Yacht Club
Boothbay Harbor Yacht Club (EIN: 10032215) is a nonprofit organization based in W Boothby Hbr, ME. The organization reported total revenue of $1.7M and total assets of $2.8M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Boothbay Harbor Yacht Club's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Boothbay Harbor Yacht Club is a mid-size nonprofit that has been operating for 58 years, with 14 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 5.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.2M |
| Surplus / Deficit | +$19K |
| Total Assets | $2.8M |
| Total Liabilities | $446K |
| Net Assets | $2.3M |
| Operating Margin | 1.6% |
| Debt-to-Asset Ratio | 16.2% |
| Months of Reserves | 27.8 months |
Financial Health Grade: A
In 2023, Boothbay Harbor Yacht Club reported a surplus of $19K with revenue exceeding expenses, holds 27.8 months of operating reserves (strong position), has a debt-to-asset ratio of 16.2% (very low leverage).
Financial Trends
Over 14 years of filings (2011–2023), Boothbay Harbor Yacht Club's revenue has grown at a compound annual growth rate (CAGR) of 5.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +8.0% | +9.7% | +0.4% |
| 2022 | +7.7% | +11.6% | +0.6% |
| 2021 | +36.9% | +26.1% | +3.0% |
| 2020 | +53859.1% | +2077.1% | -17.0% |
| 2019 | -99.9% | -96.1% | +19.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1968 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Boothbay Harbor Yacht Club with a Mission Score of 80 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Boothbay Harbor Yacht Club allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $19K, with revenue exceeding expenses.
- Debt-to-asset ratio: 16.2%.
Executive Compensation Analysis
No officer compensation has been reported across all available filings, suggesting that executive leadership may be volunteer-based or compensated through non-officer categories, which is a positive indicator for resource allocation.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Boothbay Harbor Yacht Club's IRS 990 filings:
- NTEE Code is unknown, limiting understanding of primary mission category.
- Detailed breakdown of program, administrative, and fundraising expenses not explicitly provided in summary data, hindering precise efficiency analysis.
Strengths
The following positive indicators were identified for Boothbay Harbor Yacht Club:
- Consistent positive net income, with revenues generally exceeding expenses (e.g., $1,207,055 revenue vs. $1,187,887 expenses in 2023).
- Steady growth in assets, from $1,821,728 in 2016 to $2,753,384 in 2023, indicating financial strength.
- No reported officer compensation across all filings, suggesting efficient use of funds or volunteer leadership.
- Manageable liabilities relative to assets, indicating a strong balance sheet.
- Consistent filing of IRS Form 990s over 14 periods, demonstrating transparency.
Frequently Asked Questions about Boothbay Harbor Yacht Club
Is Boothbay Harbor Yacht Club a legitimate charity?
Based on AI analysis of IRS 990 filings, Boothbay Harbor Yacht Club (EIN: 10032215) some concerns. Mission Score: 80/100. 2 red flags identified, 5 strengths noted.
How does Boothbay Harbor Yacht Club spend its money?
Boothbay Harbor Yacht Club directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Boothbay Harbor Yacht Club tax-deductible?
Boothbay Harbor Yacht Club is registered as a tax-exempt nonprofit (EIN: 10032215). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Boothbay Harbor Yacht Club's spending goes to programs?
Boothbay Harbor Yacht Club directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Boothbay Harbor Yacht Club located?
Boothbay Harbor Yacht Club is headquartered in W Boothby Hbr, Maine and files with the IRS under EIN 10032215.
How many years of IRS 990 filings does Boothbay Harbor Yacht Club have?
Boothbay Harbor Yacht Club has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.7M in total revenue.
Is Boothbay Harbor Yacht Club a good charity?
Based on the available financial data, the Boothbay Harbor Yacht Club appears to be a financially sound organization with consistent revenue generation, controlled expenses, and a growing asset base. The absence of reported officer compensation is a positive sign for resource allocation. However, without detailed program spending breakdowns, a full assessment of its charitable impact is limited.
How has the organization's financial health changed over time?
The organization has shown consistent financial growth and stability. Revenues have generally increased from $883,303 in 2016 to $1,207,055 in 2023, and assets have grown significantly from $1,821,728 in 2016 to $2,753,384 in 2023, indicating strong financial management and accumulation of resources.
What is the trend in the organization's liabilities?
Liabilities have remained relatively stable and manageable over the years, fluctuating but not showing a significant upward trend that would indicate financial distress. For example, liabilities were $87,778 in 2016 and $446,157 in 2023, which is a controlled increase relative to asset growth.
Filing History
IRS 990 filing history for Boothbay Harbor Yacht Club showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2011–2023), Boothbay Harbor Yacht Club's revenue has grown by 85.7%, moving from $650K to $1.2M. Total assets increased by 40.2% over the same period, from $2.0M to $2.8M. Total functional expenses rose by 85.9%, from $639K to $1.2M. In its most recent filing year (2023), Boothbay Harbor Yacht Club reported a surplus of $19K, with revenue exceeding expenses. The organization holds $446K in liabilities against $2.8M in assets (debt-to-asset ratio: 16.2%), resulting in net assets of $2.3M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $1.2M | $2.8M | $446K | — | View 990 |
| 2022 | $1.1M | $1.1M | $2.7M | $452K | — | View 990 |
| 2021 | $1.0M | $970K | $2.7M | $470K | — | View 990 |
| 2020 | $758K | $769K | $2.6M | $456K | — | View 990 |
| 2019 | $1K | $35K | $3.2M | $1.0M | — | View 990 |
| 2019 | $994K | $901K | $2.7M | $462K | — | View 990 |
| 2018 | $1.4M | $981K | $2.6M | $459K | — | — |
| 2017 | $1.0M | $1.0M | $1.8M | $106K | — | — |
| 2016 | $883K | $856K | $1.8M | $88K | — | View 990 |
| 2015 | $929K | $877K | $1.8M | $116K | — | View 990 |
| 2014 | $925K | $876K | $1.9M | $222K | — | View 990 |
| 2013 | $836K | $787K | $1.9M | $279K | — | View 990 |
| 2012 | $739K | $660K | $1.9M | $352K | — | View 990 |
| 2011 | $650K | $639K | $2.0M | $486K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $1.2M, and assets of $2.8M (revenue +8.0% year-over-year).
- 2022: Revenue of $1.1M, expenses of $1.1M, and assets of $2.7M (revenue +7.7% year-over-year).
- 2021: Revenue of $1.0M, expenses of $970K, and assets of $2.7M (revenue +36.9% year-over-year).
- 2020: Revenue of $758K, expenses of $769K, and assets of $2.6M (revenue +53859.1% year-over-year).
- 2019: Revenue of $1K, expenses of $35K, and assets of $3.2M (revenue -99.9% year-over-year).
- 2019: Revenue of $994K, expenses of $901K, and assets of $2.7M (revenue -27.0% year-over-year).
- 2018: Revenue of $1.4M, expenses of $981K, and assets of $2.6M (revenue +32.4% year-over-year).
- 2017: Revenue of $1.0M, expenses of $1.0M, and assets of $1.8M (revenue +16.5% year-over-year).
- 2016: Revenue of $883K, expenses of $856K, and assets of $1.8M (revenue -4.9% year-over-year).
- 2015: Revenue of $929K, expenses of $877K, and assets of $1.8M (revenue +0.4% year-over-year).
- 2014: Revenue of $925K, expenses of $876K, and assets of $1.9M (revenue +10.7% year-over-year).
- 2013: Revenue of $836K, expenses of $787K, and assets of $1.9M (revenue +13.1% year-over-year).
- 2012: Revenue of $739K, expenses of $660K, and assets of $1.9M (revenue +13.7% year-over-year).
- 2011: Revenue of $650K, expenses of $639K, and assets of $2.0M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Boothbay Harbor Yacht Club:
Data Sources and Methodology
This transparency report for Boothbay Harbor Yacht Club is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.