Bucks Harbor Yacht Club
Bucks Harbor Yacht Club consistently maintains financial surpluses and growing assets with no reported officer compensation.
EIN: 10242328 · Blue Hill, ME · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $385K |
| Total Expenses | $315K |
| Program Spending | 80% |
| Net Assets | $1.2M |
| Transparency Score | 85/100 |
Is Bucks Harbor Yacht Club Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Bucks Harbor Yacht Club directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Bucks Harbor Yacht Club
Bucks Harbor Yacht Club (EIN: 10242328) is a nonprofit organization based in Blue Hill, ME. The organization reported total revenue of $385K and total assets of $1.7M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Bucks Harbor Yacht Club's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Bucks Harbor Yacht Club is a small nonprofit that has been operating for 71 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 4.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $363K |
| Total Expenses | $315K |
| Surplus / Deficit | +$47K |
| Total Assets | $1.6M |
| Total Liabilities | $408K |
| Net Assets | $1.2M |
| Operating Margin | 13.1% |
| Debt-to-Asset Ratio | 24.8% |
| Months of Reserves | 62.4 months |
Financial Health Grade: A
In 2023, Bucks Harbor Yacht Club reported a surplus of $47K with revenue exceeding expenses, holds 62.4 months of operating reserves (strong position), has a debt-to-asset ratio of 24.8% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Bucks Harbor Yacht Club's revenue has grown at a compound annual growth rate (CAGR) of 4.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +16.8% | +11.5% | +4.2% |
| 2022 | -13.4% | +19.6% | +0.6% |
| 2021 | +56.7% | +8.6% | +8.0% |
| 2020 | -14.7% | -19.4% | +0.0% |
| 2019 | +18.7% | +25.2% | -0.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1955 |
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 Bucks Harbor Yacht Club with a Mission Score of 85 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: 15%
- programs: 80%
- fundraising: 5%
According to IRS 990 filings, Bucks Harbor Yacht Club allocates its expenses as follows: admin: 15%, programs: 80%, fundraising: 5%. With 80% 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 $47K, with revenue exceeding expenses.
- Debt-to-asset ratio: 24.8%.
Executive Compensation Analysis
The organization reports 0% officer compensation across all available filings, indicating that its leadership is entirely volunteer-based, which is highly efficient for a nonprofit of its size.
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.
Strengths
The following positive indicators were identified for Bucks Harbor Yacht Club:
- Consistent financial surpluses, such as $47,364 in 2023 ($362,645 revenue vs. $315,281 expenses).
- Steady growth in assets, from $968,052 in 2014 to $1,640,771 in 2023.
- No reported officer compensation across all filings, indicating volunteer leadership and efficient use of funds.
- Strong financial stability with a healthy asset-to-liability ratio.
Frequently Asked Questions about Bucks Harbor Yacht Club
Is Bucks Harbor Yacht Club a legitimate charity?
Bucks Harbor Yacht Club (EIN: 10242328) is a registered tax-exempt nonprofit based in Maine. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $385K. No red flags identified. 4 strengths noted. Financial health grade: A.
How does Bucks Harbor Yacht Club spend its money?
Bucks Harbor Yacht Club directs 80% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Bucks Harbor Yacht Club tax-deductible?
Bucks Harbor Yacht Club is registered as a tax-exempt nonprofit (EIN: 10242328). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Bucks Harbor Yacht Club's spending goes to programs?
Bucks Harbor Yacht Club directs 80% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Bucks Harbor Yacht Club located?
Bucks Harbor Yacht Club is headquartered in Blue Hill, Maine and files with the IRS under EIN 10242328.
How many years of IRS 990 filings does Bucks Harbor Yacht Club have?
Bucks Harbor Yacht Club has 13 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 $385K in total revenue.
Is Bucks Harbor Yacht Club a good charity?
Based on the available financial data, Bucks Harbor Yacht Club appears to be a well-managed organization. It consistently generates surpluses, has growing assets, and reports no officer compensation, suggesting efficient use of funds and strong volunteer engagement. Without detailed program spending, a full assessment of its charitable impact is limited, but its financial health is strong.
How has Bucks Harbor Yacht Club's financial health changed over time?
Bucks Harbor Yacht Club has shown consistent financial growth and stability. Assets have increased significantly from $968,052 in 2014 to $1,640,771 in 2023. Revenue and expenses have also generally trended upwards, with the organization consistently operating with a surplus, indicating healthy financial management.
What is the organization's approach to executive compensation?
Bucks Harbor Yacht Club reports 0% officer compensation in all available IRS 990 filings. This indicates that its executive leadership serves on a volunteer basis, which is a strong positive for financial efficiency and donor trust.
Filing History
IRS 990 filing history for Bucks Harbor Yacht Club showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Bucks Harbor Yacht Club's revenue has grown by 62.4%, moving from $223K to $363K. Total assets increased by 82.8% over the same period, from $898K to $1.6M. Total functional expenses rose by 97.9%, from $159K to $315K. In its most recent filing year (2023), Bucks Harbor Yacht Club reported a surplus of $47K, with revenue exceeding expenses. The organization holds $408K in liabilities against $1.6M in assets (debt-to-asset ratio: 24.8%), resulting in net assets of $1.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $363K | $315K | $1.6M | $408K | — | — |
| 2022 | $310K | $283K | $1.6M | $389K | — | — |
| 2021 | $359K | $236K | $1.6M | $406K | — | View 990 |
| 2020 | $229K | $218K | $1.4M | $412K | — | — |
| 2019 | $268K | $270K | $1.4M | $423K | — | View 990 |
| 2018 | $226K | $216K | $1.5M | $442K | — | View 990 |
| 2017 | $222K | $214K | $1.0M | $11K | — | View 990 |
| 2016 | $213K | $197K | $1.0M | $21K | — | View 990 |
| 2015 | $237K | $192K | $998K | $16K | — | View 990 |
| 2014 | $225K | $172K | $968K | $31K | — | View 990 |
| 2013 | $223K | $212K | $929K | $45K | — | View 990 |
| 2012 | $221K | $169K | $934K | $60K | — | View 990 |
| 2011 | $223K | $159K | $898K | $76K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $363K, expenses of $315K, and assets of $1.6M (revenue +16.8% year-over-year).
- 2022: Revenue of $310K, expenses of $283K, and assets of $1.6M (revenue -13.4% year-over-year).
- 2021: Revenue of $359K, expenses of $236K, and assets of $1.6M (revenue +56.7% year-over-year).
- 2020: Revenue of $229K, expenses of $218K, and assets of $1.4M (revenue -14.7% year-over-year).
- 2019: Revenue of $268K, expenses of $270K, and assets of $1.4M (revenue +18.7% year-over-year).
- 2018: Revenue of $226K, expenses of $216K, and assets of $1.5M (revenue +1.7% year-over-year).
- 2017: Revenue of $222K, expenses of $214K, and assets of $1.0M (revenue +4.4% year-over-year).
- 2016: Revenue of $213K, expenses of $197K, and assets of $1.0M (revenue -10.2% year-over-year).
- 2015: Revenue of $237K, expenses of $192K, and assets of $998K (revenue +5.2% year-over-year).
- 2014: Revenue of $225K, expenses of $172K, and assets of $968K (revenue +1.2% year-over-year).
- 2013: Revenue of $223K, expenses of $212K, and assets of $929K (revenue +0.9% year-over-year).
- 2012: Revenue of $221K, expenses of $169K, and assets of $934K (revenue -1.2% year-over-year).
- 2011: Revenue of $223K, expenses of $159K, and assets of $898K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Bucks Harbor Yacht Club:
Data Sources and Methodology
This transparency report for Bucks 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.