Cypress Landing Marina Association
Cypress Landing Marina Association maintains strong financial health with consistent asset growth and no reported officer compensation.
EIN: 10745603 · Chocowinity, NC · NTEE: N67 · Updated: 2026-03-28
Is Cypress Landing Marina Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Cypress Landing Marina Association directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Cypress Landing Marina Association
Cypress Landing Marina Association (EIN: 10745603) is a nonprofit organization based in Chocowinity, NC, classified under NTEE code N67. The organization reported total revenue of $907K and total assets of $2.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Cypress Landing Marina Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Cypress Landing Marina Association is a small nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $375K |
| Total Expenses | $244K |
| Surplus / Deficit | +$132K |
| Total Assets | $2.3M |
| Total Liabilities | $200K |
| Net Assets | $2.1M |
| Operating Margin | 35.0% |
| Debt-to-Asset Ratio | 8.8% |
| Months of Reserves | 111.9 months |
Financial Health Grade: A
In 2023, Cypress Landing Marina Association reported a surplus of $132K with revenue exceeding expenses, holds 111.9 months of operating reserves (strong position), has a debt-to-asset ratio of 8.8% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Cypress Landing Marina Association's revenue has grown at a compound annual growth rate (CAGR) of 7.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +11.0% | -1.5% | +7.0% |
| 2022 | -20.1% | +6.0% | +5.6% |
| 2021 | +31.8% | +44.6% | -11.8% |
| 2020 | +20.4% | -2.9% | +18.1% |
| 2019 | +12.4% | -7.9% | +21.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2004 |
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 Cypress Landing Marina Association with a Mission Score of 95 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: 90%
- fundraising: 0%
According to IRS 990 filings, Cypress Landing Marina Association allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. With 90% 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 $132K, with revenue exceeding expenses.
- Debt-to-asset ratio: 8.8%.
Executive Compensation Analysis
Cypress Landing Marina Association consistently reports 0% officer compensation across all available filings, indicating that its leadership is likely volunteer-based and that no funds are allocated for executive salaries, which is highly unusual for an organization of its size and asset base.
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 Cypress Landing Marina Association's IRS 990 filings:
- Lack of detailed program spending breakdown in provided data, making it difficult to fully assess program efficiency beyond overall expenses.
Strengths
The following positive indicators were identified for Cypress Landing Marina Association:
- Consistent financial surplus, with revenue significantly exceeding expenses in all reported periods (e.g., $375,361 revenue vs. $243,816 expenses in 202312).
- Strong asset growth over time, from $1,276,793 in 201412 to $2,272,925 in 202312, indicating effective financial management and reinvestment.
- Zero reported officer compensation across all filings, suggesting a volunteer-driven leadership and high operational efficiency.
- Low liabilities relative to assets, demonstrating a healthy balance sheet (e.g., $200,298 liabilities vs. $2,272,925 assets in 202312).
- Stable and growing revenue stream over the past decade, indicating a sustainable financial model.
Frequently Asked Questions about Cypress Landing Marina Association
Is Cypress Landing Marina Association a legitimate charity?
Based on AI analysis of IRS 990 filings, Cypress Landing Marina Association (EIN: 10745603) some concerns. Mission Score: 95/100. 1 red flag identified, 5 strengths noted.
How does Cypress Landing Marina Association spend its money?
Cypress Landing Marina Association directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Cypress Landing Marina Association tax-deductible?
Cypress Landing Marina Association is registered as a tax-exempt nonprofit (EIN: 10745603). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Cypress Landing Marina Association manage to operate without any reported officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization is likely run by volunteers, with leadership dedicating their time without financial remuneration. This is common for smaller, member-driven associations.
What are the primary sources of revenue for the association?
While specific revenue streams are not detailed in the provided data, for a marina association (NTEE N67), typical sources would include membership dues, slip rentals, facility usage fees, and potentially event income.
How does the association's asset growth compare to its revenue growth?
The association has shown consistent growth in both revenue and assets. For example, revenue grew from $195,699 in 201412 to $375,361 in 202312, while assets grew from $1,276,793 to $2,272,925 over the same period, indicating effective reinvestment and accumulation of resources.
Filing History
IRS 990 filing history for Cypress Landing Marina Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Cypress Landing Marina Association's revenue has grown by 126%, moving from $166K to $375K. Total assets increased by 109.6% over the same period, from $1.1M to $2.3M. Total functional expenses rose by 92.8%, from $126K to $244K. In its most recent filing year (2023), Cypress Landing Marina Association reported a surplus of $132K, with revenue exceeding expenses. The organization holds $200K in liabilities against $2.3M in assets (debt-to-asset ratio: 8.8%), resulting in net assets of $2.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $375K | $244K | $2.3M | $200K | — | View 990 |
| 2022 | $338K | $248K | $2.1M | $183K | — | View 990 |
| 2021 | $423K | $234K | $2.0M | $161K | — | — |
| 2020 | $321K | $162K | $2.3M | $153K | — | — |
| 2019 | $267K | $166K | $1.9M | $401K | — | View 990 |
| 2018 | $237K | $181K | $1.6M | $158K | — | View 990 |
| 2017 | $211K | $131K | $1.5M | $109K | — | — |
| 2016 | $204K | $133K | $1.4M | $148K | — | View 990 |
| 2015 | $208K | $133K | $1.3M | $115K | — | View 990 |
| 2014 | $196K | $142K | $1.3M | $129K | — | View 990 |
| 2013 | $190K | $115K | $1.2M | $117K | — | View 990 |
| 2012 | $185K | $132K | $1.1M | $109K | — | View 990 |
| 2011 | $166K | $126K | $1.1M | $119K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $375K, expenses of $244K, and assets of $2.3M (revenue +11.0% year-over-year).
- 2022: Revenue of $338K, expenses of $248K, and assets of $2.1M (revenue -20.1% year-over-year).
- 2021: Revenue of $423K, expenses of $234K, and assets of $2.0M (revenue +31.8% year-over-year).
- 2020: Revenue of $321K, expenses of $162K, and assets of $2.3M (revenue +20.4% year-over-year).
- 2019: Revenue of $267K, expenses of $166K, and assets of $1.9M (revenue +12.4% year-over-year).
- 2018: Revenue of $237K, expenses of $181K, and assets of $1.6M (revenue +12.2% year-over-year).
- 2017: Revenue of $211K, expenses of $131K, and assets of $1.5M (revenue +3.5% year-over-year).
- 2016: Revenue of $204K, expenses of $133K, and assets of $1.4M (revenue -1.9% year-over-year).
- 2015: Revenue of $208K, expenses of $133K, and assets of $1.3M (revenue +6.3% year-over-year).
- 2014: Revenue of $196K, expenses of $142K, and assets of $1.3M (revenue +3.1% year-over-year).
- 2013: Revenue of $190K, expenses of $115K, and assets of $1.2M (revenue +2.6% year-over-year).
- 2012: Revenue of $185K, expenses of $132K, and assets of $1.1M (revenue +11.4% year-over-year).
- 2011: Revenue of $166K, expenses of $126K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Cypress Landing Marina Association:
Data Sources and Methodology
This transparency report for Cypress Landing Marina Association 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.