Manhasset Bay Yacht Club
Manhasset Bay Yacht Club frequently operates at a deficit, relying on substantial assets to cover expenses.
EIN: 111041380 · Prt Washingtn, NY · Updated: 2026-03-28
Is Manhasset Bay Yacht Club Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Manhasset Bay Yacht Club directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Manhasset Bay Yacht Club
Manhasset Bay Yacht Club (EIN: 111041380) is a nonprofit organization based in Prt Washingtn, NY. The organization reported total revenue of $6.4M and total assets of $6.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Manhasset Bay Yacht Club's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Manhasset Bay Yacht Club is a mid-size nonprofit that has been operating for 84 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 2.8%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.9M |
| Total Expenses | $6.7M |
| Surplus / Deficit | $-737,209 |
| Total Assets | $6.9M |
| Total Liabilities | $2.9M |
| Net Assets | $4.1M |
| Operating Margin | -12.4% |
| Debt-to-Asset Ratio | 41.2% |
| Months of Reserves | 12.5 months |
Financial Health Grade: B
In 2023, Manhasset Bay Yacht Club reported a deficit of $737K with expenses exceeding revenue, holds 12.5 months of operating reserves (strong position), has a debt-to-asset ratio of 41.2% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Manhasset Bay Yacht Club's revenue has grown at a compound annual growth rate (CAGR) of 2.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -0.1% | +9.6% | -12.0% |
| 2022 | -4.3% | +9.6% | -1.8% |
| 2021 | +34.0% | +26.5% | +11.6% |
| 2020 | +0.5% | -13.4% | +6.8% |
| 2019 | +8.0% | +8.9% | -1.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1942 |
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 Manhasset Bay Yacht Club with a Mission Score of 65 out of 100 (Good). 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, Manhasset Bay 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 deficit of $737K, with expenses exceeding revenue.
- Debt-to-asset ratio: 41.2%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation across all available filings, suggesting that its leadership may be entirely volunteer-based or compensated through other means not categorized as officer compensation, which is unusual for an organization of its size with over $6 million in annual revenue.
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 Manhasset Bay Yacht Club's IRS 990 filings:
- Consistent operational deficits, with expenses exceeding revenue in multiple recent years (e.g., 2023, 2022, 2019, 2018).
- Declining asset base in recent years, from a high of $8,040,385 in 2021 to $6,948,574 in 2023, potentially due to covering deficits.
Strengths
The following positive indicators were identified for Manhasset Bay Yacht Club:
- Strong asset base relative to liabilities, indicating financial stability despite operational deficits (e.g., $6,948,574 assets vs. $2,861,005 liabilities in 2023).
- Consistent IRS 990 filing history (14 filings), demonstrating transparency and compliance.
- No reported officer compensation, suggesting a potentially volunteer-driven leadership structure.
Frequently Asked Questions about Manhasset Bay Yacht Club
Is Manhasset Bay Yacht Club a legitimate charity?
Based on AI analysis of IRS 990 filings, Manhasset Bay Yacht Club (EIN: 111041380) some concerns. Mission Score: 65/100. 2 red flags identified, 3 strengths noted.
How does Manhasset Bay Yacht Club spend its money?
Manhasset Bay Yacht Club directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Manhasset Bay Yacht Club tax-deductible?
Manhasset Bay Yacht Club is registered as a tax-exempt nonprofit (EIN: 111041380). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Manhasset Bay Yacht Club cover its recurring operational deficits?
The organization appears to cover its operational deficits, such as the $737,209 deficit in 2023 ($6,685,634 expenses vs. $5,948,425 revenue), by drawing from its substantial asset base, which was $6,948,574 in 2023.
What is the nature of the organization's expenses given its 501(c)(7) status?
As a 501(c)(7) social club, its expenses are primarily related to the provision of pleasure, recreation, and other nonprofitable social purposes for its members, such as club operations, facilities maintenance, and member services.
Why is officer compensation consistently reported as 0%?
The consistent reporting of 0% officer compensation suggests that the organization's officers may serve in a volunteer capacity, or any compensation they receive is not classified as 'officer compensation' on the IRS Form 990, which could be due to specific organizational structures or compensation policies.
Filing History
IRS 990 filing history for Manhasset Bay Yacht Club showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Manhasset Bay Yacht Club's revenue has grown by 44%, moving from $4.1M to $5.9M. Total assets increased by 7.6% over the same period, from $6.5M to $6.9M. Total functional expenses rose by 74.6%, from $3.8M to $6.7M. In its most recent filing year (2023), Manhasset Bay Yacht Club reported a deficit of $737K, with expenses exceeding revenue. The organization holds $2.9M in liabilities against $6.9M in assets (debt-to-asset ratio: 41.2%), resulting in net assets of $4.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.9M | $6.7M | $6.9M | $2.9M | — | — |
| 2022 | $6.0M | $6.1M | $7.9M | $3.1M | — | — |
| 2021 | $6.2M | $5.6M | $8.0M | $3.1M | — | View 990 |
| 2020 | $4.6M | $4.4M | $7.2M | $2.9M | — | View 990 |
| 2019 | $4.6M | $5.1M | $6.7M | $2.7M | — | View 990 |
| 2018 | $4.3M | $4.7M | $6.8M | $2.3M | — | View 990 |
| 2017 | $4.5M | $4.4M | $7.1M | $2.2M | — | View 990 |
| 2016 | $4.3M | $4.3M | $7.2M | $2.3M | — | View 990 |
| 2015 | $4.5M | $4.4M | $7.5M | $2.6M | — | View 990 |
| 2014 | $4.1M | $4.1M | $7.0M | $2.3M | — | View 990 |
| 2013 | $4.2M | $4.1M | $7.1M | $2.4M | — | View 990 |
| 2012 | $4.3M | $3.9M | $7.0M | $2.3M | — | View 990 |
| 2011 | $4.3M | $3.9M | $6.6M | $2.3M | — | View 990 |
| 2010 | $4.1M | $3.8M | $6.5M | $2.5M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.9M, expenses of $6.7M, and assets of $6.9M (revenue -0.1% year-over-year).
- 2022: Revenue of $6.0M, expenses of $6.1M, and assets of $7.9M (revenue -4.3% year-over-year).
- 2021: Revenue of $6.2M, expenses of $5.6M, and assets of $8.0M (revenue +34.0% year-over-year).
- 2020: Revenue of $4.6M, expenses of $4.4M, and assets of $7.2M (revenue +0.5% year-over-year).
- 2019: Revenue of $4.6M, expenses of $5.1M, and assets of $6.7M (revenue +8.0% year-over-year).
- 2018: Revenue of $4.3M, expenses of $4.7M, and assets of $6.8M (revenue -4.9% year-over-year).
- 2017: Revenue of $4.5M, expenses of $4.4M, and assets of $7.1M (revenue +5.4% year-over-year).
- 2016: Revenue of $4.3M, expenses of $4.3M, and assets of $7.2M (revenue -5.8% year-over-year).
- 2015: Revenue of $4.5M, expenses of $4.4M, and assets of $7.5M (revenue +10.7% year-over-year).
- 2014: Revenue of $4.1M, expenses of $4.1M, and assets of $7.0M (revenue -2.8% year-over-year).
- 2013: Revenue of $4.2M, expenses of $4.1M, and assets of $7.1M (revenue -0.9% year-over-year).
- 2012: Revenue of $4.3M, expenses of $3.9M, and assets of $7.0M (revenue -0.2% year-over-year).
- 2011: Revenue of $4.3M, expenses of $3.9M, and assets of $6.6M (revenue +3.2% year-over-year).
- 2010: Revenue of $4.1M, expenses of $3.8M, and assets of $6.5M.
Data Sources and Methodology
This transparency report for Manhasset Bay 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.