Morehead City Yacht Basin Association

Morehead City Yacht Basin Association maintains consistent revenue and asset growth with no reported officer compensation.

EIN: 201335937 · Morehead City, NC · NTEE: N50 · Updated: 2026-03-28

$258KRevenue

$562KAssets

85/100Mission Score (Excellent)

N50

About Morehead City Yacht Basin Association

Morehead City Yacht Basin Association (EIN: 201335937) is a nonprofit organization based in Morehead City, NC, classified under NTEE code N50. The organization reported total revenue of $258K and total assets of $562K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Morehead City Yacht Basin Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.

AI Transparency Report

The Morehead City Yacht Basin Association demonstrates consistent financial operations, with revenues generally exceeding expenses over the past several years. For example, in the 202406 period, the organization reported revenues of $241,922 against expenses of $217,317, indicating a surplus. Assets have shown steady growth, increasing from $378,548 in 201606 to $508,273 in 202406, suggesting sound financial management and accumulation of resources. Liabilities have remained relatively stable, hovering around $216,619 for several years before a slight increase to $233,949 in 202406, which is manageable given their asset base.

The organization's spending efficiency appears strong, as there is no reported officer compensation, indicating that leadership is likely volunteer-based or compensated through other means not categorized as officer compensation on the 990. This contributes to lower administrative overhead. While specific program spending percentages are not detailed in the provided data, the consistent surplus and lack of officer compensation suggest that a significant portion of funds could be directed towards its mission. The consistent filing of 990s over nine periods indicates a commitment to transparency.

Overall, the Morehead City Yacht Basin Association appears to be in good financial health, with a stable revenue stream, growing assets, and efficient operations, particularly given the absence of reported officer compensation. Their consistent financial reporting further enhances their transparency profile.

Mission Effectiveness Score

NonprofitSpending's AI analysis rates Morehead City Yacht Basin Association 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: 10%
programs: 90%
fundraising: 0%

According to IRS 990 filings, Morehead City Yacht Basin 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.

Executive Compensation Analysis

Executive compensation is reported as 0% across all available filing periods, indicating that the organization's leadership is either entirely volunteer-based or compensated through mechanisms not classified as officer compensation on the 990, which is highly efficient for an organization of its size with revenues around $250,000.

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 Morehead City Yacht Basin Association:

Consistent revenue generation, with latest revenue at $258,163.
Steady asset growth, reaching $562,220 in latest period.
No reported officer compensation, indicating high operational efficiency.
Revenues consistently exceed expenses, leading to financial surpluses.
Consistent IRS 990 filing history, demonstrating transparency.

Frequently Asked Questions about Morehead City Yacht Basin Association

Is Morehead City Yacht Basin Association a good charity?

Based on the provided financial data, the organization appears to be well-managed, with consistent revenue, growing assets, and no reported officer compensation, suggesting a high degree of financial efficiency and dedication to its mission.

How has the organization's financial health changed over time?

The organization has shown consistent financial growth, with assets increasing from $378,548 in 201606 to $508,273 in 202406, and revenues generally exceeding expenses, indicating a stable and improving financial position.

What is the organization's approach to executive compensation?

The organization reports 0% officer compensation across all filings, which is a strong indicator of volunteer leadership or highly efficient compensation practices, allowing more funds to be directed towards its mission.

Filing History

IRS 990 filing history for Morehead City Yacht Basin Association showing financial trends over 9 years of public records:

Over 9 years of IRS 990 filings (2016–2024), Morehead City Yacht Basin Association's revenue has grown by 167%, moving from $91K to $242K. Total assets increased by 34.3% over the same period, from $379K to $508K. Total functional expenses rose by 115%, from $101K to $217K. In its most recent filing year (2024), Morehead City Yacht Basin Association reported a surplus of $25K, with revenue exceeding expenses. The organization holds $234K in liabilities against $508K in assets (debt-to-asset ratio: 46.0%), resulting in net assets of $274K.

Year	Revenue	Expenses	Assets	Liabilities	Officer Comp.	PDF
2024	$242K	$217K	$508K	$234K	—	—
2023	$218K	$213K	$484K	$234K	—	View 990
2022	$217K	$199K	$461K	$217K	—	View 990
2021	$218K	$200K	$443K	$217K	—	View 990
2020	$220K	$205K	$426K	$217K	—	View 990
2019	$218K	$196K	$410K	$217K	—	View 990
2018	$217K	$204K	$388K	$217K	—	View 990
2017	$217K	$221K	$375K	$217K	—	View 990
2016	$91K	$101K	$379K	$217K	—	View 990

Year-by-Year Financial Summary

2024: Revenue of $242K, expenses of $217K, and assets of $508K (revenue +11.0% year-over-year).
2023: Revenue of $218K, expenses of $213K, and assets of $484K (revenue +0.4% year-over-year).
2022: Revenue of $217K, expenses of $199K, and assets of $461K (revenue -0.4% year-over-year).
2021: Revenue of $218K, expenses of $200K, and assets of $443K (revenue -1.1% year-over-year).
2020: Revenue of $220K, expenses of $205K, and assets of $426K (revenue +0.9% year-over-year).
2019: Revenue of $218K, expenses of $196K, and assets of $410K (revenue +0.5% year-over-year).
2018: Revenue of $217K, expenses of $204K, and assets of $388K (revenue +-0.0% year-over-year).
2017: Revenue of $217K, expenses of $221K, and assets of $375K (revenue +139.8% year-over-year).
2016: Revenue of $91K, expenses of $101K, and assets of $379K.

Data Sources and Methodology

This transparency report for Morehead City Yacht Basin 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.