Narragansett Bay Wheelmen Inc
Volunteer-led Narragansett Bay Wheelmen Inc. maintains strong assets despite fluctuating revenues and occasional operational deficits.
EIN: 202592159 · Providence, RI · NTEE: N50 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $17K |
| Program Spending | 90% |
| Net Assets | $63K |
| Transparency Score | 85/100 |
Is Narragansett Bay Wheelmen Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Narragansett Bay Wheelmen Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Narragansett Bay Wheelmen Inc
Narragansett Bay Wheelmen Inc (EIN: 202592159) is a nonprofit organization based in Providence, RI, classified under NTEE code N50. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Narragansett Bay Wheelmen Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Narragansett Bay Wheelmen Inc is a micro nonprofit that has been operating for 18 years, with 12 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of -6.7%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $15K |
| Total Expenses | $17K |
| Surplus / Deficit | $-2,228 |
| Total Assets | $63K |
| Net Assets | $63K |
| Operating Margin | -15.3% |
| Months of Reserves | 45.0 months |
Financial Health Grade: B
In 2022, Narragansett Bay Wheelmen Inc reported a deficit of $2K with expenses exceeding revenue, holds 45.0 months of operating reserves (strong position).
Financial Trends
Over 12 years of filings (2011–2022), Narragansett Bay Wheelmen Inc's revenue has declined at a compound annual growth rate (CAGR) of -6.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | +345.7% | +23.2% | -3.4% |
| 2021 | -79.6% | +46.1% | -13.7% |
| 2020 | -28.8% | +154.5% | +20.2% |
| 2018 | -139.9% | -94.1% | -23.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 3000 |
| IRS Ruling Date | 2008 |
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 Narragansett Bay Wheelmen Inc 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: 5%
- programs: 90%
- fundraising: 5%
According to IRS 990 filings, Narragansett Bay Wheelmen Inc allocates its expenses as follows: admin: 5%, programs: 90%, fundraising: 5%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization is entirely volunteer-run at the leadership level, which is highly efficient for an organization 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.
Red Flags
The following concerns were identified during AI analysis of Narragansett Bay Wheelmen Inc's IRS 990 filings:
- Inconsistent annual revenue, with significant fluctuations and occasional negative revenue years (e.g., -$12,089 in 2018).
Strengths
The following positive indicators were identified for Narragansett Bay Wheelmen Inc:
- Zero executive compensation across all reported periods, indicating a highly volunteer-driven model.
- Strong asset base with no reported liabilities, demonstrating financial stability.
- Consistent IRS 990 filing history over 12 periods, indicating good transparency.
- Efficient operations due to minimal overhead and volunteer leadership.
Frequently Asked Questions about Narragansett Bay Wheelmen Inc
Is Narragansett Bay Wheelmen Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Narragansett Bay Wheelmen Inc (EIN: 202592159) some concerns. Mission Score: 85/100. 1 red flag identified, 4 strengths noted.
How does Narragansett Bay Wheelmen Inc spend its money?
Narragansett Bay Wheelmen Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Narragansett Bay Wheelmen Inc tax-deductible?
Narragansett Bay Wheelmen Inc is registered as a tax-exempt nonprofit (EIN: 202592159). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Narragansett Bay Wheelmen Inc's spending goes to programs?
Narragansett Bay Wheelmen Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Narragansett Bay Wheelmen Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Narragansett Bay Wheelmen Inc is above average for NTEE category N50 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Narragansett Bay Wheelmen Inc located?
Narragansett Bay Wheelmen Inc is headquartered in Providence, Rhode Island and files with the IRS under EIN 202592159. It is classified under NTEE code N50.
How many years of IRS 990 filings does Narragansett Bay Wheelmen Inc have?
Narragansett Bay Wheelmen Inc has 12 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
Is Narragansett Bay Wheelmen Inc. a good charity?
Based on the provided data, Narragansett Bay Wheelmen Inc. appears to be a well-managed, volunteer-driven organization with strong financial health (zero liabilities, healthy assets) and excellent transparency (consistent 990 filings, no officer compensation). Its mission focus is likely high given the lack of overhead.
How does Narragansett Bay Wheelmen Inc. manage operational deficits?
The organization has experienced operational deficits in several years (e.g., 2022: $14,561 revenue vs. $16,789 expenses; 2021: $3,267 revenue vs. $13,630 expenses; 2018: $-12,089 revenue vs. $1,503 expenses). It manages these by drawing from its accumulated assets, which have remained substantial (e.g., $62,938 in 2022, $65,166 in 2021) and without incurring liabilities.
What is the trend in Narragansett Bay Wheelmen Inc.'s assets?
The organization's assets have generally shown growth and stability over the past decade, increasing from $59,993 in 2013 to $62,938 in 2022, with a peak of $75,529 in 2020. This indicates effective asset management despite revenue fluctuations.
Filing History
IRS 990 filing history for Narragansett Bay Wheelmen Inc showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2011–2022), Narragansett Bay Wheelmen Inc's revenue has declined by 53.4%, moving from $31K to $15K. Total assets increased by 13.2% over the same period, from $56K to $63K. Total functional expenses fell by 72%, from $60K to $17K. In its most recent filing year (2022), Narragansett Bay Wheelmen Inc reported a deficit of $2K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $15K | $17K | $63K | $0 | — | — |
| 2021 | $3K | $14K | $65K | $0 | — | — |
| 2020 | $16K | $9K | $76K | $0 | — | View 990 |
| 2019 | $22K | $4K | $63K | $0 | — | View 990 |
| 2018 | $-12,089 | $2K | $44K | $0 | — | View 990 |
| 2017 | $30K | $25K | $58K | $0 | — | — |
| 2016 | $27K | $24K | $53K | $0 | — | View 990 |
| 2015 | $35K | $31K | $50K | $0 | — | View 990 |
| 2014 | $25K | $32K | $53K | $0 | — | View 990 |
| 2013 | $34K | $34K | $60K | $0 | — | View 990 |
| 2012 | $37K | $33K | $60K | $0 | — | View 990 |
| 2011 | $31K | $60K | $56K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $15K, expenses of $17K, and assets of $63K (revenue +345.7% year-over-year).
- 2021: Revenue of $3K, expenses of $14K, and assets of $65K (revenue -79.6% year-over-year).
- 2020: Revenue of $16K, expenses of $9K, and assets of $76K (revenue -28.8% year-over-year).
- 2019: Revenue of $22K, expenses of $4K, and assets of $63K.
- 2018: Revenue of $-12,089, expenses of $2K, and assets of $44K (revenue -139.9% year-over-year).
- 2017: Revenue of $30K, expenses of $25K, and assets of $58K (revenue +11.9% year-over-year).
- 2016: Revenue of $27K, expenses of $24K, and assets of $53K (revenue -21.8% year-over-year).
- 2015: Revenue of $35K, expenses of $31K, and assets of $50K (revenue +37.8% year-over-year).
- 2014: Revenue of $25K, expenses of $32K, and assets of $53K (revenue -26.3% year-over-year).
- 2013: Revenue of $34K, expenses of $34K, and assets of $60K (revenue -8.7% year-over-year).
- 2012: Revenue of $37K, expenses of $33K, and assets of $60K (revenue +19.5% year-over-year).
- 2011: Revenue of $31K, expenses of $60K, and assets of $56K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Narragansett Bay Wheelmen Inc:
Data Sources and Methodology
This transparency report for Narragansett Bay Wheelmen Inc 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.