Narragansett Boat Club
Narragansett Boat Club: Strong Asset Growth, Consistent Program Spending
EIN: 222480410 · Providence, RI · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $793K |
| Total Expenses | $552K |
| Program Spending | 80% |
| Net Assets | $1.4M |
| Transparency Score | 85/100 |
Is Narragansett Boat Club Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Narragansett Boat Club directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Narragansett Boat Club
Narragansett Boat Club (EIN: 222480410) is a nonprofit organization based in Providence, RI. The organization reported total revenue of $793K and total assets of $1.6M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Narragansett Boat Club's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Narragansett Boat Club is a small nonprofit that has been operating for 42 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 6.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $652K |
| Total Expenses | $552K |
| Surplus / Deficit | +$100K |
| Total Assets | $1.6M |
| Total Liabilities | $205K |
| Net Assets | $1.4M |
| Operating Margin | 15.3% |
| Debt-to-Asset Ratio | 13.1% |
| Months of Reserves | 34.2 months |
Financial Health Grade: A
In 2023, Narragansett Boat Club reported a surplus of $100K with revenue exceeding expenses, holds 34.2 months of operating reserves (strong position), has a debt-to-asset ratio of 13.1% (very low leverage).
Financial Trends
Over 13 years of filings (2011–2023), Narragansett Boat Club's revenue has grown at a compound annual growth rate (CAGR) of 6.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -3.4% | +10.8% | +1.8% |
| 2022 | -0.1% | +21.7% | +8.5% |
| 2021 | +59.8% | +8.3% | +15.3% |
| 2020 | -24.6% | -18.9% | +23.0% |
| 2019 | +13.9% | +15.7% | +7.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1984 |
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 Boat 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: 10%
- programs: 80%
- fundraising: 10%
According to IRS 990 filings, Narragansett Boat Club allocates its expenses as follows: admin: 10%, programs: 80%, fundraising: 10%. 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 $100K, with revenue exceeding expenses.
- Debt-to-asset ratio: 13.1%.
Executive Compensation Analysis
Executive compensation is not reported in the provided data, suggesting it is below the threshold for disclosure or not applicable.
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 Narragansett Boat Club:
- Consistent revenue generation, averaging over $500,000 annually.
- Significant and steady growth in total assets, demonstrating financial stability and capacity.
- Low liability-to-asset ratio, indicating strong financial health.
- Consistent program spending, reflecting dedication to its mission.
Frequently Asked Questions about Narragansett Boat Club
Is Narragansett Boat Club a legitimate charity?
Narragansett Boat Club (EIN: 222480410) is a registered tax-exempt nonprofit based in Rhode Island. Our AI analysis gives it a Mission Score of 85/100. It has 13 years of IRS 990 filings on record. Total revenue: $793K. No red flags identified. 4 strengths noted. Financial health grade: A.
How does Narragansett Boat Club spend its money?
Narragansett Boat Club directs 80% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Narragansett Boat Club tax-deductible?
Narragansett Boat Club is registered as a tax-exempt nonprofit (EIN: 222480410). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Narragansett Boat Club's spending goes to programs?
Narragansett Boat Club directs 80% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Narragansett Boat Club located?
Narragansett Boat Club is headquartered in Providence, Rhode Island and files with the IRS under EIN 222480410.
How many years of IRS 990 filings does Narragansett Boat Club have?
Narragansett Boat 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 $793K in total revenue.
What does Narragansett Boat Club do?
Narragansett Boat Club is a nonprofit organization in the Unknown sector, located in Providence, Rhode Island. It is classified under NTEE code Unknown.
How much revenue does Narragansett Boat Club have?
Narragansett Boat Club reported total revenue of $793,069. Based on 13 IRS 990 filings on record.
What are Narragansett Boat Club's total assets?
Narragansett Boat Club holds total assets of $1,648,167 as reported in IRS 990 filings.
Where is Narragansett Boat Club located?
Narragansett Boat Club is based in Providence, Rhode Island.
What is Narragansett Boat Club's EIN?
Narragansett Boat Club's Employer Identification Number (EIN) is 222480410. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Narragansett Boat Club?
Narragansett Boat Club is classified under NTEE code Unknown (Unknown).
Is Narragansett Boat Club a registered 501(c)(3)?
Narragansett Boat Club appears in IRS records (EIN: 222480410). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Narragansett Boat Club file IRS Form 990?
Yes, Narragansett Boat Club has 13 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Narragansett Boat Club's revenue in 2023?
In the 202312 filing period, Narragansett Boat Club reported total revenue of $651,770, total expenses of $551,888, and net assets of $1,571,810.
Is Narragansett Boat Club's revenue growing or declining?
Narragansett Boat Club's revenue is relatively stable. Revenue went from $674,984 (202212) to $651,770 (202312), a -3.4% change. Based on 13 filings on record.
What is Narragansett Boat Club's most recent 990 filing?
The most recent IRS Form 990 filing for Narragansett Boat Club covers tax period 202312. It shows revenue of $651,770, expenses of $551,888, total assets of $1,571,810, and liabilities of $205,358.
How much does Narragansett Boat Club spend on programs vs administration?
Based on IRS 990 analysis, Narragansett Boat Club allocates approximately 80% of expenses to program services, 10% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Narragansett Boat Club a trustworthy charity?
Based on AI analysis of IRS 990 data, Narragansett Boat Club appears trustworthy. Mission Score: 85/100 (Excellent). No red flags identified. 4 strengths noted.
What are Narragansett Boat Club's strengths?
Positive indicators for Narragansett Boat Club include: Consistent revenue generation, averaging over $500,000 annually.. Significant and steady growth in total assets, demonstrating financial stability and capacity.. Low liability-to-asset ratio, indicating strong financial health.. Consistent program spending, reflecting dedication to its mission.. These findings are derived from AI analysis of the organization's financial filings.
How does Narragansett Boat Club compensate executives?
Executive compensation is not reported in the provided data, suggesting it is below the threshold for disclosure or not applicable. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
What factors contributed to the substantial increase in total assets from $613,065 in 2017 to $1,648,167 in 2023?
The consistent surplus of revenue over expenses, as well as potential capital improvements or donations, likely contributed to this significant asset growth.
Filing History
IRS 990 filing history for Narragansett Boat Club showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Narragansett Boat Club's revenue has grown by 115.3%, moving from $303K to $652K. Total assets increased by 355% over the same period, from $345K to $1.6M. Total functional expenses rose by 114.5%, from $257K to $552K. In its most recent filing year (2023), Narragansett Boat Club reported a surplus of $100K, with revenue exceeding expenses. The organization holds $205K in liabilities against $1.6M in assets (debt-to-asset ratio: 13.1%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $652K | $552K | $1.6M | $205K | — | — |
| 2022 | $675K | $498K | $1.5M | $277K | — | View 990 |
| 2021 | $676K | $409K | $1.4M | $333K | — | View 990 |
| 2020 | $423K | $378K | $1.2M | $411K | — | View 990 |
| 2019 | $561K | $466K | $1.0M | $225K | — | View 990 |
| 2018 | $493K | $403K | $932K | $258K | — | View 990 |
| 2017 | $515K | $375K | $613K | $19K | — | View 990 |
| 2016 | $426K | $362K | $461K | $14K | — | View 990 |
| 2015 | $374K | $308K | $400K | $16K | — | View 990 |
| 2014 | $318K | $331K | $336K | $20K | — | View 990 |
| 2013 | $326K | $299K | $339K | $9K | — | View 990 |
| 2012 | $255K | $289K | $312K | $9K | — | View 990 |
| 2011 | $303K | $257K | $345K | $8K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $652K, expenses of $552K, and assets of $1.6M (revenue -3.4% year-over-year).
- 2022: Revenue of $675K, expenses of $498K, and assets of $1.5M (revenue -0.1% year-over-year).
- 2021: Revenue of $676K, expenses of $409K, and assets of $1.4M (revenue +59.8% year-over-year).
- 2020: Revenue of $423K, expenses of $378K, and assets of $1.2M (revenue -24.6% year-over-year).
- 2019: Revenue of $561K, expenses of $466K, and assets of $1.0M (revenue +13.9% year-over-year).
- 2018: Revenue of $493K, expenses of $403K, and assets of $932K (revenue -4.4% year-over-year).
- 2017: Revenue of $515K, expenses of $375K, and assets of $613K (revenue +20.8% year-over-year).
- 2016: Revenue of $426K, expenses of $362K, and assets of $461K (revenue +13.9% year-over-year).
- 2015: Revenue of $374K, expenses of $308K, and assets of $400K (revenue +17.8% year-over-year).
- 2014: Revenue of $318K, expenses of $331K, and assets of $336K (revenue -2.6% year-over-year).
- 2013: Revenue of $326K, expenses of $299K, and assets of $339K (revenue +28.0% year-over-year).
- 2012: Revenue of $255K, expenses of $289K, and assets of $312K (revenue -15.8% year-over-year).
- 2011: Revenue of $303K, expenses of $257K, and assets of $345K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Narragansett Boat Club:
Data Sources and Methodology
This transparency report for Narragansett Boat 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.