Pelican Isle Yacht Club Inc
Pelican Isle Yacht Club Inc. consistently spends more than it earns, funding operations and significant asset growth through increased liabilities.
EIN: 10597016 · Naples, FL · NTEE: N50 · Updated: 2026-03-28
Is Pelican Isle Yacht Club Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Pelican Isle Yacht Club Inc directs 80% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Pelican Isle Yacht Club Inc
Pelican Isle Yacht Club Inc (EIN: 10597016) is a nonprofit organization based in Naples, FL, classified under NTEE code N50. The organization reported total revenue of $5.3M and total assets of $42.3M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Pelican Isle Yacht Club Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Pelican Isle Yacht Club Inc with a Mission Score of 60 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, Pelican Isle Yacht Club Inc 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.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that officers are not compensated or are compensated through non-officer roles, which is typical for member-based organizations where leadership may be volunteer.
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 Pelican Isle Yacht Club Inc's IRS 990 filings:
- Consistent operating deficits (e.g., $768,127 revenue vs. $7,342,815 expenses in 202306)
- Significant increase in liabilities (from $6,230,295 to $19,021,204 between 202206 and 202306) without clear explanation in provided data
Strengths
The following positive indicators were identified for Pelican Isle Yacht Club Inc:
- No reported officer compensation, suggesting volunteer leadership or non-officer compensation structures
- Substantial and growing asset base ($42,309,254 latest assets), indicating significant investment in facilities for its members
Frequently Asked Questions about Pelican Isle Yacht Club Inc
Is Pelican Isle Yacht Club Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Pelican Isle Yacht Club Inc (EIN: 10597016) some concerns. Mission Score: 60/100. 2 red flags identified, 2 strengths noted.
How does Pelican Isle Yacht Club Inc spend its money?
Pelican Isle Yacht Club Inc directs 80% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Pelican Isle Yacht Club Inc tax-deductible?
Pelican Isle Yacht Club Inc is registered as a tax-exempt nonprofit (EIN: 10597016). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
How does Pelican Isle Yacht Club Inc. sustain its operations with consistent revenue deficits?
The consistent deficits, such as $768,127 revenue vs. $7,342,815 expenses in 202306, suggest that the organization likely relies on membership dues, capital contributions, or other non-revenue income streams not fully reflected in the 'revenue' line item on the 990, or it is drawing down reserves or incurring debt to cover operational costs and investments.
What is the nature of the significant increase in assets and liabilities in the 202306 period?
The jump in assets from $29,043,480 to $40,184,028 and liabilities from $6,230,295 to $19,021,204 between 202206 and 202306 strongly suggests major capital expenditures, such as facility expansion, renovation, or acquisition, financed through significant borrowing.
Is the organization financially healthy despite the revenue-expense imbalance?
While the revenue-expense imbalance is notable, the substantial and growing asset base ($42,309,254 latest assets) indicates a significant physical presence and investment. The financial health needs to be assessed in the context of its member-based model, where member contributions and debt financing for capital projects are common, rather than solely on annual operating surpluses.
Filing History
IRS 990 filing history for Pelican Isle Yacht Club Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Pelican Isle Yacht Club Inc's revenue has declined by 67.1%, moving from $2.3M to $768K. Total assets increased by 112.3% over the same period, from $18.9M to $40.2M. Total functional expenses rose by 176.1%, from $2.7M to $7.3M. In its most recent filing year (2023), Pelican Isle Yacht Club Inc reported a deficit of $6.6M, with expenses exceeding revenue. The organization holds $19.0M in liabilities against $40.2M in assets (debt-to-asset ratio: 47.3%), resulting in net assets of $21.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $768K | $7.3M | $40.2M | $19.0M | — | View 990 |
| 2022 | $4.1M | $5.0M | $29.0M | $6.2M | — | View 990 |
| 2021 | $4.4M | $4.4M | $27.5M | $5.6M | — | View 990 |
| 2020 | $3.3M | $3.9M | $25.3M | $5.4M | — | — |
| 2019 | $3.1M | $3.8M | $24.7M | $5.3M | — | View 990 |
| 2018 | $2.6M | $3.5M | $24.8M | $5.8M | — | View 990 |
| 2017 | $2.5M | $3.3M | $19.9M | $1.6M | — | View 990 |
| 2016 | $2.5M | $3.2M | $18.6M | $1.7M | — | View 990 |
| 2015 | $2.4M | $2.9M | $19.0M | $1.9M | — | View 990 |
| 2014 | $2.3M | $2.9M | $17.9M | $1.1M | — | View 990 |
| 2013 | $2.2M | $2.9M | $18.1M | $916K | — | View 990 |
| 2012 | $2.2M | $2.6M | $18.6M | $756K | — | View 990 |
| 2011 | $2.3M | $2.7M | $18.9M | $843K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $768K, expenses of $7.3M, and assets of $40.2M (revenue -81.2% year-over-year).
- 2022: Revenue of $4.1M, expenses of $5.0M, and assets of $29.0M (revenue -6.0% year-over-year).
- 2021: Revenue of $4.4M, expenses of $4.4M, and assets of $27.5M (revenue +33.4% year-over-year).
- 2020: Revenue of $3.3M, expenses of $3.9M, and assets of $25.3M (revenue +6.4% year-over-year).
- 2019: Revenue of $3.1M, expenses of $3.8M, and assets of $24.7M (revenue +19.9% year-over-year).
- 2018: Revenue of $2.6M, expenses of $3.5M, and assets of $24.8M (revenue +3.1% year-over-year).
- 2017: Revenue of $2.5M, expenses of $3.3M, and assets of $19.9M (revenue -1.7% year-over-year).
- 2016: Revenue of $2.5M, expenses of $3.2M, and assets of $18.6M (revenue +4.7% year-over-year).
- 2015: Revenue of $2.4M, expenses of $2.9M, and assets of $19.0M (revenue +6.4% year-over-year).
- 2014: Revenue of $2.3M, expenses of $2.9M, and assets of $17.9M (revenue +4.1% year-over-year).
- 2013: Revenue of $2.2M, expenses of $2.9M, and assets of $18.1M (revenue -2.2% year-over-year).
- 2012: Revenue of $2.2M, expenses of $2.6M, and assets of $18.6M (revenue -4.9% year-over-year).
- 2011: Revenue of $2.3M, expenses of $2.7M, and assets of $18.9M.
Data Sources and Methodology
This transparency report for Pelican Isle Yacht Club 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.