Rhode Island Saltwater Anglers Foundation Inc
Rhode Island Saltwater Anglers Foundation Inc. maintains zero liabilities and volunteer leadership amidst fluctuating revenues.
EIN: 200904353 · Coventry, RI · NTEE: C32 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $56K |
| Total Expenses | $17K |
| Program Spending | 90% |
| Net Assets | $97K |
| Transparency Score | 85/100 |
Is Rhode Island Saltwater Anglers Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Rhode Island Saltwater Anglers Foundation Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Rhode Island Saltwater Anglers Foundation Inc
Rhode Island Saltwater Anglers Foundation Inc (EIN: 200904353) is a nonprofit organization based in Coventry, RI, classified under NTEE code C32. The organization reported total revenue of $56K and total assets of $130K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Rhode Island Saltwater Anglers Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Rhode Island Saltwater Anglers Foundation Inc is a micro nonprofit that has been operating for 22 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 1.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $15K |
| Total Expenses | $17K |
| Surplus / Deficit | $-2,709 |
| Total Assets | $97K |
| Net Assets | $97K |
| Operating Margin | -18.7% |
| Months of Reserves | 67.2 months |
Financial Health Grade: B
In 2023, Rhode Island Saltwater Anglers Foundation Inc reported a deficit of $3K with expenses exceeding revenue, holds 67.2 months of operating reserves (strong position).
Financial Trends
Over 13 years of filings (2011–2023), Rhode Island Saltwater Anglers Foundation Inc's revenue has grown at a compound annual growth rate (CAGR) of 1.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -64.1% | -44.6% | -1.7% |
| 2022 | +36.7% | +1069.6% | +10.6% |
| 2021 | -41.3% | -87.3% | +43.5% |
| 2020 | +119.6% | -51.5% | +91.4% |
| 2019 | -46.7% | -2.4% | -38.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2004 |
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 Rhode Island Saltwater Anglers Foundation 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: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, Rhode Island Saltwater Anglers Foundation Inc allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% 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 $3K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based. This is highly commendable for an organization of its size, allowing all funds to be directed towards its mission rather than administrative salaries.
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 Rhode Island Saltwater Anglers Foundation Inc's IRS 990 filings:
- Significant revenue fluctuations year-over-year, such as the drop from $40,490 in 2022 to $14,524 in 2023, could impact program consistency if not managed well.
- Expenses exceeded revenue in some years (e.g., 2019 with $43,136 expenses vs. $22,984 revenue; 2018 with $44,175 expenses vs. $43,160 revenue; 2023 with $17,233 expenses vs. $14,524 revenue), indicating deficit spending in those periods.
Strengths
The following positive indicators were identified for Rhode Island Saltwater Anglers Foundation Inc:
- Consistent asset growth over the past decade, from $21,121 in 2014 to $96,528 in 2023, demonstrating effective financial management.
- Zero liabilities reported across all filings, indicating a debt-free operation and strong financial health.
- 0% officer compensation, suggesting a highly efficient, volunteer-led structure that maximizes funds for its mission.
- Consistent filing of IRS Form 990s over 13 periods, demonstrating strong transparency and regulatory compliance.
- Lean operational structure implied by the absence of paid executive staff, likely leading to a high percentage of funds going to programs.
Frequently Asked Questions about Rhode Island Saltwater Anglers Foundation Inc
Is Rhode Island Saltwater Anglers Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Rhode Island Saltwater Anglers Foundation Inc (EIN: 200904353) some concerns. Mission Score: 85/100. 2 red flags identified, 5 strengths noted.
How does Rhode Island Saltwater Anglers Foundation Inc spend its money?
Rhode Island Saltwater Anglers Foundation Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Rhode Island Saltwater Anglers Foundation Inc tax-deductible?
Rhode Island Saltwater Anglers Foundation Inc is registered as a tax-exempt nonprofit (EIN: 200904353). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Rhode Island Saltwater Anglers Foundation Inc's spending goes to programs?
Rhode Island Saltwater Anglers Foundation Inc directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Rhode Island Saltwater Anglers Foundation Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Rhode Island Saltwater Anglers Foundation Inc is above average for NTEE category C32 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Rhode Island Saltwater Anglers Foundation Inc located?
Rhode Island Saltwater Anglers Foundation Inc is headquartered in Coventry, Rhode Island and files with the IRS under EIN 200904353. It is classified under NTEE code C32.
How many years of IRS 990 filings does Rhode Island Saltwater Anglers Foundation Inc have?
Rhode Island Saltwater Anglers Foundation Inc 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 $56K in total revenue.
Is Rhode Island Saltwater Anglers Foundation Inc. financially stable?
Yes, the organization appears financially stable. It has consistently grown its assets from $21,121 in 2014 to $96,528 in 2023 and has reported $0 in liabilities across all available filings, indicating a strong balance sheet and no debt.
How does the organization manage executive compensation?
The organization reports 0% officer compensation in all available filings, meaning its leadership serves on a volunteer basis. This is a significant positive for directing resources to its mission.
Has the organization experienced revenue fluctuations?
Yes, the organization's revenue has fluctuated, ranging from a low of $12,238 in 2014 to a high of $50,484 in 2020, and most recently $14,524 in 2023. Despite these fluctuations, assets have shown consistent growth.
Does the organization carry any debt?
No, the organization consistently reports $0 in liabilities across all available IRS 990 filings, indicating it operates without debt.
Filing History
IRS 990 filing history for Rhode Island Saltwater Anglers Foundation Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Rhode Island Saltwater Anglers Foundation Inc's revenue has grown by 21.6%, moving from $12K to $15K. Total assets increased by 557.2% over the same period, from $15K to $97K. Total functional expenses rose by 78.3%, from $10K to $17K. In its most recent filing year (2023), Rhode Island Saltwater Anglers Foundation Inc reported a deficit of $3K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $15K | $17K | $97K | $0 | — | — |
| 2022 | $40K | $31K | $98K | $0 | — | — |
| 2021 | $30K | $3K | $89K | $0 | — | — |
| 2020 | $50K | $21K | $62K | $0 | — | View 990 |
| 2019 | $23K | $43K | $32K | $0 | — | View 990 |
| 2018 | $43K | $44K | $52K | $0 | — | View 990 |
| 2017 | $32K | $11K | $54K | $0 | — | — |
| 2016 | $25K | $16K | $33K | $0 | — | View 990 |
| 2015 | $17K | $15K | $24K | $0 | — | View 990 |
| 2014 | $12K | $9K | $21K | $0 | — | View 990 |
| 2013 | $20K | $25K | $18K | $0 | — | View 990 |
| 2012 | $15K | $8K | $23K | $0 | — | View 990 |
| 2011 | $12K | $10K | $15K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $15K, expenses of $17K, and assets of $97K (revenue -64.1% year-over-year).
- 2022: Revenue of $40K, expenses of $31K, and assets of $98K (revenue +36.7% year-over-year).
- 2021: Revenue of $30K, expenses of $3K, and assets of $89K (revenue -41.3% year-over-year).
- 2020: Revenue of $50K, expenses of $21K, and assets of $62K (revenue +119.6% year-over-year).
- 2019: Revenue of $23K, expenses of $43K, and assets of $32K (revenue -46.7% year-over-year).
- 2018: Revenue of $43K, expenses of $44K, and assets of $52K (revenue +36.3% year-over-year).
- 2017: Revenue of $32K, expenses of $11K, and assets of $54K (revenue +25.1% year-over-year).
- 2016: Revenue of $25K, expenses of $16K, and assets of $33K (revenue +45.4% year-over-year).
- 2015: Revenue of $17K, expenses of $15K, and assets of $24K (revenue +42.2% year-over-year).
- 2014: Revenue of $12K, expenses of $9K, and assets of $21K (revenue -39.4% year-over-year).
- 2013: Revenue of $20K, expenses of $25K, and assets of $18K (revenue +30.4% year-over-year).
- 2012: Revenue of $15K, expenses of $8K, and assets of $23K (revenue +29.6% year-over-year).
- 2011: Revenue of $12K, expenses of $10K, and assets of $15K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Rhode Island Saltwater Anglers Foundation Inc:
Data Sources and Methodology
This transparency report for Rhode Island Saltwater Anglers Foundation 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.