Sailing Yacht Research Foundation Inc
Sailing Yacht Research Foundation Inc. faces significant financial challenges with consistent operating deficits and declining assets.
EIN: 202021318 · Jamestown, RI · NTEE: U05 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $488K |
| Total Expenses | $166K |
| Program Spending | 70% |
| Net Assets | $431K |
| Transparency Score | 45/100 |
Is Sailing Yacht Research Foundation Inc Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Sailing Yacht Research Foundation Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Sailing Yacht Research Foundation Inc
Sailing Yacht Research Foundation Inc (EIN: 202021318) is a nonprofit organization based in Jamestown, RI, classified under NTEE code U05. The organization reported total revenue of $488K and total assets of $70K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Sailing Yacht Research Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Sailing Yacht Research Foundation Inc is a small nonprofit that has been operating for 20 years, with 10 years of IRS 990 filings on record (2011–2020). Revenue has grown at a compound annual rate of -18.6%.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
| Total Revenue | $30K |
| Total Expenses | $166K |
| Surplus / Deficit | $-135,849 |
| Total Assets | $431K |
| Net Assets | $431K |
| Operating Margin | -448.7% |
| Months of Reserves | 31.1 months |
Financial Health Grade: B
In 2020, Sailing Yacht Research Foundation Inc reported a deficit of $136K with expenses exceeding revenue, holds 31.1 months of operating reserves (strong position).
Financial Trends
Over 10 years of filings (2011–2020), Sailing Yacht Research Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -18.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2020 | +63.4% | -35.1% | -22.2% |
| 2019 | -66.9% | +78.2% | -23.2% |
| 2018 | -68.4% | -31.3% | -14.1% |
| 2017 | +317.6% | +20.0% | -3.7% |
| 2016 | -91.4% | -5.1% | -13.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1200 |
| IRS Ruling Date | 2006 |
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 Sailing Yacht Research Foundation Inc with a Mission Score of 45 out of 100 (Fair). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Sailing Yacht Research Foundation Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2020)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $136K, with expenses exceeding revenue.
Executive Compensation Analysis
Executive compensation has consistently been reported as 0% of expenses across all available filings, indicating a volunteer-led organization. This suggests a commitment to minimizing overhead costs at the leadership level.
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 Sailing Yacht Research Foundation Inc's IRS 990 filings:
- Consistent operating deficits over multiple years (e.g., 2020: $30,275 revenue vs. $166,124 expenses).
- Significant decline in total assets from $1,003,098 in 2015 to $70,482 currently.
- Reliance on asset depletion to cover operational costs.
- Unclear strategy for achieving long-term financial stability given historical trends.
Strengths
The following positive indicators were identified for Sailing Yacht Research Foundation Inc:
- No reported liabilities across all filing periods.
- Consistent reporting of 0% officer compensation, indicating volunteer leadership.
- Extensive filing history (10 filings) provides good transparency into past financial performance.
Frequently Asked Questions about Sailing Yacht Research Foundation Inc
Is Sailing Yacht Research Foundation Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Sailing Yacht Research Foundation Inc (EIN: 202021318) significant concerns. Mission Score: 45/100. 4 red flags identified, 3 strengths noted.
How does Sailing Yacht Research Foundation Inc spend its money?
Sailing Yacht Research Foundation Inc directs 70% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Sailing Yacht Research Foundation Inc tax-deductible?
Sailing Yacht Research Foundation Inc is registered as a tax-exempt nonprofit (EIN: 202021318). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Sailing Yacht Research Foundation Inc's spending goes to programs?
Sailing Yacht Research Foundation Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
How does Sailing Yacht Research Foundation Inc compare to similar nonprofits?
With a transparency score of 45/100 (Fair), Sailing Yacht Research Foundation Inc is near average for NTEE category U05 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is Sailing Yacht Research Foundation Inc located?
Sailing Yacht Research Foundation Inc is headquartered in Jamestown, Rhode Island and files with the IRS under EIN 202021318. It is classified under NTEE code U05.
How many years of IRS 990 filings does Sailing Yacht Research Foundation Inc have?
Sailing Yacht Research Foundation Inc has 10 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 $488K in total revenue.
Is Sailing Yacht Research Foundation Inc. financially sustainable?
Based on the historical data showing consistent operating deficits (e.g., $30,275 revenue vs. $166,124 expenses in 2020) and a significant decline in assets from over $1 million in 2015 to $70,482 currently, the organization's financial sustainability is highly questionable without a significant change in its financial model.
How does the organization cover its consistent operating deficits?
The consistent operating deficits, such as in 2019 ($18,531 revenue vs. $256,005 expenses), appear to have been covered by drawing down its assets, as evidenced by the substantial decrease in total assets over the past decade.
What is the impact of the latest reported revenue of $487,541?
While the latest reported revenue of $487,541 is significantly higher than recent years, its impact on the organization's financial health cannot be fully assessed without knowing the corresponding expenses for that period. If expenses remain high, it may not fully reverse the trend of asset depletion.
Filing History
IRS 990 filing history for Sailing Yacht Research Foundation Inc showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2020), Sailing Yacht Research Foundation Inc's revenue has declined by 84.3%, moving from $193K to $30K. Total assets decreased by 22.2% over the same period, from $554K to $431K. Total functional expenses rose by 44.4%, from $115K to $166K. In its most recent filing year (2020), Sailing Yacht Research Foundation Inc reported a deficit of $136K, with expenses exceeding revenue.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2020 | $30K | $166K | $431K | $0 | — | View 990 |
| 2019 | $19K | $256K | $554K | $0 | — | View 990 |
| 2018 | $56K | $144K | $721K | $0 | — | View 990 |
| 2017 | $177K | $209K | $839K | $0 | — | View 990 |
| 2016 | $42K | $174K | $871K | $0 | — | View 990 |
| 2015 | $495K | $184K | $1.0M | $0 | — | View 990 |
| 2014 | $356K | $444K | $710K | $0 | — | View 990 |
| 2013 | $435K | $239K | $803K | $0 | — | View 990 |
| 2012 | $215K | $217K | $582K | $0 | — | View 990 |
| 2011 | $193K | $115K | $554K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2020: Revenue of $30K, expenses of $166K, and assets of $431K (revenue +63.4% year-over-year).
- 2019: Revenue of $19K, expenses of $256K, and assets of $554K (revenue -66.9% year-over-year).
- 2018: Revenue of $56K, expenses of $144K, and assets of $721K (revenue -68.4% year-over-year).
- 2017: Revenue of $177K, expenses of $209K, and assets of $839K (revenue +317.6% year-over-year).
- 2016: Revenue of $42K, expenses of $174K, and assets of $871K (revenue -91.4% year-over-year).
- 2015: Revenue of $495K, expenses of $184K, and assets of $1.0M (revenue +38.9% year-over-year).
- 2014: Revenue of $356K, expenses of $444K, and assets of $710K (revenue -18.1% year-over-year).
- 2013: Revenue of $435K, expenses of $239K, and assets of $803K (revenue +102.1% year-over-year).
- 2012: Revenue of $215K, expenses of $217K, and assets of $582K (revenue +11.4% year-over-year).
- 2011: Revenue of $193K, expenses of $115K, and assets of $554K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Sailing Yacht Research Foundation Inc:
Data Sources and Methodology
This transparency report for Sailing Yacht Research 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.