Seal Harbor Yacht Club Inc
Seal Harbor Yacht Club Inc maintains stable finances with volunteer leadership and growing assets.
EIN: 10537445 · Seal Harbor, ME · NTEE: N50 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $442K |
| Total Expenses | $272K |
| Program Spending | 90% |
| Net Assets | $685K |
| Transparency Score | 85/100 |
Is Seal Harbor 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 →
Seal Harbor Yacht Club Inc directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Seal Harbor Yacht Club Inc
Seal Harbor Yacht Club Inc (EIN: 10537445) is a nonprofit organization based in Seal Harbor, ME, classified under NTEE code N50. The organization reported total revenue of $442K and total assets of $829K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Seal Harbor Yacht Club Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Seal Harbor Yacht Club Inc is a small nonprofit that has been operating for 25 years, with 13 years of IRS 990 filings on record (2012–2023). Revenue has grown at a compound annual rate of 4.5%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $271K |
| Total Expenses | $272K |
| Surplus / Deficit | $-582 |
| Total Assets | $703K |
| Total Liabilities | $19K |
| Net Assets | $685K |
| Operating Margin | -0.2% |
| Debt-to-Asset Ratio | 2.7% |
| Months of Reserves | 31.0 months |
Financial Health Grade: B
In 2023, Seal Harbor Yacht Club Inc reported a deficit of $582 with expenses exceeding revenue, holds 31.0 months of operating reserves (strong position), has a debt-to-asset ratio of 2.7% (very low leverage).
Financial Trends
Over 13 years of filings (2012–2023), Seal Harbor Yacht Club Inc's revenue has grown at a compound annual growth rate (CAGR) of 4.5%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +4.1% | +2.1% | +2.6% |
| 2022 | +1.0% | +0.0% | -1.1% |
| 2021 | +17.7% | +39.4% | -1.4% |
| 2020 | -26.2% | -18.8% | +1.4% |
| 2019 | +28.0% | +10.2% | +11.6% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2001 |
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 Seal Harbor Yacht Club 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, Seal Harbor Yacht Club 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 (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $582, with expenses exceeding revenue.
- Debt-to-asset ratio: 2.7%.
Executive Compensation Analysis
Executive compensation is consistently reported as 0% across all available filings, indicating that the organization's leadership is entirely volunteer-based, which significantly reduces overhead costs 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 Seal Harbor Yacht Club Inc's IRS 990 filings:
- Lack of detailed program vs. administrative spending breakdown in provided summary data (common for smaller organizations)
Strengths
The following positive indicators were identified for Seal Harbor Yacht Club Inc:
- Consistent 0% officer compensation, indicating volunteer leadership and low administrative overhead.
- Steady growth in assets over the past decade, from $646,449 in 2014 to $703,343 in 2023.
- Extremely low liabilities across all reporting periods, demonstrating strong financial stability.
- Consistent filing of IRS Form 990s over 13 periods, indicating good transparency and compliance.
- Operations consistently near break-even, showing responsible financial management.
Frequently Asked Questions about Seal Harbor Yacht Club Inc
Is Seal Harbor Yacht Club Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Seal Harbor Yacht Club Inc (EIN: 10537445) some concerns. Mission Score: 85/100. 1 red flag identified, 5 strengths noted.
How does Seal Harbor Yacht Club Inc spend its money?
Seal Harbor Yacht Club Inc directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Seal Harbor Yacht Club Inc tax-deductible?
Seal Harbor Yacht Club Inc is registered as a tax-exempt nonprofit (EIN: 10537445). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Seal Harbor Yacht Club Inc's spending goes to programs?
Seal Harbor Yacht Club Inc directs 90% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does Seal Harbor Yacht Club Inc compare to similar nonprofits?
With a transparency score of 85/100 (Excellent), Seal Harbor Yacht Club 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 Seal Harbor Yacht Club Inc located?
Seal Harbor Yacht Club Inc is headquartered in Seal Harbor, Maine and files with the IRS under EIN 10537445. It is classified under NTEE code N50.
How many years of IRS 990 filings does Seal Harbor Yacht Club Inc have?
Seal Harbor Yacht Club 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 $442K in total revenue.
Is Seal Harbor Yacht Club Inc a good charity?
Based on the available financial data, Seal Harbor Yacht Club Inc appears to be a well-managed organization. It consistently operates near break-even, has growing assets, minimal liabilities, and reports 0% officer compensation, suggesting efficient use of funds and strong volunteer engagement.
How has the organization's financial health changed over the last decade?
Over the last decade, Seal Harbor Yacht Club Inc has shown consistent financial stability. Revenues and expenses have generally increased modestly, with assets growing from $646,449 in 2014 to $703,343 in 2023, while liabilities have remained very low, indicating improving financial health and asset accumulation.
What is the trend in the organization's assets and liabilities?
Assets have shown a positive upward trend, increasing from $646,449 in 2014 to $703,343 in 2023. Liabilities have consistently remained very low, often below $20,000, and in some years, even $0, indicating a very strong balance sheet with minimal debt.
Filing History
IRS 990 filing history for Seal Harbor Yacht Club Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2012–2023), Seal Harbor Yacht Club Inc's revenue has grown by 61.8%, moving from $168K to $271K. Total assets increased by 25.7% over the same period, from $560K to $703K. Total functional expenses rose by 131.6%, from $117K to $272K. In its most recent filing year (2023), Seal Harbor Yacht Club Inc reported a deficit of $582, with expenses exceeding revenue. The organization holds $19K in liabilities against $703K in assets (debt-to-asset ratio: 2.7%), resulting in net assets of $685K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $271K | $272K | $703K | $19K | — | — |
| 2022 | $261K | $266K | $685K | $0 | — | — |
| 2021 | $258K | $266K | $693K | $634 | — | View 990 |
| 2020 | $219K | $191K | $702K | $2K | — | — |
| 2019 | $297K | $235K | $693K | $21K | — | View 990 |
| 2018 | $232K | $213K | $621K | $11K | — | View 990 |
| 2017 | $185K | $223K | $599K | $7K | — | View 990 |
| 2016 | $196K | $212K | $656K | $26K | — | View 990 |
| 2015 | $207K | $204K | $647K | $959 | — | View 990 |
| 2014 | $197K | $207K | $646K | $4K | — | View 990 |
| 2013 | $188K | $138K | $653K | $200 | — | View 990 |
| 2013 | $168K | $131K | $604K | $0 | — | View 990 |
| 2012 | $168K | $117K | $560K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $271K, expenses of $272K, and assets of $703K (revenue +4.1% year-over-year).
- 2022: Revenue of $261K, expenses of $266K, and assets of $685K (revenue +1.0% year-over-year).
- 2021: Revenue of $258K, expenses of $266K, and assets of $693K (revenue +17.7% year-over-year).
- 2020: Revenue of $219K, expenses of $191K, and assets of $702K (revenue -26.2% year-over-year).
- 2019: Revenue of $297K, expenses of $235K, and assets of $693K (revenue +28.0% year-over-year).
- 2018: Revenue of $232K, expenses of $213K, and assets of $621K (revenue +25.7% year-over-year).
- 2017: Revenue of $185K, expenses of $223K, and assets of $599K (revenue -6.0% year-over-year).
- 2016: Revenue of $196K, expenses of $212K, and assets of $656K (revenue -5.2% year-over-year).
- 2015: Revenue of $207K, expenses of $204K, and assets of $647K (revenue +5.3% year-over-year).
- 2014: Revenue of $197K, expenses of $207K, and assets of $646K (revenue +4.5% year-over-year).
- 2013: Revenue of $188K, expenses of $138K, and assets of $653K (revenue +11.8% year-over-year).
- 2013: Revenue of $168K, expenses of $131K, and assets of $604K (revenue +0.3% year-over-year).
- 2012: Revenue of $168K, expenses of $117K, and assets of $560K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Seal Harbor Yacht Club Inc:
Data Sources and Methodology
This transparency report for Seal Harbor 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.