Tin Can Sailors Inc
EIN: 42777916 · Somerset, MA
| Metric | Value |
|---|---|
| Total Revenue | $774K |
| Total Expenses | $728K |
| Net Assets | $296K |
Is Tin Can Sailors Inc Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Tin Can Sailors Inc
Tin Can Sailors Inc (EIN: 42777916) is a nonprofit organization based in Somerset, MA. The organization reported total revenue of $774K and total assets of $983K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Tin Can Sailors Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Tin Can Sailors Inc is a small nonprofit that has been operating for 43 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $489K |
| Total Expenses | $728K |
| Surplus / Deficit | $-239,192 |
| Total Assets | $670K |
| Total Liabilities | $374K |
| Net Assets | $296K |
| Operating Margin | -48.9% |
| Debt-to-Asset Ratio | 55.8% |
| Months of Reserves | 11.1 months |
Financial Health Grade: C
In 2023, Tin Can Sailors Inc reported a deficit of $239K with expenses exceeding revenue, holds 11.1 months of operating reserves (strong position), has a debt-to-asset ratio of 55.8% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Tin Can Sailors Inc's revenue has declined at a compound annual growth rate (CAGR) of -3.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -25.9% | -10.1% | +0.7% |
| 2022 | +16.9% | +48.0% | -14.8% |
| 2021 | -4.6% | -1.9% | -1.0% |
| 2020 | -11.1% | -17.7% | -0.2% |
| 2019 | -6.2% | -1.8% | -4.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 2000 |
| IRS Ruling Date | 1983 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Tin Can Sailors Inc has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Tin Can Sailors Inc with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $239K, with expenses exceeding revenue.
- Debt-to-asset ratio: 55.8%.
Frequently Asked Questions about Tin Can Sailors Inc
Is Tin Can Sailors Inc a legitimate charity?
Based on AI analysis of IRS 990 filings, Tin Can Sailors Inc (EIN: 42777916) insufficient data. 0 red flags identified, 0 strengths noted.
How does Tin Can Sailors Inc spend its money?
Detailed spending breakdown data is not yet available for Tin Can Sailors Inc. Check back for updated IRS 990 analysis.
Are donations to Tin Can Sailors Inc tax-deductible?
Tin Can Sailors Inc is registered as a tax-exempt nonprofit (EIN: 42777916). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Tin Can Sailors Inc located?
Tin Can Sailors Inc is headquartered in Somerset, Massachusetts and files with the IRS under EIN 42777916.
How many years of IRS 990 filings does Tin Can Sailors Inc have?
Tin Can Sailors 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 $774K in total revenue.
Filing History
IRS 990 filing history for Tin Can Sailors Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Tin Can Sailors Inc's revenue has declined by 32.3%, moving from $721K to $489K. Total assets decreased by 9.9% over the same period, from $744K to $670K. Total functional expenses rose by 10.7%, from $657K to $728K. In its most recent filing year (2023), Tin Can Sailors Inc reported a deficit of $239K, with expenses exceeding revenue. The organization holds $374K in liabilities against $670K in assets (debt-to-asset ratio: 55.8%), resulting in net assets of $296K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $489K | $728K | $670K | $374K | — | View 990 |
| 2022 | $659K | $810K | $665K | $130K | — | View 990 |
| 2021 | $564K | $547K | $781K | $95K | — | View 990 |
| 2020 | $591K | $558K | $789K | $120K | — | — |
| 2019 | $665K | $678K | $791K | $155K | — | View 990 |
| 2018 | $709K | $690K | $825K | $155K | — | View 990 |
| 2017 | $722K | $731K | $786K | $136K | — | View 990 |
| 2016 | $730K | $669K | $796K | $136K | — | View 990 |
| 2015 | $705K | $687K | $729K | $131K | — | View 990 |
| 2014 | $695K | $673K | $717K | $137K | — | View 990 |
| 2013 | $708K | $663K | $703K | $145K | — | View 990 |
| 2012 | $606K | $665K | $688K | $176K | — | View 990 |
| 2011 | $721K | $657K | $744K | $172K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $489K, expenses of $728K, and assets of $670K (revenue -25.9% year-over-year).
- 2022: Revenue of $659K, expenses of $810K, and assets of $665K (revenue +16.9% year-over-year).
- 2021: Revenue of $564K, expenses of $547K, and assets of $781K (revenue -4.6% year-over-year).
- 2020: Revenue of $591K, expenses of $558K, and assets of $789K (revenue -11.1% year-over-year).
- 2019: Revenue of $665K, expenses of $678K, and assets of $791K (revenue -6.2% year-over-year).
- 2018: Revenue of $709K, expenses of $690K, and assets of $825K (revenue -1.8% year-over-year).
- 2017: Revenue of $722K, expenses of $731K, and assets of $786K (revenue -1.1% year-over-year).
- 2016: Revenue of $730K, expenses of $669K, and assets of $796K (revenue +3.6% year-over-year).
- 2015: Revenue of $705K, expenses of $687K, and assets of $729K (revenue +1.5% year-over-year).
- 2014: Revenue of $695K, expenses of $673K, and assets of $717K (revenue -1.9% year-over-year).
- 2013: Revenue of $708K, expenses of $663K, and assets of $703K (revenue +16.9% year-over-year).
- 2012: Revenue of $606K, expenses of $665K, and assets of $688K (revenue -16.0% year-over-year).
- 2011: Revenue of $721K, expenses of $657K, and assets of $744K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Tin Can Sailors Inc:
Data Sources and Methodology
This transparency report for Tin Can Sailors 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.