Towing Vessel Inspection Bureau
EIN: 271561296 · Channelview, TX · NTEE: Y03
Is Towing Vessel Inspection Bureau Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Towing Vessel Inspection Bureau
Towing Vessel Inspection Bureau (EIN: 271561296) is a nonprofit organization based in Channelview, TX, classified under NTEE code Y03. The organization reported total revenue of $1.2M and total assets of $767K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Towing Vessel Inspection Bureau's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Towing Vessel Inspection Bureau is a mid-size nonprofit that has been operating for 12 years, with 10 years of IRS 990 filings on record (2014–2023). Revenue has grown at a compound annual rate of 15.2%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.2M |
| Total Expenses | $1.1M |
| Surplus / Deficit | +$87K |
| Total Assets | $774K |
| Total Liabilities | $281K |
| Net Assets | $493K |
| Operating Margin | 7.1% |
| Debt-to-Asset Ratio | 36.3% |
| Months of Reserves | 8.2 months |
Financial Health Grade: A
In 2023, Towing Vessel Inspection Bureau reported a surplus of $87K with revenue exceeding expenses, holds 8.2 months of operating reserves (strong position), has a debt-to-asset ratio of 36.3% (moderate leverage).
Financial Trends
Over 10 years of filings (2014–2023), Towing Vessel Inspection Bureau's revenue has grown at a compound annual growth rate (CAGR) of 15.2%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +3.6% | +23.1% | +0.7% |
| 2022 | +31.1% | +13.0% | +33.3% |
| 2021 | -5.6% | -8.3% | +6.3% |
| 2020 | -2.0% | +7.1% | -3.5% |
| 2019 | +24.0% | -4.5% | +9.3% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2014 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Towing Vessel Inspection Bureau 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 Towing Vessel Inspection Bureau 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 surplus of $87K, with revenue exceeding expenses.
- Debt-to-asset ratio: 36.3%.
Frequently Asked Questions about Towing Vessel Inspection Bureau
Is Towing Vessel Inspection Bureau a legitimate charity?
Based on AI analysis of IRS 990 filings, Towing Vessel Inspection Bureau (EIN: 271561296) insufficient data. 0 red flags identified, 0 strengths noted.
How does Towing Vessel Inspection Bureau spend its money?
Detailed spending breakdown data is not yet available for Towing Vessel Inspection Bureau. Check back for updated IRS 990 analysis.
Are donations to Towing Vessel Inspection Bureau tax-deductible?
Towing Vessel Inspection Bureau is registered as a tax-exempt nonprofit (EIN: 271561296). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Towing Vessel Inspection Bureau showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2014–2023), Towing Vessel Inspection Bureau's revenue has grown by 258.2%, moving from $342K to $1.2M. Total assets increased by 592.3% over the same period, from $112K to $774K. Total functional expenses rose by 309.7%, from $277K to $1.1M. In its most recent filing year (2023), Towing Vessel Inspection Bureau reported a surplus of $87K, with revenue exceeding expenses. The organization holds $281K in liabilities against $774K in assets (debt-to-asset ratio: 36.3%), resulting in net assets of $493K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $1.2M | $1.1M | $774K | $281K | — | View 990 |
| 2022 | $1.2M | $924K | $769K | $363K | — | — |
| 2021 | $902K | $818K | $577K | $429K | — | View 990 |
| 2020 | $955K | $892K | $543K | $478K | — | View 990 |
| 2019 | $975K | $833K | $562K | $559K | — | View 990 |
| 2018 | $786K | $873K | $514K | $658K | — | View 990 |
| 2017 | $762K | $833K | $493K | $527K | — | — |
| 2016 | $308K | $357K | $272K | $236K | — | View 990 |
| 2015 | $292K | $317K | $90K | $5K | — | View 990 |
| 2014 | $342K | $277K | $112K | $2K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $1.2M, expenses of $1.1M, and assets of $774K (revenue +3.6% year-over-year).
- 2022: Revenue of $1.2M, expenses of $924K, and assets of $769K (revenue +31.1% year-over-year).
- 2021: Revenue of $902K, expenses of $818K, and assets of $577K (revenue -5.6% year-over-year).
- 2020: Revenue of $955K, expenses of $892K, and assets of $543K (revenue -2.0% year-over-year).
- 2019: Revenue of $975K, expenses of $833K, and assets of $562K (revenue +24.0% year-over-year).
- 2018: Revenue of $786K, expenses of $873K, and assets of $514K (revenue +3.2% year-over-year).
- 2017: Revenue of $762K, expenses of $833K, and assets of $493K (revenue +147.1% year-over-year).
- 2016: Revenue of $308K, expenses of $357K, and assets of $272K (revenue +5.5% year-over-year).
- 2015: Revenue of $292K, expenses of $317K, and assets of $90K (revenue -14.4% year-over-year).
- 2014: Revenue of $342K, expenses of $277K, and assets of $112K.
Data Sources and Methodology
This transparency report for Towing Vessel Inspection Bureau 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.