Triangle Rowing Club
Triangle Rowing Club shows consistent revenue growth and strong financial health with no officer compensation.
EIN: 202416149 · Cary, NC · NTEE: N67 · Updated: 2026-03-28
Is Triangle Rowing Club Legit?
Appears Legitimate
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Triangle Rowing Club directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Triangle Rowing Club
Triangle Rowing Club (EIN: 202416149) is a nonprofit organization based in Cary, NC, classified under NTEE code N67. The organization reported total revenue of $553K and total assets of $272K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Triangle Rowing Club's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Triangle Rowing Club is a small nonprofit that has been operating for 18 years, with 8 years of IRS 990 filings on record (2016–2023). Revenue has grown at a compound annual rate of 12.0%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $448K |
| Total Expenses | $415K |
| Surplus / Deficit | +$34K |
| Total Assets | $269K |
| Total Liabilities | $9K |
| Net Assets | $260K |
| Operating Margin | 7.5% |
| Debt-to-Asset Ratio | 3.3% |
| Months of Reserves | 7.8 months |
Financial Health Grade: A
In 2023, Triangle Rowing Club reported a surplus of $34K with revenue exceeding expenses, holds 7.8 months of operating reserves (strong position), has a debt-to-asset ratio of 3.3% (very low leverage).
Financial Trends
Over 8 years of filings (2016–2023), Triangle Rowing Club's revenue has grown at a compound annual growth rate (CAGR) of 12.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +30.6% | +36.0% | +14.5% |
| 2022 | -8.9% | -5.7% | -33.8% |
| 2021 | +38.8% | +21.9% | +9.9% |
| 2020 | -22.5% | -17.8% | +10.6% |
| 2019 | +3.5% | +17.9% | -1.4% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2008 |
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 Triangle Rowing Club with a Mission Score of 95 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: 10%
- programs: 90%
- fundraising: 0%
According to IRS 990 filings, Triangle Rowing Club allocates its expenses as follows: admin: 10%, programs: 90%, fundraising: 0%. 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 surplus of $34K, with revenue exceeding expenses.
- Debt-to-asset ratio: 3.3%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that no officers receive salaries from the organization. This is highly commendable for an organization of its size, with revenues reaching $448,401 in 2023, as it maximizes the allocation of funds directly to its programs.
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.
Strengths
The following positive indicators were identified for Triangle Rowing Club:
- Consistent revenue growth, from $203,406 in 2016 to $448,401 in 2023.
- 0% officer compensation reported across all filings, indicating high efficiency.
- Healthy asset growth and low liabilities, demonstrating strong financial stability (Assets $268,819 vs. Liabilities $8,975 in 2023).
- Consistent positive net income (revenue exceeding expenses) in most years, such as $448,401 revenue vs. $414,859 expenses in 2023.
Frequently Asked Questions about Triangle Rowing Club
Is Triangle Rowing Club a legitimate charity?
Based on AI analysis of IRS 990 filings, Triangle Rowing Club (EIN: 202416149) appears legitimate. Mission Score: 95/100. 0 red flags identified, 4 strengths noted.
How does Triangle Rowing Club spend its money?
Triangle Rowing Club directs 90% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Triangle Rowing Club tax-deductible?
Triangle Rowing Club is registered as a tax-exempt nonprofit (EIN: 202416149). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is Triangle Rowing Club a good charity?
Based on its IRS 990 data, Triangle Rowing Club appears to be a very good charity. It demonstrates strong financial health, consistent revenue growth, and a remarkable commitment to its mission by reporting 0% officer compensation across all filings, ensuring funds are directed to programs.
How has Triangle Rowing Club's revenue changed over time?
Triangle Rowing Club has shown significant revenue growth, increasing from $203,406 in 2016 to $448,401 in 2023, indicating a positive trend in financial support and operations.
What is the organization's approach to executive compensation?
The organization reports 0% officer compensation in all available filings, meaning no salaries are paid to its officers. This is a strong indicator of financial efficiency and a focus on program spending.
Filing History
IRS 990 filing history for Triangle Rowing Club showing financial trends over 8 years of public records:
Over 8 years of IRS 990 filings (2016–2023), Triangle Rowing Club's revenue has grown by 120.4%, moving from $203K to $448K. Total assets increased by 63.7% over the same period, from $164K to $269K. Total functional expenses rose by 92.3%, from $216K to $415K. In its most recent filing year (2023), Triangle Rowing Club reported a surplus of $34K, with revenue exceeding expenses. The organization holds $9K in liabilities against $269K in assets (debt-to-asset ratio: 3.3%), resulting in net assets of $260K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $448K | $415K | $269K | $9K | — | View 990 |
| 2022 | $343K | $305K | $235K | $8K | — | View 990 |
| 2021 | $377K | $324K | $354K | $3K | — | View 990 |
| 2020 | $272K | $266K | $322K | $25K | — | View 990 |
| 2019 | $350K | $323K | $292K | $0 | — | View 990 |
| 2018 | $339K | $274K | $296K | $32K | — | View 990 |
| 2017 | $294K | $230K | $218K | $19K | — | View 990 |
| 2016 | $203K | $216K | $164K | $34K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $448K, expenses of $415K, and assets of $269K (revenue +30.6% year-over-year).
- 2022: Revenue of $343K, expenses of $305K, and assets of $235K (revenue -8.9% year-over-year).
- 2021: Revenue of $377K, expenses of $324K, and assets of $354K (revenue +38.8% year-over-year).
- 2020: Revenue of $272K, expenses of $266K, and assets of $322K (revenue -22.5% year-over-year).
- 2019: Revenue of $350K, expenses of $323K, and assets of $292K (revenue +3.5% year-over-year).
- 2018: Revenue of $339K, expenses of $274K, and assets of $296K (revenue +15.0% year-over-year).
- 2017: Revenue of $294K, expenses of $230K, and assets of $218K (revenue +44.8% year-over-year).
- 2016: Revenue of $203K, expenses of $216K, and assets of $164K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Triangle Rowing Club:
Data Sources and Methodology
This transparency report for Triangle Rowing Club 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.