Westerly Yacht Club
EIN: 50247709 · Westerly, RI · NTEE: N50
| Metric | Value |
|---|---|
| Total Revenue | $2.8M |
| Total Expenses | $1.8M |
| Net Assets | $3.1M |
Is Westerly Yacht Club Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Westerly Yacht Club
Westerly Yacht Club (EIN: 50247709) is a nonprofit organization based in Westerly, RI, classified under NTEE code N50. The organization reported total revenue of $2.8M and total assets of $4.5M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Westerly Yacht Club's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Westerly Yacht Club is a mid-size nonprofit that has been operating for 70 years, with 12 years of IRS 990 filings on record (2013–2024). Revenue has grown at a compound annual rate of 6.0%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $1.8M |
| Total Expenses | $1.8M |
| Surplus / Deficit | $-1,153 |
| Total Assets | $4.7M |
| Total Liabilities | $1.6M |
| Net Assets | $3.1M |
| Operating Margin | -0.1% |
| Debt-to-Asset Ratio | 35.0% |
| Months of Reserves | 31.4 months |
Financial Health Grade: B
In 2024, Westerly Yacht Club reported a deficit of $1K with expenses exceeding revenue, holds 31.4 months of operating reserves (strong position), has a debt-to-asset ratio of 35.0% (moderate leverage).
Financial Trends
Over 12 years of filings (2013–2024), Westerly Yacht Club's revenue has grown at a compound annual growth rate (CAGR) of 6.0%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +27.2% | +33.3% | -4.5% |
| 2023 | +7.7% | +4.0% | -2.6% |
| 2022 | +20.9% | +25.4% | +0.5% |
| 2021 | -12.8% | -2.1% | -1.8% |
| 2020 | +4.1% | -2.9% | +54.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1956 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Westerly Yacht Club 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 Westerly Yacht Club 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 (2024)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $1K, with expenses exceeding revenue.
- Debt-to-asset ratio: 35.0%.
Frequently Asked Questions about Westerly Yacht Club
Is Westerly Yacht Club a legitimate charity?
Westerly Yacht Club (EIN: 50247709) is a registered tax-exempt nonprofit based in Rhode Island. It has 12 years of IRS 990 filings on record. Total revenue: $2.8M. No red flags identified. Financial health grade: B.
How does Westerly Yacht Club spend its money?
Westerly Yacht Club reported $2.8M in total revenue in IRS 990 filings. 12 years of filing data available. Expenses exceeded revenue in the most recent year. Review the full spending breakdown on NonprofitSpending.
Are donations to Westerly Yacht Club tax-deductible?
Westerly Yacht Club is registered as a tax-exempt nonprofit (EIN: 50247709). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Westerly Yacht Club located?
Westerly Yacht Club is headquartered in Westerly, Rhode Island and files with the IRS under EIN 50247709. It is classified under NTEE code N50.
How many years of IRS 990 filings does Westerly Yacht Club have?
Westerly Yacht Club has 12 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 $2.8M in total revenue.
Filing History
IRS 990 filing history for Westerly Yacht Club showing financial trends over 12 years of public records:
Over 12 years of IRS 990 filings (2013–2024), Westerly Yacht Club's revenue has grown by 89.1%, moving from $950K to $1.8M. Total assets increased by 45.2% over the same period, from $3.2M to $4.7M. Total functional expenses rose by 110.4%, from $855K to $1.8M. In its most recent filing year (2024), Westerly Yacht Club reported a deficit of $1K, with expenses exceeding revenue. The organization holds $1.6M in liabilities against $4.7M in assets (debt-to-asset ratio: 35.0%), resulting in net assets of $3.1M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $1.8M | $1.8M | $4.7M | $1.6M | — | — |
| 2023 | $1.4M | $1.3M | $4.9M | $1.7M | — | — |
| 2022 | $1.3M | $1.3M | $5.1M | $1.9M | — | View 990 |
| 2021 | $1.1M | $1.0M | $5.0M | $1.9M | — | — |
| 2020 | $1.2M | $1.1M | $5.1M | $2.1M | — | View 990 |
| 2019 | $1.2M | $1.1M | $3.3M | $459K | — | View 990 |
| 2018 | $1.2M | $982K | $3.3M | $530K | — | View 990 |
| 2017 | $1.1M | $1.0M | $3.2M | $682K | — | View 990 |
| 2016 | $1.1M | $982K | $3.2M | $797K | — | View 990 |
| 2015 | $1.0M | $920K | $3.2M | $888K | — | View 990 |
| 2014 | $999K | $928K | $3.2M | $976K | — | View 990 |
| 2013 | $950K | $855K | $3.2M | $1.1M | — | — |
Year-by-Year Financial Summary
- 2024: Revenue of $1.8M, expenses of $1.8M, and assets of $4.7M (revenue +27.2% year-over-year).
- 2023: Revenue of $1.4M, expenses of $1.3M, and assets of $4.9M (revenue +7.7% year-over-year).
- 2022: Revenue of $1.3M, expenses of $1.3M, and assets of $5.1M (revenue +20.9% year-over-year).
- 2021: Revenue of $1.1M, expenses of $1.0M, and assets of $5.0M (revenue -12.8% year-over-year).
- 2020: Revenue of $1.2M, expenses of $1.1M, and assets of $5.1M (revenue +4.1% year-over-year).
- 2019: Revenue of $1.2M, expenses of $1.1M, and assets of $3.3M (revenue +0.2% year-over-year).
- 2018: Revenue of $1.2M, expenses of $982K, and assets of $3.3M (revenue +6.3% year-over-year).
- 2017: Revenue of $1.1M, expenses of $1.0M, and assets of $3.2M (revenue +4.3% year-over-year).
- 2016: Revenue of $1.1M, expenses of $982K, and assets of $3.2M (revenue +2.6% year-over-year).
- 2015: Revenue of $1.0M, expenses of $920K, and assets of $3.2M (revenue +4.9% year-over-year).
- 2014: Revenue of $999K, expenses of $928K, and assets of $3.2M (revenue +5.1% year-over-year).
- 2013: Revenue of $950K, expenses of $855K, and assets of $3.2M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Westerly Yacht Club:
Data Sources and Methodology
This transparency report for Westerly Yacht 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.