Overview
What is New Bedford Yacht Club Foundation Inc?
New Bedford Yacht Club Foundation Inc is a nonprofit organization dedicated to fostering and nurturing sailing activities in the town of Dartmouth. Their primary objective is to establish, manage, and supervise a sailing school, promoting both the sport and its educational aspects. Additionally, they are engaged in developing and facilitating various instructional and educational programs related to sailing. The foundation's mission extends beyond sailing, aiming to stimulate and enhance related activities in the community.
What are the reviews and ratings of this charity?
Charity Navigator Rating: 87% (Three-Star out of Four Star Rating)
The New Bedford Yacht Club Foundation Inc has received an 87% rating from Charity Navigator, earning it a Three-Star designation. This score reflects a strong emphasis on accountability and finance, indicating that the organization is effectively managing its resources and maintaining transparency in its operations. The overall score is derived entirely from the Accountability & Finance beacon, showcasing the foundation's commitment to responsible financial practices.
One of the significant strengths of the foundation is its governance structure, with a fully independent board consisting of 11 members, which received top marks. Other positive indicators include a high program expense ratio of 97.68%, showing that the majority of funds are directed towards its mission-related activities. The organization also demonstrates sound risk management practices, with no material diversion of assets noted and a well-established conflict of interest policy.
Despite its strengths, the rating does not encompass aspects such as program effectiveness or donor reviews, which could provide a more comprehensive view of the foundation's impact. Potential donors may wish to seek additional information regarding the foundation's specific programs and outcomes to better understand its contributions to the community. Overall, the New Bedford Yacht Club Foundation Inc appears to be a financially sound nonprofit focused on accountability.
This AI summary has been generated from information found on Charity Navigator.
Is New Bedford Yacht Club Foundation Inc legitimate?
New Bedford Yacht Club Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. New Bedford Yacht Club Foundation Inc submitted a form 990EZ, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $0
For more financial information, click here
What is the mission statement of New Bedford Yacht Club Foundation Inc?
The New Bedford Yacht Club Foundation Inc's mission is to foster, encourage, and manage a sailing school. They are committed to promoting and advancing sailing activities. Moreover, the foundation is dedicated to creating and implementing educational programs and initiatives related to sailing. These endeavors aim to benefit the town's community, although the specific location is not provided in the information.
What is the revenue of New Bedford Yacht Club Foundation Inc?
New Bedford Yacht Club Foundation Inc's revenue in 2023 was $237,876.
Who are the executives of New Bedford Yacht Club Foundation Inc and what are their salaries?
There 11 volunteers at New Bedford Yacht Club Foundation Inc.
Here are 11 key members and their salaries:
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Where can I find the form 990 for New Bedford Yacht Club Foundation Inc?
New Bedford Yacht Club Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Mission Statement of New Bedford Yacht Club Foundation Inc
The New Bedford Yacht Club Foundation Inc is committed to fostering the growth and advancement of sailing activities. Their primary mission involves overseeing and maintaining a sailing school, promoting sailing as a recreational and competitive activity, and offering instructional and educational programs related to sailing. The organization's objectives extend beyond just sailing, as they also engage in developing and implementing programs that are educational in nature, all with the aim of promoting sailing in their community.
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Impact
August, 2024
The New Bedford Yacht Club Foundation Inc has a significant impact on promoting, developing, and maintaining sailing activities in the town of Dartmouth. Through their sailing school, they provide instructional and educational programs related to sailing, fostering a love for the sport and an appreciation for the maritime environment. Their dedication to promoting sailing activities helps create a vibrant community centered around water sports and outdoor recreation.
This information is meant to be a general summary of New Bedford Yacht Club Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $125
- Program Service Revenue: $200,362
- Gross Receipts: $251,681
Assets and Liabilities:
- Total Assets: $225,274
- Total Liabilities: $0
- Net Assets: $225,274
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SAILING SCHOOL
Revenue
$200,152
APPAREL SALES
Revenue
$210
Organization Details
Principal Officer
Donald Watson
NTEE Category
Code: Z99 - Unknown
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