Overview
What is Chesapeake Bay Yacht Racing Assn Inc?
Chesapeake Bay Yacht Racing Assn Inc, located in Annapolis, Maryland, is a nonprofit organization that primarily focuses on promoting fair yachting competitions. They achieve this goal by supporting standard yacht racing measurement rules and coordinating racing schedules and Regattas within the Chesapeake Bay area. Their mission is to facilitate an educational and informative environment for sailing enthusiasts through the publication of relevant materials. This organization serves as a hub for sailors, providing them with valuable resources and opportunities to engage in their beloved activity.
Official website here: www.cbyra.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 36% (Zero-Star out of Four Star Rating)
The Chesapeake Bay Yacht Racing Association Inc has received a low rating of 36%, signifying a Zero-Star rating based on its accountability and financial practices. The score reflects significant concerns, particularly in areas crucial for transparency and governance, which are essential for donor trust.
While the organization has strengths such as a fully independent board, with 10 out of 10 members, and no material diversion of assets reported, it falls short in several critical governance policies. The absence of a conflict of interest policy, whistleblower policy, and document retention policy notably impacted its score negatively, indicating potential vulnerabilities in its operational transparency.
Additionally, the organization's financial metrics reveal further weaknesses, with a program expense ratio of only 19.64% and a liabilities to assets ratio of 27.58%. These figures suggest that a smaller portion of its expenses is directed towards its programs, raising questions about its operational effectiveness. Overall, the Chesapeake Bay Yacht Racing Association appears to need significant improvements in governance and financial management to enhance its credibility and effectiveness.
This AI summary has been generated from information found on Charity Navigator.
Is Chesapeake Bay Yacht Racing Assn Inc legitimate?
Chesapeake Bay Yacht Racing Assn Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Chesapeake Bay Yacht Racing Assn Inc submitted a form 990, 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
Official website here: www.cbyra.org
What is the mission statement of Chesapeake Bay Yacht Racing Assn Inc?
The Chesapeake Bay Yacht Racing Association's primary objective is to foster fair competition in yacht racing. They achieve this by advocating for standard measurement rules and coordinating racing schedules and Regattas in the Chesapeake Bay area. Their mission is also characterized by the publication of materials aimed at educating and instructing individuals in sailing and related topics.
Official website here: www.cbyra.org
What is the revenue of Chesapeake Bay Yacht Racing Assn Inc?
Chesapeake Bay Yacht Racing Assn Inc's revenue in 2023 was $58,466.
Official website here: www.cbyra.org
Who are the executives of Chesapeake Bay Yacht Racing Assn Inc and what are their salaries?
There 30 volunteers at Chesapeake Bay Yacht Racing Assn Inc.
Here are 4 key members and their salaries:
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- Other: $0
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- Other: $0
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- Other: $0
Official website here: www.cbyra.org
Where can I find the form 990 for Chesapeake Bay Yacht Racing Assn Inc?
Chesapeake Bay Yacht Racing Assn Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.cbyra.org
Learn more at the official website: www.cbyra.org
Mission Statement of Chesapeake Bay Yacht Racing Assn Inc
Chesapeake Bay Yacht Racing Association, Inc., is dedicated to fostering fair competition in yacht racing within the Chesapeake Bay area. This nonprofit organization achieves this goal by advocating for standardized yacht measurement rules and coordinating racing schedules and Regattas. By doing so, it ensures a level playing field for all participants, promoting a spirit of sportsmanship and camaraderie within the yachting community. In addition to its competitive focus, the association also provides informative publications on sailing and related topics, aiming to educate and instruct individuals interested in the sport.
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Impact
August, 2024
Chesapeake Bay Yacht Racing Association Inc plays a crucial role in promoting fair yachting competition and supporting standard yacht racing measurement rules. By coordinating racing schedules and regattas in the Chesapeake Bay area, the organization fosters a competitive and inclusive environment for yachting enthusiasts. Through publications focusing on sailing and related topics, the association also contributes to the education and instruction of individuals interested in the sport. Overall, Chesapeake Bay Yacht Racing Association Inc's impact is significant in cultivating a vibrant yachting community and advancing the sport's standards and practices.
This information is meant to be a general summary of Chesapeake Bay Yacht Racing Assn 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.
- Program Service Revenue: $8,645
- Gross Receipts: $58,466
Assets and Liabilities:
- Total Assets: $49,635
- Total Liabilities: $13,691
- Net Assets: $35,944
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PUBLICATIONS
Revenue
$5,775
RACING EVENTS
Revenue
$1,920
SAIL NUMBERS
Revenue
$950
Organization Details
Founding Year
1914
Principal Officer
Jon Anthony
Website
www.cbyra.orgNTEE Category
Code: N20Z - Recreation
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