Overview
What is Transpacific Yacht Club Co Jim Eddy Iii?
Transpacific Yacht Club Co Jim Eddy Iiii is a nonprofit organization situated in Costa Mesa, California. Primarily known for its role in promoting amateur sports, the club sponsors an annual yacht race that attracts participants from various parts. As an amateur sports club or league, it provides a platform for enthusiasts to engage in competitive sailing. The organization's activities are centered around this event, fostering camaraderie and promoting the spirit of competition among yachting enthusiasts.
Official website here: www.transpacificyc.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 56%, One-Star out of Four Star Rating
Transpacific Yacht Club Co Jim Eddy III has received a One-Star rating from Charity Navigator, indicating significant concerns regarding its accountability and financial practices. The score is entirely derived from a single beacon focused on Accountability & Finance. The lack of independent board members and missing key governance policies, such as a conflict of interest policy and a whistleblower policy, have heavily impacted its overall score.
Despite these governance issues, the organization shows promising financial management, with a remarkable program expense ratio of 94.50%. This suggests that the majority of its funds are directed towards its programs rather than administrative costs. Additionally, there are no material diversions of assets reported, which reflects positively on its financial integrity.
However, the absence of independent board members and several essential policies raises red flags about the organization's governance. The missing tax form on its website further contributes to concerns about transparency. Overall, while the charity demonstrates effective program funding, it needs to address its governance practices to improve its accountability rating.
This AI summary has been generated from information found on Charity Navigator.
Is Transpacific Yacht Club Co Jim Eddy Iii legitimate?
Transpacific Yacht Club Co Jim Eddy Iii is a legitimate nonprofit organization registered as a 501(c)(3) entity. Transpacific Yacht Club Co Jim Eddy Iii 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.transpacificyc.com
What is the mission statement of Transpacific Yacht Club Co Jim Eddy Iii?
Transpacific Yacht Club, as an amateur sports club or league, is primarily engaged in sponsoring yacht races for amateurs. Their mission lies in promoting and fostering the spirit of competitive sailing among its members and participants. The club supports and encourages the growth of amateur yacht racing, providing a platform for enthusiasts to showcase their skills and passion for the sport. By sponsoring these races, Transpacific Yacht Club contributes to the broader sailing community, offering opportunities for camaraderie, skill development, and fostering a love for the sport.
Official website here: www.transpacificyc.com
Who is the CEO of Transpacific Yacht Club Co Jim Eddy Iii?
Unavailable
Official website here: www.transpacificyc.com
What is the revenue of Transpacific Yacht Club Co Jim Eddy Iii?
Transpacific Yacht Club Co Jim Eddy Iii's revenue in 2022 was $84,135.
Official website here: www.transpacificyc.com
Who are the executives of Transpacific Yacht Club Co Jim Eddy Iii and what are their salaries?
Here are 3 key members and their salaries:
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.transpacificyc.com
Where can I find the form 990 for Transpacific Yacht Club Co Jim Eddy Iii?
Transpacific Yacht Club Co Jim Eddy Iii's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.transpacificyc.com
Learn more at the official website: www.transpacificyc.com
Mission Statement of Transpacific Yacht Club Co Jim Eddy Iii
Transpacific Yacht Club Co Jim Eddy III, as the name suggests, is primarily engaged in sponsoring an amateur yacht race. This prestigious organization operates under the umbrella of an amateur sports club or league, dedicated to promoting and fostering the spirit of competition in yacht racing. Its mission is to provide a platform for enthusiasts to participate in this nautical sport, encouraging camaraderie, sportsmanship, and a shared love for the sea. The Transpacific Yacht Club's activities are centered around organizing and supporting amateur yacht races, thereby contributing to the wider yachting community.
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Impact
October, 2024
Transpacific Yacht Club Co Jim Eddy III significantly influences the amateur sailing community by sponsoring a prominent yacht race in Costa Mesa, CA. By organizing this event, the club fosters a vibrant environment for sailors of all skill levels to compete and gain valuable experience on the water, promoting camaraderie and sportsmanship among participants. The race not only enhances the local recreational landscape but also attracts attention to the sport of sailing, encouraging more individuals to engage in maritime activities. Through its operational focus on amateur sailing, the Transpacific Yacht Club cultivates a sense of community and passion for the sport, making a lasting impact on both participants and spectators alike.
This information is meant to be a general summary of Transpacific Yacht Club Co Jim Eddy Iii. 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 2022.
- Investment Income: $5,914
- Program Service Revenue: $10,831
- Gross Receipts: $84,135
Assets and Liabilities:
- Total Assets: $593,117
- Total Liabilities: $250
- Net Assets: $592,867
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
RACE ENTRY FEES
Revenue
$10,831
Organization Details
Founding Year
1937
Main Address
2815 MONTEREY AVE, COSTA MESA, CA, 92626
Website
www.transpacificyc.comNTEE Category
Code: N70Z - Recreation
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