Barnegat Bay Yacht Racing Assoc

Analysis

Barnegat Bay Yacht Racing Assoc is a registered charity in United States, based in Toms River, NJ. It received its IRS tax-exemption ruling in February 1992, 34 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Barnegat Bay Yacht Racing Assoc reported income of $162k and spending of $146k, spending 90% of its income. Across the 5 years on record, from September 2019 to September 2023, income fell from $410k to $162k (-60%), an average of -21% a year. The sharpest change came in the year to September 2021, when income rose by 124%. Over the whole period it spent 80% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Barnegat Bay Yacht Racing Assoc sits at the 48th percentile: it is larger than about 48% of them. Against every charity in United States with reported income it ranks in the 49th percentile, and in the 56th percentile within NJ. Charities of a similar size with the same main cause include Society of American Military Engineers ($162k), Smith Point Volunteer Fire Department and Emergency Corps ($162k) and The Bridge - a Center for Hope and Healing ($162k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 66% and program service revenue 32% of the total. At year end it held assets of $410k against liabilities of $0, net assets of $410k.