Grosse Pointe Yacht Club Foundation

Analysis

Grosse Pointe Yacht Club Foundation is a registered charity in United States, based in St CLR Shores, MI. It received its IRS tax-exemption ruling in February 2016, 10 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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 December 2023, Grosse Pointe Yacht Club Foundation reported income of $84k and spending of $142k, spending 169% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $374k to $84k (-78%), an average of -31% a year. The sharpest change came in the year to December 2022, when income dropped by 65%. Over the whole period it spent 135% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Grosse Pointe Yacht Club Foundation sits at the 36th percentile: it is larger than about 36% of them. Against every charity in United States with reported income it ranks in the 32nd percentile, and in the 32nd percentile within MI. Charities of a similar size with the same main cause include Bengali Cultural Society ($84k), Mosaic Harmony ($84k) and Art Center of Northern New Jersey ($84k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 97% of the total. At year end it held assets of $521k against liabilities of $0, net assets of $521k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.