Chesapeake Bay Yacht Racing Association Inc

Analysis

Chesapeake Bay Yacht Racing Association Inc is a registered charity in United States, based in Annapolis, MD. It received its IRS tax-exemption ruling in October 1985, 41 years ago. Its declared purposes cover recreation and sports, which this site groups under amateur sport and recreation. 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, Chesapeake Bay Yacht Racing Association Inc reported income of $58k and spending of $69k, spending 119% of what it took in. Across the 4 years on record, from December 2019 to December 2023, income grew from $34k to $58k (+73%), an average of +20% a year. The sharpest change came in the year to December 2022, when income rose by 37%. Over the whole period it spent 100% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Chesapeake Bay Yacht Racing Association Inc sits at the 25th percentile: it is larger than about 25% of them. Against every charity in United States with reported income it ranks in the 23rd percentile, and in the 25th percentile within MD. Charities of a similar size with the same main cause include Granite Bay Youth Lacrosse Inc ($58k), Hanover Junior Wildcats Inc ($58k) and Bootheel Youth Camp Inc ($58k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 85% and program service revenue 15% of the total. At year end it held assets of $38k against liabilities of $13k, net assets of $24k.