Nereid Boat Club

Analysis

Nereid Boat Club is a registered charity in United States, based in Rutherford, NJ. It received its IRS tax-exemption ruling in December 2007, 19 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 (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Nereid Boat Club reported income of $769k and spending of $704k, spending 92% of its income. Across the 5 years on record, from December 2019 to December 2023, income grew from $273k to $769k (+182%), an average of +30% a year. The sharpest change came in the year to December 2021, when income rose by 126%. Over the whole period it spent 90% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Nereid Boat Club sits at the 90th percentile: it is larger than about 90% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 80th percentile within NJ. Charities of a similar size with the same main cause include Maui United Soccer Club ($768k), Arizona Storm Fast Pitch Softball Inc ($769k) and Ellicott City Soccer Club Inc ($768k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 22% and program service revenue 76% of the total. Compensation of current officers, directors and key employees was $1,925 (0.3% of expenses). Other salaries and wages came to $243k. At year end it held assets of $1.3m against liabilities of $381k, net assets of $956k. It reported 13 employees.