Seashellsyachtclub Inc NFP

Analysis

Seashellsyachtclub Inc NFP is a registered charity in United States, based in Chicago, IL. It received its IRS tax-exemption ruling in November 2022, 4 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, Seashellsyachtclub Inc NFP reported income of $62k and spending of $62k, spending 100% of its income. Across the 2 years on record, from December 2022 to December 2023, income grew from $25k to $62k (+142%), an average of +142% a year. The sharpest change came in the year to December 2023, when income rose by 142%. Over the whole period it spent 140% of the income it received.

Among 30,892 United States charities whose main cause is amateur sport and recreation and that reported income, Seashellsyachtclub Inc NFP sits at the 27th percentile: it is larger than about 27% of them. Against every charity in United States with reported income it ranks in the 24th percentile, and in the 26th percentile within IL. Charities of a similar size with the same main cause include San Diego Outrigger Canoe Club ($62k), Rolling Thunder Volleyball Club Inc ($62k) and Minnesota Baseball Club ($62k).

On its Form 990-EZ for the period ending December 2023, revenue came from contributions and grants 3.5% of the total. At year end it held assets of $312 against liabilities of $0, net assets of $312.