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Northeast Harbor Fleet FY2022 filing

Not tax-deductible

Ne Harbor, ME501(c)(7)EIN 01-0198980Revenue $492K in FY2022

On file with the IRSnehfleet.org48 S Shore Rd, 04662-6314 · Ne Harbor, METax-exempt since Mar 1954

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Yacht club for the promotion of yachting as an amateur sport at Northeast Harbor in the town of mt. Desert, maine and it's vicinity.

Mission: Form 990 Part I, line 1

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FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $519K a year · 62% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $1K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$24K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$492K
+23% vs prior year
Spent
$393K
To programs
0%
Net assets
$1.0M
By yearFY2020–FY2024
Revenue
$492K
FY2022▲ +23%
Tap a bar for its year
Revenue by fiscal year
FY2020$347K
FY2021$399K
FY2022$492K
FY2023$509K
FY2024$2.4M
Expenses
$393K
FY2022▲ +37%
Tap a bar for its year
Expenses by fiscal year
FY2020$284K
FY2021$286K
FY2022$393K
FY2023$335K
FY2024$286K
Net assets
$1.0M
FY2022▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$787K
FY2021$989K
FY2022$1.0M
FY2023$1.3M
FY2024$3.6M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1954.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation
Mia Thompson
Commodore
$0Pt VII · Sec A
$0Pt VII · Sec A
John Henry
Vice Commodo
$0Pt VII · Sec A
Peter Ill
Rear Commodo
$0Pt VII · Sec A
$0Pt VII · Sec A
See Northeast Harbor Fleet executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes amateur yachting at Northeast Harbor and surrounding areas.

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Provided by the organization

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3 programs · in their own filed words · FY2022
01

Provides grounds, facilities and support for the northeast harbor sailing school, and promotes sailing through educational seminars for area sailors.

Pt IX · col B
02

Conducts racing for several one-design classes and a crusising class. Hosts major regional and world sailing championships and their participants.

Pt IX · col B
03

Providing a base of operations, including docks, floats, moorings and launches for the use of watercraft.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Tuckerman FoundationFY2024$1K
Total grants receivedfrom 1 funder$1K
Grants paid · 1 grant · $33K · 2024–2024
Northeast Harbor Sailing SchoolME · FY2024$33,370

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$492K
Ln 12
Gifts and grantsLn 1h$428K
Fees for servicesLn 2g$59K
Investment incomeLn 3$5K
Money outPt IX
$393K
Ln 25
Owns and owesPt X
$1.0M
net assets · Ln 32
Cash and savingsLn 1–2$32K
Total assetsLn 16$1.0M
LiabilitiesLn 26$24K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$428K
Fees for servicesLn 2g$59K
Investment incomeLn 3$5K
Total revenueLn 12$492K
Assets in detailPt X, end of year
CashLn 1$32K
Cash and savings togetherLn 1–2$32K
InvestmentsLn 11–13$766K
Land, buildings, equipmentLn 10c$137K
Total assetsLn 16$1.0M
LiabilitiesLn 26$24K
Net assetsLn 32$1.0M
OperationsPt I, VI
EmployeesI 510
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$175K$32K
InvestmentsLn 11–13$609K$766K
Land, buildings, equipmentLn 10c$146K$137K
Total assetsLn 16$996K$1.0M
LiabilitiesLn 26$7K$24K
Net assetsLn 32$989K$1.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$107K
Other employee benefitsLn 9$12K
Payroll taxesLn 10$10K
Accounting feesLn 11c$25K
Other fees for servicesLn 11g$61K
Office expensesLn 13$11K
OccupancyLn 16$62K
Depreciation, depletion and amortizationLn 22$21K
InsuranceLn 23$11K
Other expenses (24a–d)Ln 24$73K
All other expensesLn 24e$934
Total functional expensesLn 25$393K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $2.4M$286K$2.1M$3.6M 990 PDF
FY2023 $509K$335K$174K$1.3M 990 PDF
FY2022 Viewing $492K$393K$99K$1.0M 990 PDF
FY2021 $399K$286K$113K$989K 990 PDF
FY2020 $347K$284K$63K$787K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $491,613 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $376,031$427,703
I-9 Program service revenuePrior year $20,802$59,119
I-10 Investment incomePrior year $2,473$4,791
I-11 Other revenue$0
I-12 Total revenuePrior year $399,306$491,613
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $127,924$128,417
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $158,338$264,674
I-18 Total expensesPrior year $286,262$393,091
I-19 Revenue less expensesPrior year $113,044$98,522
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $491,613 across 6 lines filed
VIII-1b Membership dues$425,678
VIII-1f All other contributions, gifts and grants$2,025
VIII-1h Total contributions, gifts and grants$427,703
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Excluded from tax $59,119$59,119
VIII-3 Investment incomeUnrelated business $4,791$4,791
VIII-12 Total revenueUnrelated business $4,791 · Excluded from tax $59,119$491,613
Part IX · Statement of functional expenses $393,091 across 11 lines filed
IX-7 Other salaries and wages$106,653
IX-9 Other employee benefits$12,171
IX-10 Payroll taxes$9,593
IX-11c Accounting fees$24,773
IX-11g Other fees for services$61,263
IX-13 Office expenses$11,221
IX-16 Occupancy$62,344
IX-22 Depreciation, depletion and amortization$20,532
IX-23 Insurance$10,600
IX-24 Other expenses (24a–d)$73,007
IX-24e All other expenses$934
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$393,091
Part X · Balance sheet $1,024,736 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $175,371$31,913
X-4 Accounts receivableStart of year $60,965$51,220
X-9 Prepaid expenses and deferred chargesStart of year $5,084$39,036
X-10c Land, buildings and equipment, netStart of year $145,975$136,609
X-11 Publicly traded securitiesStart of year $221,476$370,293
X-12 Other securitiesStart of year $387,075$395,665
X-16 Total assetsStart of year $995,946$1,024,736
X-17 Accounts payable and accrued expensesStart of year $6,606$23,215
X-25 Other liabilities$915
X-26 Total liabilitiesStart of year $6,606$24,130
X-27 Net assets without donor restrictionsStart of year $989,340$1,000,606
X-32 Total net assets or fund balancesStart of year $989,340$1,000,606
X-33 Total liabilities and net assetsStart of year $995,946$1,024,736
Part XI · Reconciliation of net assets $1,000,606 net assets at year end
XI-1 Total revenue$491,613
XI-2 Total expenses$393,091
XI-3 Revenue less expenses$98,522
XI-4 Net assets at start of year$989,340
XI-5 Net unrealized gains (losses) on investments−$87,256
XI-10 Net assets at end of year$1,000,606

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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