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Morehead City Yacht Basin Association

Organization summary

Type of Nonprofit

Designated as a Social and recreational clubs.

Category: Recreation, Sports, Leisure, Athletics / Recreational, Pleasure, or Social Club (NTEE)

Donations to this organization are not tax deductible.

Details

According to its June 2024 tax filing, this nonprofit:

Reported conflict of interest transactions
Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Summary charts: organization finances over time

Revenue
$242k (2024)

Expenses
$217k (2024)

Total Assets
$508k (2024)

Total Liabilities
$234k (2024)

Source: Form 990 tax filings from 2016 to 2024

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2024

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$241,922
Expenses
$217,317
Net Income
$24,605
Net Assets
$274,324
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $233,949
96.7%
Investment Income $7,591
3.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $382
0.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $508,273
Total Liabilities $233,949
Net Assets $274,324
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Thomas E Matthews Jr (Director) $0 $0 $0
Cheryl Sherwood (Sec/Treasurer) $0 $0 $0
Ken Snow (Director) $0 $0 $0
Joe Smith (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$217,983
Expenses
$212,911
Net Income
$5,072
Net Assets
$249,719
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $216,619
99.4%
Investment Income $1,178
0.5%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $186
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $483,886
Total Liabilities $234,167
Net Assets $249,719
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Compensation
Key Employees and Officers Compensation Related Other
Thomas E Matthews Jr (Director) $0 $0 $0
Cheryl Bomar (Sec/Treasurer) $0 $0 $0
Ken Snow (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$217,111
Expenses
$199,219
Net Income
$17,892
Net Assets
$244,647
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $216,619
99.8%
Investment Income $492
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $461,266
Total Liabilities $216,619
Net Assets $244,647
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Compensation
Key Employees and Officers Compensation Related Other
Thomas E Matthews Jr (Director) $0 $0 $0
Cheryl Bomar (Sec/Treasurer) $0 $0 $0
Ken Snow (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$217,878
Expenses
$200,474
Net Income
$17,404
Net Assets
$226,755
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $216,619
99.4%
Investment Income $1,259
0.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $443,374
Total Liabilities $216,619
Net Assets $226,755
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Compensation
Key Employees and Officers Compensation Related Other
Thomas E Matthews Jr (Director) $0 $0 $0
Cheryl Bomar (Sec/Treasurer) $0 $0 $0
Ken Snow (Director) $0 $0 $0

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$220,226
Expenses
$204,746
Net Income
$15,480
Net Assets
$209,351
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $216,619
98.4%
Investment Income $3,607
1.6%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $425,970
Total Liabilities $216,619
Net Assets $209,351
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Compensation
Key Employees and Officers Compensation Related Other
Thomas E Matthews Jr (Director) $0 $0 $0
James L Holmes (Director) $0 $0 $0
Cheryl Bomar (Sec/Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$218,353
Expenses
$196,286
Net Income
$22,067
Net Assets
$193,871
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $216,619
99.2%
Investment Income $1,734
0.8%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $410,490
Total Liabilities $216,619
Net Assets $193,871
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$217,242
Expenses
$204,018
Net Income
$13,224
Net Assets
$171,804
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $216,618
99.7%
Investment Income $421
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $203
0.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $388,423
Total Liabilities $216,619
Net Assets $171,804
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Compensation
Key Employees and Officers Compensation Related Other
Thomas E Matthews Jr (Director) $0 $0 $0
James L Holmes (Director) $0 $0 $0
Kenneth C Snow (Director) $0 $0 $0
Cheryl Bomar (Sec/Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$217,277
Expenses
$220,626
Net Income
-$3,349
Net Assets
$158,580
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $216,666
99.7%
Investment Income $611
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $375,199
Total Liabilities $216,619
Net Assets $158,580
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Compensation
Key Employees and Officers Compensation Related Other
Thomas E Matthews Jr (Director) $0 $0 $0
James L Holmes (Director) $0 $0 $0
Kenneth C Snow (Director) $0 $0 $0
Cheryl Bomar (Sec/Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$90,598
Expenses
$101,082
Net Income
-$10,484
Net Assets
$161,929
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $90,258
99.6%
Investment Income $340
0.4%
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $378,548
Total Liabilities $216,619
Net Assets $161,929
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Compensation
Key Employees and Officers Compensation Related Other
Thomas E Matthews Jr (Director) $0 $0 $0
James L Holmes (Director) $0 $0 $0
Kenneth C Snow (Director) $0 $0 $0
Cheryl Bomar (Sec/Treasurer) $0 $0 $0

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

Which Organizations Are Here?

Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
  • Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
  • Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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