Apostle Islands Yacht Club Inc

Nonprofit profile at a glance

EIN
237222426
IRS 990 coverage
2021–2024
Forms available
Form 990 2024, Form 990-EZ 2020
Location
Washburn, WI, USA
Phone
6512534851
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$87,989
Expenses
$73,425
Assets
$602,655
Liabilities
$28

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

8 people listed

People named in this filing

  • Jill Carey (Past Commadore)
  • Leann Taylor (Commadore)
  • Amy Fredrick (Social)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

501c-7 Member driven organization dedicated to promoting sailing and racing on Lake Superior.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Some filing-based governance responses are negative or unanswered and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 82
  • Accountability: 64
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 60.5%; rating input score 61
  • Program expense ratio: 72.6%; rating input score 73
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 18th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 16.6%; rating input score 70; 70th percentile among comparable filings
  • Total-asset coverage ratio: 8.21; rating input score 59; 59th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 23.3% per year; rating input score 100; 87th percentile among comparable filings
  • Revenue growth: 2.9% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 60.5% of revenue deployed · 72.6% of spending went to programs
  • Governance: 8 of 8 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $53K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 17 of 18 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2021 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Sustainability: Total-asset coverage ratio scored 59/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.