Bradenton Yacht Club Inc

Nonprofit profile at a glance

EIN
590595395
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Palmetto, FL, USA
Phone
9417225936
Rating confidence
Limited

Official website

Reported finances

Revenue
$5,264,249
Expenses
$4,844,457
Assets
$5,766,543
Liabilities
$1,187,981

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

Leadership & pay

18 people listed

Highest reported compensation

  • George Gordon (General Manager): $186,559 total reported compensation
  • Alice McCann (Controller): $135,959 total reported compensation
  • Howie Stein (Commodore): $2,448 total reported compensation

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

Overview

Mission

The Bradenton Yacht Club is a member-owed, private yacht club which serves its member families by providing boating, recreation and social activities, and maintains an extensive club campus and marina for the membership to enjoy club activities and to connect with other members who are inclined to the boating lifestyle. In addition, BYC reaches out to the broader, non-member boating communities by sponsoring youth sailing, fishing tournaments, regattas and boat parades. BYC is also a founding member of the Florida Council of Yacht Clubs which provides reciprocity between our club and the other member-owned yacht clubs in the FCYC.

What it reported doing in 2024

Restaurant and Bar - the Bradenton Yacht Club provides dining and bar facilities to its members for regular use.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating 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

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 76
  • Accountability: 100
  • Sustainability: 50
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • 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; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8%; rating input score 58; 58th percentile among comparable filings
  • Total-asset coverage ratio: 1.19; rating input score 43; 43rd percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 43; 43rd percentile among comparable filings
  • Officer compensation ratio: 6.7%; rating input score 43; 43rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.3% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 4.1% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 16 of 16 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $4.8M in reported program spending
  • Leadership: top reported pay $187K · 18 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 12 of 12 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Review — Sustainability: Operating margin scored 58/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 43/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 43/100.
  • Moderate — Sustainability: Officer compensation ratio scored 43/100.