Columbia Yacht Club

Nonprofit profile at a glance

EIN
360935520
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Chicago, IL, USA
Phone
3129383625
Rating confidence
Limited

Official website

Reported finances

Revenue
$3,581,474
Expenses
$3,799,568
Assets
$5,053,343
Liabilities
$1,901,303

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

Leadership & pay

17 people listed

Highest reported compensation

  • NICK PHILP (GENERAL MANAGER): $117,609 total reported compensation
  • THOMAS TRULIS (CONTROLLER): $104,932 total reported compensation

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

Overview

Mission

To promote the sport of yachting; the sciences of seamanship, navigation and yacht design, maintain a suitable club quarters for the entertainment and convenience of members.

What it reported doing in 2024

Membership services: the objective of columbia yacht club (cyc) is to provide club quarters for the convenience, entertainment, and continuing education of its yachting enthusiast members. The club offers dining facilities, bar, banquet rooms, boat dockage, locker rooms, and equipment storage for its members. As of 12/31/24, cyc had 787 total members, a net decrease of 42 members from the prior year. The membership ranges in age from junior sailors (under 21 years of age) to honorary life (over 65). Approximately one third of the membership owns a boat, either sail or power, but all enjoy on the water activities or taking part in the many social activities held within the club each month. Columbia yacht club is open february through december, tuesdays through sundays during the week. The "in-season" period from may to october is when the majority of the membership is active in the club. Notice of upcoming events is provided to the membership via signage at the club, email and social media.

Operating model

Revenue model
Earned-program. 98% 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

- 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: 90
  • Accountability: 74
  • Sustainability: 31
  • 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: 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -6.1%; rating input score 18; 18th percentile among comparable filings
  • Total-asset coverage ratio: 1.33; rating input score 47; 47th percentile among comparable filings
  • Liabilities to assets ratio: 0.38; rating input score 28; 28th percentile among comparable filings
  • Officer compensation ratio: 5.9%; rating input score 48; 48th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.1% per year; rating input score 100; 35th percentile among comparable filings
  • Asset growth: 4.6% per year; rating input score 100; 32nd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 15 of 15 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $118K · 17 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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.

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Operating margin scored 18/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 47/100.
  • High — Sustainability: Liabilities to assets ratio scored 28/100.
  • Moderate — Sustainability: Officer compensation ratio scored 48/100.