Hernando Beach Yacht Club Inc

Nonprofit profile at a glance

EIN
591883734
IRS 990-EZ coverage
2023–2024
Forms available
Form 990 2010, Form 990-EZ 2024
Location
Spring Hill, FL, USA
Phone
3525964830
Rating
49
Verdict
MIXED
Rating confidence
Moderate
Sector
Recreational l Clubs

Reported finances

Revenue
$93,516
Expenses
$86,178
Assets
$253,519
Liabilities
$15,284

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

Leadership & pay

12 people listed

People named in this filing

  • Pat Coggins (Commodore)
  • Gay Colleypriest (Vice Commodore)
  • Bill Colleypriest (Rear Commodore)

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

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

Overview

Mission

To promote boating, socialization between members and promote/conduct boating educational projects.

What it reported doing in 2024

The Club held many social events to promote interactions between members. Traditional boating-related events, such as the Commodore's Ball and Change of Watch, were held to honor long-standing Yacht Club traditions. Several educational programs were also conducted in cooperation with the local Coast Guard Auxiliary. Two boat parades were organized during the year, one to assist Toys for Tots and the other to assist the Florida Veterans Foundation.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and program spending has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 19
  • Transparency & Controls: 82
  • Sustainability: 58
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 17.5%; rating input score 17
  • Program expense ratio: 22.5%; rating input score 22

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
  • Major donor itemization: Limited

Sustainability

  • Operating margin: 7.8%; rating input score 59; 59th percentile among comparable filings
  • Total-asset coverage ratio: 2.94; rating input score 74; 74th percentile among comparable filings
  • Liabilities to assets ratio: 0.06; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 56; 56th percentile among comparable filings

Growth

  • Program expense growth: 16.9% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 4.2% per year; rating input score 100; 68th percentile among comparable filings
  • Asset growth: -5.8% per year; rating input score 0; 23rd percentile among comparable filings

Details

  • Where the money goes: 17.5% of revenue deployed · 22.5% of spending went to programs
  • Governance: Filed governance answers
  • Accomplishments: 1 filed program accomplishment · $19K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 2 filing years from 2023 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 17/100.
  • High — Financial Efficiency: Program expense ratio scored 22/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Operating margin scored 59/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.
  • Review — Sustainability: Officer compensation ratio scored 56/100.