Indian Lake Yacht Club Inc

Nonprofit profile at a glance

EIN
346556065
IRS 990 coverage
2010–2024
Forms available
Form 990 2024, Form 990-EZ 2022
Location
Russells Point, OH, USA
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$184,916
Expenses
$49,636
Assets
$815,048
Liabilities
$8,482

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

Leadership & pay

11 people listed

Highest reported compensation

  • DOUG CHAMBERLIN (TRUSTEE): $3 total reported compensation

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

Overview

Mission

Provide facilities and programs to promote recreational sailing by providing membership with facilities for docking sailboats, conducting junior sailing camp, adult sailing instruction and conducting races for the improvement of sailing skills.

What it reported doing in 2024

Restoring facilities following destruction of facilities by a tornado in march, 2024. Planning restoration of docking facilities and construction of replacement buildings while conducting limited sailing experiences and conducting limited racing and social activities. Proceeds from replacement cost casualty insurance will be used in following year to construct replacement facilities.

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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 53
  • Transparency & Controls: 92
  • Accountability: 64
  • Sustainability: 83
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 35.2%; rating input score 35
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 1 of 8 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Limited
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 73.2%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 16.42; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 45; 45th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: -49.5% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 9.7% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 5.9% per year; rating input score 100; 51st percentile among comparable filings

Details

  • Where the money goes: 35.2% of revenue deployed · 100% of spending went to programs
  • Governance: 11 of 11 board members independent · 1 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $50K in reported program spending
  • Leadership: top reported pay $3 · 11 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 3 filing years from 2010 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.

  • Moderate — Financial Efficiency: Mission deployment rate scored 35/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 45/100.