Lakeland Yacht & Country Club Inc

Nonprofit profile at a glance

EIN
590587130
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Lakeland, FL, USA
Phone
8636802582
Rating
79
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$3,119,181
Expenses
$2,914,499
Assets
$6,417,015
Liabilities
$3,305,524

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

Leadership & pay

4 people listed

People named in this filing

  • MICHAEL EHLENBECK (CHAIR)
  • MICHAEL KINCART (VICE CHAIR)
  • TRACY WILSON (TREASURER)

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

To promote social and recreational fellowship among our members and their families throughout their lives, while operating in a professional, financially prudent manner and maintaining excellence in our relationship with staff and community.

What it reported doing in 2024

The lakeland yacht and country club is the oldest and most prestigious member-owned private club in this region. It is unique among private clubs in central Florida because it provides, in one magnificent setting, both fine and casual dining, outstanding social events, private meeting rooms, and tennis and swimming for all its members' social, professional and recreational needs. With an emphasis on family, tradition, lifestyle and fun, the lakeland yacht and country club has been serving families and businesses of lakeland for 100 years. Memberships are available to establish and maintain social and recreational facilities and functions for the benefit of its members.

Operating model

Revenue model
Other-operating. 79% of the money available for current operations came from other operating revenue.
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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 88.2%; rating input score 88
  • Program expense ratio: 73.2%; rating input score 73
  • 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 7 controls in place; rating input score 43
    • 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: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.6%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 2.2; rating input score 65; 65th percentile among comparable filings
  • Liabilities to assets ratio: 0.52; rating input score 20; 20th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 4.6% per year; rating input score 100; 37th percentile among comparable filings
  • Revenue growth: 2.8% per year; rating input score 100; 25th percentile among comparable filings
  • Asset growth: 9.8% per year; rating input score 100; 58th percentile among comparable filings

Details

  • Where the money goes: 88.2% of revenue deployed · 73.2% of spending went to programs
  • Governance: 251 of 251 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $2.1M in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2009 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 — Accountability: Governance controls: 3 of 6 not reported.
  • Review — Sustainability: Operating margin scored 55/100.
  • High — Sustainability: Liabilities to assets ratio scored 20/100.