Miles River Yacht Club Inc

Nonprofit profile at a glance

EIN
520414916
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
St Michaels, MD, USA
Phone
4107459511
Rating confidence
Limited

Reported finances

Revenue
$1,963,617
Expenses
$1,593,798
Assets
$3,827,794
Liabilities
$1,920,944

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

Leadership & pay

15 people listed

People named in this filing

  • NICK SIMPSON (COMMODORE)
  • DENNIS KELLY (VICE COMMODORE)
  • MATT KEALY (R/C)

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

The purpose of the club is to encourage traditional eastern shore recreational activities on the water.

What it reported doing in 2024

Mryc is a yacht club. It provides its members with activities and facilities surrounding the water. All program service revenue is collected in connection with these tax exempt activities.

Operating model

Revenue model
Membership-supported. 77% of the money available for current operations came from membership dues.
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: 76
  • Sustainability: 67
  • 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 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 18.8%; rating input score 75; 75th percentile among comparable filings
  • Total-asset coverage ratio: 2.4; rating input score 70; 70th percentile among comparable filings
  • Liabilities to assets ratio: 0.5; rating input score 16; 16th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.3% per year; rating input score 100; 39th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 19th 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 7 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • 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.

Key Signals

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

  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 16/100.