Miramar Yacht Club

Legal name: Miramar Yacht Club Inc

Nonprofit profile at a glance

EIN
111516534
IRS 990 coverage
2014–2024
Official website data refreshed
Sep 2026
Forms available
Form 990 2024
Location
Brooklyn, NY, US
Phone
(718) 769-3548
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$359,149
Expenses
$269,375
Assets
$213,651
Liabilities
$18,373

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

Leadership & pay

4 people listed

People named in this filing

  • NASIM SHAMAILOV (COMMODORE)
  • JOSH REDER (VICE COMMODORE)
  • DEXTER BUELL (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. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Promote sailing and other forms of boating

Miramar Yacht Club is a member-managed, non-profit sailing community founded in 1932 as the Miramar Boat & Canoe Club on the north shore of Sheepshead Bay, Brooklyn. Incorporated in 1944 as a cooperative yacht club, it promotes sailing, power boating, racing, and social activities. The club offers diverse membership options, including for non-boat owners, and maintains a fleet of Ensigns and other vessels. It serves a diverse membership focused on boating, racing, and community events in New York City.

Operating model

Revenue model
Membership-supported. 91% 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

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

Rating breakdown

  • Financial Efficiency: 70
  • Transparency & Controls: 81
  • Accountability: 6
  • Sustainability: 58
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 69.7%; rating input score 70
  • Program expense ratio: 93%; rating input score 93
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 9th 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: 0%; rating input score 0; 7th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • 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: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 25%; rating input score 78; 78th percentile among comparable filings
  • Total-asset coverage ratio: 0.79; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 29.7% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 5.5% per year; rating input score 100; 55th percentile among comparable filings
  • Asset growth: 1.1% per year; rating input score 100; 29th percentile among comparable filings

Details

  • What they do: 9 programs and campaigns described on the official site · 1 operating location identified
  • Where the money goes: 69.7% of revenue deployed · 93% of spending went to programs
  • Governance: 0 of 3 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $250K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 10 filing years from 2014 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.

  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.