Mt Sinai Yacht Club Inc

Nonprofit profile at a glance

EIN
112113926
IRS 990 coverage
2017–2024
Forms available
Form 990 2024
Location
Mt Sinai, NY, USA
Phone
6314732993
Rating
36
Verdict
REVIEW
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,107,902
Expenses
$1,130,003
Assets
$1,200,630
Liabilities
$107,444

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

Leadership & pay

12 people listed

People named in this filing

  • EILEN KELLY (TRUSTEE)
  • MICHAEL SCHUSTER (TRUSTEE)
  • JOHN AMATO (TRUSTEE)

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

Social club

What it reported doing in 2024

Private club. Social events & boating facilities for over 200 members

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program 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

REVIEW - 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: 2
  • Transparency & Controls: 90
  • Accountability: 6
  • Sustainability: 42
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 2.3%; rating input score 2
  • Program expense ratio: 1.6%; rating input score 2
  • 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: 0%; rating input score 0; 5th 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: -2%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 1.06; rating input score 45; 45th percentile among comparable filings
  • Liabilities to assets ratio: 0.09; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 15.5% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 7.9% per year; rating input score 100; 58th percentile among comparable filings
  • Asset growth: 2.9% per year; rating input score 100; 29th percentile among comparable filings

Details

  • Where the money goes: 2.3% of revenue deployed · 1.6% of spending went to programs
  • Governance: 0 of 6 board members independent · 1 of 7 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 7 filing years from 2017 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 — Financial Efficiency: Mission deployment rate scored 2/100.
  • High — Financial Efficiency: Program expense ratio scored 2/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 5 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 45/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.