Palm Beach Sailing Club

Nonprofit profile at a glance

EIN
592141303
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
West Palm Beach, FL, USA
Phone
5618810809
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$1,052,185
Expenses
$1,078,224
Assets
$1,025,049
Liabilities
$637,545

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

Leadership & pay

13 people listed

Highest reported compensation

  • Tim McCain (Club Manager): $80,000 total reported compensation
  • Anita Cleland (Secretary): $27,093 total reported compensation

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

Overview

Mission

To develop, encourage and stimulate interest in sailing in the Palm Beach area, to promote fellowship and comradery among local and visiting sailors and offer sailing education and training to members and others approved for training by the Board of Directors.

What it reported doing in 2024

Adult and Child Sailing and Boat activities - Sailing for all members includes lessons and other instructional programs open to the general public. Instructional and recreational sailing programs for the youth

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 a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 65
  • Transparency & Controls: 90
  • Accountability: 74
  • Sustainability: 31
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 73.3%; rating input score 73
  • Program expense ratio: 71.5%; rating input score 72
  • 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 8 controls in place; rating input score 38
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -2.5%; rating input score 29; 29th percentile among comparable filings
  • Total-asset coverage ratio: 0.95; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 12; 12th percentile among comparable filings
  • Officer compensation ratio: 9.9%; rating input score 37; 37th percentile among comparable filings

Growth

  • Program expense growth: 15.5% per year; rating input score 100; 76th percentile among comparable filings
  • Revenue growth: 10% per year; rating input score 100; 66th percentile among comparable filings
  • Asset growth: 2.6% per year; rating input score 100; 28th percentile among comparable filings

Details

  • Where the money goes: 73.3% of revenue deployed · 71.5% of spending went to programs
  • Governance: 13 of 13 board members independent · 3 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $771K in reported program spending
  • Leadership: top reported pay $80K · 13 people listed
  • Consistency: 24 of 24 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 13 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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: Operating margin scored 29/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Liabilities to assets ratio scored 12/100.
  • Moderate — Sustainability: Officer compensation ratio scored 37/100.