Sarasota Yacht Club

Nonprofit profile at a glance

EIN
590436199
IRS 990 coverage
2009–2024
Forms available
Form 990 2024
Location
Sarasota, FL, USA
Phone
9413654191
Rating confidence
Limited

Official website

Reported finances

Revenue
$9,706,859
Expenses
$10,664,530
Assets
$29,313,158
Liabilities
$11,493,379

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

Leadership & pay

19 people listed

Highest reported compensation

  • KAREN HARMON (GM/COO): $464,114 total reported compensation
  • JENNIFER ROMERO (CHIEF FINANCIAL OFFICER): $283,967 total reported compensation
  • MAX MIRANDA (DIRECTOR OF CLUBHOUSE OPERATIONS): $225,553 total reported compensation

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

Overview

Mission

The world-class, award winning sarasota yacht club is home to a diverse membership and professional staff who inspire lifelong friendships and extraordinary experiences in our culturally-rich waterfront city.

What it reported doing in 2024

Syc brand statementto people who enjoy being on or around the water and connecting with friends that have similar interest, sarasota yacht club is the premier world-class yacht club that delivers the yachting lifestyle experience inspiring lifelong friendships and extraordinary experiences in anupscale, waterfront location with award winning dining, a clean, full-service marina, and engaging activities in a family-friendly welcoming environment. In our culturally rich city, only syc has a unique waterfront location, diverse active members, and professional staff.

Operating model

Revenue model
Earned-program. 88% of the money available for current operations came from fees and other program revenue.
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: 82
  • Accountability: 100
  • Sustainability: 32
  • 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: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • 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: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -9.9%; rating input score 13; 13th percentile among comparable filings
  • Total-asset coverage ratio: 2.75; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 27; 27th percentile among comparable filings
  • Officer compensation ratio: 16.3%; rating input score 17; 17th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 4.6% per year; rating input score 100; 38th percentile among comparable filings
  • Asset growth: 3.2% per year; rating input score 100; 25th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 9 of 9 board members independent · 9 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $464K · 19 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 14 of 14 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 16 filing years from 2009 to 2024
  • Contacts: How to reach this organization
  • Money network: 8 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.

  • High — Sustainability: Operating margin scored 13/100.
  • High — Sustainability: Officer compensation ratio scored 17/100.
  • High — Sustainability: Liabilities to assets ratio scored 27/100.