Sea Island Yacht Club

Nonprofit profile at a glance

EIN
570722009
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Wadmalaw Island, SC, USA
Phone
8433009464
Rating
80
Verdict
STRONG
Rating confidence
Moderate
Sector
Recreational l Clubs

Official website

Reported finances

Revenue
$353,304
Expenses
$343,021
Assets
$2,997,277
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

13 people listed

People named in this filing

  • GINNI QUISENBERRY (COMMODORE)
  • FREDERICK J SCHAFFER (VICE COMMODO)
  • ELIZABETH BERNAT (TREASURER)

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 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the club shall be to bring the people of wadmalaw island, johns island, charleston, and all other areas together for the sport and festivities connected with amateur yacht racing and for other social, benevolent, and recreational purposes and for other entertainment as may be derived from the use of the land, wharf, and building of the sea island yacht club located at rockville. For many years now, this club has sponsored events for its members to include: mother' day dinner, father's day fish fry dinner, oyster roast, the annual sea island summer regatta in the first weekend of august each year. Further, it has dinners and dances for its members.

What it reported doing in 2025

The sea island yacht club sponsors a fish fry, spring regatta, worlds (siod regatta), bingo, christmas party, fishing tournament, oyster roast and rockville open regatta - all social events directly related to the club's primary purpose.

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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 63
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 86.6%; rating input score 87
  • Program expense ratio: 88.6%; rating input score 89
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 64th percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • 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: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 2.9%; rating input score 43; 43rd percentile among comparable filings
  • Total-asset coverage ratio: 8.74; rating input score 88; 88th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 35.3% per year; rating input score 100; 92nd percentile among comparable filings
  • Revenue growth: 12.2% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 0.3% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 86.6% of revenue deployed · 88.6% of spending went to programs
  • Governance: 13 of 13 board members independent · 2 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $304K in reported program spending
  • Leadership: top reported pay $0 · 13 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • 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: Governance controls: 4 of 6 not reported.
  • Moderate — Sustainability: Operating margin scored 43/100.