Seattle Yacht Club

Nonprofit profile at a glance

EIN
910404140
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
Seattle, WA, USA
Phone
2063251000
Rating confidence
Limited

Reported finances

Revenue
$12,949,401
Expenses
$11,867,650
Assets
$37,806,107
Liabilities
$2,698,796

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

Leadership & pay

19 people listed

Highest reported compensation

  • TODD ORMSBY (GENERAL MANAGER): $229,868 total reported compensation
  • BRIAN LEDBETTER (SAILING DIRECTOR): $202,486 total reported compensation
  • JEFFREY BERTSCH (DIRECTOR OF OPERATIONS): $196,872 total reported compensation

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

Overview

Mission

Seattle yacht club is incorporated for the purpose of encouraging yachting and boating of all kinds, and the development of the recreational marine advantages of the pacific northwest.

What it reported doing in 2024

Seattle yacht club sailing includes youth summer sailing school, adult sailing lessons, regattas, junior race team, high school sailing, opti green fleet program.syc is recognized among the leading yacht clubs of the world with a renowned comprehensive junior sailing program, in which the junior race team is an integral part. Our junior race team draws upon a broad base of young sailors primarily from the syc summer sailing school, syc's northwest interscholastic high school sailing team (hs sailing), and community outreach programs. The syc junior race team and hs sailing provide youths, from ages 8 to 18, the opportunity to reach for competitive success at all levels while developing athletic skills, leadership, sportsmanship and a lifelong love for boating. Syc has given rise to numerous generations of successful pacific northwest sailors, including multiple olympic champions. The syc race team continues the club's legacy of achievement, representing syc in local, regional, national and international competitions.

Operating model

Revenue model
Other-operating. 96% of the money available for current operations came from other operating 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: 47
  • Accountability: 94
  • Sustainability: 65
  • 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; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Limited
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 8.4%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 3.19; rating input score 76; 76th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 79; 79th percentile among comparable filings
  • Officer compensation ratio: 8.2%; rating input score 29; 29th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 3.8% per year; rating input score 100; 33rd percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 14 of 14 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments
  • Leadership: top reported pay $230K · 19 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $4.9M reported
  • Consistency: 13 of 13 current checks pass
  • Schedules: 5 filed schedules · includes foreign activity, executive pay, and related organizations
  • Filing history: 15 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 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 — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: Form 990 shared with the board not reported.
  • High — Sustainability: Officer compensation ratio scored 29/100.