Solomons Island Yacht Club Inc

Nonprofit profile at a glance

EIN
520577592
IRS 990 coverage
2020–2025
Forms available
Form 990 2025
Location
Solomons, MD, USA
Phone
4103263718
Rating
88
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$502,521
Expenses
$416,591
Assets
$1,987,541
Liabilities
$487,741

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

Leadership & pay

4 people listed

People named in this filing

  • GARY HEAL (COMMODORE)
  • CHARLES MAHANES (VICE COMMODORE)
  • MARIE REDFIELD (SECRETARY)

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

Provide comraderie & fellowship of members

Operating model

Revenue model
Membership-supported. 64% of the money available for current operations came from membership dues.
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 liabilities are high compared with assets.

Rating breakdown

  • Financial Efficiency: 85
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 68
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.3%; rating input score 94
  • Program expense ratio: 96.9%; rating input score 97
  • 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; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • 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: Pass
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 17.1%; rating input score 68; 68th percentile among comparable filings
  • Total-asset coverage ratio: 4.77; rating input score 83; 83rd percentile among comparable filings
  • Liabilities to assets ratio: 0.25; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 78; 78th percentile among comparable filings

Growth

  • Program expense growth: 10.7% per year; rating input score 100; 60th percentile among comparable filings
  • Revenue growth: 10.9% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 0.8% per year; rating input score 100; 18th percentile among comparable filings

Details

  • Where the money goes: 94.3% of revenue deployed · 96.9% of spending went to programs
  • Governance: 22 of 22 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 6 filing years from 2020 to 2025
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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: Liabilities to assets ratio scored 22/100.