The Potomac Boat Club Inc

Nonprofit profile at a glance

EIN
530127820
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Washington, DC, USA
Phone
2023339737
Rating confidence
Limited
Sector
Recreational l Clubs

Official website

Reported finances

Revenue
$891,764
Expenses
$856,725
Assets
$1,024,227
Liabilities
$67,814

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

Leadership & pay

9 people listed

Executive titles in this filing

  • LENA WANG (PRESIDENT)
  • MICHAEL KUMMER (VICE PRESIDENT)

Highest reported compensation

  • STEVE TITUS (TREASURER): $3,000 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 mutual improvement of its members and the maintenance and encouragement of the art of water sports among amateurs

What it reported doing in 2024

The club also provides an outlet for members to engage with community organizations related to area parks and river usage, such as the friends of georgetown waterfront park, friends of rock creek park, the next-door key bridge boathouse, the thompson boat center, the kennedy center expansion project, and the potomac riverkeeper network; and organizes riverside cleanups with the potomac conservancy and the national park service. Pbc received a grant from the chesapeake bay trust which was used to install a 500 gallon cistern to capture rainwater. This water is now used to wash our boats, rather than direclty using water provided by dc water. Finally, the club and its members strive to maintain the history and historic presence and architecture of the club itself, and the environmental quality of the potomac river.

Operating model

Revenue model
Earned-program. 90% 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: 92
  • Accountability: 74
  • Sustainability: 49
  • 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: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • 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: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 3.9%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 1.2; rating input score 48; 48th percentile among comparable filings
  • Liabilities to assets ratio: 0.07; rating input score 48; 48th percentile among comparable filings
  • Officer compensation ratio: 0.4%; rating input score 61; 61st percentile among comparable filings

Growth

  • Program expense growth: -25.6% per year; rating input score 0; 2nd percentile among comparable filings
  • Revenue growth: 6.7% per year; rating input score 100; 53rd percentile among comparable filings
  • Asset growth: 0.5% per year; rating input score 100; 19th 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 · 3 of 8 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $3K · 9 people listed
  • Consistency: 11 of 11 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 9 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: Filed and resolved organization relationships.
  • 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 — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 48/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 48/100.