Toms River Yacht Club Inc

Nonprofit profile at a glance

EIN
210625526
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Toms River, NJ, USA
Phone
7329290888
Rating
80
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$1,291,516
Expenses
$1,425,423
Assets
$2,648,230
Liabilities
$552,702

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

Leadership & pay

12 people listed

People named in this filing

  • AJ Bailey (Board of Govnrs)
  • Brian Gabriel (Board of Govrns)
  • John Herrick (Board of Govnrs)

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 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide recreation facilities for adults & junior sailing and dining facilities for use by members.

What it reported doing in 2024

Toms River Yacht Club was formed in 1871 to support sailboat racing. The Club conducts races throughout the year for many different classes of sailboats. The club also permits Ocean County College and Kean College and several High Schools in the area to use the facility and grounds for their teams 7 months out of the year. The Club also conducts an 8 week Junior Sailing Program each year for members and guests. The Club hosts regattas and events for several non-profit organizations, such as US Sailing, Ocean County College, Kean College and BBYRA junior sailing & senior sailing programs.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
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

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: 89
  • Transparency & Controls: 82
  • Accountability: 70
  • Sustainability: 39
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 99.4%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90.9%; rating input score 91; 8th 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; 63rd 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: -10.4%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 1.86; rating input score 62; 62nd percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 31; 31st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 19.4% per year; rating input score 100; 82nd percentile among comparable filings
  • Revenue growth: 0.6% per year; rating input score 100; 17th percentile among comparable filings
  • Asset growth: -6% per year; rating input score 0; 6th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 99.4% of spending went to programs
  • Governance: 350 of 350 board members independent · 2 of 7 filing controls reported
  • Programs: 5 filed program accomplishments
  • Leadership: top reported pay $0 · 12 people listed
  • Highest-paid contractors: 1 contractor listed
  • Consistency: 15 of 16 current checks pass · 1 finding to review
  • Schedules: 2 filed schedules
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 31/100.