Us Superyacht Association Inc

Nonprofit profile at a glance

EIN
030605331
IRS 990 coverage
2014–2023
Forms available
Form 990 2023
Location
Fort Lauderdale, FL, USA
Phone
9547642929
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$1,024,580
Expenses
$922,678
Assets
$322,448
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

32 people listed

People named in this filing

  • BERT FOWLES (CHAIRPERSON)
  • MONIQUE WEBBER (ADVOCACY CO-CHAIR)
  • JOE DARGAVAGE (ADVOCACY CO-CHAIR)

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 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Organization formed to promote and support the u.s. Superyacht industry and its members worldwide through advocacy, marketing and education.

What it reported doing in 2023

Educational, symposiums, participation in trade shows and exhibits

Operating model

Revenue model
Earned-program. 98% 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

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.8%; rating input score 82
  • Program expense ratio: 90.9%; rating input score 91
  • Fundraising efficiency: $0 raised per $1 spent on fundraising; rating input score 1; 1st percentile among comparable filings

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; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 9.9%; rating input score 63; 63rd percentile among comparable filings
  • Total-asset coverage ratio: 0.35; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 92; 92nd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 3.4% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 5.1% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: 23.3% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 81.8% of revenue deployed · 90.9% of spending went to programs
  • Governance: 24 of 24 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $838K in reported program spending
  • Leadership: top reported pay $0 · 32 people listed
  • Highest-paid contractors: 2 contractors listed · $1.4M reported
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules
  • Filing history: 9 filing years from 2014 to 2023
  • 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 — Financial Efficiency: Fundraising efficiency scored 1/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.