Waikiki Yacht Club

Overview

Mission

This club is organized and shall operate to provide for the pleasure, recreation and other nonprofitable purposes of its members, as an organization described in section 501(c)(7) of the internal revenue code. Consistent with its status as a section 501(c)(7) tax exempt entity, the primary purpose for which this club is organized and its primary mission is to provide a medium through which its members may participate in the sport of yachting and to promote and foster interest in the knowledge of yachting, boating, navigation, and other maritime activities, and to cooperate with federal, state, and municipal officials in the protection of life and property on the high seas and within the waters of the state of Hawaii. Corinthianism shall dominate all activities of the club. Subject to the club's primary purpose and mission, the club may offer such social and recreational activities to its members as are consistent with its nonprofit, tax exempt status.

Operating model

Revenue model

Earned-program. 66% 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

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

• Financial Efficiency: 0
• Transparency & Controls: 90
• Accountability: 94
• Sustainability: 33
• Growth: 60

Detailed rating inputs

Details

• Where the money goes: 0% of revenue deployed · 0% of spending went to programs
• Governance: 10 of 10 board members independent · 6 of 7 filing controls reported
• Programs: 3 filed program accomplishments · $3.2M in reported program spending
• Leadership: top reported pay $0 · 10 people listed
• Consistency: 14 of 15 current checks pass · 1 finding to review
• Schedules: 2 filed schedules
• Filing history: 9 filing years from 2015 to 2024
• 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.
• 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 — Financial Efficiency: Mission deployment rate scored 0/100.
• High — Financial Efficiency: Program expense ratio scored 0/100.
• Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
• High — Sustainability: Operating margin scored 25/100.
• Review — Accountability: Governance controls: Independent financial-statement audit not reported.
• High — Sustainability: Total-asset coverage ratio scored 24/100.
• High — Sustainability: Liabilities to assets ratio scored 27/100.