Westerly Yacht Club
Nonprofit profile at a glance
- EIN
- 052477090
- IRS 990 coverage
- 2010–2011
- Forms available
- Form 990 2011
- Location
- Westerly, RI, USA
- Phone
- 4015962271
- Rating confidence
- Limited
- Sector
- Recreational l Clubs
Reported finances
- Revenue
- $945,712
- Expenses
- $866,806
- Assets
- $3,250,574
- Liabilities
- $1,205,845
Source: IRS Form 990. Selected filing: tax year 2011. Amounts in USD.
Leadership & pay
22 people listed
Source: IRS Form 990. Selected filing: tax year 2011. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The WESTERLY YACHT CLUB, a domestic non-profit association established in 1921, was organized to provide for recreational boating, education and social facilities for club members.
What it reported doing in 2011
To provide dock space for members only for recreational boating
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
- 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: 100
- Accountability: 37
- Sustainability: 61
- Growth: 40
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; 60th 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: 0%; rating input score 0; 4th percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: NotApplicable
- Other executive compensation review process: Pass
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 8.3%; rating input score 68; 68th percentile among comparable filings
- Total-asset coverage ratio: 3.75; rating input score 80; 80th percentile among comparable filings
- Liabilities to assets ratio: 0.37; rating input score 30; 30th percentile among comparable filings
- Officer compensation ratio: 16.7%; rating input score 17; 17th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 4.7% per year; rating input score 100; 56th percentile among comparable filings
- Asset growth: -0.5% per year; rating input score 0; 42nd percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 0 of 11 board members independent · 7 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $867K in reported program spending
- Leadership: top reported pay $52K · 22 people listed
- Consistency: 10 of 10 current checks pass
- Schedules: 3 filed schedules
- Filing history: 2 filing years from 2010 to 2011
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Accountability: Independent voting board scored 0/100.
- High — Growth: Asset growth scored 0/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Officer compensation ratio scored 17/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 30/100.