PALMER COVE YACHT CLUB INC (EIN 041700347) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1934

Legal Domicile

Principal Officer

JAMES TANCH

Phone

9787412566

Tax Period

2023-01-01 to 2023-12-31

PALMER COVE YACHT CLUB INC, founded in 1934, is a small nonprofit that reported $515K in total revenue in fiscal year 2023. Revenue decreased 7% compared to the prior year. Net assets of $1.5M represent 35 months of operating reserves.

Mission

TO SERVE THE BOATING NEEDS OF THE MEMBERSHIP OF THE PALMER COVE YACHT CLUB

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $20,338

Program Service Revenue $432,523

Investment Income $29,672

Other Revenue $32,803

TOTAL REVENUE $515,336

Expense Breakdown

Grants Paid $775

Salaries & Benefits $109,629

Fundraising Expenses $0

Other Expenses $438,141

TOTAL EXPENSES $548,545

Year-over-Year Comparison

	2023	2022	Change
Revenue	$515,336	$553,515	-0.1%
Expenses	$548,545	$477,563	+0.1%
Net Income	$-33,209	$75,952	-1.4%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

270

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD MOURNEAU	DIRECTOR	5.00	Director	$0	$0	$0
TIMOTHY BOUCHER	DIRECTOR	5.00	Director	$0	$0	$0
T ERIC BERUBE	COMMODORE/DIRECTOR	5.00	Officer Director	$0	$0	$0
MICHAEL MCMAHON	SECRETARY/DIRECTOR	5.00	Officer Director	$0	$0	$0
LAURENCE ROBERTIE	TREASURER/DIRECTOR	5.00	Officer Director	$0	$0	$0
SCOTT FLEET	DIRECTOR	5.00	Director	$0	$0	$0
JAMES TANCH	VICE COMMODORE/DIRECTOR	5.00	Officer Director	$0	$0	$0
MAURA VARNEY	REAR COMMODORE/DIRECTOR	5.00	Officer Director	$0	$0	$0
FRED PFEIL III	DIRECTOR	5.00	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$515,336	$548,545	$2,063,508	$-33,209
2022	$553,515	$477,563	$2,031,921	$75,952
2021	$505,004	$363,648	$1,539,931	$141,356
2020	$331,953	$304,133	$1,425,118	$27,820
2019	$527,470	$387,863	$1,358,124	$139,607
2018	$520,780	$400,781	$1,204,901	$119,999

PALMER COVE YACHT CLUB INC