FALMOUTH YACHT CLUB INC

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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

1990

Legal Domicile

Principal Officer

MIKE ALLIETTA

Phone

5085483865

Tax Period

2024-01-01 to 2024-12-31

FALMOUTH YACHT CLUB INC, founded in 1990, is a small nonprofit that reported $999K in total revenue in fiscal year 2024. Revenue decreased 7% compared to the prior year. Expenses of $1.1M exceeded revenue, resulting in a 12% operating deficit.

Mission

THE PURPOSE OF THE CLUB IS TO PROMOTE YACHTING, PROVIDE AND MAINTAIN A SUITABLE CLUBHOUSE, AND ENCOURAGE GOOD FELLOWSHIP AMONG ITS MEMBERS.

Program Service Accomplishments

Program 1

MAINTAINING DINING AND LOUNG FACILITIES FOR THE SOCIAL GATHERING OF MEMBERS, MEMBER FAMILIES, AND THEIR GUESTS.

Program 2

MAINTAINING BEACH FACILITIES FOR THE SOCIAL GATHERING OF MEMBERS, MEMBERS FAMILIES, AND THEIR INVITED GUESTS.

Program 3

MAINTAINING DOCKS AND MOORING FACILITIES TO FACILITATE THE SAILING AND OTHER BOATING ACTIVITIES OF MEMBERS, MEMBERS FAMILIES, AND THEIR INVITED GUESTS.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $1,234,402

Investment Income $28,603

Other Revenue $-264,218

TOTAL REVENUE $998,787

Expense Breakdown

Grants Paid $0

Salaries & Benefits $424,799

Fundraising Expenses $0

Other Expenses $694,598

TOTAL EXPENSES $1,119,397

Year-over-Year Comparison

	2024	2023	Change
Revenue	$998,787	$1,071,504	-0.1%
Expenses	$1,119,397	$906,137	+0.2%
Net Income	$-120,610	$165,367	-1.7%

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

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
JEFF CAMUSO	BOARD MEMBER	2.00	Director	$0	$0	$0
KATE KILLORY	COMMODORE	2.00	Officer Director	$0	$0	$0
MICHAEL RICHARDS	VICE COMMODORE	3.00	Officer Director	$0	$0	$0
CLIFF LONG	TREASURER	5.00	Officer Director	$0	$0	$0
JAMES MCINNIS	PAST COMMODORE	0.00	Director	$0	$0	$0
BRIDGET HEBERT	BOARD MEMBER	2.00	Director	$0	$0	$0
SHIRLEY WALSH	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN WAYNE	BOARD MEMBER	2.00	Director	$0	$0	$0
VICTORIA CHAPMAN	BOARD MEMBER	0.00	Director	$0	$0	$0
RICHARD O'CONNELL	PAST COMMODORE	5.00	Director	$0	$0	$0
PEGGY WALKER	SECRETARY	5.00	Officer Director	$0	$0	$0
GARY DOODLESACK	PAST COMMODORE	2.00	Director	$0	$0	$0
JENNIFER FOLLETT	BOARD MEMBER	2.00	Director	$0	$0	$0
JOHN CALLAHAN	BOARD MEMBER	2.00	Director	$0	$0	$0
RON GOLUB	BOARD MEMBER	2.00	Director	$0	$0	$0
JACK AMOUR	BOARD MEMBER	2.00	Director	$0	$0	$0
JAMIE TORMEY	REAR COMMODORE	3.00	Officer Director	$0	$0	$0
MICHAEL ALLIETTA	BOARD MEMBER	2.00	Director	$0	$0	$0
ANDREW BONICA	BOARD MEMBER	2.00	Director	$0	$0	$0
BRENNAN HILL	BOARD MEMBER	2.00	Director	$0	$0	$0
JAMES DICOSTANZA	BOARD MEMBER	2.00	Director	$0	$0	$0
WILLIAM FRAWLEY	BOARD MEMBER	2.00	Director	$0	$0	$0
CYNTHIA O'CONNER	BOARD MEMBER	2.00	Director	$0	$0	$0
ROB RICHARDS	BOARD MEMBER	2.00	Director	$0	$0	$0
JOE VOCI	BOARD MEMBER	2.00	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	$998,787	$1,119,397	$4,413,442	$-120,610
2023	$1,071,504	$906,137	$4,134,715	$165,367
2022	$1,012,127	$822,221	$2,847,825	$189,906
2021	$868,710	$886,735	$2,463,817	$-18,025
2020	$771,447	$872,436	$2,480,627	$-100,989
2019	$1,008,093	$846,800	$2,347,907	$161,293
2018	$795,119	$855,058	$2,291,018	$-59,939