PORT WASHINGTON YACHT CLUB INC (EIN 111198535) - 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

1905

Legal Domicile

Principal Officer

EDWARD PARISI

Phone

5167671614

Tax Period

2023-01-01 to 2023-12-31

PORT WASHINGTON YACHT CLUB INC, founded in 1905, is a community nonprofit that reported $6.3M in total revenue in fiscal year 2023. Expenses of $6.0M left a modest 5% surplus.

Mission

THE CLUB IS NOT-FOR-PROFIT MEMBERSHIP CORP. PROVIDING A CLUBHOUSE, YACHTING SERVICE, RESTAURANT, BAR AND VARIOUS ACTIVITIES FOR THE RECREATION & SOCIALIZATION OF ITS MEMBERS.

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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 $0

Program Service Revenue $2,859,713

Investment Income $104,868

Other Revenue $3,383,445

TOTAL REVENUE $6,348,026

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,222,156

Fundraising Expenses $0

Other Expenses $2,813,390

TOTAL EXPENSES $6,035,546

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,348,026	$6,285,277	+0.0%
Expenses	$6,035,546	$5,948,105	+0.0%
Net Income	$312,480	$337,172	-0.1%

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

180

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

$257,041

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
THOMAS C STEELE	COMMODORE	3.00	Officer Director	$0	$0	$0
STEWART JERVIS	VICE COMMODORE	3.00	Officer Director	$0	$0	$0
MICHAEL NETTESHEIM	REAR COMMODORE	3.00	Officer Director	$0	$0	$0
EDWARD PARISI	TREASURER	3.00	Officer Director	$0	$0	$0
WILLIAM NEVILLE	SECRETARY	3.00	Officer Director	$0	$0	$0
PATRICIA JAGENBURG	MEMBERSHIP SECRETARY	3.00	Officer Director	$0	$0	$0
GREG JOHNSTON	FLEET CAPTAIN	3.00	Officer Director	$0	$0	$0
AIDAN M MCCORMACK	PAST COMMODORE	3.00	Officer Director	$0	$0	$0
SCOTT BERSIN	GOVERNOR	3.00	Director	$0	$0	$0
LIZ BLACKER	GOVERNOR	3.00	Director	$0	$0	$0
TIMOTHY LOWE	GOVERNOR	3.00	Director	$0	$0	$0
THERESA LUNETTA-HAUSER	GOVERNOR	3.00	Director	$0	$0	$0
STEPHEN MCGANN	GOVERNOR	3.00	Director	$0	$0	$0
DAWN SERIGNESE	GOVERNOR	3.00	Director	$0	$0	$0
PAM SORIN	GOVERNOR	3.00	Director	$0	$0	$0
BRIAN SMETANA	GOVERNOR	3.00	Director	$0	$0	$0
KEN TAKAHASHI	GOVERNOR	3.00	Director	$0	$0	$0
LELAND VH KOONS	GENERAL MANAGER	40.00	Key Emp	$229,145	$27,896	$257,041
MATTHEW BLANKMAN	ASSISTANT GENERAL MANAGER	40.00	Highest	$113,126	$10,459	$123,585
MARILYN YEE CARSON	CONTROLLER	40.00	Highest	$133,521	$20,529	$154,050
MICHAEL MEDORO	CHEF	40.00	Highest	$137,077	$10,283	$147,360
KEITH HABERMAN	DOCKMASTER	40.00	Highest	$150,217	$1,962	$152,179
PAUL WALLACK	PRO	40.00	Highest	$143,452	$723	$144,175

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	$6,348,026	$6,035,546	$9,378,353	$312,480
2022	$6,285,277	$5,948,105	$8,865,892	$337,172
2021	$5,950,059	$5,263,965	$8,460,591	$686,094
2020	$4,967,423	$4,415,554	$7,778,047	$551,869
2019	$5,572,330	$5,377,595	$7,301,732	$194,735
2018	$5,289,221	$5,617,836	$7,237,886	$-328,615

PORT WASHINGTON YACHT CLUB INC