CHELSEA YACHT CLUB

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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

1890

Legal Domicile

Principal Officer

MARTIN ROSNER

Phone

8458317245

Tax Period

2023-01-01 to 2023-12-31

CHELSEA YACHT CLUB, founded in 1890, is a small nonprofit that reported $282K in total revenue in fiscal year 2023. Expenses of $268K left a modest 5% surplus.

Mission

TO ATTRACT AND BRING TOGETHER A DEDICATED GROUP OF SAILING MEMBERS, AS WELL AS, ENCOURAGE, AID AND SUPPORT YOUTH AND ADULT SAILING PROGRAMS.

Program Service Accomplishments

Program 1

Expenses: $41,863

JR AND ADULT SAILING PROGRAMS TO ENCOURAGE INTEREST AND BUILD SKILLS IN SAILING

Program 2

Expenses: $89,581

LAUNCH, MOORING, HAULING AND STORAGE SERVICES FOR MEMBERS TO PROMOTE BOATING FOR ATHLETIC AND SOCIAL BENEFITS

Program 3

Expenses: $57,087

CHELSEA OPEN REGATTA, RACES, AND SOCIAL EVENTS - TO PROMOTE THE SPORT OF RACING AND FOSTER THE SOCIAL BENEFITS OF A SAILING COMMUNITY

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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 $91,601

Program Service Revenue $185,333

Investment Income $9,274

Other Revenue $-3,817

TOTAL REVENUE $282,391

Expense Breakdown

Grants Paid $0

Salaries & Benefits $43,512

Fundraising Expenses $0

Program Expenses $188,531

Other Expenses $224,042

TOTAL EXPENSES $267,554

Year-over-Year Comparison

	2023	2022	Change
Revenue	$282,391	$295,584	0.0%
Expenses	$267,554	$266,128	+0.0%
Net Income	$14,837	$29,456	-0.5%

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

182

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

$16,110

Total Directors

$1,455

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SVEN WILLKEHR	RC MARINA	5.00	Officer	$4,520	$485	$5,005
MICHAEL PIKE	FLEET CAPTAI	5.00	Officer	$3,042	$485	$3,527
MARK MAXAM	COMMODORE	15.00	Officer	$2,288	$485	$2,773
MICHAEL COLUCCI	RC HAULING &	5.00	Officer	$156	$485	$641
STEVEN PARKER	TRUSTEE	5.00	Director	$0	$485	$485
RUSSELL POLO	TRUSTEE	5.00	Director	$0	$485	$485
KURT WORELL	TRUSTEE	5.00	Director	$0	$485	$485
JOHN AMICO	RC HOUSE	5.00	Officer	$0	$485	$485
MICHAEL BARRA	RC WATERFRON	5.00	Officer	$0	$485	$485
AMY CLOUTIER	TREASURER	10.00	Officer	$0	$485	$485
CORINNA DEIGAN	RC ENTERTAIN	5.00	Officer	$0	$485	$485
REGINA HOJNACKI	RC GROUNDS	5.00	Officer	$0	$485	$485
ROY NEWMAN	RC BOATS AND	5.00	Officer	$0	$485	$485
MARTIN ROSNER	VICE COMMODO	10.00	Officer	$0	$485	$485
WILLIAM GORDON	DIRECTOR SAI	5.00	Officer	$0	$283	$283
KATRINA DUFFY	SECRETARY	5.00	Officer	$0	$243	$243
WENDY SMART	SECRETARY (F	5.00	Officer	$0	$243	$243

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	$282,391	$267,554	$396,298	$14,837
2022	$295,584	$266,128	$381,831	$29,456
2021	$268,287	$264,377	$361,777	$3,910
2020	$163,595	$188,293	$362,910	$-24,698