BARNEGAT LIGHT 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

1928

Legal Domicile

Principal Officer

JOHN CUNNINGHAM

Phone

6094949686

Tax Period

2024-12-01 to 2025-11-30

BARNEGAT LIGHT YACHT CLUB, founded in 1928, is a small nonprofit in the Recreation & Sports sector that reported $297K in total revenue in fiscal year 2024. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $255K left a modest 14% surplus.

Mission

THE CORPORATION IS TO BE ORGANIZED AND OPERATED EXCLUSIVELY FOR YACHTING AND RECREATIONAL PURPOSES AND SUCH OTHER SOCIAL AND EDUCATIONAL PURPOSES AS ARE REASONABLY INCIDENTAL THERETO, AND OTHER NON-PROFITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(7) OF THE UNITED STATES INTERNAL REVENUE CODE OF 1954, AS THE SAME MAY BE FROM TIME TO TIME AMENDED. NO PART OF ANY NET EARNINGS OF THE CORPORATION SHALL INURE TO THE BENEFIT OF ANY MEMBER. THE PURPOSES OF THE CORPORATION SHALL BE TO ENCOURAGE AND EDUCATE PERSONS IN YACHTING AND BOATING OF ALL KINDS AND ANY RECREATIONAL OR SOCIAL ACTIVITIES INCIDENTAL THERETO.

Program Service Accomplishments

Program 1

Expenses: $194,298

ADULT SAILING - BLYC SPONSORS ADULT SAILING FLEETS AND HOSTED REGULAR WEEKLY SUMMER RACES FOR THE FLEETS (APPROXIMATELY 8-10 WEEKENDS THROUGHOUT THE SUMMER MONTHS). ADDITIONALLY, BLYC HOSTED THE BLYC ANNUAL REGATTA. THESE EVENTS WERE ALL ORGANIZED AND LED BY MEMBERSHIP VOLUNTEERS OF BLYC. SPECIFIC VOLUNTEER ACTIVITIES INCLUDED RACE COMMITTEE, CRASH BOATING, REGISTRATION, SCORING, FOOD PREPARATION, AND EVEN PROVIDING WEEKEND HOUSING FOR MAJOR REGATTAS.

Program 2

Expenses: $12,788

YOUTH SWIMMING AND SAILING PROGRAM - BLYC ENROLLED STUDENTS IN THE SUMMER FROM THROUGHOUT OUR COMMUNITY TO PARTICIPATE IN ITS YOUTH INSTRUCTIONAL PROGRAM. ACTIVITIES INCLUDE DAILY INSTRUCTION IN BOTH SAILING AND SWIMMING (VARIOUS LEVELS), AND BLYC COMPETITIVE SWIMMING AND SAILING EVENTS INCLUDING THOSE SPONSORED BY LBIYRA,NJYRA AND US SAILING, AND MISCELLANEOUS RECREATIONAL SOCIAL YOUTH EVENTS INCIDENTAL THERETO. ALL PARTICIPANTS ARE SPECIAL MEMBERS OF BLYC, ALSO DEFINED AS YOUTH MEMBERS AND JUNIOR RECREATIONAL MEMBERS WITHIN OUR MEMBERSHIP COMMITTEE PROCEDURES MANUAL.

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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 $140,810

Program Service Revenue $151,355

Investment Income $3,865

Other Revenue $850

TOTAL REVENUE $296,880

Expense Breakdown

Grants Paid $0

Salaries & Benefits $44,912

Fundraising Expenses $0

Program Expenses $207,086

Other Expenses $210,085

TOTAL EXPENSES $254,997

Year-over-Year Comparison

	2024	2023	Change
Revenue	$296,880	$253,867	+0.2%
Expenses	$254,997	$225,169	+0.1%
Net Income	$41,883	$28,698	+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

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
JOHN CUNNINGHAM	COMMODORE	2.00	Officer Director	$0	$0	$0
STEVE KUNZ	VICE COMMODORE	2.00	Officer Director	$0	$0	$0
MICHAEL SONGER	2ND VICE COMM.	2.00	Officer Director	$0	$0	$0
DONALD YOUNKIN	Treasurer	2.00	Officer Director	$0	$0	$0
JAMES FITZSIMMONS	Secretary	2.00	Officer Director	$0	$0	$0
DAVID FAUS	Trustee	1.00	Director	$0	$0	$0
DORY GASOREK	Trustee	1.00	Director	$0	$0	$0
PHILLIP KUNZ	Trustee	1.00	Director	$0	$0	$0
JOSEPH MCGINNIS	Trustee	1.00	Director	$0	$0	$0
PETER MENNINGER	Trustee	1.00	Director	$0	$0	$0
AILEEN O'DRISCOLL	Trustee	1.00	Director	$0	$0	$0
MICHAEL SADOWSKI	Trustee	1.00	Director	$0	$0	$0
JOHN SCHAEFFER	Trustee	1.00	Director	$0	$0	$0
STEPHEN WRIGHT	Trustee	1.00	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
2025	$296,880	$254,997	$384,325	$41,883
2024	$253,867	$225,169	$342,442	$28,698
2023	$249,188	$220,405	$313,744	$28,783
2022	$222,235	$265,037	$284,961	$-42,802
2021	$241,714	$204,978	$327,763	$36,736
2020	$107,349	$96,605	$291,028	$10,744
2019	$217,106	$197,545	$280,019	$19,561
2018	$209,208	$220,846	$260,458	$-11,638