Ludington Yacht Club (EIN 261922294) - 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

1958

Legal Domicile

Principal Officer

Steve Leedham

Phone

2318439904

Tax Period

2023-01-01 to 2023-12-31

Ludington Yacht Club, founded in 1958, is a micro nonprofit that reported $55K in total revenue in fiscal year 2023. Revenue fell 34% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $23K, a strong 42% operating margin.

Mission

PROMOTE BOATING ACTIVITIES AND PROVIDING BOAT DOCKAGE AND SOCIAL FUNCTIONS TO 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 $48,161

Program Service Revenue $0

Investment Income $-18,174

Other Revenue $24,799

TOTAL REVENUE $54,786

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $31,713

TOTAL EXPENSES $31,713

Year-over-Year Comparison

	2023	2022	Change
Revenue	$54,786	$83,147	-0.3%
Expenses	$31,713	$111,261	-0.7%
Net Income	$23,073	$-28,114	-1.8%

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

N/A

Volunteers

N/A

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
STEVE LEEDHAM	COMMODORE	5.0	Officer Director	$0	$0	$0
JILL KAINES	VICE COMMODORE	5.0	Officer Director	$0	$0	$0
STEVE CLAIR	REAR COMMODORE	5.0	Officer Director	$0	$0	$0
BRIAN MOORE	REASURER	10.0	Officer Director	$0	$0	$0
DENNIS LAVIS	SECRETARY	10.0	Officer Director	$0	$0	$0
JAMES MCGEE	Director	1.0	Director	$0	$0	$0
ANDY KLEVORN	Director	1.0	Director	$0	$0	$0
STEVE MILLER	Director	1.0	Director	$0	$0	$0
ALEX ZADEL	Director	1.0	Director	$0	$0	$0
LES KAINES	Director	1.0	Director	$0	$0	$0
CONNELLY BOWLING	Director	1.0	Director	$0	$0	$0
ALEX ZAYDEL	Director	1.0	Director	$0	$0	$0
GARY FERGUSON	Director	1.0	Director	$0	$0	$0
JOHN BEREND	Director	1.0	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	$54,786	$31,713	$368,903	$23,073
2022	$82,714	$38,350	$345,830	$44,364
2022	$83,147	$111,261	$345,830	$-28,114
2021	$82,454	$22,766	$373,944	$59,688
2020	$71,819	$112,520	$314,256	$-40,701
2019	$83,649	$100,466	$354,957	$-16,817
2018	$61,272	$26,112	$371,774	$35,160

Ludington Yacht Club