GREAT HARBOR 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

2003

Legal Domicile

Principal Officer

STEPHEN CREESE

Phone

5086805033

Tax Period

2024-01-01 to 2024-12-31

GREAT HARBOR YACHT CLUB INC, founded in 2003, is a mid-sized nonprofit in the Recreation & Sports sector that reported $10.8M in total revenue in fiscal year 2024. Revenue grew 19% year-over-year, indicating healthy expansion. Expenses of $14.0M exceeded revenue, resulting in a 30% operating deficit.

Mission

THE PURPOSE OF THE CLUB IS TO ENCOURAGE SAILING, ANGLING AND BOATING AND TO PROVIDE RECREATIONAL, EDUCATIONAL AND SOCIAL ACTIVITIES FOR ITS MEMBERS AND THEIR FAMILIES AND GUESTS.

Program Service Accomplishments

Program 1

THE FOOD & BEVERAGE PROGRAM WAS AVAILABLE TO MEMBERS 7 DAYS A WEEK FROM EARLY JUNE THRU SEPTEMBER WITH OTHER SPECIAL EVENTS HELD IN THE SHOULDER SEASON. THIS PROGRAM SERVED OVER 350 MEMBERSHIPS...

THE FOOD & BEVERAGE PROGRAM WAS AVAILABLE TO MEMBERS 7 DAYS A WEEK FROM EARLY JUNE THRU SEPTEMBER WITH OTHER SPECIAL EVENTS HELD IN THE SHOULDER SEASON. THIS PROGRAM SERVED OVER 350 MEMBERSHIPS, THEIR FAMILIES AND GUESTS.

Program 2

THE TENNIS & SWIM PROGRAM IS AVAILABLE TO MEMBERS DURING THE SEASON FROM MID-JUNE THROUGH EARLY SEPTEMBER. OVER 150 MEMBERSHIPS HAD PARTICIPATION IN TENNIS & SWIM ACTIVITIES. THIS PROGRAM ALSO SERVES MEMBERS OF JUST THIS FACILITY, AS WELL AS LOCAL MEMBERSHIPS AND SOME MEMBERS OF THE PUBLIC FOR TENNIS PROGRAMS ONLY.

Program 3

THE WATERFRONT FACILITY COVERS ALL ASPECTS OF WATERFRONT SPORTS FOR OUR MEMBERS INCLUDING SAILING LESSONS, SAIL BOAT RACES, KAYAK AND PADDLEBOARD RENTALS. WE HAVE DOCK SPACE FOR SEASONAL AND...

THE WATERFRONT FACILITY COVERS ALL ASPECTS OF WATERFRONT SPORTS FOR OUR MEMBERS INCLUDING SAILING LESSONS, SAIL BOAT RACES, KAYAK AND PADDLEBOARD RENTALS. WE HAVE DOCK SPACE FOR SEASONAL AND TRANSIENT BOAT SLIPS FOR 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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $8,233,089

Investment Income $93,546

Other Revenue $2,428,250

TOTAL REVENUE $10,754,885

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,956,685

Fundraising Expenses $0

Other Expenses $9,060,758

TOTAL EXPENSES $14,017,443

Year-over-Year Comparison

	2024	2023	Change
Revenue	$10,754,885	$9,017,390	+0.2%
Expenses	$14,017,443	$13,111,475	+0.1%
Net Income	$-3,262,558	$-4,094,085	-0.2%

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

170

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

$751,908

Total Directors

Key Employees

$1,271,272

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MATT DWYER	COMMODORE	2.00	Officer Director	$0	$0	$0
PAUL COLLINS	VICE COMMODORE	2.00	Officer Director	$0	$0	$0
SUSAN MCCOLLUM	REAR COMMODORE	2.00	Officer Director	$0	$0	$0
RHONDA MCDONALD	SECRETARY	2.00	Officer Director	$0	$0	$0
WILLIAM EINSTEIN	TREASURER	2.00	Officer Director	$0	$0	$0
ALMOND GODUTI	DIRECTOR	2.00	Director	$0	$0	$0
WILLIAM WITTENBERG	DIRECTOR	2.00	Director	$0	$0	$0
HUGH DAVIS	DIRECTOR	2.00	Director	$0	$0	$0
MARY-LOUISE COHEN	DIRECTOR	2.00	Director	$0	$0	$0
RACHEL SHERIDAN	DIRECTOR	2.00	Director	$0	$0	$0
BRUCE TURNER	DIRECTOR	2.00	Director	$0	$0	$0
CHRIS BREWSTER	DIRECTOR	2.00	Director	$0	$0	$0
STEPHEN CREESE	GENERAL MANAGER	50.00	Officer	$468,916	$28,791	$497,707
KERRY TILTON	CHIEF FINANCIAL OFFICER	40.00	Officer	$225,508	$28,693	$254,201
CHRISTIAN PAVESI	ASSISTANT GENERAL MANAGER	40.00	Key Emp	$441,860	$11,815	$453,675
JOHN LUYRINK	TENNIS & SWIM DIRECTOR	40.00	Key Emp	$270,260	$61,744	$332,004
MEGAN MALTBY	MEMBERSHIP DIRECTOR	40.00	Key Emp	$171,901	$28,461	$200,362
NICHOLAS FIX	HEAD CHEF	40.00	Key Emp	$256,533	$28,698	$285,231
WILLIAM COWZER	FACILITIES MANAGER	50.00	Highest	$140,939	$28,369	$169,308
EMMA CONWAY	WATERFRONT DIRECTOR	40.00	Highest	$123,423	$50,393	$173,816

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	No data	No data	No data	No data
2024	$10,754,885	$14,017,443	$68,079,662	$-3,262,558
2023	$9,017,390	$13,111,475	$64,435,835	$-4,094,085
2022	$9,045,537	$13,168,758	$66,152,546	$-4,123,221
2021	$7,821,481	$11,506,975	$67,641,341	$-3,685,494
2020	$5,584,260	$9,270,875	$66,386,317	$-3,686,615
2019	$7,315,145	$11,056,337	$68,422,913	$-3,741,192
2018	$7,160,769	$13,284,727	$71,727,612	$-6,123,958