GIG HARBOR JUNIOR SAILING

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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

2010

Legal Domicile

Principal Officer

JOAN STORKMAN

Phone

2538511807

Tax Period

2024-01-01 to 2024-12-31

GIG HARBOR JUNIOR SAILING, founded in 2010, is a small nonprofit in the Recreation & Sports sector that reported $470K in total revenue in fiscal year 2024. Expenses of $445K left a modest 5% surplus.

Mission

OUR PROGRAMS DEVELOP LOCAL SAILORS AT ALL SKILL LEVELS AND CHALLENGE THEM TO ACHIEVE CONFIDENCE AND INDEPENDENCE ON THE WATER.

Program Service Accomplishments

Program 1

Expenses: $444,678 Revenue: $349,639

LEARN-TO-SAIL PROGRAMS FOR YOUTH AGES 6 TO 18. TEACH THE BASICS TO BEGINNING SAILORS AND BUILD ON PRIOR EXPERIENCE AS PARTICIPANTS ADVANCE THROUGH THE PROGRAM. MIDDLE AND HIGH SCHOOL AGED STUDENTS...

LEARN-TO-SAIL PROGRAMS FOR YOUTH AGES 6 TO 18. TEACH THE BASICS TO BEGINNING SAILORS AND BUILD ON PRIOR EXPERIENCE AS PARTICIPANTS ADVANCE THROUGH THE PROGRAM. MIDDLE AND HIGH SCHOOL AGED STUDENTS, REGARDLESS OF ATHLETIC ABILITY, ALSO HAVE THE OPPORTUNITY TO LEARN, GROW AND COMPETE IN NORTHWEST YOUTH REGATTAS THROUGHOUT THE YEAR.

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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 $40,935

Program Service Revenue $341,759

Investment Income $7,880

Other Revenue $79,738

TOTAL REVENUE $470,312

Expense Breakdown

Grants Paid $0

Salaries & Benefits $279,681

Fundraising Expenses $0

Program Expenses $444,678

Other Expenses $164,997

TOTAL EXPENSES $444,678

Year-over-Year Comparison

	2024	2023	Change
Revenue	$470,312	$471,379	0.0%
Expenses	$444,678	$417,811	+0.1%
Net Income	$25,634	$53,568	-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

$109,387

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JOAN STORKMAN	PROGRAM DIRECTOR	10.00	Director	$0	$0	$0
KATHLEEN CARLSON	ASST PROGRAM DIRECTOR	2.00	Director	$0	$0	$0
MARIO LEE	TREASURER	4.00	Director	$0	$0	$0
PETE CLEMENT	FACILITIES	2.00	Director	$0	$0	$0
GREG HOEKSEMA	PERSONNEL DIRECTOR	2.00	Director	$0	$0	$0
TOM GREETHAM	INVESTMENT OFFICER	2.00	Director	$0	$0	$0
GREG OLSEN	FLEET MANAGER	5.00	Director	$0	$0	$0
MARY THEO HOEKSEMA	EQUIPMENT & INVENTORY	2.00	Director	$0	$0	$0
DALE REIMAN	BOAT DONATION DIRECTOR	4.00	Director	$0	$0	$0
LISA EMBRICK	NRT PARENT REPRESENTATIVE	2.00	Director	$0	$0	$0
ABRA JACKSON	AUCTION CHAIR	2.00	Director	$0	$0	$0
ASHLEY NELSON	SAILING DIRECTOR (NON-VOTING)	40.00	Director	$59,518	$0	$59,518
NICHOLAS TWILLA	ASST SAILING DIRECTOR (NON-VOTING)	40.00	Director	$49,869	$0	$49,869

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	$470,312	$444,678	$293,906	$25,634
2023	$471,379	$417,811	$273,464	$53,568
2022	$415,368	$375,040	$213,843	$40,328
2021	$336,939	$327,957	$171,686	$8,982