MENTOR HARBOR YACHTING 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 DUER

Phone

4402577214

Tax Period

2023-11-01 to 2024-10-31

MENTOR HARBOR YACHTING CLUB, founded in 1928, is a community nonprofit that reported $2.5M in total revenue in fiscal year 2023. Expenses of $2.3M left a modest 6% surplus.

Mission

TO PROMOTE AND ENCOURAGE YACHTING AND SPORTING ACTIVITIES AND MAINTAINING A CLUB FOR THE SOCIAL ENJOYMENT OF ITS MEMBERS. ALSO TO OFFER ITS MEMBERS AND THEIR CHILDREN THE OPPORTUNITY TO DEVELOP AND NURTURE SPECIAL INTERESTS AND LEARN VALUABLE NEW SKILLS IN A RELAXED, FRIENDLY ENVIRONMENT.

Program Service Accomplishments

Program 1

PROVIDES HARBORING SERVICES TO MEMBERS OF THE CLUB. HARBORING SERVICES INCLUDE DOCKING, FUELING, OIL CHANGES, BATTERY REPLACEMENTS, WINTER STORAGE AND RESTAURANT SERVICE. COSTS OF THESE SERVICES...

PROVIDES HARBORING SERVICES TO MEMBERS OF THE CLUB. HARBORING SERVICES INCLUDE DOCKING, FUELING, OIL CHANGES, BATTERY REPLACEMENTS, WINTER STORAGE AND RESTAURANT SERVICE. COSTS OF THESE SERVICES INCLUDE GASOLINE, OIL, DOCK MAINTENANCE, DOCK STEPS, BATTERIES, FOOD AND SUPPLIES AND PAYROLL COSTS FOR EMPLOYEES. PAYROLL COSTS ARE FOR SERVICES PERFORMED SUCH AS LAUNCHING AND HAULING OUT BOATS WHEN NEEDED, PUMPING GAS, AND PREPARING BOATS FOR WINTER STORAGE.

Program 2

PROVIDES ENTERTAINMENT ACTIVITIES FOR CHILDREN OF MEMBERS. JUNIOR SERVICES INCLUDE HOSTING AND RUNNING THREE ORGANIZATIONS WHICH FACILITATE THE LEARNING OF AQUATIC ACTIVITIES. COSTS OF PROVIDING SUCH SERVICES INCLUDE PAYROLL FOR ORGANIZATION DIRECTORS AND MISCELLANEOUS EXPENSES RELATED TO SAILING, BOATING, AND SWIMMING.

Program 3

PROVIDES CHANNELING SERVICES FOR MEMBERS OF THE CLUB AND THE CITY OF MENTOR. CHANNELING SERVICES INCLUDE THE REMOVAL, TRANSPORTATION, AND PLACEMENT AND TREATMENT OF SOIL FROM THE MARINE ENVIRONMENT.

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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 $0

Program Service Revenue $1,841,229

Investment Income $3,491

Other Revenue $655,756

TOTAL REVENUE $2,500,476

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,094,890

Fundraising Expenses $0

Other Expenses $1,253,935

TOTAL EXPENSES $2,348,825

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,500,476	$2,318,182	+0.1%
Expenses	$2,348,825	$2,461,470	0.0%
Net Income	$151,651	$-143,288	-2.1%

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

$212,648

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KENNETH BALOGH	PAST COMMODORE	1.00	Director	$0	$0	$0
CRAIG RICHMOND	SECRETARY	1.00	Officer Director	$0	$0	$0
JON DUER	COMMODORE	1.00	Officer Director	$0	$0	$0
DAVE SCARNATI	VICE COMMODORE	1.00	Officer Director	$0	$0	$0
BRIAN KECK	REAR COMMODORE/TREASURER	2.00	Officer Director	$0	$0	$0
CHRISTIAN LIM	DIRECTOR	1.00	Director	$0	$0	$0
SCOTT SAVAGE	DIRECTOR	1.00	Director	$0	$0	$0
JAMES PRUCE	DIRECTOR	1.00	Director	$0	$0	$0
JOHN PATKA	DIRECTOR	1.00	Director	$0	$0	$0
CHARLES CERANKOSKY	DIRECTOR	1.00	Director	$0	$0	$0
STEPHEN GOCZO	GENERAL MANAGER	40.00	Officer	$118,302	$0	$118,302
KENNETH SULLIVAN	CONTROLLER	40.00	Officer	$94,346	$0	$94,346

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	$2,500,476	$2,348,825	$3,150,890	$151,651
2023	$2,318,182	$2,461,470	$3,208,350	$-143,288
2022	$2,298,762	$2,171,494	$3,455,036	$127,268
2021	$2,411,035	$1,983,288	$3,267,565	$427,747
2020	$1,705,320	$1,824,784	$3,041,481	$-119,464
2019	$1,519,122	$1,565,154	$3,002,827	$-46,032
2018	$1,458,261	$1,629,118	$3,111,653	$-170,857