Lake Michigan Yacht Club Inc (EIN 350329335) - 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

1972

Legal Domicile

Principal Officer

Gary Weglarz

Phone

3126236200

Tax Period

2024-01-01 to 2024-12-31

Lake Michigan Yacht Club Inc, founded in 1972, is a small nonprofit that reported $518K in total revenue in fiscal year 2024. Revenue fell 22% from the prior year — a significant decline worth monitoring. Net assets of $2.4M represent 56 months of operating reserves.

Mission

Yacht Club and Social Club

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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 $433,027

Program Service Revenue $0

Investment Income $1,646

Other Revenue $83,523

TOTAL REVENUE $518,196

Expense Breakdown

Grants Paid $0

Salaries & Benefits $44,804

Fundraising Expenses $0

Program Expenses $60,422

Other Expenses $499,207

TOTAL EXPENSES $544,011

Year-over-Year Comparison

	2024	2023	Change
Revenue	$518,196	$667,941	-0.2%
Expenses	$544,011	$468,405	+0.2%
Net Income	$-25,815	$199,536	-1.1%

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

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
Jerry Clifford	Rear Commodore	5.00	Director	$0	$0	$0
Jerry Looney	Commodore	5.00	Director	$0	$0	$0
Jay Mandel	Vice Commodore	5.00	Director	$0	$0	$0
Gary Weglarz	Treasurer	5.00	Director	$0	$0	$0
Robert Giammanco	Secretary '	5.00	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
2024	$518,196	$544,011	$2,580,710	$-25,815
2023	$667,941	$468,405	$2,380,258	$199,536
2022	$455,377	$383,268	$2,135,731	$72,109
2021	$460,294	$344,218	$2,009,745	$116,076

Lake Michigan Yacht Club Inc