STONINGTON HARBOR YACHT CLUB INCOR… - Form 990 Financial Data

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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

2002

Legal Domicile

Principal Officer

HELEN GARTEN

Phone

8605350112

Tax Period

2023-01-01 to 2023-12-31

STONINGTON HARBOR YACHT CLUB INCORPORATED, founded in 2002, is a community nonprofit in the Recreation & Sports sector that reported $1.1M in total revenue in fiscal year 2023. Revenue decreased 10% compared to the prior year.

Mission

STONINGTON HARBOR YACHT CLUB IS A MEMBER ORGANIZATION PROMOTING EXCELLENCE IN BOATING THROUGHOUT THE COMMUNITY. THE CLUB OPERATES YEAR ROUND OFFERING A BROAD RANGE OF BOATING ACTIVITIES AND EVENTS SUCH AS RACING, CRUISING, FISHING, KAYAKING, EDUCATIONAL PROGRAMS, SOCIAL EVENTS, DOCK FACILITIES AND DINING.

Program Service Accomplishments

Program 1

THE CLUB OFFERS A RANGE OF ON WATER ACTIVITIES, INCLUDING SAILBOAT RACING, RECREATIONAL SAILING, AN OAR AND PADDLE PROGRAM, EVENTS FOR SMALL POWER BOATS, CRUISES OF VARIOUS LENGTH FOR BOTH SAIL AND POWER BOATS AND INSTRUCTIONAL AND SAFETY PROGRAMS DESIGNED TO SUPPORT ITS ON WATER ACTIVITIES. THESE PROGRAMS SAW SIGNIFICANT PARTICIPATION AND GROWTH. THE CLUB HAS BEEN ABLE TO SUPPORT THE COMMUNITY BY ALLOWING COMMUNITY PARTICIPATION IN MANY OF THESE PROGRAMS, AS WELL AS MAKING ITS IDEAL 18 FLEET AND SUPPORT BOATS AVAILABLE FOR THE CONNECTICUT SPECIAL OLYMPICS PROGRAM TO TRAIN SAILORS AND PROVIDE THE FACILITIES FOR ITS ANNUAL REGATTA. ITS RACE COMMITTEE AND ASSOCIATED BOATS ARE ROUTINELY MADE AVAILABLE TO CONDUCT RACES OPEN TO NON-MEMBERS.

Program 2

THE CLUB MAKES AVAILABLE FLOATING DOCK SPACE ON STONINGTON HARBOR FOR BOATERS PASSING THROUGH STONINGTON AS WELL AS TO SUPPORT THE CLUB'S OWN FLEET. THE CLUB'S DINING AND OTHER FACILITIES ARE MADE...

THE CLUB MAKES AVAILABLE FLOATING DOCK SPACE ON STONINGTON HARBOR FOR BOATERS PASSING THROUGH STONINGTON AS WELL AS TO SUPPORT THE CLUB'S OWN FLEET. THE CLUB'S DINING AND OTHER FACILITIES ARE MADE AVAILABLE TO TRANSIENT BOATERS. THE CLUB HAS RECEIVED EXCELLENT REVIEWS FROM INDIVIDUAL TRANSIENTS AS WELL AS VISITING YACHT CLUBS.

Program 3

THE CLUB OPERATES ITS CLUBHOUSE YEAR ROUND TO PROVIDE MEMBERS AN OPPORTUNITY TO SOCIALIZE. A WIDE VARIETY OF EVENTS ARE HELD AT THE CLUBHOUSE, INCLUDING GENERAL EDUCATIONAL EVENTS AND EVENTS FOCUSED ON DEVELOPING SEAMANSHIP SKILLS TO SUPPORT MORE PROFICIENT, ENJOYABLE, AND SAFER BOATING. ITS EDUCATIONAL PROGRAMS ARE GENERALLY OPEN TO THE PUBLIC AS PART OF THE CLUB'S COMMITMENT TO SERVE THE COMMUNITY.

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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 $715,017

Program Service Revenue $1,783

Investment Income $3,742

Other Revenue $361,706

TOTAL REVENUE $1,082,248

Expense Breakdown

Grants Paid $0

Salaries & Benefits $656,331

Fundraising Expenses $0

Other Expenses $526,531

TOTAL EXPENSES $1,182,862

Year-over-Year Comparison

	2023	2022	Change
Revenue	$1,082,248	$1,197,384	-0.1%
Expenses	$1,182,862	$1,287,465	-0.1%
Net Income	$-100,614	$-90,081	+0.1%

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

120

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
KATHERINE BALLARD	GOVERNOR	N/A	Director	$0	$0	$0
JAY BENET	GOVERNOR	N/A	Director	$0	$0	$0
ANN BALDELLI	COMMODORE	N/A	Officer Director	$0	$0	$0
TED BECK	REAR COMMODO	N/A	Officer Director	$0	$0	$0
JILL CORR	GOVERNOR	N/A	Director	$0	$0	$0
CHRIS GEFAELL	GOVERNOR	N/A	Director	$0	$0	$0
MATT GIMPLE	GOVERNOR	N/A	Director	$0	$0	$0
HELEN GARTEN	TREASURER	N/A	Officer Director	$0	$0	$0
RICK GIBBONS	SECRETARY	N/A	Officer Director	$0	$0	$0
MONICA HALLISEY	FLEET CAPTAI	N/A	Director	$0	$0	$0
MARK SCOTT	GOVERNOR	N/A	Director	$0	$0	$0
SARAH STARKWEATHER	VICE COMMODO	N/A	Officer Director	$0	$0	$0
TRISH WATSON	QUARTERMASTE	N/A	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	$1,082,248	$1,182,862	$2,035,897	$-100,614
2022	$1,197,384	$1,287,465	$2,121,402	$-90,081
2021	$1,066,596	$1,060,298	$2,289,964	$6,298
2020	$431,540	$937,158	$2,268,663	$-505,618
2019	$1,137,288	$1,205,493	$2,745,207	$-68,205
2018	$1,099,794	$1,298,399	$2,855,143	$-198,605

STONINGTON HARBOR YACHT CLUB INCORPORATED