Solomons Island Yacht Club Inc

EIN: 520577592

Solomons, MD

Total Revenue
$452,885
Total Expenses
$414,562
Total Assets
$1,881,571
Net Assets
$1,379,874
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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
1937
Legal Domicile
MD
Phone
4103263718
Tax Period
2024-01-01 to 2024-12-31

Solomons Island Yacht Club Inc, founded in 1937, is a small nonprofit that reported $453K in total revenue in fiscal year 2024. Expenses of $415K left a modest 8% surplus.

Mission

PROVIDE COMRADERIE & FELLOWSHIP OF 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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $269,440
Program Service Revenue $56,068
Investment Income $5,986
Other Revenue $121,391
TOTAL REVENUE $452,885

Expense Breakdown

Grants Paid $1,000
Salaries & Benefits $187,810
Fundraising Expenses $0
Other Expenses $225,752
TOTAL EXPENSES $414,562

Year-over-Year Comparison

2024 2023 Change
Revenue $452,885 $427,752 +0.1%
Expenses $414,562 $384,487 +0.1%
Net Income $38,323 $43,265 -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

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Governance

Voting Members
22
Independent Members
22
Employees
25
Volunteers
40

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
4
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
BARBARA RALEY COMMODORE 10.00
Officer
$0 $0 $0
GARY HEAL VICE COMMODORE 10.00
Officer
$0 $0 $0
DIANE TOWNSEND SECRETARY 10.00
Officer
$0 $0 $0
MICHAEL SNAPP TREASURER 10.00
Officer
$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 $452,885 $414,562 $1,881,571 $38,323
2023 $427,752 $384,487 $1,896,016 $43,265
2022 $342,445 $344,760 $1,901,475 $-2,315
2021 $381,049 $302,062 $1,923,258 $78,987
2020 $260,935 $226,548 $1,859,532 $34,387
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