INVERNESS RECREATION CLUB INC

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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

1971

Legal Domicile

Principal Officer

MICHAEL D SPECHT

Phone

3019838813

Tax Period

2024-10-01 to 2025-09-30

INVERNESS RECREATION CLUB INC, founded in 1971, is a small nonprofit that reported $374K in total revenue in fiscal year 2024. Revenue fell 21% from the prior year — a significant decline worth monitoring.

Mission

AN ASSOCIATION OF AREA HOMEOWNERS FOR THE PURPOSE OF PROVIDING RECREATION AND SOCIAL ACTIVITIES.

Program Service Accomplishments

Program 1

INVERNESS RECREATION CLUB, INC. WAS FORMED AS AN ASSOCIATION OF AREA HOMEOWNERS FOR THE PURPOSE OF PROVIDING RECREATION AND SOCIAL ACTIVITIES FOR 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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $297,328

Program Service Revenue $69,350

Investment Income $0

Other Revenue $7,615

TOTAL REVENUE $374,293

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $398,352

TOTAL EXPENSES $398,352

Year-over-Year Comparison

	2024	2023	Change
Revenue	$374,293	$475,737	-0.2%
Expenses	$398,352	$483,702	-0.2%
Net Income	$-24,059	$-7,965	+2.0%

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

N/A

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JAY PEARSON	MEMBER	1.00	Director	$0	$0	$0
MAURA KILNER	MEMBER	1.00	Director	$0	$0	$0
MICHAEL SPECHT	Treasurer	1.00	Officer Director	$0	$0	$0
AZIZ ARAJI	Secretary	1.00	Officer Director	$0	$0	$0
JOSH DENNEY	President	1.00	Officer Director	$0	$0	$0
JOHN SORRENTI	Vice President	1.00	Officer Director	$0	$0	$0
ARUNI LIYANAGE	MEMBER	1.00	Director	$0	$0	$0
DREW PALISAN	MEMBER	1.00	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
2025	$374,293	$398,352	$355,818	$-24,059
2024	$475,737	$483,702	$390,428	$-7,965
2023	$501,834	$430,440	$420,311	$71,394
2022	$317,690	$279,910	$411,654	$37,780
2021	$234,889	$239,802	$373,346	$-4,913
2020	$101,703	$191,105	$396,162	$-89,402