OCEAN GATE YACHT CLUB INC

EIN: 521821317

OCEAN GATE, NJ

Total Revenue
$249,767
Total Expenses
$243,068
Total Assets
$361,361
Net Assets
$361,361
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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
1909
Legal Domicile
NJ
Principal Officer
STEPHEN SHARPE
Phone
2158704729
Tax Period
2024-10-01 to 2025-09-30

OCEAN GATE YACHT CLUB INC, founded in 1909, is a small nonprofit that reported $250K in total revenue in fiscal year 2024. Revenue decreased 5% compared to the prior year.

Mission

PROMOTE YACHTING AND ROWING FOSTER ATHLETIC SPORTS UPON THE WATER PROMOTE THE INTEREST AND WELFARE OF THE OCEAN GATE COMMUNITY

Program Service Accomplishments

Program 1
Expenses: $219,064

SERVICES SOCIAL CLUB FOR THE MUTUAL ENJOYMENT AND REPRESENTATION OF YACHTING. CLUB HOUSE FACILITIES ARE ALSO PROVIDED TO MEMBERS. THEY SPONSOR SAILING AND SWIMMING LESSONS TO CHILDREN.

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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 $12,099
Program Service Revenue $231,323
Investment Income $1,141
Other Revenue $5,204
TOTAL REVENUE $249,767

Expense Breakdown

Grants Paid $1,099
Salaries & Benefits $66,263
Fundraising Expenses $0
Program Expenses $219,064
Other Expenses $175,706
TOTAL EXPENSES $243,068

Year-over-Year Comparison

2024 2023 Change
Revenue $249,767 $263,342 -0.1%
Expenses $243,068 $262,940 -0.1%
Net Income $6,699 $402 +15.7%
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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Governance

Voting Members
12
Independent Members
12
Employees
12
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
6
$0
Total Directors
12
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JOHN FRY TRUSTEE N/A
Director
$0 $0 $0
EILEEN KING TRUSTEE N/A
Director
$0 $0 $0
MELISSA CORSON TRUSTEE N/A
Director
$0 $0 $0
DAVID SIKORA VICE COMMODORE N/A
Officer Director
$0 $0 $0
ASHLEY MOLL TRUSTEE N/A
Director
$0 $0 $0
HEATHER ANDOLSEN COMMODORE N/A
Officer Director
$0 $0 $0
ASHLEE PEDRICK TRUSTEE N/A
Director
$0 $0 $0
STEPHEN SHARPE TREASURER N/A
Officer Director
$0 $0 $0
SUSAN LEAHY RECORDING SECRETARY N/A
Officer Director
$0 $0 $0
NANCY FOOTE TRUSTEE N/A
Director
$0 $0 $0
ROSEMARY MASTRONARDY CORRESPONDING SECRETARY N/A
Officer Director
$0 $0 $0
JANET COPPOLINO READ COMMODORE N/A
Officer 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 $249,767 $243,068 $361,361 $6,699
2024 $263,342 $262,940 $394,062 $402
2023 $211,487 $260,698 $354,260 $-49,211
2022 $239,453 $216,743 $403,471 $22,710
2021 $203,198 $209,122 $380,761 $-5,924
2020 $173,820 $168,932 $386,685 $4,888
2019 $217,684 $221,626 $381,797 $-3,942
2018 $193,632 $207,554 $385,739 $-13,922
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