SEA ISLAND YACHT CLUB SEA ISLAND YACHT CLUB

EIN: 570722009 Recreation & Sports

WADMALAW ISLAND, SC

Total Revenue
$330,066
Total Expenses
$338,779
Total Assets
$2,979,982
Net Assets
$2,979,982
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2003
Legal Domicile
SC
Principal Officer
C MURRY THOMPSON JR
Phone
8435776641
Tax Period
2023-01-01 to 2023-12-31

SEA ISLAND YACHT CLUB SEA ISLAND YACHT CLUB, founded in 2003, is a small nonprofit in the Recreation & Sports sector that reported $330K in total revenue in fiscal year 2023. Revenue grew 10% year-over-year, indicating healthy expansion. Net assets of $3.0M represent 108 months of operating reserves.

Mission

THE PURPOSE OF THE CLUB SHALL BE TO BRING THE PEOPLE OF WADMALAW ISLAND, JOHNS ISLAND, CHARLESTON, AND ALL OTHER AREAS TOGETHER FOR THE SPORT AND FESTIVITIES CONNECTED WITH AMATEUR YACHT RACING AND FOR OTHER SOCIAL, BENEVOLENT, AND RECREATIONAL PURPOSES AND FOR OTHER ENTERTAINMENT AS MAY BE DERIVED FROM THE USE OF THE LAND, WHARF, AND BUILDING OF THE SEA ISLAND YACHT CLUB LOCATED AT ROCKVILLE. FOR MANY YEARS NOW, THIS CLUB HAS SPONSORED EVENTS FOR ITS MEMBERS TO INCLUDE: MOTHER' DAY DINNER, FATHER'S DAY FISH FRY DINNER, OYSTER ROAST, THE ANNUAL SEA ISLAND SUMMER REGATTA IN THE FIRST WEEKEND OF AUGUST EACH YEAR. FURTHER, IT HAS DINNERS AND DANCES FOR ITS 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 (2023)

Revenue Breakdown

Contributions & Grants $156,780
Program Service Revenue $149,463
Investment Income $4,823
Other Revenue $19,000
TOTAL REVENUE $330,066

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $302,440
Other Expenses $338,779
TOTAL EXPENSES $338,779

Year-over-Year Comparison

2023 2022 Change
Revenue $330,066 $300,971 +0.1%
Expenses $338,779 $271,561 +0.2%
Net Income $-8,713 $29,410 -1.3%
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
13
Independent Members
13
Employees
N/A
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
4
$0
Total Directors
14
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
C MURRY THOMPSON JR COMMODORE 3.00
Officer Director
$0 $0 $0
GINNI QUISENBERRY VICE COMMODO 2.00
Officer Director
$0 $0 $0
PRESTON WILSON TREASURER 3.00
Officer Director
$0 $0 $0
KARIE ANN CROWTHER SECRETARY 1.00
Officer Director
$0 $0 $0
DAVID P HILL PAST COMMODO 1.00
Director
$0 $0 $0
MAYNARD BALL BOARD MEMBER 1.00
Director
$0 $0 $0
FREDERICK J SCHAFFER PAST COMMODO N/A
Director
$0 $0 $0
FREDERICK J SCHAFFER PAST COMMODO 1.00
Director
$0 $0 $0
JOHN SMOAK BOARD MEMBER 1.00
Director
$0 $0 $0
MANDY REID BOARD MEMBER 1.00
Director
$0 $0 $0
FORD P MENEFEE BOARD MEMBER 1.00
Director
$0 $0 $0
BRADLEY SIMMONS BOARD MEMBER 1.00
Director
$0 $0 $0
ELIZABETH BERNAT BOARD MEMBER 1.00
Director
$0 $0 $0
REBECCA DAVIS WARREN BOARD 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
2024 No data No data No data No data
2023 $330,066 $338,779 $2,979,982 $-8,713
2022 $300,971 $271,561 $2,988,695 $29,410
2021 $237,900 $218,818 $2,959,285 $19,082
2020 $171,285 $150,592 $2,940,202 $20,693
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