CHARLESTON OCEAN RACING ASSOCIATION (EIN 576079578) - Form 990 Financial Analysis & Trantor Score

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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

1991

Legal Domicile

Principal Officer

KRISTEN BUCKLEY

Phone

8436978635

Tax Period

2022-10-01 to 2023-09-30

CHARLESTON OCEAN RACING ASSOCIATION, founded in 1991, is a small nonprofit in the Education sector that reported $102K in total revenue in fiscal year 2022. Revenue fell 68% from the prior year — a significant decline worth monitoring. Expenses of $166K exceeded revenue, resulting in a 63% operating deficit.

Mission

THE PRIMARY OBJECTIVES OF THIS ASSOCIATION ARE TO PROMOTE SAILING, TO ENCOURAGE GOOD FELLOWSHIP AMONG SAILORS, AFLOAT AND ASHORE, TO ASSIST BOAT OWNER MEMEBERS TO OBTAIN COMPETENT AND CONGENIALS CREWS, AMONG OTHER THINGS

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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 (2022)

Revenue Breakdown

Contributions & Grants $35,328

Program Service Revenue $64,965

Investment Income $1,944

Other Revenue $0

TOTAL REVENUE $102,237

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $153,308

Other Expenses $166,184

TOTAL EXPENSES $166,184

Year-over-Year Comparison

	2022	2021	Change
Revenue	$102,237	$315,240	-0.7%
Expenses	$166,184	$316,611	-0.5%
Net Income	$-63,947	$-1,371	+45.6%

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHRISTOPHER STINSON	PAST COMMODORE	002.00	Officer	$0	$0	$0
JAMES O'CONNOR	COMMODORE	002.00	Officer	$0	$0	$0
KRISTEN BUCKLEY	TREASURER	002.00	Officer	$0	$0	$0
JOHN LUCAS	MEASURER	002.00	Officer	$0	$0	$0
ALLISON HANSEN	SECRETARY	002.00	Officer	$0	$0	$0
DAN MACHOWSKI	HISTORIAN	002.00	Officer	$0	$0	$0
TIM VIENNEAU	REAR COMMODORE	002.00	Officer	$0	$0	$0
SCOTT STROTHER	VICE COMMODORE	002.00	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	No data	No data	No data	No data
2023	$102,237	$166,184	$342,765	$-63,947
2023	$14,293	$56,435	$300,623	$-42,142
2022	$315,240	$316,611	$406,712	$-1,371
2021	$258,349	$241,719	$409,089	$16,630
2019	$506,724	$447,479	$475,900	$59,245
2018	$512,252	$441,113	$416,655	$71,139

CHARLESTON OCEAN RACING ASSOCIATION