NAPLES YACHT CLUB INC (EIN 590904526) - 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

1947

Legal Domicile

Principal Officer

KATHY PARKS KING

Phone

2392626648

Tax Period

2023-10-01 to 2024-09-30

NAPLES YACHT CLUB INC, founded in 1947, is a community nonprofit that reported $10.0M in total revenue in fiscal year 2023. Revenue grew 20% year-over-year, indicating healthy expansion. Expenses of $11.6M exceeded revenue, resulting in a 16% operating deficit.

Mission

THE NAPLES YACHT CLUB (NYC) IS A PRIVATE YACHT AND SOCIAL CLUB ORGANIZED FOR THE PLEASURE AND RECREATION OF 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%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $7,208,577

Investment Income $-125,496

Other Revenue $2,896,825

TOTAL REVENUE $9,979,906

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,818,745

Fundraising Expenses $0

Other Expenses $4,774,344

TOTAL EXPENSES $11,593,089

Year-over-Year Comparison

	2023	2022	Change
Revenue	$9,979,906	$8,329,186	+0.2%
Expenses	$11,593,089	$9,843,995	+0.2%
Net Income	$-1,613,183	$-1,514,809	+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

Governance

Voting Members

Independent Members

Employees

132

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

$711,061

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RICHARD B MAXWELL	COMMODORE	4.00	Officer Director	$0	$0	$0
KATHY P KING	VICE COMMODORE	4.00	Officer Director	$0	$0	$0
JOHN H TISDELL	REAR COMMODORE	4.00	Officer Director	$0	$0	$0
RICHARD P DEL BELLO	TREASURER	4.00	Officer Director	$0	$0	$0
BRADFORD L COWGILL	SECRETARY	4.00	Officer Director	$0	$0	$0
C RUSSELL MCKEE	DIRECTOR (THROUGH 11/29)	2.00	Director	$0	$0	$0
PRESTON BRADFORD	DIRECTOR (AS OF 11/29)	2.00	Director	$0	$0	$0
JOHN A MOISSON	DIRECTOR	2.00	Director	$0	$0	$0
FRANKLIN W CARSON	DIRECTOR	2.00	Director	$0	$0	$0
ROBERT FUNDERBURG JR	DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL KATZ	EXECUTIVE CHEF	40.00	Officer	$236,884	$24,635	$261,519
HALLIE GIRARDEAU	GENERAL MANAGER	40.00	Officer	$244,142	$22,074	$266,216
DONALD HOPKINS	CFO	40.00	Officer	$174,153	$9,173	$183,326
FRANCIS LAMORTE III	SOMMELIER (THROUGH 10/24)	40.00	Highest	$185,268	$924	$186,192
BRENDA O'CONNOR	EXECUTIVE DIRECTOR OF MEMBERSHIP	40.00	Highest	$115,569	$22,547	$138,116

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	$9,979,906	$11,593,089	$28,037,437	$-1,613,183
2023	$8,329,186	$9,843,995	$27,030,250	$-1,514,809
2022	$7,694,247	$8,497,668	$23,135,295	$-803,421
2021	$6,123,873	$7,118,798	$20,807,811	$-994,925
2020	$7,214,404	$6,193,466	$21,572,938	$1,020,938
2018	$2,729,492	$5,684,135	$14,621,089	$-2,954,643

NAPLES YACHT CLUB INC