NAPLES SAILING AND YACHT 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

1965

Legal Domicile

Principal Officer

CAROL JOSEPH

Phone

2397740424

Tax Period

2023-10-01 to 2024-09-30

NAPLES SAILING AND YACHT CLUB INC, founded in 1965, is a community nonprofit that reported $6.6M in total revenue in fiscal year 2023. The organization ran a surplus of $2.8M, a strong 43% operating margin.

Mission

NAPLES SAILING & YACHT CLUB, INC. IS A SOCIAL CLUB WHOSE EXEMPT PURPOSE IS TO PROMOTE SOCIAL INTERACTION OF THE CLUB MEMBERS BY PROVIDING DINING AND RECREATIONAL ACTIVITIES.

Program Service Accomplishments

Program 1

THE CLUB PROVIDED DOCKAGE AND SOCIAL ACTIVITIES TO APPROXIMATELY 400 MEMBERS DURING THE YEAR.

Program 2

TOTAL FOOD & BEVERAGE AND MERCHANDISE REVENUE FOR THE YEAR ENDED 09/30/2024 WAS $2,107,749 OF WHICH $505,230 WAS NON-MEMBER RELATED.

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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 $3,566,553

Investment Income $193,869

Other Revenue $2,872,274

TOTAL REVENUE $6,632,696

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,433,498

Fundraising Expenses $0

Other Expenses $2,366,232

TOTAL EXPENSES $3,799,730

Year-over-Year Comparison

	2023	2022	Change
Revenue	$6,632,696	$6,617,191	+0.0%
Expenses	$3,799,730	$5,104,344	-0.3%
Net Income	$2,832,966	$1,512,847	+0.9%

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

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

$128,900

Total Directors

Key Employees

$227,344

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CAROL JOSEPH	COMMODORE	2.00	Officer Director	$0	$0	$0
MIKE MANLEY	VICE COMMODORE	2.00	Officer Director	$0	$0	$0
KELLY FLYNN	DIRECTOR	1.00	Director	$0	$0	$0
DEAN LOHMAN	SECRETARY	2.00	Officer Director	$0	$0	$0
STEVE ARBAUGH	DIRECTOR	1.00	Director	$0	$0	$0
BOB HITT	REAR COMMODORE	2.00	Officer Director	$0	$0	$0
JOHN FERGUS	DIRECTOR	1.00	Director	$0	$0	$0
STEVE WEDEL	DIRECTOR	1.00	Director	$0	$0	$0
MIKE KUTSCH	TREASURER	2.00	Officer Director	$0	$0	$0
BARBARA TEAFORD	DIRECTOR	1.00	Director	$0	$0	$0
EILEEN VOYNICK	DIRECTOR	1.00	Director	$0	$0	$0
CHET TETTA	DIRECTOR	1.00	Director	$0	$0	$0
GREG BARTELS	CONTROLLER	40.00	Officer	$113,573	$15,327	$128,900
MICHAEL MADSEN	HEAD CHEF	40.00	Key Emp	$210,513	$16,831	$227,344
ANN MARIE ASHLINE	DIRECTOR OF MEMBERSHIP	40.00	Highest	$183,016	$0	$183,016
GEORGE MULLER	CLUBHOUSE MANAGER	40.00	Highest	$109,494	$6,925	$116,419
MANUEL BLANCO	FORMER GENERAL MANAGER	52.00		$301,370	$20,013	$321,383

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	$6,632,696	$3,799,730	$14,836,437	$2,832,966
2023	$6,617,191	$5,104,344	$11,479,867	$1,512,847
2022	$5,771,288	$4,758,600	$9,527,871	$1,012,688
2021	$4,615,883	$3,585,366	$8,220,136	$1,030,517
2020	$4,236,729	$3,991,979	$7,438,406	$244,750
2018	$3,145,719	$3,506,113	$6,836,499	$-360,394