THE LOUISVILLE BOAT CLUB

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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

1946

Legal Domicile

Principal Officer

MICHELLE BLACK WHITE

Phone

5028960375

Tax Period

2024-10-01 to 2025-09-30

THE LOUISVILLE BOAT CLUB, founded in 1946, is a community nonprofit that reported $2.6M in total revenue in fiscal year 2024. Revenue decreased 17% compared to the prior year.

Mission

THE LOUISVILLE BOAT CLUB IS COMMITTED TO A LONG STANDING TRADITION OF BUILDING LASTING RELATIONSHIPS WITH OUR MEMBERSHIP, ESTABLISHING PRIDE IN BELONGING BY OFFERING SPORTING AND SOCIAL PURSUITS OF THE HIGHEST CALIBER MEMBER INVOLVEMENT, QUALITY STANDARDS AND CONTINUOUS GROWTH ARE PARAMOUNT, TO ENRICH THE LIFESTYLES OF OUR MEMBERS AND THEIR FAMILIES.

Program Service Accomplishments

Program 1

PROVIDE BOATING, SWIMMING, TENNIS, PICKLEBALL, SQUASH, FITNESS AND DINING SERVICE TO ITS MEMBERS IN THEIR PURSUIT OF PLEASURE, RECREATION AND FELLOWSHIP.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $2,324,530

Investment Income $-48,634

Other Revenue $307,109

TOTAL REVENUE $2,583,005

Expense Breakdown

Grants Paid $0

Salaries & Benefits $1,416,252

Fundraising Expenses $0

Other Expenses $1,381,058

TOTAL EXPENSES $2,797,310

Year-over-Year Comparison

	2024	2023	Change
Revenue	$2,583,005	$3,106,508	-0.2%
Expenses	$2,797,310	$3,099,078	-0.1%
Net Income	$-214,305	$7,430	-29.8%

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

101

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

$233,637

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHELLE BLACK WHITE	PRESIDENT	2.00	Officer Director	$0	$0	$0
HENRY KELSEY	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
CHRISTOPHER SCHAEFER	TREASURER	2.00	Officer Director	$0	$0	$0
WAYNE WILSON	SECRETARY	2.00	Officer Director	$0	$0	$0
KATE HUFF	DIRECTOR	2.00	Director	$0	$0	$0
DEANNA GORDINIER	DIRECTOR	2.00	Director	$0	$0	$0
ERIN EGGERS FIDLER	DIRECTOR	2.00	Director	$0	$0	$0
TOM SCOVIL	DIRECTOR	2.00	Director	$0	$0	$0
MILES MUSSETTER	DIRECTOR	2.00	Director	$0	$0	$0
TOM CAMPBELL	PAST PRESIDENT	2.00	Director	$0	$0	$0
STEVE MCCOMBS	DIRECTOR	2.00	Director	$0	$0	$0
JENNIFER KAISER	DIRECTOR OF FINANCE AND HR	45.00	Officer	$94,507	$12,655	$107,162
SARAH RUSSELL	GENERAL MANAGER	45.00	Officer	$121,509	$4,966	$126,475
LEE SCOTT	DIRECTOR OF SQUASH	45.00	Highest	$132,034	$9,410	$141,444
GEORGE HENRY	ASSISTANT MANAGER	45.00	Highest	$117,252	$6,582	$123,834
TRAVIS CURRAN	DIRECTOR OF TENNIS AND PICKLEBALL	45.00	Highest	$127,969	$14,758	$142,727

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	$2,583,005	$2,797,310	$3,510,104	$-214,305
2024	$3,106,508	$3,099,078	$3,411,723	$7,430
2023	$3,203,020	$3,334,893	$3,523,014	$-131,873
2022	$3,049,347	$3,037,607	$3,570,772	$11,740
2021	$2,652,143	$2,665,473	$3,475,974	$-13,330
2020	$2,267,014	$2,420,781	$3,495,020	$-153,767
2019	$2,746,461	$2,683,421	$3,513,236	$63,040
2018	$3,909,904	$3,042,409	$4,052,153	$867,495