Somerset Boat Club Inc

EIN: 611107573

Somerset, KY

Total Revenue
$269,679
Total Expenses
$235,521
Total Assets
$295,829
Net Assets
$242,014
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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
1968
Legal Domicile
KY
Phone
6063053130
Tax Period
2024-07-01 to 2025-06-30

Somerset Boat Club Inc, founded in 1968, is a small nonprofit that reported $270K in total revenue in fiscal year 2024. Expenses of $236K left a modest 13% surplus.

Mission

CLUB FOR BOATERS

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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 (2024)

Revenue Breakdown

Contributions & Grants $258,557
Program Service Revenue $0
Investment Income $22
Other Revenue $11,100
TOTAL REVENUE $269,679

Expense Breakdown

Grants Paid $0
Salaries & Benefits $72,346
Fundraising Expenses $0
Program Expenses $235,521
Other Expenses $163,175
TOTAL EXPENSES $235,521

Year-over-Year Comparison

2024 2023 Change
Revenue $269,679 N/A N/A
Expenses $235,521 N/A N/A
Net Income $34,158 N/A N/A
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

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Governance

Voting Members
75
Independent Members
N/A
Employees
3
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
6
$0
Total Directors
0
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RALPH L FARMER Jr COMMODORE 20.00
Officer
$0 $0 $0
CARTER ROSS III VICE COMMODORE 20.00
Officer
$0 $0 $0
TERRI HUNDLEY SECRETARY 8.00
Officer
$0 $0 $0
EDDIE DEATON TREASURER 8.00
Officer
$0 $0 $0
PAT BORYCA REAR COMMODORE 8.00
Officer
$0 $0 $0
JACK NEW ENTERTAINMENT DIRECTOOR 8.00
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
2025 $269,679 $235,521 $295,829 $34,158
2024 $240,988 $269,651 $246,132 $-28,663
2023 $215,986 $191,586 $258,713 $24,400
2022 $225,632 $209,718 $273,912 $15,914
2021 $159,969 $169,340 $268,862 $-9,371
2020 $201,195 $164,664 $271,303 $36,531
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