Lakewood Yacht 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

1955

Legal Domicile

Principal Officer

KELLY HOLST

Phone

2814742511

Tax Period

2023-01-01 to 2023-12-31

Lakewood Yacht Club, founded in 1955, is a community nonprofit that reported $7.2M in total revenue in fiscal year 2023.

Mission

LAKEWOOD YACHT CLUB PROVIDES AN EXCLUSIVE YACHTING ENVIRONMENT FOR THE BENEFIT OF ITS MEMBERS. DIVERSE SOCIAL AND RECREATIONAL NEEDS ARE MET WHILE FOSTERING A SENSE OF COMARADERIE. MEMBER PARTICIPATION ENSURES THAT THE CLUB PROVIDES SERVICES AND FACILITIES THAT CATER TO THEIR MUTUAL INTERESTS.

Program Service Accomplishments

Program 1

LAKEWOOD YACHT CLUB IS LOCATED ON 38 BEAUTIFULLY LANDSCAPED ACRES WITH OVER 300 COVERED AND OPEN BOAT SLIPS. LAKEWOOD IS MORE THAN JUST A YACHT CLUB. IT IS A HAVEN FOR MEMBERS, THEIR FAMILIES AND...

LAKEWOOD YACHT CLUB IS LOCATED ON 38 BEAUTIFULLY LANDSCAPED ACRES WITH OVER 300 COVERED AND OPEN BOAT SLIPS. LAKEWOOD IS MORE THAN JUST A YACHT CLUB. IT IS A HAVEN FOR MEMBERS, THEIR FAMILIES AND GUESTS.

Program 2

THE BERMUDA-STYLE CLUBHOUSE PROVIDES LAKEWOOD'S 500 PLUS MEMBERS WITH QUIET HARBOR-VIEW DINING FACILITIES AND EXCELLENT CUISINE PROVIDED BY A PROFESSIONALLY TRAINED EXECUTIVE CHEF. THE CLUBHOUSE HAS A NEWLY REMODELED BAR AND PIANO LOUNGE WITH LARGE SCREEN TELEVISIONS THAT INVITES MEMBERS TO RELAX BY THE FIRE. THE BEAUTIFUL BALLROOM OVERLOOKING THE INNER HARBOR IS THE VENUE FOR MANY OF LAKEWOOD'S SOCIAL EVENTS AS WELL AS WEDDINGS, MEETINGS AND SUNDAY BRUNCH. A GAME ROOM PROVIDES SUPERVISED ACTIVITIES FOR MEMBERS' CHILDREN.

Program 3

THERE IS SOMETHING FOR EVERYONE AT LAKEWOOD, BEGINNING WITH A STRONG AGENDA OF REGATTAS AND CRUISES ORGANIZED ANNUALLY BY LAKEWOOD'S ENTHUSIASTIC VOLUNTEERS. AN ACTIVE LADIES ASSOCIATION HAS A BUSY MONTHLY AGENDA WHICH INCLUDES A SPECIAL SUMMER ACTIVITY. THE YOUTH PROGRAM, KNOWN AS THE SEAHORSES, IS GUIDED YEAR-ROUND BY THE CLUB'S PARENT VOLUNTEERS AND FULL-TIME SAILING DIRECTOR. THREE LIGHTED TENNIS COURTS AND FRIENDLY BUT COMPETITIVE MONTHLY TENNIS SOCIALS AND WEEKLY MATCHES ADD TO THE ALLURE OF LAKEWOOD.

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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 $47,592

Program Service Revenue $7,117,038

Investment Income $84,892

Other Revenue $0

TOTAL REVENUE $7,249,522

Expense Breakdown

Grants Paid $0

Salaries & Benefits $3,037,634

Fundraising Expenses $0

Other Expenses $4,585,994

TOTAL EXPENSES $7,623,628

Year-over-Year Comparison

	2023	2022	Change
Revenue	$7,249,522	$6,958,057	+0.0%
Expenses	$7,623,628	$7,246,112	+0.1%
Net Income	$-374,106	$-288,055	+0.3%

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

141

Volunteers

150

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

$346,803

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KELLY HOLST	GENERAL MANAGER	40.0	Key Emp	$209,727	$15,386	$225,113
MARK LAUER	ASST GENERAL MANAGER	40.0	Key Emp	$110,146	$11,544	$121,690
DWIGHT BENGTSON	VICE COMMODORE	5.0	Officer Director	$0	$0	$0
DUANE GUIDRY	REAR COMMODORE	5.0	Officer Director	$0	$0	$0
MARGIE CLARK	DIRECTOR	2.0	Director	$0	$0	$0
AL POINDEXTER	DIRECTOR	2.0	Director	$0	$0	$0
GARY ROMER	FORMER COMMODORE	5.0	Officer Director	$0	$0	$0
PAUL DUNPHEY	COMMODORE	5.0	Officer Director	$0	$0	$0
DAVID COMEAUX	SECRETARY/DIRECTOR	5.0	Director	$0	$0	$0
RICHARD TOMLINSON	DIRECTOR	2.0	Director	$0	$0	$0
JAY JOHNSON	DIRECTOR	2.0	Director	$0	$0	$0
GARROW WESSENDORFF	DIRECTOR	2.0	Director	$0	$0	$0
DWAYNE BREAUX	DIRECTOR	2.0	Officer Director	$0	$0	$0
MARIE WISE	FLEET CAPTAIN	5.0	Officer Director	$0	$0	$0
GARY GARNETT	DIRECTOR	2.0	Director	$0	$0	$0
PHIL ELTING	DIRECTOR	2.0	Director	$0	$0	$0
JAY BRINKMANN	DIRECTOR/TREASURER	5.0	Officer Director	$0	$0	$0
NAT KEMBERLING	DIRECTOR	2.0	Director	$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	$7,249,522	$7,623,628	$8,628,729	$-374,106
2022	$6,958,057	$7,246,112	$9,088,460	$-288,055
2021	$6,203,897	$6,431,122	$9,561,230	$-227,225
2020	$5,397,950	$5,807,920	$9,975,371	$-409,970
2019	$5,940,534	$6,478,690	$10,732,611	$-538,156
2018	$7,434,889	$6,383,471	$11,101,771	$1,051,418