Lake Merritt Rowing 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

2001

Legal Domicile

Principal Officer

Scott Sporte

Phone

5104213242

Tax Period

2024-04-01 to 2025-03-31

Lake Merritt Rowing Club, founded in 2001, is a small nonprofit in the Recreation & Sports sector that reported $255K in total revenue in fiscal year 2024. Expenses of $232K left a modest 9% surplus.

Mission

To share the joy of rowing with the diverse community of the Bay Area including youth and other interested rowers.

Program Service Accomplishments

Program 1

Expenses: $66,945

LMRC MEMBER PROGRAMS: OPEN TO ALL MEMBERS OF THE OAKLAND AND BAY AREA COMMUNITY, LMRC OFFERS A RANGE OF PROGRAMS FROM NOVICE TO INTERMEDIATE TO COMPETITIVE AS WELL AS RECREATIONAL AND INDEPENDENT...

LMRC MEMBER PROGRAMS: OPEN TO ALL MEMBERS OF THE OAKLAND AND BAY AREA COMMUNITY, LMRC OFFERS A RANGE OF PROGRAMS FROM NOVICE TO INTERMEDIATE TO COMPETITIVE AS WELL AS RECREATIONAL AND INDEPENDENT SCULLING PROGRAMS ENGAGING APPROXIMATELY 200 MEMBERS ANNUALLY AND WELCOMING ALL REGARDLESS OF ABILITY TO PAY

Program 2

Expenses: $11,710

YOUTH ROWING: LAKE MERRITT YOUTH ROWING LMYR OFFERS YOUNGSTERS, AGES 12-18, THE CHANCE TO TRY THE GREAT SPORT OF ROWING ON BEAUTIFUL LAKE MERRITT IN THE HEART OF OAKLAND PARTICIPANTS BUILD TECHNIQUE AND SKILLS IN A FUN, SAFE ENVIRONMENT. NO ROWING EXPERIENCE IS NEEDED. SESSIONS GIVE A POSITIVE, RELIABLE, AFTERSCHOOL EXPERIENCE WITH CONTINUOUS YEARROUND COACHING AND THE OPPORTUNITY TO BUILD ROWING SKILLS AND MASTER THIS REWARDING SPORT. SUMMER OFFERS IMMERSIVE, HALF DAY CAMPS FOR ROWERS OF ALL ABILITIES IN WEEKLONG SESSIONS. OVER 100 PARTICIPANTS PER YEAR.

Program 3

Expenses: $5,196

COMMUNITY LEARN TO ROW: LAKE MERRITT ROWING CLUB COMMUNITY LEARN TO ROW PROGRAM IS OFFERED YEAR ROUND TO ALL MEMBERS OVER AGE 18 IN THE COMMUNITY. DESIGNED FOR INDIVIDUALS THAT HAVE LITTLE OR NO...

COMMUNITY LEARN TO ROW: LAKE MERRITT ROWING CLUB COMMUNITY LEARN TO ROW PROGRAM IS OFFERED YEAR ROUND TO ALL MEMBERS OVER AGE 18 IN THE COMMUNITY. DESIGNED FOR INDIVIDUALS THAT HAVE LITTLE OR NO ROWING EXPERIENCE. ROWERS MAY BE IN SINGLES OR MAY EXPERIENCE ROWING IN A MULTIPERSON BOAT. THE PROGRAM ENGAGES APPROXIMATELY 100 ADULTS ANNUALLY. IN ADDITION, LMRC OFFERED A LEARN TO ROW PROGRAM TO THE LANEY COMMUNITY COLLEGE COMMUNITY FREE OF CHARGE.

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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 $10,802

Program Service Revenue $241,970

Investment Income $957

Other Revenue $1,215

TOTAL REVENUE $254,944

Expense Breakdown

Grants Paid $0

Salaries & Benefits $83,551

Fundraising Expenses $0

Program Expenses $83,851

Other Expenses $148,612

TOTAL EXPENSES $232,163

Year-over-Year Comparison

	2024	2023	Change
Revenue	$254,944	$255,774	0.0%
Expenses	$232,163	$215,461	+0.1%
Net Income	$22,781	$40,313	-0.4%

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

180

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

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Terry Wheeler	President	4.00	Officer Director	$0	$0	$0
Kevin Kawada	Vice President	4.00	Officer Director	$0	$0	$0
Laurie Stephey	Secretary	4.00	Officer Director	$0	$0	$0
Scott Sporte	Treasurer	4.00	Officer Director	$0	$0	$0
Wendy Madieros	Director	2.00	Director	$0	$0	$0
September Williams MD	Director	2.00	Director	$0	$0	$0
Laurie Stephey	Director	2.00	Director	$0	$0	$0
Andrea Muchin	Director	2.00	Director	$0	$0	$0
Chris Groves	Director	2.00	Director	$0	$0	$0
Andrew O'Brien	Director	2.00	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
2025	$254,944	$232,163	$588,881	$22,781
2024	$255,774	$215,461	$577,441	$40,313
2023	$243,923	$155,525	$572,790	$88,398
2022	$115,800	$108,714	$548,906	$7,086
2021	$255,456	$228,850	$525,388	$26,606
2020	$168,961	$211,670	$463,045	$-42,709
2019	$218,514	$204,347	$388,609	$14,167
2018	$216,060	$159,265	$372,668	$56,795