EIN: 05-0247709 · WESTERLY, RI · Data spans: TY2021–TY2025
Most recent filing: Tax Year 2025.
Sailing's public record, made legible. All numbers come directly from this organization's own sworn 990 filing. Patterns are computed from years of filings — not assessments or judgments.
Read trends in context: compare like with like, note the filing year, and treat major disruptions (like 2020–2021) as discontinuities rather than a continuous baseline.
Missing or N/A does not always mean absent. It can mean the item was not disclosed on that form, not collected on that filing type, or not available for that year.
$1,910,643
$1,950,028
$4,464,868
$3,007,058
40 W-2 employees reported (Form W-3, most recent filing — contractors and volunteers excluded) · TY2025 · 990
Total compensation, benefits & payroll taxes (Part IX)
TY2025$483,470
Full cost to employ everyone — wages + employer benefits + payroll taxes. Not officer pay alone.
~$12,000 per employee ⓘ — average across 40 W-2 employees; includes benefits & payroll taxes; part-time and seasonal staff counted at full weight.
Named officers/key employees (Part VII‑A) show reportable compensation only and are already included in the Part IX total above. They are not additive.
Named staff org comp sums to $305,211. The remaining $178,259 is unlisted staff labor cost — includes benefits & payroll taxes for all employees, not any one person's salary.
Professional & consulting fees (Part IX, line 11)
TY2025$187,787
Payments to outside firms and independent contractors — not included in the Part IX labor total above. Combined with the labor total, full people cost is $671,257.
Functional Expense Allocation (Part IX)
TY2025$1,950,028total functional expenses
95.5%
Program services
$1,863,227
4.5%
Management & general
$86,801
0.0%
Fundraising
$0
Source: Form 990, Part IX, line 25. A higher program-service percentage generally indicates more mission-directed spending.
Historical Trends
Revenue vs. Expenses
Net Revenue / Operating Margin
Net Assets
Revenue Trend
| Tax Year | Period | Form | Revenue | Expenses | Net Revenue | Net Assets |
|---|---|---|---|---|---|---|
| TY2021 | 2020–2021 | 990 | $1,084,593 | $1,034,679 | $49,914 | $3,103,172 |
| TY2022 | 2022+ | 990 | $1,311,738 | $1,297,608 | $14,130 | $3,117,302 |
| TY2023 | 2022+ | 990 | $1,412,828 | $1,349,021 | $63,807 | $3,181,109 |
| TY2024 | 2022+ | 990 | $1,797,257 | $1,798,410 | -$1,153 | $3,060,264 |
| TY2025 | 2022+ | 990 | $1,910,643 | $1,950,028 | -$39,385 | $3,007,058 |
Revenue trend is a filing-history view. It helps you compare operating periods, not infer the club's live condition today.
Revenue Breakdown (Part VIII — most recent year)
Form 990, Part VIII — Statement of Revenue. Includes, but is not limited to: Line 1 = contributions and grants (including member dues reported as contributions). Lines 2a–2f = program service revenue (activities that directly further the organization's exempt purpose). Line 3 = investment income. The specific mix varies by organization type. Source: the organization's own sworn filing.
| Line | Description | Amount |
|---|---|---|
| 12 | Total revenue | $1,910,643 |
| 1b | Membership dues | $573,955 |
| 1h | Total contributions and grants | $573,955 |
| 2a | DOCKS & MOORING FEES | $396,381 |
| 2b | ASSESSMENTS | $196,135 |
| 2c | INITIATION FEES | $49,000 |
| 2d | ICE INCOME | $4,105 |
| 2e | ELECTRICAL OVERAGE | $3,592 |
| 2f | Total program service revenue | $650,742 |
| 3 | Investment income | $29,729 |
| 6c | Net rental income or (loss) | $14,309 |
Most revenue is reported in a single category this year. That can be normal for some org types; see the source filing for detail.
Endowment (Schedule D, Part V)
$61,697
Ending endowment balance as of TY2025
Ending balance — 5-year trend
TY2024
$59,012
TY2025
$61,697
TY2025 rollforward
Source: Form 990, Schedule D, Part V. Endowment funds reflect the organization's long-term investment reserves.
Balance Sheet (Part X)
TY2025| Line | Description | BOY | EOY |
|---|---|---|---|
| 16 | Total assets | $4,705,535 | $4,464,868 |
| 26 | Total liabilities | $1,645,271 | $1,457,810 |
| 33 | Total net assets or fund balances | $3,060,264 | $3,007,058 |
Source: Form 990, Part X, Balance Sheet.
Officers & Key Staff (Part VII)
How to read this section
This is not a full staff directory. It is the subset of people the organization had to disclose in Form 990, Part VII (the officer, director, trustee, key employee, and highest-compensated employee section of the filing). Why this matters: a missing name does not mean a person was not employed or involved.
Total Volunteer Board Hours/Week (Selected Year): 32
Hours per week are self-reported by each officer on Form 990, Part VII. They are not verified.
Officers and directors as reported on Form 990, Part VII. These are typically unpaid, elected positions. If an officer receives compensation, it will appear in the Paid Staff tab.
Operationally, this section is most useful for understanding disclosed leadership structure, compensation visibility, and board labor — not for reconstructing the full staffing model of a club.
| Name | Title | Hours/Week | Status |
|---|---|---|---|
| DAVID MALEK | BOARD OF DIR | 2 | Volunteer |
| JACK CALLINAN | REAR COMMADO | 4 | Volunteer |
| MILAN MOSCARITOLO | BOARD OF DIR | 2 | Volunteer |
| DAVID MURPHY | BOARD OF DIR | 2 | Volunteer |
| DALE REIS | BOARD OF DIR | 2 | Volunteer |
| EMILY TUNILA | BOARD OF DIR | 2 | Volunteer |
| RICHARD BUCKLEY | SECRETARY | 4 | Volunteer |
| DAVID TURANO | TREASURER | 4 | Volunteer |
| THOMAS KRIVICKAS | BOARD OF DIR | 2 | Volunteer |
| RICHARD BROWN | VICE COMMODO | 4 | Volunteer |
| JOHN LALLO | COMMADORE | 4 | Volunteer |
Programs (Part III — most recent year)
Form 990, Part III — Statement of Program Service Accomplishments. These are the activities that directly further the organization's exempt purpose. Expenses, grants, and revenue are as reported in the organization's own sworn filing.
TO PROVIDE SOCIAL FACILITIES FOR MEMBERS ONLY.
TO PROVIDE A LOUNGE FOR SOCIAL ACTIVITIES MEMBERS ONLY.
PROVIDE MEMBER FACILITIES
Governance & Transparency Signals
The IRS Form 990 is a sworn disclosure document — not just a tax return. Beyond financials, it captures governance policies, compensation practices, and relationships between insiders and the organization. Every category below comes directly from that filing. When a field is blank, it is often because this form type doesn’t require it, or the org doesn’t meet the threshold that triggers disclosure. That context is itself worth knowing.
Conflict of Interest Policy
Form 990, Part VI — Line 12a
No conflict of interest policy reported. Without one, there is no documented mechanism for identifying when a board member has a personal financial stake in a decision — or for recusing them when they do. The IRS doesn’t legally require this policy, but its absence is a factor they weigh when scrutinizing excess benefit transactions. Most volunteer-run clubs handle conflicts informally; a formal policy matters most when the stakes — contract size, executive pay, vendor selection — get larger.
Whistleblower Protection Policy
Form 990, Part VI — Line 13
No whistleblower protection policy reported. Without a documented process, a staff member or volunteer who notices irregular transactions has no protected channel to report it — and no written assurance they won’t face consequences for raising the issue. The IRS added this question in 2008 following Sarbanes-Oxley. Absence does not imply wrongdoing; many small clubs haven’t formalized this in writing even when informal norms are healthy.
Officer & Key Employee Compensation (Part VII)
Form 990, Part VII — Named individuals with reportable compensation
Part VII requires individual disclosure of all officers, directors, trustees, key employees, and the five highest-compensated employees earning above the reporting threshold. The individuals listed here are from the most recent available filing.
| Name | Title | Comp from Org |
|---|---|---|
| KAREN BARKER | OFFICE MANAGER | $71,483 |
| KAREN BARKER | OFFICE MANAGER | $67,752 |
| KAREN TURANO | CLUB STEWARD | $47,088 |
| KAREN TURANO | CLUB STEWARD | $43,879 |
| PAUL VINCENT | MAINTENANCEMAN | $24,350 |
| PAUL VINCENT | MAINTENANCEMAN | $18,640 |
| PAUL VINCENT | MAINTENANCEMAN | $15,620 |
| CHRISTINE STRICKILAND | CLUB STEWARD | $14,999 |
Compensation shown is reportable compensation from this organization only, as disclosed in Part VII. The $150,000 threshold is significant context: most volunteer-run sailing clubs report $0 for all officers. When professional staff — a General Manager, Executive Director, or Harbor Master — earns above that level, it signals an org operating more like a business than a volunteer collective. That’s not inherently good or bad: a $12M club with 45 full-time employees may well need a $200K GM. But a $400K club paying its Commodore $180K warrants scrutiny.
Independent Compensation Consultant
Schedule J, Part I — Organizations filing when comp exceeds $150K
No independent compensation consultant reported for the most recent year with Schedule J data (2023). Executive pay was set through internal board processes — a compensation committee, comparison to prior years, or board vote — without outside benchmarking. This is common and not inherently concerning for organizations paying market-rate salaries. It becomes more notable as compensation levels rise and the board’s judgment becomes harder to validate externally.
Equity-Based Compensation
Schedule J, Part II — Per-person compensation detail
No equity-based compensation reported — expected for a nonprofit. Nonprofits cannot issue ownership stakes because they have no shareholders. In the for-profit world, equity aligns executive incentives with long-term value creation; the nonprofit analog takes different forms (retention bonuses, deferred comp) but not equity. Zero percent of organizations in the sailing and yacht club corpus report this. If any did, it would immediately raise questions about whether the arrangement is consistent with tax-exempt status.
Related-Party Transactions (Schedule L)
Schedule L — Transactions with Interested Persons (officers, directors, their families, controlled entities)
Schedule L requires disclosure of loans, grants, and business transactions between the organization and its own insiders — board members, officers, key employees, and their family members or entities they control. Nonprofits are not prohibited from transacting with insiders, but they must disclose it, follow fair-market-value standards, and document that the transaction benefited the organization, not just the insider. These disclosures exist because self-dealing is the most direct way nonprofit assets can flow to those in control.
No related-party transactions found in our data for this organization. Schedule L is only required when transactions occur — absence means none were reported, not necessarily that none occurred.
Voting Board Members
10
Independent Members
10
Total Employees
40
Schedule O — Supplemental Information (most recent year)
Organizations use Schedule O to provide additional explanation for answers given on the main 990 form. These are direct excerpts from the filed document.
FORM 990, PAGE 2, PART III, LINE 4D
PROVIDE MEMBER FACILITIES
FORM 990, PART VI
FORM 990 IS REVIEWED BY THE FINANCE COMMITTEE CHAIR AND DISTRIBUTED TO THE BOARD OF DIRECTORS FOR APPROVAL PRIOR TO FILING.
FORM 990, PAGE 6, PART VI, LINE 11B
THE CLUB HAS AN INTERNAL AUDIT COMMITTEE WHICH REVIEWS REVENUES AND EXPENDITURES ON A MONTHLY BASIS.
FORM 990, PAGE 6, PART VI, LINE 19
NO DOCUMENTS AVAILABLE TO THE PUBLIC
FORM 990, PART XI, LINE 9
ADJUST CONTINGENCY FUNDS 0 CONTINGENCY DECREASE -13,821 TOTAL -13,821
Mission
THE WESTERLY YACHT CLUB, A DOMESTIC NON-PROFIT ASSOCIATION ESTABLISHED IN 1921, WAS ORGANIZED TO PROVIDE FOR RECREATIONAL BOATING, EDUCATION AND SOCIAL FACILITIES FOR MEMBERS. SUPPORT DUES, ASSESSMENTS, DOCK FEES
As stated in the organization's 990 filing.
IRS Source Filings
Source filings are IRS e-file records in XML (Extensible Markup Language) format — a structured data standard used by the IRS for electronic filing. If you open one of these links, it will look like code. That's not an error — that's what XML looks like. Harbor Commons processes this raw XML and presents the structured, readable view you see above.
Why this matters: the XML is the receipt. Harbor Commons is the reading layer on top of that receipt. If you ever need to verify a number, wording choice, or disclosure, the source filing is where to check.
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📡 Filing Signals (9 total)
Trends and shifts computed from this organization's own public filings across all available years. Signals highlight where numbers changed — not whether those changes are good or bad. Only people with inside knowledge of this organization can interpret what these signals mean.
Signals describe filing history, not the club's live operating state. The newest filing may still lag current reality by many months.
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