EIN: 59-2034384 · STUART, FL · Data spans: TY2020–TY2024
Most recent filing: Tax Year 2024.
A more recent filing may not yet be published.
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.
$5,043,865
$6,363,684
$17,798,355
$13,578,150
37 W-2 employees reported (Form W-3, most recent filing — contractors and volunteers excluded) · TY2024 · 990
Total compensation, benefits & payroll taxes (Part IX)
TY2024$2,870,187
Full cost to employ everyone — wages + employer benefits + payroll taxes. Not officer pay alone.
~$78,000 per employee ⓘ — average across 37 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 $2,389,012. The remaining $481,175 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)
No professional or consulting fees reported in Part IX for TY2024.
Functional Expense Allocation (Part IX)
TY2024$6,363,684total functional expenses
0.0%
Program services
$0
0.0%
Management & general
$0
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 |
|---|---|---|---|---|---|---|
| TY2020 | 2020–2021 | 990 | $3,590,520 | $4,570,253 | -$979,733 | $9,175,217 |
| TY2021 | 2020–2021 | 990 | $2,232,984 | $4,262,901 | -$2,029,917 | $7,955,981 |
| TY2022 | 2022+ | 990 | $4,030,906 | $4,986,435 | -$955,529 | $10,168,804 |
| TY2023 | 2022+ | 990 | $4,775,148 | $5,812,912 | -$1,037,764 | $12,355,609 |
| TY2024 | 2022+ | 990 | $5,043,865 | $6,363,684 | -$1,319,819 | $13,578,150 |
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 | $5,043,865 |
| 2a | MEMBERSHIP DUES | $3,730,976 |
| 2b | CART RENT/TRAIL FEES | $331,869 |
| 2c | GREENS FEES | $285,929 |
| 2d | TOURNAMENT FEES | $247,055 |
| 2e | LESSON INCOME | $79,627 |
| 2f | Total program service revenue | $4,715,889 |
| 3 | Investment income | $220,523 |
Most revenue is reported in a single category this year. That can be normal for some org types; see the source filing for detail.
Balance Sheet (Part X)
TY2024| Line | Description | BOY | EOY |
|---|---|---|---|
| 16 | Total assets | $17,138,433 | $17,798,355 |
| 26 | Total liabilities | $4,782,824 | $4,220,205 |
| 33 | Total net assets or fund balances | $12,355,609 | $13,578,150 |
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): 42
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 |
|---|---|---|---|
| KATHY CORK | CHIEF FINANCIAL OFFICER | 15 | Volunteer |
| ALISON MCMAHON | DIRECTOR (AS OF 3/24) | 1 | Volunteer |
| RIC MILLER | DIRECTOR | 1 | Volunteer |
| DAVE SAPONARO | DIRECTOR | 1 | Volunteer |
| KAREN DAKERS | DIRECTOR | 1 | Volunteer |
| MIKE BOYD | VP (THROUGH 3/24) | 1 | Volunteer |
| SHANE KRIGE | CHIEF OPERATING OFFICER | 15 | Volunteer |
| DANIEL DREISBACH | PRESIDENT (THROUGH 3/24) | 1 | Volunteer |
| ROBERT MCNAMARA | DIRECTOR (AS OF 3/24) | 1 | Volunteer |
| MUFFIN ADAMIAK | SECRETARY (THROUGH 3/24) | 1 | Volunteer |
| DAVID FRAZIER | TREASURER | 1 | Volunteer |
| CHARLIE COLE | SECRETARY (AS OF 3/24) | 1 | Volunteer |
| JOHN HOHMAN | DIRECTOR (THROUGH 3/24); PRESIDENT (AS OF 3/24) | 1 | Volunteer |
| ANN LOUISE PRICE | DIRECTOR (THOUGH 3/24); VP (AS OS 3/24) | 1 | Volunteer |
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
This organization has a written conflict of interest policy requiring officers, directors, and key employees to disclose any personal financial interest in a pending decision — and to step back from that vote. Examples in the sailing world: a board member whose construction company is bidding on a dock renovation, or a director who refers their spouse’s firm for the annual audit. Having a policy doesn’t eliminate conflicts; it creates a documented process for surfacing and managing them. Only 41% of organizations in this corpus report having one.
Whistleblower Protection Policy
Form 990, Part VI — Line 13
A formal process exists for employees, volunteers, or members to report suspected misconduct — and formal protection from retaliation for those who do. This creates a safe channel to flag irregular expense reimbursements, undisclosed vendor relationships, or cash handling questions. In a tight-knit club environment where a small officer corps controls both operations and finances, this protection matters more than the formal policy language might suggest. Only 27.5% of organizations in this corpus report having one.
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 |
|---|---|---|
| VICTOR TORTORICI | DIRECTOR OF GOLF | $301,762 |
| VICTOR TORTORICI | DIRECTOR OF GOLF | $253,381 |
| VICTOR TORTORICI | DIRECTOR OF GOLF | $243,977 |
| VICTOR TORTORICI | DIRECTOR OF GOLF | $233,823 |
| VINCENT SCOTT MCPHEE | DIRECTOR OF GOLF COURSE OP | $227,172 |
| VINCENT SCOTT MCPHEE | DIRECTOR OF GOLF COURSE OPERATIONS | $226,792 |
| VICTOR TORTORICI | DIRECTOR OF GOLF | $225,327 |
| VINCENT SCOTT MCPHEE | DIRECTOR OF GOLF COURSE OPERATIONS | $199,402 |
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 (2024). 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.
5 transactions found across all available filing years. Sorted largest to most recent.
| Person / Entity | Relationship | Type | Amount | Year |
|---|---|---|---|---|
| — | DIRECTOR OF GOLF | loan | $0 | 2024 |
| — | DIRECTOR OF GOLF | loan | $0 | 2023 |
| — | DIRECTOR OF GOLF | loan | $0 | 2022 |
| — | DIRECTOR OF GOLF | loan | $0 | 2021 |
| — | DIRECTOR OF GOLF | loan | $0 | 2020 |
📋 Context note. Where available, transactional context may be supplemented by audited financial statements or other independent disclosures that are not derived from 990 XML data alone. When an independent audit confirms the terms, repayment schedule, and arm's-length pricing of a related-party loan, the transaction carries a materially different risk profile than the 990 alone would suggest.
Voting Board Members
9
Independent Members
9
Total Employees
37
Total Volunteers
9
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, PART VI, SECTION A, LINE 6
THE CLUB IS A PRIVATE MEMBER-OWNED CLUB, OPERATED FOR THE PLEASURE AND RECREATION OF ITS MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7A
THE FOLLOWING MEMBERSHIP CATEGORIES HAVE VOTING PRIVILEGES: FULL EQUITY MEMBER ARE FULL VOTING RIGHTS MEMBERSHIPS AND THEIR RIGHTS ARE FULLY DESCRIBED IN THE BY-LAWS. ASSOCIATE MEMBERSHIPS VOTING RIGHTS ARE PRO-RATED BASED ON THE AMOUNT PAID IN. PROVISIONAL MEMBERSHIPS VOTING RIGHTS ARE PRO-RATED BASED ON THE AMOUNT PAID IN.
FORM 990, PART VI, SECTION A, LINE 7B
ANY DEBT (OTHER THAN OPERATING LEASES) IN EXCESS OF 50% OF THE ANNUAL BUDGET REQUIRES MAJORITY MEMBERSHIP APPROVAL. THE SALE, LEASE, EXCHANGE, TRANSFER OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE CLUB'S ASSETS REQUIRES MAJORITY MEMBERSHIP APPROVAL. MEMBERS MUST ALSO APPROVE CHANGES TO THE CLUB'S BY-LAWS AND CERTAIN LEVEL OF PROPOSED ASSESSMENTS.
FORM 990, PART VI, SECTION B, LINE 11B
THE ORGANIZATION DOES NOT BELIEVE IT'S EFFECTIVE NOR EFFICENT FOR THE ENTIRE GOVERNING BOARD TO REVIEW FORM 990 BEFORE FILING. THUS, THE GOVERNING BOARD DELEGATES THE REVIEW OF FORM 990 AND THE RELATED SCHEDULES TO THE CFO AND COO. THESE INDIVIDUALS REVIEW FORM 990 WITH THE ORGANIZATION'S OUTSIDE CPA PREPARERS PRIOR TO THE FILING OF THE FORM.
FORM 990, PART VI, SECTION B, LINE 12C
FROM TIME TO TIME AND AT LEAST ANNUALLY, ANY POSSIBLE CONFLICT OF INTEREST BY AN INTERESTED PERSON IS REVIEWED BY THE BOARD. ALL INTERESTED PERSONS HAVE A DUTY TO DISCLOSE ALL MATERIAL FACTS TO THE GOVERNING BODY.
Mission
TO BIND ITS MEMBERS TOGETHER BY A COMMON OBJECTIVE DIRECTED AT PLEASURE AND RECREATION.
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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Finding peer organizations…
Capacity Signals
Auto-detected patterns from this organization's own IRS filing history. Signals are relative to this org's trend only — not peer comparisons, not judgments.
Private clubs are naturally labor-heavy. Always interpret signals against this organization's own context before drawing conclusions.
Revenue per employee rose sharply
Revenue per employee grew 42% over two years (TY2022–TY2024), well above typical inflation. This can reflect genuine revenue growth, reduced staffing relative to revenue, or a one-time revenue event.
Why it matters: High revenue per employee can reflect operational efficiency — or understaffing. The program model and revenue mix should be checked before drawing conclusions.
Operator question: Did the revenue base change (new programs, dues increase, capital campaign receipt), or did staffing fall behind revenue growth?
Phase 2 signals (contractor substitution, benefits share changes) require Part IX line-level data and are not yet available. All computations use IRS-filed data only; no external benchmarks or CPI adjustments beyond a 3% per year inflation proxy.
📡 Filing Signals (6 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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