EIN: 65-0129568 · PALM CITY, 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.
$17,826,363
$20,770,842
$53,929,069
$37,137,199
293 W-2 employees reported (Form W-3, most recent filing — contractors and volunteers excluded) · TY2024 · 990
Total compensation, benefits & payroll taxes (Part IX)
TY2024$10,626,407
Full cost to employ everyone — wages + employer benefits + payroll taxes. Not officer pay alone.
~$36,000 per employee ⓘ — average across 293W-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 $1,615,070. The remaining $9,011,337is 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$20,770,842total functional expenses
Source: Form 990, Part IX, line 25. Functional allocation percentages are not itemized in this filing data for the selected year.
Historical Trends
Revenue vs. Expenses
Net Revenue / Operating Margin
Net Assets
Financial Health Snapshot
Derived from IRS 990 filings. Figures are as reported — they reflect a single point in time and should be read alongside the full filing history and program context above. No benchmark is a verdict.
Operating Margin
Net revenue as a share of total revenue. Positive = surplus; negative = deficit.
Sector context: sailing organizations typically run thin margins by design. A small surplus signals structural balance; a deficit is not automatically a warning without multi-year trend context.
Cash reserve (months)
Cash and short-term investments divided by average monthly expense.
A common practitioner benchmark: 3–6 months of unrestricted reserves provides a buffer for seasonal revenue gaps or unexpected costs. This figure is not a compliance threshold.
Revenue Change (YoY)
Change in total revenue from TY2023 to TY2024.
A single year of revenue change is a data point, not a trend. See the historical trends above for multi-year pattern context.
Revenue Trend
| Tax Year | Period | Form | Revenue | Expenses | Net Revenue | Net Assets |
|---|---|---|---|---|---|---|
| TY2020 | 2020–2021 | 990 | $11,610,137 | $14,570,571 | -$2,960,434 | $36,301,054 |
| TY2021 | 2020–2021 | 990 | $11,636,786 | $14,497,356 | -$2,860,570 | $36,990,509 |
| TY2022 | 2022+ | 990 | $13,335,793 | $17,301,868 | -$3,966,075 | $36,213,004 |
| TY2023 | 2022+ | 990 | $16,534,002 | $19,307,422 | -$2,773,420 | $36,743,594 |
| TY2024 | 2022+ | 990 | $17,826,363 | $20,770,842 | -$2,944,479 | $37,137,199 |
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 |
|---|---|---|
| 11a | MISCELLANEOUS | $201,707 |
| 12 | Total revenue | $17,826,363 |
| 2a | MEMBERSHIP DUES & ASSESSMENTS | $12,306,658 |
| 2b | TRAIL & LOCKER FEE | $940,222 |
| 2c | GOLF GUEST FEES | $477,869 |
| 2d | TENNIS FEES | $340,482 |
| 2e | TOURNAMENT FEES | $205,751 |
| 2f | Total program service revenue | $14,362,821 |
| 3 | Investment income | $280,943 |
| 6c | Net rental income or (loss) | $18,283 |
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 | $52,219,252 | $53,929,069 |
| 26 | Total liabilities | $15,475,658 | $16,791,870 |
| 33 | Total net assets or fund balances | $36,743,594 | $37,137,199 |
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): 75
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 |
|---|---|---|---|
| GREG WARNER | DIRECTOR | 5 | Volunteer |
| CHARLES WHITE | DIRECTOR | 5 | Volunteer |
| SHERYL HAYES | DIRECTOR (THROUGH 1/28/24) | 5 | Volunteer |
| JILL KELLY | DIRECTOR (THROUGH 1/28/24)/PRESIDENT | 5 | Volunteer |
| THOMAS OLSON | DIRECTOR (THROUGH 6/27/24) | 5 | Volunteer |
| KENNETH HUNZEKER | DIRECTOR (AS OF 1/28/24) | 5 | Volunteer |
| GIL ZANCHI | DIRECTOR (AS OF 1/28/24) | 5 | Volunteer |
| DANIEL ZIVNEY | DIRECTOR (THROUGH 1/28/24) | 5 | Volunteer |
| KATHLEEN POWELL | SECRETARY (THROUGH 1/28/24) | 5 | Volunteer |
| WILLIAM W HARRISON JR | SECRETARY (AS OF 1/28/24) | 5 | Volunteer |
| ANDY HARRIS | TREASURER (THROUGH 1/28/24) | 5 | Volunteer |
| MICHAEL IMPERIALE | DIRECTOR (THROUGH 1/28/24)/TREASURER (AS OF 1/28/2 | 5 | Volunteer |
| THOMAS DEFAZIO | DIRECTOR | 5 | Volunteer |
| SARAH MANUS | DIRECTOR | 5 | Volunteer |
| ELLEN THOMPSON | DIRECTOR | 5 | Volunteer |
Top Independent Contractors (Part VII-B)
$1,013,253across 2 contractors
| Contractor | Services | Compensation |
|---|---|---|
| — | STAFFING CONTRACTOR | $842,234 |
| — | RACQUET PRO CONTRACTOR | $171,019 |
Source: Form 990, Part VII, Section B. Lists each independent contractor paid more than $100,000.
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.
APPROXIMATELY 54,140 ROUNDS OF GOLF WERE PLAYED FOR THE YEAR ENDED 9/30/24. ALL ROUNDS, WITH THE EXCEPTION OF 1,377, WERE MEMBER RELATED.
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. A documented policy creates a formal process for surfacing and managing potential conflicts. In this corpus, 41% of organizations report having one.
Whistleblower Protection Policy
Form 990, Part VI — Line 13
No whistleblower protection policy reported. The IRS added this question in 2008 following Sarbanes-Oxley. Absence does not imply wrongdoing; many smaller organizations have not formalized this in writing.
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 |
|---|---|---|
| MICHAEL SALERNO | GENERAL MANAGER | $400,000 |
| TIM CANN | DIRECTOR OF GOLF MAINTENANCE | $271,263 |
| JEFFREY BELAU | CHIEF FINANCIAL OFFICIAL | $248,762 |
| JOHN OLEARY | EXECUTIVE CHEF | $180,333 |
| LISA DMITI | DIRECTOR OF FITNESS | $131,707 |
| NIKI PLAITIS | HUMAN RESOURCES DIRECTOR | $127,877 |
| KALLIE LANGBERG | DIRECTOR OF COMMUNICATIONS | $127,873 |
| TERESA SALVAGGIO | FOOD & BEVERAGE DIRECTOR | $127,255 |
Compensation shown is reportable compensation from this organization only, as disclosed in Part VII. Most volunteer-run sailing clubs report $0 officer compensation, while larger organizations may report paid executive roles. The figures above show exactly what this filing reports for named individuals.
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 filing line records the process used, rather than evaluating whether that process is right or wrong.
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. This section reports whether the filing includes that disclosure.
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
293
Total Volunteers
150
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 THAT IS OWNED AND OPERATED FOR THE PLEASURE AND RECREATION OF ITS MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7A
THE FOLLOWING MEMBERSHIP CATEGORIES HAVE VOTING PRIVILEGES: EQUITY MEMBERS.
FORM 990, PART VI, SECTION A, LINE 7B
CHANGES TO THE BY-LAWS, CAPITAL PROJECTS OR EXPENDITURES GREATER THAN $4,000,000, BORROWINGS IN EXCESS OF 10% OF THE OPERATING BUDGET, AND SPECIAL ASSESSMENTS IN EXCESS OF THE GREATER OF $500 OR 10% OF ANNUAL DUES REQUIRE THE APPROVAL OF THE EQUITY MEMBERS.
FORM 990, PART VI, SECTION B, LINE 11B
DRAFTS OF FORM 990 AND 990T ARE REVIEWED BY THE AUDIT COMMITTEE AND SUBMITTED TO THE BOARD OF DIRECTORS FOR APPROVAL. DRAFTS OF FORM 990 AND 990T MADE AVAILABLE AT THE BOARD MEETING. THE BOARD APPROVES THE RETURNS AS SUBMITTED BY THE AUDIT COMMITTEE.
FORM 990, PART VI, SECTION B, LINE 12C
THE POLICY IS DISCUSSED DURING ANY CONTRACT PROCESS.
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.
Similar Organizations
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.
Labor cost per employee rose with flat headcount
Average labor cost per employee rose 12% YoY (TY2023→TY2024) while headcount stayed flat and revenue grew less than 8%. This can reflect pay raises, benefit cost increases, or a shift toward higher-compensated roles.
Why it matters: Rising per-employee cost without corresponding revenue growth compresses operating margins and may reflect wage catch-up after a period of underpayment, or structural changes in benefits.
Operator question: Were raises given broadly across staff, or did the mix shift toward higher-compensated positions (e.g., new senior hire, benefits restructure)?
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.
See an error?
If you spot a data discrepancy, misattribution, or filing mismatch — let us know.
Send us a signal →