Is Larchmont Yacht Club Legit?

Larchmont Yacht Club demonstrates consistent financial activity, with revenues generally exceeding expenses over the past decade, indicating a stable operational model. For instance, in 2023, revenue was $14,410,842 against expenses of $14,105,471, showing a surplus. The organization's assets have also shown significant growth, nearly doubling from $14,485,747 in 2014 to $28,513,295 in 2023, suggesting effective asset management or capital improvements. Liabilities have also increased, particularly between 2019 and 2020, from $4,725,365 to $15,448,031, which warrants further investigation into the nature of these liabilities. Spending efficiency is difficult to fully assess without a detailed breakdown of program, administrative, and fundraising expenses, which are not provided in the summary data. However, the consistent positive net income in most years suggests that the organization is managing its overall expenditures within its revenue streams. The absence of reported officer compensation across all filings indicates either a volunteer-led executive structure or that compensation is reported under other expense categories, which could impact transparency. Overall, the financial health appears robust with growing assets and generally positive operating margins. However, the lack of detailed expense allocation and the significant increase in liabilities in recent years are areas where greater transparency would be beneficial for a comprehensive financial assessment. The consistent filing of IRS Form 990s over 13 periods demonstrates a commitment to regulatory compliance.