Lake Forest Yacht Club
Lake Forest Yacht Club: A Social Club with Limited Public Mission
EIN: 221978932 · Lk Hopatcong, NJ · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $413K |
| Total Expenses | $388K |
| Program Spending | 60% |
| Net Assets | $390K |
| Transparency Score | 20/100 |
Is Lake Forest Yacht Club Legit?
Significant Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Lake Forest Yacht Club directs 60% of its spending to programs. This falls below the 65% benchmark. Donors may want to investigate further.
About Lake Forest Yacht Club
Lake Forest Yacht Club (EIN: 221978932) is a nonprofit organization based in Lk Hopatcong, NJ. The organization reported total revenue of $413K and total assets of $598K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Lake Forest Yacht Club's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Lake Forest Yacht Club is a small nonprofit that has been operating for 53 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 2.9%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $404K |
| Total Expenses | $388K |
| Surplus / Deficit | +$16K |
| Total Assets | $670K |
| Total Liabilities | $281K |
| Net Assets | $390K |
| Operating Margin | 3.9% |
| Debt-to-Asset Ratio | 41.9% |
| Months of Reserves | 20.7 months |
Financial Health Grade: A
In 2023, Lake Forest Yacht Club reported a surplus of $16K with revenue exceeding expenses, holds 20.7 months of operating reserves (strong position), has a debt-to-asset ratio of 41.9% (moderate leverage).
Financial Trends
Over 13 years of filings (2011–2023), Lake Forest Yacht Club's revenue has grown at a compound annual growth rate (CAGR) of 2.9%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +7.8% | +3.3% | -4.4% |
| 2022 | +14.3% | +4.1% | +0.2% |
| 2021 | -1.3% | -3.3% | -11.9% |
| 2020 | +0.4% | +17.4% | -4.3% |
| 2019 | +4.0% | +3.4% | +60.0% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1973 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Lake Forest Yacht Club with a Mission Score of 20 out of 100 (Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 20%
- programs: 60%
- fundraising: 20%
According to IRS 990 filings, Lake Forest Yacht Club allocates its expenses as follows: admin: 20%, programs: 60%, fundraising: 20%. Approximately 60% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $16K, with revenue exceeding expenses.
- Debt-to-asset ratio: 41.9%.
Executive Compensation Analysis
Executive compensation is not reported in the available filings, suggesting it is below the threshold for disclosure or not applicable for this type of organization.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Lake Forest Yacht Club's IRS 990 filings:
- Primary purpose is a social club, not a public benefit organization.
- Limited transparency on specific program activities and their impact.
- Consistent net losses in recent years (e.g., 2023 had revenue of $404,106 and expenses of $388,426, but prior years show expenses exceeding revenue).
Strengths
The following positive indicators were identified for Lake Forest Yacht Club:
- Long-standing organization with consistent revenue streams.
- Maintains a significant asset base (e.g., $670,369 in assets as of 2023).
Frequently Asked Questions about Lake Forest Yacht Club
Is Lake Forest Yacht Club a legitimate charity?
Based on AI analysis of IRS 990 filings, Lake Forest Yacht Club (EIN: 221978932) significant concerns. Mission Score: 20/100. 3 red flags identified, 2 strengths noted.
How does Lake Forest Yacht Club spend its money?
Lake Forest Yacht Club directs 60% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to Lake Forest Yacht Club tax-deductible?
Lake Forest Yacht Club is registered as a tax-exempt nonprofit (EIN: 221978932). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Lake Forest Yacht Club's spending goes to programs?
Lake Forest Yacht Club directs 60% to programs, 20% to fundraising. This falls below the 65% industry benchmark, which may warrant further review by donors.
Where is Lake Forest Yacht Club located?
Lake Forest Yacht Club is headquartered in Lk Hopatcong, New Jersey and files with the IRS under EIN 221978932.
How many years of IRS 990 filings does Lake Forest Yacht Club have?
Lake Forest Yacht Club has 13 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $413K in total revenue.
What does Lake Forest Yacht Club do?
Lake Forest Yacht Club is a nonprofit organization in the Unknown sector, located in Lk Hopatcong, New Jersey. It is classified under NTEE code Unknown.
How much revenue does Lake Forest Yacht Club have?
Lake Forest Yacht Club reported total revenue of $413,472. Based on 13 IRS 990 filings on record.
What are Lake Forest Yacht Club's total assets?
Lake Forest Yacht Club holds total assets of $598,088 as reported in IRS 990 filings.
Where is Lake Forest Yacht Club located?
Lake Forest Yacht Club is based in Lk Hopatcong, New Jersey.
What is Lake Forest Yacht Club's EIN?
Lake Forest Yacht Club's Employer Identification Number (EIN) is 221978932. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Lake Forest Yacht Club?
Lake Forest Yacht Club is classified under NTEE code Unknown (Unknown).
Is Lake Forest Yacht Club a registered 501(c)(3)?
Lake Forest Yacht Club appears in IRS records (EIN: 221978932). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Lake Forest Yacht Club file IRS Form 990?
Yes, Lake Forest Yacht Club has 13 IRS Form 990 filings on record. The most recent covers tax period 202309.
What was Lake Forest Yacht Club's revenue in 2023?
In the 202309 filing period, Lake Forest Yacht Club reported total revenue of $404,106, total expenses of $388,426, and net assets of $670,369.
Is Lake Forest Yacht Club's revenue growing or declining?
Lake Forest Yacht Club's revenue is growing. Revenue went from $374,811 (202209) to $404,106 (202309), a +7.8% change. Based on 13 filings on record.
What is Lake Forest Yacht Club's most recent 990 filing?
The most recent IRS Form 990 filing for Lake Forest Yacht Club covers tax period 202309. It shows revenue of $404,106, expenses of $388,426, total assets of $670,369, and liabilities of $280,654.
How much does Lake Forest Yacht Club spend on programs vs administration?
Based on IRS 990 analysis, Lake Forest Yacht Club allocates approximately 60% of expenses to program services, 20% to administrative costs, and 20% to fundraising. Program spending is moderate relative to overhead.
Is Lake Forest Yacht Club a trustworthy charity?
Based on AI analysis of IRS 990 data, Lake Forest Yacht Club has notable concerns. Mission Score: 20/100 (Poor). 3 red flags identified. 2 strengths noted.
What are the red flags for Lake Forest Yacht Club?
The following concerns were identified: Primary purpose is a social club, not a public benefit organization.. Limited transparency on specific program activities and their impact.. Consistent net losses in recent years (e.g., 2023 had revenue of $404,106 and expenses of $388,426, but prior years show expenses exceeding revenue).. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Lake Forest Yacht Club's strengths?
Positive indicators for Lake Forest Yacht Club include: Long-standing organization with consistent revenue streams.. Maintains a significant asset base (e.g., $670,369 in assets as of 2023).. These findings are derived from AI analysis of the organization's financial filings.
How does Lake Forest Yacht Club compensate executives?
Executive compensation is not reported in the available filings, suggesting it is below the threshold for disclosure or not applicable for this type of organization. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How transparent is Lake Forest Yacht Club?
- Financial statements are available through public filings. - The organization's tax-exempt status is based on being a social club, not a public charity. - Detailed program spending is not clearly delineated in available filings. Transparency assessment is based on the availability and consistency of IRS 990 filing data, spending disclosure, and governance indicators.
Given its classification as a social club, what specific public benefit, if any, does Lake Forest Yacht Club provide to justify its tax-exempt status beyond member services?
The available data does not explicitly detail public benefit activities. Its tax-exempt status is likely under IRS section 501(c)(7) for social clubs, which primarily serve members rather than the general public.
Filing History
IRS 990 filing history for Lake Forest Yacht Club showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Lake Forest Yacht Club's revenue has grown by 40.7%, moving from $287K to $404K. Total assets increased by 50.7% over the same period, from $445K to $670K. Total functional expenses rose by 42.1%, from $273K to $388K. In its most recent filing year (2023), Lake Forest Yacht Club reported a surplus of $16K, with revenue exceeding expenses. The organization holds $281K in liabilities against $670K in assets (debt-to-asset ratio: 41.9%), resulting in net assets of $390K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $404K | $388K | $670K | $281K | — | View 990 |
| 2022 | $375K | $376K | $701K | $327K | — | View 990 |
| 2021 | $328K | $361K | $700K | $324K | — | View 990 |
| 2020 | $332K | $373K | $794K | $386K | — | View 990 |
| 2019 | $331K | $318K | $829K | $379K | — | View 990 |
| 2018 | $318K | $308K | $518K | $81K | — | View 990 |
| 2017 | $309K | $328K | $505K | $78K | — | View 990 |
| 2016 | $307K | $290K | $524K | $78K | — | View 990 |
| 2015 | $299K | $320K | $504K | $75K | — | View 990 |
| 2014 | $302K | $268K | $522K | $72K | — | View 990 |
| 2013 | $312K | $283K | $487K | $71K | — | View 990 |
| 2012 | $290K | $273K | $469K | $82K | — | View 990 |
| 2011 | $287K | $273K | $445K | $76K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $404K, expenses of $388K, and assets of $670K (revenue +7.8% year-over-year).
- 2022: Revenue of $375K, expenses of $376K, and assets of $701K (revenue +14.3% year-over-year).
- 2021: Revenue of $328K, expenses of $361K, and assets of $700K (revenue -1.3% year-over-year).
- 2020: Revenue of $332K, expenses of $373K, and assets of $794K (revenue +0.4% year-over-year).
- 2019: Revenue of $331K, expenses of $318K, and assets of $829K (revenue +4.0% year-over-year).
- 2018: Revenue of $318K, expenses of $308K, and assets of $518K (revenue +2.9% year-over-year).
- 2017: Revenue of $309K, expenses of $328K, and assets of $505K (revenue +0.6% year-over-year).
- 2016: Revenue of $307K, expenses of $290K, and assets of $524K (revenue +2.6% year-over-year).
- 2015: Revenue of $299K, expenses of $320K, and assets of $504K (revenue -0.9% year-over-year).
- 2014: Revenue of $302K, expenses of $268K, and assets of $522K (revenue -3.2% year-over-year).
- 2013: Revenue of $312K, expenses of $283K, and assets of $487K (revenue +7.6% year-over-year).
- 2012: Revenue of $290K, expenses of $273K, and assets of $469K (revenue +1.1% year-over-year).
- 2011: Revenue of $287K, expenses of $273K, and assets of $445K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Lake Forest Yacht Club:
Data Sources and Methodology
This transparency report for Lake Forest Yacht Club is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.