Civic Intelligence

Forest City Yacht Club

EIN 34-0646603 • 501(c)7 • Cleveland, OH

Profile

Private yacht club social organization

5301 N Marginal RdCleveland, OH 44114

www.forestcityyachtclub.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

79th percentile

0.14x

Higher debt load relative to assets than 79% of similar nonprofits.

501(c)7 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

82nd percentile

0.16x

Higher debt load relative to revenue than 82% of similar nonprofits.

501(c)7 • <$500k nonprofits • Source year 2024

Net Margin

26th percentile

-7.7%

Higher net margin than 26% of similar nonprofits.

501(c)7 • <$500k nonprofits • Source year 2024

Top Officer Pay

94th percentile

$0

Higher top officer pay than 94% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

501(c)7 • <$500k nonprofits • Source year 2024

Asset Growth

34th percentile

-6.3%

Faster asset growth than 34% of similar nonprofits.

501(c)7 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

42nd percentile

-2.3%

Faster revenue growth than 42% of similar nonprofits.

501(c)7 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Down

$442,818

Down $29,791 (-6.3%) from 2023

Liabilities

Down

$61,205

Down $258 (-0.4%) from 2023

Net Assets

Down

$381,613

Down $29,533 (-7.2%) from 2023

Revenue

Down

$382,806

Down $8,882 (-2.3%) from 2023

Expenses

Up

$412,339

Up $45,444 (+12%) from 2023

Net Income

Down

-$29,533

Down $54,326 (-219%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2016: $208,375Liabilities 2016: $78,473Net Assets 2016: $129,9022016Assets 2018: $173,767Liabilities 2018: $92,713Net Assets 2018: $81,0542018Assets 2019: $246,927Liabilities 2019: $71,642Net Assets 2019: $175,2852019Assets 2020: $292,281Liabilities 2020: $73,845Net Assets 2020: $218,4362020Assets 2021: $434,845Liabilities 2021: $63,472Net Assets 2021: $371,3732021Assets 2022: $449,174Liabilities 2022: $62,821Net Assets 2022: $386,3532022Assets 2023: $472,609Liabilities 2023: $61,463Net Assets 2023: $411,1462023Assets 2024: $442,818Liabilities 2024: $61,205Net Assets 2024: $381,6132024

Highlighted filing

2024

Assets$442,818
Liabilities$61,205
Net Assets$381,613

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2016: $332,869Expenses 2016: $316,401Net Income 2016: $16,4682016Revenue 2018: $353,873Expenses 2018: $441,289Net Income 2018: -$87,4162018Revenue 2019: $362,909Expenses 2019: $268,676Net Income 2019: $94,2332019Revenue 2020: $358,619Expenses 2020: $315,468Net Income 2020: $43,1512020Revenue 2021: $334,197Expenses 2021: $181,261Net Income 2021: $152,9362021Revenue 2022: $350,019Expenses 2022: $335,038Net Income 2022: $14,9812022Revenue 2023: $391,688Expenses 2023: $366,895Net Income 2023: $24,7932023Revenue 2024: $382,806Expenses 2024: $412,339Net Income 2024: -$29,5332024

Highlighted filing

2024

Revenue$382,806
Expenses$412,339
Net Income-$29,533

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 31, 2025
Return Version
2024v5.1
Gross Receipts
$430,411
Mission and Program Overview

Mission

Private yacht club social organization

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$425,963$382,828▼ $43,135
Pd in Cap Srpls Land Bldg Eqp Fund$401,146$371,613▼ $29,533
Cash and Non-Interest-Bearing Accounts$16,368$22,586▲ $6,218
Prepaid Expenses and Deferred Charges$14,945$14,188▼ $757
Cap Stk Tr Prin Current Funds$10,000$10,000→ $0
Inventories for Sale or Use$13,923$7,216▼ $6,707
Accounts Receivable$-3,620$-14,030▼ $10,410
Total Assets$472,609$442,818▼ $29,791
Other Assets Total$5,030$30,030▲ $25,000
Liabilities
Other Liabilities$57,584$61,028▲ $3,444
Accounts Payable and Accrued Expenses$3,879$177▼ $3,702
Total Liabilities$61,463$61,205▼ $258
Net Assets / Fund Balance
Total Net Assets Fund Balance$411,146$381,613▼ $29,533
Total Liabilities and Net Assets / Fund Balance$472,609$442,818▼ $29,791

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$60,433$60,433
Other Assets Org$25,000--
Compensation and Service Providers

Board Members and Trustees

NameTitle
Eric PatrickPast Commodore Trustee
Bob DianettiTrustee
Joann PiekarczykTrustee
Tom MontowskyTrustee
Michael CheungCommodore
Michelle WinterFinancial Secretary
Edward BromundFleet Captain
Matt FiktusRear Commodore
Vicky MoustySecretary
Frank ScavoneTreasurer
Pat FinnVice Commodore
Revenue and Support

Revenue Composition

Contributions and Grants
$378,263
Program Service Revenue
$0
Investment Income
$1,812
Other Revenue
$2,731
Change in Net Assets
$-29,533
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$379,236
Salaries, Compensation, and Employee Benefits$33,103
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages-$30,580-$30,580
All Other Expenses-$28,865-$28,865
Insurance-$19,476-$19,476
Occupancy-$16,790-$16,790
Fees for Services Accounting-$6,887-$6,887
Other Expenses-$6,667-$6,667
Payroll Taxes-$2,523-$2,523
Office Expenses-$2,476-$2,476
Total Functional Expenses$0$412,339$0$412,339
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Federal income taxes$60,881
Real Estate Taxes$113
Sales Tax Payable$34
Payroll Taxes-
Rounding-
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section C, Line 19

Written requests for financial statements, constitution and or by laws will be honored, if requested. No requests have ever been received. Organization documents and financials are available on request

Form 990, Part VII, Section A, Line 1A

Officers and trustees make up the board of directors. Officers and trustees do not receive any compensation

Filing and Contact Details

Filer

Filer Name
Forest City Yacht Club
EIN
34-0646603
Phone
2163619857
Address
5301 N MARGINAL RD, CLEVELAND, OH 44114

Signing Officer

Name
Frank Scavone
Title
Treasurer
Phone
2163619857
Signed
2025-05-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Scavone
Formed
1939
Legal Domicile
Oh
Voting Board Members
125
Independent Board Members
125
Employees
1

Preparer

Firm
Ptc Financial Inc
Address
5865 SEQUOIA CT, MENTOR, OH 44060
Preparer
Kenneth a Balogh
Phone
4409758860
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Supplies 6,907 dues and subs 5,784 regatta -690 work or pay 1,925 bank fees 2,889 security 7,165 outside services 4,589 licenses/permits 888 miscellaneous -593

Form 990, Part IV, Section B, Line 11A

Financials are reviewed on monthly basis and tax return and supporting documents are reviewed by board of trustees prior to submission

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleD/OtherAssetsOrgGrp/Desc2CONSTRUCTION IN PROGRESS - CLEAN MACH
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt060881
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1113
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt234
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0Federal income taxes
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1REAL ESTATE TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2SALES TAX PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3PAYROLL TAXES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4ROUNDING
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Financial derivatives and other financial products
IRS990ScheduleD/OtherSecuritiesGrp/Desc1Closely-held equity interests
IRS990ScheduleD/TotalBookValueOtherAssetsAmt030030
IRS990ScheduleD/TotalLiabilityAmt061028
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0SUPPLIES 6,907 DUES AND SUBS 5,784 REGATTA -690 WORK OR PAY 1,925 BANK FEES 2,889 SECURITY 7,165 OUTSIDE SERVICES 4,589 LICENSES/PERMITS 888 MISCELLANEOUS -593
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FINANCIALS ARE REVIEWED ON MONTHLY BASIS AND TAX RETURN AND SUPPORTING DOCUMENTS ARE REVIEWED BY BOARD OF TRUSTEES PRIOR TO SUBMISSION
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2WRITTEN REQUESTS FOR FINANCIAL STATEMENTS, CONSTITUTION AND OR BY LAWS WILL BE HONORED, IF REQUESTED. NO REQUESTS HAVE EVER BEEN RECEIVED. ORGANIZATION DOCUMENTS AND FINANCIALS ARE AVAILABLE ON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3OFFICERS AND TRUSTEES MAKE UP THE BOARD OF DIRECTORS. OFFICERS AND TRUSTEES DO NOT RECEIVE ANY COMPENSATION
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part IX, Line 24E
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part IV, Section B, Line 11A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VII, Section A, Line 1A
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0472609
IRS990/TotalAssetsEOYAmt0442818
IRS990/TotalAssetsGrp/BOYAmt0472609
IRS990/TotalAssetsGrp/EOYAmt0442818
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt0378263
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0412339
IRS990/TotalFunctionalExpensesGrp/TotalAmt0412339
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt061463
IRS990/TotalLiabilitiesEOYAmt061205
IRS990/TotalLiabilitiesGrp/BOYAmt061463
IRS990/TotalLiabilitiesGrp/EOYAmt061205
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0411146
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0381613
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0382806
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0472609
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0442818
IRS990/TravelGrp/TotalAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0true
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt05301 N MARGINAL RD
IRS990/USAddress/CityNm0CLEVELAND
IRS990/USAddress/StateAbbreviationCd0OH
IRS990/USAddress/ZIPCd044114
IRS990/VotingMembersGoverningBodyCnt0125
IRS990/VotingMembersIndependentCnt0125
IRS990/WebsiteAddressTxt0WWW.FORESTCITYYACHTCLUB.COM
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0FRANK SCAVONE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum02163619857
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-05-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0FOREST CITY YACHT CLUB
ReturnHeader/Filer/BusinessNameControlTxt0FORE
ReturnHeader/Filer/EIN0340646603
ReturnHeader/Filer/PhoneNum02163619857
ReturnHeader/Filer/USAddress/AddressLine1Txt05301 N MARGINAL RD
ReturnHeader/Filer/USAddress/CityNm0CLEVELAND
ReturnHeader/Filer/USAddress/StateAbbreviationCd0OH
ReturnHeader/Filer/USAddress/ZIPCd044114
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0201656971
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0PTC FINANCIAL INC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05865 SEQUOIA CT
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MENTOR
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0OH
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd044060
ReturnHeader/PreparerPersonGrp/PhoneNum04409758860
ReturnHeader/PreparerPersonGrp/PreparationDt02025-06-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0KENNETH A BALOGH
ReturnHeader/PreparerPersonGrp/SelfEmployedInd0X
ReturnHeader/ReturnTs02025-06-03T04:52:48-00:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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