Civic Intelligence

Little Traverse Yacht Club

EIN 38-1866922 • 501(c)7 • Harbor Springs, MI

Profile

Promotion of boating & water sports activities.

PO Box 584Harbor Springs, MI 49740

www.ltyc.org

Siviq Scores

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

Liabilities / Assets

38th percentile

0.00x

Higher debt load relative to assets than 38% of similar nonprofits.

501(c)7 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

38th percentile

0.00x

Higher debt load relative to revenue than 38% of similar nonprofits.

501(c)7 • $500k-$1M nonprofits • Source year 2024

Net Margin

63rd percentile

11%

Higher net margin than 63% of similar nonprofits.

501(c)7 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

89th percentile

$0

Higher top officer pay than 89% of similar nonprofits.

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

501(c)7 • $500k-$1M nonprofits • Source year 2024

Asset Growth

69th percentile

8.5%

Faster asset growth than 69% of similar nonprofits.

501(c)7 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Revenue Growth

80th percentile

20%

Faster revenue growth than 80% of similar nonprofits.

501(c)7 • $500k-$1M nonprofits • Annualized from 2023 to 2024

Assets

Up

$868,396

Up $68,333 (+8.5%) from 2023

Liabilities

Up

$1,837

Up $1,192 (+185%) from 2023

Net Assets

Up

$866,559

Up $67,141 (+8.4%) from 2023

Revenue

Up

$636,152

Up $107,196 (+20%) from 2023

Expenses

Up

$569,011

Up $74,955 (+15%) from 2023

Net Income

Up

$67,141

Up $32,241 (+92%) from 2023

Trend Graphs

Balance Sheet Trend

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

$1.0M$500K$0Assets 2012: $351,072Liabilities 2012: $9,378Net Assets 2012: $341,6942012Assets 2013: $445,465Liabilities 2013: $71,444Net Assets 2013: $374,0212013Assets 2014: $457,648Liabilities 2014: $66,899Net Assets 2014: $390,7492014Assets 2015: $473,804Liabilities 2015: $55,478Net Assets 2015: $418,3262015Assets 2016: $504,338Liabilities 2016: $6,883Net Assets 2016: $497,4552016Assets 2017: $543,003Liabilities 2017: $13,014Net Assets 2017: $529,9892017Assets 2018: $623,237Liabilities 2018: $11,223Net Assets 2018: $612,0142018Assets 2019: $727,204Liabilities 2019: $9,120Net Assets 2019: $718,0842019Assets 2020: $675,540Liabilities 2020: $15,817Net Assets 2020: $659,7232020Assets 2021: $714,072Liabilities 2021: $13,285Net Assets 2021: $700,7872021Assets 2022: $765,834Liabilities 2022: $1,316Net Assets 2022: $764,5182022Assets 2023: $800,063Liabilities 2023: $645Net Assets 2023: $799,4182023Assets 2024: $868,396Liabilities 2024: $1,837Net Assets 2024: $866,5592024

Highlighted filing

2024

Assets$868,396
Liabilities$1,837
Net Assets$866,559

Operations Trend

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

$800K$600K$400K$200K$0-$200KExpenses 2012: $226,6102012Revenue 2013: $288,240Expenses 2013: $255,913Net Income 2013: $32,3272013Revenue 2014: $307,166Expenses 2014: $290,438Net Income 2014: $16,7282014Revenue 2015: $309,381Expenses 2015: $281,804Net Income 2015: $27,5772015Revenue 2016: $370,987Expenses 2016: $291,858Net Income 2016: $79,1292016Revenue 2017: $377,558Expenses 2017: $345,024Net Income 2017: $32,5342017Revenue 2018: $425,439Expenses 2018: $343,414Net Income 2018: $82,0252018Revenue 2019: $510,990Expenses 2019: $404,920Net Income 2019: $106,0702019Revenue 2020: $348,690Expenses 2020: $383,615Net Income 2020: -$34,9252020Revenue 2021: $497,216Expenses 2021: $399,894Net Income 2021: $97,3222021Revenue 2022: $555,856Expenses 2022: $492,125Net Income 2022: $63,7312022Revenue 2023: $528,956Expenses 2023: $494,056Net Income 2023: $34,9002023Revenue 2024: $636,152Expenses 2024: $569,011Net Income 2024: $67,1412024

Highlighted filing

2024

Revenue$636,152
Expenses$569,011
Net Income$67,141

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$8.68$0.02$8.67$6.36$5.69$0.67
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$8.00$0.01$7.99$5.29$4.94$0.35
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.66$0.01$7.65$5.56$4.92$0.64
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.14$0.13$7.01$4.97$4.00$0.97
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.76$0.16$6.60$3.49$3.84$0.35
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$7.27$0.09$7.18$5.11$4.05$1.06
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$6.23$0.11$6.12$4.25$3.43$0.82
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.43$0.13$5.30$3.78$3.45$0.33
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$5.04$0.07$4.97$3.71$2.92$0.79
2015Detailed filing. Detailed filing data is available for this year.$4.74$0.55$4.18$3.09$2.82$0.28
2014Detailed filing. Detailed filing data is available for this year.$4.58$0.67$3.91$3.07$2.90$0.17
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.45$0.71$3.74$2.88$2.56$0.32
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.51$0.09$3.42$2.27
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Apr 24, 2025
Return Version
2024v5.1
Gross Receipts
$657,243
Mission and Program Overview

Mission

Promotion of boating & water sports activities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$799,418$866,559▲ $67,141
Land, Buildings, and Equipment, Net$337,860$307,800▼ $30,060
Savings and Temporary Cash Investments$267,159$302,410▲ $35,251
Cash and Non-Interest-Bearing Accounts$185,576$246,439▲ $60,863
Inventories for Sale or Use$6,924$6,924→ $0
Accounts Receivable$1,486$3,765▲ $2,279
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$800,063$868,396▲ $68,333
Other Assets Total$1,058$1,058→ $0
Liabilities
Accounts Payable and Accrued Expenses$645$1,837▲ $1,192
Total Liabilities$645$1,837▲ $1,192
Net Assets / Fund Balance
Total Net Assets Fund Balance$799,418$866,559▲ $67,141
Total Liabilities and Net Assets / Fund Balance$800,063$868,396▲ $68,333

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$277,622$344,910$622,532
Equipment$16,950$199,100$216,050
Leasehold Improvements$13,228$99,957$113,185
Other Land Buildings$0$6,200$6,200
Compensation and Service Providers

Board Members and Trustees

NameTitle
Kevin LarsonCommodore & Director
Beth VarnerDirector
David BerrymanDirector
Debi SchoenherrDirector
SEAN O'BRIENDirector
Tom MeijerDirector
George PeetRear Commodore & Director
Jan MancinelliTreasurer & Director
Dunne SaalVice Commodore & Director
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$612,934
Investment Income
$17,239
Other Revenue
$5,979
Change in Net Assets
$67,141
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$344,988
Salaries, Compensation, and Employee Benefits$224,023
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages---$195,973
All Other Expenses---$76,771
Occupancy---$68,163
Depreciation Depletion---$30,061
Insurance---$21,874
Payroll Taxes---$19,373
Other Expenses---$18,360
Information Technology---$10,855
Other Employee Benefits---$8,677
Fees for Services Legal---$5,100
Office Expenses---$4,062
Fees for Services Accounting---$2,937
Conferences and Meetings---$568
Total Functional Expenses$0$0$0$569,011
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

Organization's process to review form 990. The directors review a draft of form 990 in order to decide upon approval, and then receive a final copy.

Form 990, Part VI, Section B, Line 12C

Enforcement of conflicts policy. It is monitored with periodic review of the policy and have annual statements signed by directors, officers and members of committee with governing board delegated powers.

Form 990, Part VI, Section C, Line 19

Governing documents disclosure explanation. Documents available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Little Traverse Yacht Club
EIN
38-1866922
Phone
2315267919
Address
PO BOX 584, HARBOR SPRINGS, MI 49740

Signing Officer

Name
Kevin Larson
Title
President/commodore
Phone
2315267919
Signed
2025-04-24
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kevin Larson
Formed
1962
Legal Domicile
Mi
Voting Board Members
9
Independent Board Members
9
Employees
16
Volunteers
120

Preparer

Firm
Rasmussen Teller & Caron Pc
Address
555 MICHIGAN STREET, PETOSKEY, MI 49770
Preparer
David a George CPA
Phone
2313475555
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 24E

Racing & regatta party expenses 16,720. Racing exp - regatta general 13,442. Food program - small supplies 7,947. Dock expense 7,620. Member correspondence 5,692. Other expenses 5,303. Bottomland expense 3,050. Gen. Trophy & flag expense 3,037. Food program disposables 2,823. Dues & licenses 2,821. Social events - over/short 2,798. Social events - regatta trophies 1,693. Postage 1,510. Fish boil expenses 1,236. Linen supplies 1,079.

Raw XML Appendix362 raw XML fields

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

Path#Value
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IRS990/AccountsReceivableGrp/EOYAmt03765
IRS990/ActivitiesConductedPrtshpInd00
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IRS990/AllOtherExpensesGrp/TotalAmt076771
IRS990/AnnualDisclosureCoveredPrsnInd01
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IRS990/BooksInCareOfDetail/USAddress/CityNm0HARBOR SPRINGS
IRS990/BooksInCareOfDetail/USAddress/StateAbbreviationCd0MI
IRS990/BooksInCareOfDetail/USAddress/ZIPCd049740
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IRS990/ChangeToOrgDocumentsInd00
IRS990/CntrctRcvdGreaterThan100KCnt00
IRS990/CollectionsOfArtInd00
IRS990/CompensationFromOtherSrcsInd00
IRS990/CompensationProcessCEOInd00
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IRS990/ConservationEasementsInd00
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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt10
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IRS990/Form990PartVIISectionAGrp/TitleTxt4DIRECTOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6VICE COMMODORE & DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7TREASURER & DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8REAR COMMODORE & DIRECTOR
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IRS990/PYOtherRevenueAmt0356
IRS990/PYProgramServiceRevenueAmt0526771
IRS990/PYRevenuesLessExpensesAmt034900
IRS990/PYSalariesCompEmpBnftPaidAmt0179580
IRS990/PYTotalExpensesAmt0494056
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0528956
IRS990/ReconcilationRevenueExpnssAmt067141
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt0799418
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt0866559
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0267159
IRS990/SavingsAndTempCashInvstGrp/EOYAmt0302410
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BuildingsGrp/BookValueAmt0277622
IRS990ScheduleD/BuildingsGrp/DepreciationAmt0344910
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt0622532
IRS990ScheduleD/EquipmentGrp/BookValueAmt016950
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0199100
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt0216050
IRS990ScheduleD/LeaseholdImprovementsGrp/BookValueAmt013228
IRS990ScheduleD/LeaseholdImprovementsGrp/DepreciationAmt099957
IRS990ScheduleD/LeaseholdImprovementsGrp/OtherCostOrOtherBasisAmt0113185
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt00
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt06200
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt06200
IRS990ScheduleD/TotalBookValueLandBuildingsAmt0307800
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0ORGANIZATION'S PROCESS TO REVIEW FORM 990. THE DIRECTORS REVIEW A DRAFT OF FORM 990 IN ORDER TO DECIDE UPON APPROVAL, AND THEN RECEIVE A FINAL COPY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ENFORCEMENT OF CONFLICTS POLICY. IT IS MONITORED WITH PERIODIC REVIEW OF THE POLICY AND HAVE ANNUAL STATEMENTS SIGNED BY DIRECTORS, OFFICERS AND MEMBERS OF COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNING DOCUMENTS DISCLOSURE EXPLANATION. DOCUMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3RACING & REGATTA PARTY EXPENSES 16,720. RACING EXP - REGATTA GENERAL 13,442. FOOD PROGRAM - SMALL SUPPLIES 7,947. DOCK EXPENSE 7,620. MEMBER CORRESPONDENCE 5,692. OTHER EXPENSES 5,303. BOTTOMLAND EXPENSE 3,050. GEN. TROPHY & FLAG EXPENSE 3,037. FOOD PROGRAM DISPOSABLES 2,823. DUES & LICENSES 2,821. SOCIAL EVENTS - OVER/SHORT 2,798. SOCIAL EVENTS - REGATTA TROPHIES 1,693. POSTAGE 1,510. FISH BOIL EXPENSES 1,236. LINEN SUPPLIES 1,079.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 24E
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0800063
IRS990/TotalAssetsEOYAmt0868396
IRS990/TotalAssetsGrp/BOYAmt0800063
IRS990/TotalAssetsGrp/EOYAmt0868396
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalEmployeeCnt016
IRS990/TotalFunctionalExpensesGrp/TotalAmt0569011
IRS990/TotalGrossUBIAmt019663
IRS990/TotalLiabilitiesBOYAmt0645
IRS990/TotalLiabilitiesEOYAmt01837
IRS990/TotalLiabilitiesGrp/BOYAmt0645
IRS990/TotalLiabilitiesGrp/EOYAmt01837
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0799418
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0866559
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt042000
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt044424
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt02424
IRS990/TotalProgramServiceRevenueAmt0612934
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0616489
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0636152
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt019663
IRS990/TotalVolunteersCnt0120
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0800063
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0868396
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd01
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0PO BOX 584
IRS990/USAddress/CityNm0HARBOR SPRINGS
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd049740
IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WebsiteAddressTxt0WWW.LTYC.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0KEVIN LARSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT/COMMODORE
ReturnHeader/BusinessOfficerGrp/PhoneNum02315267919
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-04-24
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LITTLE TRAVERSE YACHT CLUB
ReturnHeader/Filer/BusinessNameControlTxt0LITT
ReturnHeader/Filer/EIN0381866922
ReturnHeader/Filer/PhoneNum02315267919
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 584
ReturnHeader/Filer/USAddress/CityNm0HARBOR SPRINGS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MI
ReturnHeader/Filer/USAddress/ZIPCd049740
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0382268582
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RASMUSSEN TELLER & CARON PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0555 MICHIGAN STREET
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0PETOSKEY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MI
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd049770
ReturnHeader/PreparerPersonGrp/PhoneNum02313475555
ReturnHeader/PreparerPersonGrp/PreparationDt02025-04-23
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0DAVID A GEORGE CPA
ReturnHeader/ReturnTs02025-06-10T14:16:29-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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