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Diversey Y C INC

Not tax-deductible

Chicago, IL501(c)(7)Mutual / membership EIN 36-4008146Revenue $144K in FY2024Latest return filed May 15, 2025

On file with the IRS2601 N Cannon Dr, 60614-3232 · Chicago, ILTax-exempt since Aug 1996

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The club promotes corinthian yachting by operating a private yacht club for the benefit of its members, who are boaters in Diversey harbor, chicago, il.

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
Run by 10 volunteers and 3 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $6K a year · 5% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Cash reserves
2 mo
of spending, in cash
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$42K
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$144K
-2% vs prior year
Spent
$123K
Net assets
$212K
By yearFY2021–FY2024
Revenue
$144K
FY2024▼ -2%
Tap a bar for its year
Revenue by fiscal year
FY2021$101K
FY2022$118K
FY2023$148K
FY2024$144K
Expenses
$123K
FY2024▲ +12%
Tap a bar for its year
Expenses by fiscal year
FY2021$129K
FY2022$126K
FY2023$110K
FY2024$123K
Net assets
$212K
FY2024▲ +11%
Tap a bar for its year
Net assets by fiscal year
FY2021$149K
FY2022$141K
FY2023$190K
FY2024$212K

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 1996.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Ron Garcia
Director
$0Pt VII · Sec A
Adam Karras
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Ryan Naples
Director
$0Pt VII · Sec A
Roman Paluch
Director
$0Pt VII · Sec A
Alexandra Perraud
Secretary, Judge Advocate,
$0Pt VII · Sec A
See Diversey Y C INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Operates a private yacht club for boaters in Diversey Harbor, Chicago.

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Provided by the organization

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1 program · in their own filed words · FY2024
01

The purpose of the organization is pleasure, recreation, and other nonprofitable purposes of its members, all of whom share an active interest in yachting. The organization's purpose is to provide: 1)ACTIVITIES for the membership to pursue their shared interest in yachting.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$144K
Ln 12
Other incomeLn 4–11$92K
Gifts and grantsLn 1h$51K
Fees for servicesLn 2g$833
Money outPt IX
$123K
Ln 25
Owns and owesPt X
$212K
net assets · Ln 32
Cash and savingsLn 1–2$17K
Total assetsLn 16$254K
LiabilitiesLn 26$42K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$51K
Fees for servicesLn 2g$833
Investment incomeLn 3$1
Other incomeLn 4–11$92K
Total revenueLn 12$144K
Assets in detailPt X, end of year
CashLn 1$17K
Cash and savings togetherLn 1–2$17K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$254K
LiabilitiesLn 26$42K
Net assetsLn 32$212K
OperationsPt I, VI
EmployeesI 53
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$22K$17K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$229K$254K
LiabilitiesLn 26$39K$42K
Net assetsLn 32$190K$212K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$30K
Payroll taxesLn 10$4K
Other fees for servicesLn 11g$12K
Advertising and promotionLn 12$2K
Office expensesLn 13$5K
Information technologyLn 14$4K
OccupancyLn 16$16K
Conferences, conventions and meetingsLn 19$1K
InsuranceLn 23$12K
Other expenses (24a–d)Ln 24$35K
All other expensesLn 24e$2K
Total functional expensesLn 25$123K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest ViewingFiled with the IRS May 15, 2025 $144K$123K$22K$212K 990 PDF
FY2023Filed with the IRS May 15, 2025 $148K$110K$38K$190K 990 PDF
FY2022Filed with the IRS Nov 9, 2023 $118K$126K−$8K$141K 990 PDF
FY2021Filed with the IRS Feb 1, 2022 $101K$129K−$28K$149K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $144,337 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $48,144$51,336
I-9 Program service revenuePrior year $755$833
I-10 Investment incomePrior year $2$1
I-11 Other revenuePrior year $98,932$92,167
I-12 Total revenuePrior year $147,833$144,337
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $28,768$33,289
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $80,973$89,524
I-18 Total expensesPrior year $109,741$122,813
I-19 Revenue less expensesPrior year $38,092$21,524
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $144,337 across 5 lines filed
Lines not itemized here account for $92,167 of total revenue; see the IRS return.
VIII-1b Membership dues$51,336
VIII-1h Total contributions, gifts and grants$51,336
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $833$833
VIII-3 Investment incomeRelated to mission $1$1
VIII-12 Total revenueRelated to mission $93,001 · Unrelated business $0 · Excluded from tax $0$144,337
Part IX · Statement of functional expenses $122,813 across 11 lines filed
IX-7 Other salaries and wages$29,653
IX-10 Payroll taxes$3,636
IX-11g Other fees for services$11,608
IX-12 Advertising and promotion$2,485
IX-13 Office expenses$4,719
IX-14 Information technology$3,734
IX-16 Occupancy$16,142
IX-19 Conferences, conventions and meetings$1,070
IX-23 Insurance$12,296
IX-24 Other expenses (24a–d)$35,083
IX-24e All other expenses$2,387
IX-25 Total functional expenses$122,813
Part X · Balance sheet $253,913 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $21,979$17,041
X-4 Accounts receivableStart of year $190,345$219,687
X-8 Inventories for sale or useStart of year $17,141$17,185
X-10c Land, buildings and equipment, netStart of year $0$0
X-16 Total assetsStart of year $229,465$253,913
X-17 Accounts payable and accrued expensesStart of year $4,002$6,925
X-24 Unsecured notes and loans payableStart of year $35,000$35,000
X-26 Total liabilitiesStart of year $39,002$41,925
X-27 Net assets without donor restrictionsStart of year $190,463$211,988
X-32 Total net assets or fund balancesStart of year $190,463$211,988
X-33 Total liabilities and net assetsStart of year $229,465$253,913
Part XI · Reconciliation of net assets $211,988 net assets at year end
XI-1 Total revenue$144,337
XI-2 Total expenses$122,813
XI-3 Revenue less expenses$21,524
XI-4 Net assets at start of year$190,463
XI-9 Other changes in net assets$1
XI-10 Net assets at end of year$211,988

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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