Camden Yacht Club
- Assets
- $575.8k
- Revenue
- $713.0k
- Investments
- $0.0
- Employees
- 22
- Location
- Camden, ME
- Founding
- 10/1967
- Data as of
- 12/2022
- EIN
- 01-0039552
Organization Overview
Camden Yacht Club is located in Camden, ME. The organization was established in 1967. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Camden Yacht Club employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Camden Yacht Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Camden Yacht Club generated $713.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $685.3k during the year ending 12/2022. While expenses have increased by 4.5% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PURPOSE OF PROMOTING ALL ASPECTS OF BOATING BY PROVIDING:FACILITIES TO SUPPORT OPERATIONAL NEEDS, PROGRAMS RELATED TO SOCIAL AND EDUCATIONAL ACTIVITIES AFLOAT & ASHORE. AS A MEMBER OF THE WIDER COMMUNITY, CYC, AT ITS DISCRETION MAKES AVAILABLE CERTAIN PROGRAMS FOR THE BENEFIT OF NON-MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NOT APPLICABLE
NOT APPLICABLE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Colleen Duggan Commodore | OfficerTrustee | $0 | |
Sue Pfau Treasurer | OfficerTrustee | $0 | |
William Kirill Director | Trustee | $0 | |
Peter Bowen Secretary | OfficerTrustee | $0 | |
Amy Thomsen Director | Trustee | $0 | |
Mary Ann Roberts Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $497,846 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,175 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $529,021 |
| Total Program Service Revenue | $168,888 |
| Investment income | $227 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $10,252 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$21 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,092 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $713,032 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $99,793 |
| Pension plan accruals and contributions | $1,350 |
| Other employee benefits | $0 |
| Payroll taxes | $13,531 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $95,038 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,351 |
| Insurance | $40,064 |
| All other expenses | $12,372 |
| Total functional expenses | $685,257 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $35,497 |
| Savings and temporary cash investments | $126,327 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $852 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,844 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $407,901 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $226 |
| Other assets | -$861 |
| Total assets | $575,786 |
| Accounts payable and accrued expenses | $264 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,443 |
| Total liabilities | $12,707 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $563,079 |
| Total liabilities and net assets/fund balances | $575,786 |