Northeast Harbor Fleet
- Assets
- $1.4m
- Revenue
- $509.1k
- Investments
- $427.8k
- Employees
- 11
- Location
- Northeast Harbor, ME
- Founding
- 03/1954
- Data as of
- 12/2023
- EIN
- 01-0198980
Organization Overview
Northeast Harbor Fleet is located in Northeast Harbor, ME. The organization was established in 1954. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Northeast Harbor Fleet employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Northeast Harbor Fleet is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Northeast Harbor Fleet generated $509.1k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.9% each year. All expenses for the organization totaled $335.3k during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
YACHT CLUB FOR THE PROMOTION OF YACHTING AS AN AMATEUR SPORT AT NORTHEAST HARBOR IN THE TOWN OF MT. DESERT, MAINE AND IT'S VICINITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONDUCTS RACING FOR SEVERAL ONE-DESIGN CLASSES AND A CRUSISING CLASS. HOSTS MAJOR REGIONAL AND WORLD SAILING CHAMPIONSHIPS AND THEIR PARTICIPANTS.
PROVIDES GROUNDS, FACILITIES AND SUPPORT FOR THE NORTHEAST HARBOR SAILING SCHOOL, AND PROMOTES SAILING THROUGH EDUCATIONAL SEMINARS FOR AREA SAILORS.
PROVIDING A BASE OF OPERATIONS, INCLUDING DOCKS, FLOATS, MOORINGS AND LAUNCHES FOR THE USE OF WATERCRAFT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mia Thompson President/co | OfficerTrustee | 1 | $0 |
Marion Macneish-Marron Treasurer | OfficerTrustee | 1 | $0 |
John Henry Vice Commodo | OfficerTrustee | 1 | $0 |
Peter Ill Rear Commodo | OfficerTrustee | 1 | $0 |
Lee Freeman Fox Clerk | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $471,540 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $471,540 |
| Total Program Service Revenue | $30,573 |
| Investment income | $6,937 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $509,050 |
| 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 | $107,280 |
| Pension plan accruals and contributions | $11,757 |
| Other employee benefits | $17,114 |
| Payroll taxes | $6,983 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $401 |
| Fees for services: Accounting | $22,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $7,853 |
| Advertising and promotion | $0 |
| Office expenses | $13,198 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,944 |
| 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 | $15,993 |
| Insurance | $12,435 |
| All other expenses | $0 |
| Total functional expenses | $335,339 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $125,092 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $88,163 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $6,728 |
| Net Land, buildings, and equipment | $120,616 |
| Investments—publicly traded securities | $584,543 |
| Investments—other securities | $427,822 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,352,964 |
| Accounts payable and accrued expenses | $12,148 |
| 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 | $1,411 |
| Total liabilities | $13,559 |
| Net assets without donor restrictions | $1,339,405 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,352,964 |