Kollege Widgwok Yacht Club
- Assets
- $1.5m
- Revenue
- $475.9k
- Investments
- $0.0
- Employees
- 17
- Location
- Blue Hill, ME
- Founding
- 04/1990
- Data as of
- 12/2023
- EIN
- 01-0217552
Organization Overview
Kollege Widgwok Yacht Club is located in Blue Hill, ME. The organization was established in 1990. 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 12/2023, Kollege Widgwok Yacht Club employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kollege Widgwok 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 12/2023, Kollege Widgwok Yacht Club generated $475.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $473.2k during the year ending 12/2023. While expenses have increased by 7.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE SAILING AND RECREATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ESTABLISH, MAINTAIN AND CONDUCT A YACHT CLUB FOR THE BENEFIT OF MEMBERS; TO PROMOTE YACHTING AND YACHT RACING AS AMATEUR SPORTS; TO PROVIDE A CLUB HOUSE; TO MAINTAIN BOATS, LANDING STAGES AND OTHER CONVENIENCES; TO PROVIDE MEMBERS WITH ALL THE USUAL PRIVILEGES, ADVANTAGES, CONVENIENCES AND ACCOMMODATIONS OF A YACHT CLUB; AND TO PERFORM ALL ACTS NECESSARY AND INCIDENT TO THE ABOVE-NAMED PURPOSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Morris Commodore | OfficerTrustee | 6 | $0 |
Andrew Baldwin Vice Commodo | OfficerTrustee | 4 | $0 |
Mark Politte Treasurer | OfficerTrustee | 4 | $0 |
Amy Baker Secretary | OfficerTrustee | 4 | $0 |
Katherine Semler Trustee/dire | Trustee | 2 | $0 |
Charlotte Taylor Trustee/dire | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $48,275 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $48,275 |
| Total Program Service Revenue | $298,542 |
| Investment income | $21,667 |
| 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 | $42,132 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $475,862 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,000 |
| 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 | $147,346 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $14,204 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $46,253 |
| 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 | $5,766 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $27,931 |
| 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 | $26,423 |
| Insurance | $21,568 |
| All other expenses | $10,624 |
| Total functional expenses | $473,209 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $49,331 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,671 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $20,862 |
| Prepaid expenses and deferred charges | $8,844 |
| Net Land, buildings, and equipment | $406,048 |
| Investments—publicly traded securities | $1,011,090 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,440 |
| Total assets | $1,532,286 |
| Accounts payable and accrued expenses | $10,278 |
| 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 | $213,059 |
| Total liabilities | $223,337 |
| Net assets without donor restrictions | $1,301,277 |
| Net assets with donor restrictions | $7,672 |
| 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 | $1,532,286 |