Kollege Widgwok Yacht Club
- Assets
- $1.4m
- Revenue
- $285.5k
- Investments
- $0.0
- Employees
- 9
- Location
- Blue Hill, ME
- Founding
- 04/1990
- Data as of
- 12/2020
- 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 12/2020, Kollege Widgwok Yacht Club employed 9 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 12/2020, Kollege Widgwok Yacht Club generated $285.5k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $265.3k during the year ending 12/2020. While expenses have increased by 0.5% per year over the past 6 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
2020
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 |
|---|---|---|---|
Sean Guinness Commodore | OfficerTrustee | 2 | $0 |
Tom Morris Vice Commodo | OfficerTrustee | 1 | $0 |
Amy Baker Secretary | OfficerTrustee | 1 | $0 |
Franklin Marsteller Treasurer | OfficerTrustee | 1 | $0 |
Andrew Baldwin Rear Commodo | OfficerTrustee | 1 | $0 |
Lesley Hill Trustee/dire | Trustee | 0.5 | $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 | $23,087 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $23,087 |
| Total Program Service Revenue | $218,388 |
| Investment income | $13,265 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,026 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $13,757 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $285,523 |
| 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 | $82,834 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,469 |
| Payroll taxes | $7,685 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $31,313 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,299 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $21,879 |
| 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 | $26,533 |
| Insurance | $13,699 |
| All other expenses | $2,191 |
| Total functional expenses | $265,269 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $86,716 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $35,034 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $16,058 |
| Prepaid expenses and deferred charges | $8,205 |
| Net Land, buildings, and equipment | $395,025 |
| Investments—publicly traded securities | $848,903 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,389,941 |
| Accounts payable and accrued expenses | $1,076 |
| 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 | $0 |
| Total liabilities | $1,076 |
| Net assets without donor restrictions | $1,364,506 |
| Net assets with donor restrictions | $24,359 |
| 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 | $1,389,941 |
Endowment Analysis
| Beg. Balance | $766,510 |
| Earnings | $96,299 |
| Admin Expense | $40 |
| Net Contributions | $26,134 |
| Other Expense | $40,000 |
| Ending Balance | $848,903 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Abenaqui Country Club Inc Rye Beach, NH | $11,569,362 | $5,766,433 |
Concord Country Club Inc Concord, NH | $6,058,459 | $2,790,270 |
Prouts Neck Country Club Scarborough, ME | $3,246,004 | $2,096,508 |
Tarratine Club Of Dark Harbor Islesboro, ME | $2,645,678 | $2,091,747 |
Portland Yacht Club Falmouth Foreside, ME | $1,533,737 | $1,302,327 |
Boothbay Harbor Yacht Club Boothbay Harbor, ME | $2,743,334 | $1,117,959 |
Waterville Country Club Incorporated Oakland, ME | $1,463,179 | $1,286,580 |
Cumberland Club Portland, ME | $1,650,916 | $1,185,645 |
Causeway Club Inc Southwest Harbor, ME | $2,689,618 | $1,380,527 |
L S P Association Gilford, NH | $2,550,176 | $844,392 |
Dublin Lake Club Dublin, NH | $2,497,545 | $929,278 |
Harbor Club Inc Mt Desert, ME | $2,270,487 | $842,935 |