Bucks Harbor Yacht Club
- Assets
- $1.6m
- Revenue
- $362.6k
- Investments
- $0.0
- Employees
- 14
- Location
- Blue Hill, ME
- Founding
- 07/1955
- Data as of
- 12/2023
- EIN
- 01-0242328
Organization Overview
Bucks Harbor Yacht Club is located in Blue Hill, ME. The organization was established in 1955. 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, Bucks Harbor Yacht Club employed 14 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bucks Harbor 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, Bucks Harbor Yacht Club generated $362.6k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.9% each year. All expenses for the organization totaled $315.3k during the year ending 12/2023. While expenses have increased by 6.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MEMBER SERVICES AND EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
JUNIOR SAILING PROGRAM PROVIDED INSTRUCTION IN BASIC SAILING, WATERFRONT SAFETY AND SAILBOAT RACING TO ABOUT 99 CHILDREN OF MEMBER FAMILIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ashley Oleyer Membership | Trustee | 1 | $0 |
George Eaton Commodore/legal | OfficerTrustee | 1 | $0 |
Peter Bartholow Treasurer/legal/taxes | OfficerTrustee | 3 | $0 |
Marilyn Heineman Secretary | OfficerTrustee | 3 | $0 |
Dan Cassidy Cruising | Trustee | 1 | $0 |
Andrew Macarthur Entertainment | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $204,350 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $47,875 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $252,225 |
| Total Program Service Revenue | $101,917 |
| Investment income | $7,010 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $500 |
| 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 | $993 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $362,645 |
| 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 | $44,482 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $4,016 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $805 |
| Fees for services: Accounting | $13,811 |
| 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 | $3,575 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $118,402 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15,517 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $37,287 |
| Insurance | $27,788 |
| All other expenses | $0 |
| Total functional expenses | $315,281 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $345,830 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,294,941 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,640,771 |
| Accounts payable and accrued expenses | $30,462 |
| 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 | $377,051 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $407,513 |
| 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 | $1,233,258 |
| Total liabilities and net assets/fund balances | $1,640,771 |