Lake Sunapee Yacht Club
- Assets
- $1.2m
- Revenue
- $509.6k
- Investments
- $0.0
- Employees
- 73
- Location
- Sunapee, NH
- Founding
- 07/1952
- Data as of
- 10/2020
- EIN
- 02-0226712
Organization Overview
Lake Sunapee Yacht Club is located in Sunapee, NH. The organization was established in 1952. 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 10/2020, Lake Sunapee Yacht Club employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lake Sunapee 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 10/2020, Lake Sunapee Yacht Club generated $509.6k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.0%) each year. All expenses for the organization totaled $435.7k during the year ending 10/2020. As we would expect to see with falling revenues, expenses have declined by (3.5%) per year over the past 6 years. 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
THE CLUB WAS ORGANIZED TO PROVIDE SOCIAL AND RECREATIONAL FACILITIES FOR ITS MEMBERS AND THEIR GUESTS, WITH AN EMPHASIS ON YACHTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE YACHT RACING, LAUNCH, AND OTHER WATERFRONT SERVICES TO MEMBERS AND THEIR GUESTS
PROVIDE TENNIS, SWIMMING, AND SAILING LESSONS TO MEMBERS AND THEIR GUESTS
PROVIDE FOOD, BEVERAGE, AND CLUB AMENITIES TO MEMBERS AND THEIR GUESTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ali Mahra General Manager | Officer | 40 | $60,000 |
Dave Goddard Vice Commodore | OfficerTrustee | 4 | $0 |
Tona White Commodore | OfficerTrustee | 12 | $0 |
Michael O'l0ughlin Treasurer | OfficerTrustee | 8 | $0 |
Laurie Matthews Secretary | OfficerTrustee | 2 | $0 |
Susan Gorgi Rear Commodore | OfficerTrustee | 4 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $43 |
| 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 | $5,660 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $509,585 |
| Statement of Expenses | |
|---|---|
| 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. | $60,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,945 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,465 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,812 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,263 |
| Office expenses | $13,059 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $101,771 |
| 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 | $105,570 |
| Insurance | $35,105 |
| All other expenses | $0 |
| Total functional expenses | $435,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $173,296 |
| Savings and temporary cash investments | $37,794 |
| 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 | $5,616 |
| Prepaid expenses and deferred charges | $31,999 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,150,191 |
| Accounts payable and accrued expenses | $13,567 |
| 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 | $12,000 |
| Total liabilities | $25,567 |
| 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 |
| Total liabilities and net assets/fund balances | $1,124,624 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New England Sailing Foundation Inc Marblehead, MA | $32,351 | $1,795,441 |
Community Boating Inc Boston, MA | $5,688,954 | $2,833,055 |
Winchester Boat Club Winchester, MA | $5,238,512 | $1,099,002 |
Nantucket Community Sailing Inc Nantucket, MA | $4,938,871 | $779,029 |
Piers Park Sailing Center Inc East Boston, MA | $910,975 | $1,064,918 |
Pleasant Bay Community Boating Inc North Chatham, MA | $4,919,007 | $1,766,472 |
Kennebunk Beach Improvement Association Kennebunk, ME | $1,718,660 | $896,686 |
Cambridge Boat Club Cambridge, MA | $1,664,674 | $711,494 |
Winchester Swim Club Inc South Dartmouth, MA | $1,267,611 | $790,941 |
Medford Boat Club Medford, MA | $684,000 | $575,807 |
Greater Lawrence Community Boating Program Inc Lawrence, MA | $340,881 | $480,989 |
Lake Sunapee Yacht Club Sunapee, NH | $1,150,191 | $509,585 |