Boston Yacht Club
- Assets
- $4.2m
- Revenue
- $3.2m
- Investments
- $0.0
- Employees
- 120
- Location
- Marblehead, MA
- Founding
- 11/1964
- Data as of
- 12/2021
- EIN
- 04-1108550
Organization Overview
Boston Yacht Club is located in Marblehead, MA. The organization was established in 1964. 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 12/2021, Boston Yacht Club employed 120 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Boston 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 12/2021, Boston Yacht Club generated $3.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $3.0m during the year ending 12/2021. While expenses have increased by 0.5% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE GENERAL INTEREST OF THE MEMBERS IN YACHTING, PROVIDE A SOCIAL RELATIONSHIP AMONG MEMBERS AND PROVIDE FACILITIES FOR MEMBER YACHTING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YACHT CLUB AND RELATED SERVICES: 1) PROMOTING THE GENERAL INTEREST OF THE MEMBERS IN YACHTING, 2) PROVIDING A SOCIAL RELATIONSHIP AMONG MEMBERS, 3) PROVIDING FACILITIES FOR MEMBER YACHTING
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bruce Baker Vice Commodore | OfficerTrustee | 8 | $0 |
Thomas Mager Commodore | OfficerTrustee | 8 | $0 |
William Watt Rear Commodore | OfficerTrustee | 8 | $0 |
Julie Livingston Secretary | OfficerTrustee | 6 | $0 |
Donald R Humphrey Jr Treasurer | OfficerTrustee | 6 | $0 |
Philip Deveaux Fleet Captain | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,644,623 |
| 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 | $1,644,623 |
| Total Program Service Revenue | $328,714 |
| Investment income | $33 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $22,432 |
| 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 | $763,018 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,242,838 |
| 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 | $1,328,906 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $252,242 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,590 |
| Fees for services: Accounting | $19,156 |
| 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 | $96,470 |
| Information technology | $44,504 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $33,797 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $241,662 |
| Insurance | $0 |
| All other expenses | $323,426 |
| Total functional expenses | $2,962,922 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,877 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $233,465 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $170,554 |
| Prepaid expenses and deferred charges | $20,202 |
| Net Land, buildings, and equipment | $3,599,190 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,161,288 |
| Accounts payable and accrued expenses | $121,864 |
| Grants payable | $0 |
| Deferred revenue | $29,092 |
| 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 | $572,615 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $723,571 |
| Net assets without donor restrictions | $3,431,481 |
| Net assets with donor restrictions | $6,236 |
| 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 | $4,161,288 |
Endowment Analysis
| Beg. Balance | $6,236 |
| Ending Balance | $6,236 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Old Westbury Golf & Country Club Inc Old Westbury, NY | $24,637,751 | $16,881,231 |
Innis Arden Golf Club Inc Old Greenwich, CT | $33,992,814 | $14,860,228 |
Hudson National Golf Club Inc Croton On Hudson, NY | $51,687,185 | $12,086,027 |
Nantucket Golf Club Inc Siasconset, MA | $41,080,926 | $8,761,983 |
Great Harbor Yacht Club Inc Nantucket, MA | $67,641,341 | $7,821,481 |
Fisher Island Club Inc Fishers Island, NY | $26,382,427 | $9,842,592 |
Golf Club Of Marthas Vineyard Inc Edgartown, MA | $54,618,022 | $7,664,048 |
Noyac Golf Club Inc Sag Harbor, NY | $25,263,669 | $11,022,614 |
Greenwich Water Club Inc Cos Cob, CT | $34,734 | $8,500,732 |
Huntington Crescent Club Inc Huntington, NY | $18,101,805 | $9,571,803 |
Mill River Club Inc Oyster Bay, NY | $11,730,867 | $8,340,769 |
Oakley Country Club Watertown, MA | $19,643,392 | $9,027,669 |