Duxbury Yacht Club
- Assets
- $13.5m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 112
- Location
- Duxbury, MA
- Founding
- 07/1938
- Data as of
- 12/2022
- EIN
- 04-1266650
Organization Overview
Duxbury Yacht Club is located in Duxbury, MA. The organization was established in 1938. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2022, Duxbury Yacht Club employed 112 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Duxbury 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 12/2022, Duxbury Yacht Club generated $5.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $5.1m during the year ending 12/2022. While expenses have increased by 6.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE DUXBURY YACHT CLUB IS A FAMILY-ORIENTED, COMMITTEE-BASED, ACTIVITY-FOCUSED CLUB MAINTAINED PRINCIPALLY THROUGH THE VOLUNTEER EFFORTS OF ITS MEMBERS. AS A PRIVATE CLUB, WE ARE ORGANIZED AND OPERATED FOR THE ATHLETIC, RECREATIONAL AND SOCIAL USE OF OUR MEMBERS. WE ARE ONE CLUB WITH ONE MEMBERSHIP; ALL MEMBERS HAVE ACCESS TO ALL FACILITIES. THE CLUB IS COMMITTED TO WELL-MAINTAINED FACILITIES, TO OPERATING WITHIN A BALANCED BUDGET, AND TO REMAINING AFFORDABLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES RECREATIONAL ACTIVITIES, SUCH AS GOLF, WATERFRONT, TENNIS, POOL AND THEATRICAL ACTIVITIES TO ITS APPROXIMATELY 565 MEMBERS AND THEIR GUESTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frank P Tenaglia Commodore | OfficerTrustee | 4 | $0 |
Richmond Y Holden Jr Commodore (until 9/22) | OfficerTrustee | 4 | $0 |
Kurt D Franke Vice Commodore | OfficerTrustee | 4 | $0 |
Jessica Williams Rear Commodore (effective 9/22) | OfficerTrustee | 4 | $0 |
Morgan C Mohrman Treasurer | OfficerTrustee | 4 | $0 |
Sarah S Evans Secretary | OfficerTrustee | 4 | $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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,357,617 |
| Investment income | $2,819 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$15,023 |
| Net Gain/Loss on Asset Sales | $30,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,375,913 |
| 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 | $1,604,379 |
| Pension plan accruals and contributions | $32,658 |
| Other employee benefits | $190,510 |
| Payroll taxes | $180,409 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,723 |
| Fees for services: Accounting | $20,677 |
| 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 | $19,847 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $245,682 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $201,846 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $594,737 |
| Insurance | $191,853 |
| All other expenses | $332,199 |
| Total functional expenses | $5,086,446 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $734,135 |
| Savings and temporary cash investments | $1,198,462 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $196,994 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $19,554 |
| Prepaid expenses and deferred charges | $36,344 |
| Net Land, buildings, and equipment | $11,076,257 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $192,302 |
| Other assets | $0 |
| Total assets | $13,454,048 |
| Accounts payable and accrued expenses | $202,334 |
| 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 | $613,642 |
| Secured mortgages and notes payable | $1,394 |
| Unsecured mortgages and notes payable | $2,679,358 |
| Other liabilities | $310,750 |
| Total liabilities | $3,807,478 |
| Net assets without donor restrictions | $9,646,570 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $13,454,048 |