Edgartown Yacht Club Inc
- Assets
- $21.4m
- Revenue
- $5.0m
- Investments
- $2.5m
- Employees
- 139
- Location
- Edgartown, MA
- Founding
- 12/1942
- Data as of
- 09/2024
- EIN
- 04-1278322
Organization Overview
Edgartown Yacht Club Inc is located in Edgartown, MA. The organization was established in 1942. 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 09/2024, Edgartown Yacht Club Inc employed 139 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edgartown Yacht Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 09/2024, Edgartown Yacht Club Inc generated $5.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.4% each year. All expenses for the organization totaled $4.2m during the year ending 09/2024. While expenses have increased by 4.7% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
RECREATIONAL ACTIVITIES AS WELL AS FOOD AND BEVERAGE SERVICES FOR CLUB MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FOOD, BEVERAGE, AND RECREATIONAL ACTIVITIES FOR CLUB MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Russ Salisbury Commodore | OfficerTrustee | 5 | $0 |
Andrew C Smith Vice Commodore | OfficerTrustee | 5 | $0 |
Harald B Findlay Rear Commodore | OfficerTrustee | 5 | $0 |
Lynn M Everdell Treasurer | Officer | 4 | $0 |
Patrick E Bradley Secretary | Officer | 3 | $0 |
Elizabeth Balay Trustee | Trustee | 2 | $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 | $4,731,948 |
| Investment income | $103,076 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $59,584 |
| Net Gain/Loss on Asset Sales | $43,839 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $36,676 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,975,123 |
| 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 | $1,523,561 |
| Pension plan accruals and contributions | $71,358 |
| Other employee benefits | $343,246 |
| Payroll taxes | $154,147 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $57,584 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $76,985 |
| Advertising and promotion | $0 |
| Office expenses | $152,042 |
| Information technology | $72,108 |
| Royalties | $0 |
| Occupancy | $401,076 |
| Travel | $26,405 |
| 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 | $560,541 |
| Insurance | $83,588 |
| All other expenses | $67,783 |
| Total functional expenses | $4,180,663 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $882,523 |
| Savings and temporary cash investments | $536,455 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $809,860 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $150,574 |
| Prepaid expenses and deferred charges | $39,760 |
| Net Land, buildings, and equipment | $16,471,914 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,499,787 |
| Investments—program-related | $0 |
| Intangible assets | $10,066 |
| Other assets | $0 |
| Total assets | $21,400,939 |
| Accounts payable and accrued expenses | $513,198 |
| 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 | $297,053 |
| Total liabilities | $810,251 |
| Net assets without donor restrictions | $20,590,688 |
| 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 | $21,400,939 |