Edgartown Yacht Club Inc
- Assets
- $19.5m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 124
- Location
- Edgartown, MA
- Founding
- 12/1942
- Data as of
- 09/2022
- 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 09/2022, Edgartown Yacht Club Inc employed 124 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 09/2022, Edgartown Yacht Club Inc generated $3.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $3.7m during the year ending 09/2022. While expenses have increased by 4.4% 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
2022
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 |
|---|---|---|---|
Joseph Holland Director Of Tennis | 40 | $257,757 | |
William J Roman Club Manager | 52 | $200,221 | |
Scott Fish Controller/administrative Manager | 50 | $137,337 | |
Ezra Agnew Maintenance Supervisor | 40 | $105,783 | |
Howard F Powers Jr Commodore | OfficerTrustee | 5 | $0 |
Russ Salisbury Vice Commodore | OfficerTrustee | 5 | $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 | $10,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,000 |
| Total Program Service Revenue | $3,710,464 |
| Investment income | $43,920 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $51,292 |
| Net Gain/Loss on Asset Sales | $11,861 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $96,089 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,923,626 |
| 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 | $1,407,950 |
| Pension plan accruals and contributions | $73,165 |
| Other employee benefits | $314,532 |
| Payroll taxes | $134,435 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,258 |
| Fees for services: Accounting | $38,276 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $72,321 |
| Advertising and promotion | $0 |
| Office expenses | $143,976 |
| Information technology | $68,355 |
| Royalties | $0 |
| Occupancy | $336,270 |
| Travel | $11,205 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,557 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $586,349 |
| Insurance | $83,567 |
| All other expenses | $40,644 |
| Total functional expenses | $3,732,647 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,724 |
| Savings and temporary cash investments | $848,519 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $711,400 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $104,792 |
| Prepaid expenses and deferred charges | $42,463 |
| Net Land, buildings, and equipment | $16,140,980 |
| Investments—publicly traded securities | $1,438,892 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,483,770 |
| Accounts payable and accrued expenses | $406,809 |
| 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 | $127,742 |
| Total liabilities | $534,551 |
| Net assets without donor restrictions | $18,949,219 |
| 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 | $19,483,770 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Edgartown Yacht Club Inc has recieved totaling $10,500.
| Awarding Organization | Amount |
|---|---|
Robert Dudley Harrington Jr Charitable Foundation New York, NY PURPOSE: GENERAL EXEMPT PURPOSE | $10,000 |
Stiassni Family Foundation Rancho Palos Verdes, CA PURPOSE: TO PERPETUATE MARITIME TRADITIONS | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Oak Hill Country Club Rochester, NY | $24,513,885 | $17,798,483 |
Greenwich Country Club Greenwich, CT | $48,407,804 | $23,136,592 |
Harvard Club Of New York City New York, NY | $57,363,784 | $14,784,742 |
Wellesley Country Club Wellesley, MA | $55,523,277 | $17,353,733 |
Colony Club New York, NY | $19,784,366 | $16,065,896 |
Creek Inc Locust Valley, NY | $5,369,299 | $13,749,282 |
Woodway Country Club Incorporated Darien, CT | $32,570,201 | $14,880,536 |
Round Hill Club Incorporated Greenwich, CT | $26,532,622 | $13,385,000 |