Hingham Yacht Club is located in Hingham, MA. The organization was established in 1949. 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 10/2022, Hingham Yacht Club employed 67 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Hingham 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 10/2022, Hingham Yacht Club generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $1.5m during the year ending 10/2022. While expenses have increased by 3.7% 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
THE CLUB OPERATES SEASONALLY WITH A VARIETY OF SOCIAL AND RECREATIONAL EVENTS FOR ITS MEMBERS AND IS COMMITTED TO THE DEVELOPMENT OF BOATING SKILLS AND WATER SAFETY INSTRUCTION FOR JUNIOR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE A YACHT CLUB FACILITY AND PROMOTE SAFETY AWARENESS, KNOWLEDGE AND SKILL IN POWER BOATING AND SAILING ACTIVITIES AMONG A MEMBERSHIP OF APPROXIMATELY 430 FAMILIES IN THE HINGHAM MA AREA.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jacob P Braley Chief Steward | Officer | 40 | $69,034 |
Christopher Burns Commodore And Director | OfficerTrustee | 1 | $0 |
Marc Hambley Treasurer | OfficerTrustee | 1 | $0 |
Tricia Connerly Secretary | OfficerTrustee | 1 | $0 |
Conrad Langenhagen Vice Commodore & Director | OfficerTrustee | 1 | $0 |
Tracey Buckeridge Member At Large | Trustee | 1 | $0 |
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 | $1,572,452 |
Investment income | $4,493 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $3,072 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,580,488 |
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 | $289,702 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $55,074 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $48,400 |
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 | $42,299 |
Information technology | $3,636 |
Royalties | $0 |
Occupancy | $195,669 |
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 | $101,477 |
Insurance | $172,982 |
All other expenses | $67,487 |
Total functional expenses | $1,536,655 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $126,226 |
Savings and temporary cash investments | $1,150,639 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $24,876 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $80,752 |
Net Land, buildings, and equipment | $859,178 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $2,241,671 |
Accounts payable and accrued expenses | $4,400 |
Grants payable | $0 |
Deferred revenue | $6,018 |
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 | $0 |
Total liabilities | $10,418 |
Net assets without donor restrictions | $2,231,253 |
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 | $2,241,671 |
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 |