Metropolitan Yacht Club Inc
- Assets
- $1.4m
- Revenue
- $594.7k
- Investments
- $0.0
- Employees
- 10
- Location
- East Braintree, MA
- Founding
- 03/1976
- Data as of
- 11/2021
- EIN
- 04-2081270
Organization Overview
Metropolitan Yacht Club Inc is located in East Braintree, MA. The organization was established in 1976. 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 11/2021, Metropolitan Yacht Club Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Metropolitan 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 11/2021, Metropolitan Yacht Club Inc generated $594.7k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $582.2k during the year ending 11/2021. 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
YACHT CLUB RECREATION/SOCIAL
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB HAS ENCOURAGED AND PROMOTED YACHTING AND PROVIDED YACHTING AND PROVIDED A CLUB HOUSE, SLIPSPACE, HAULING AND STORAGE FACILITIES FOR ITS MEMBERS. THE CLUB ALSO RUNS SOCIAL ACTIVITIES FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Maryann Kozlow-Reid Past Commodore/program | OfficerTrustee | 1 | $0 |
Elaine Francomano Treasurer | OfficerTrustee | 20 | $0 |
Christine Borchers Past Commodore | OfficerTrustee | 10 | $0 |
Annette Augustine Assistant Treasurer | OfficerTrustee | 5 | $0 |
Charles Clarke Commodore | OfficerTrustee | 1 | $0 |
David Giagrando Secretary | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $555,906 |
| Investment income | $1,262 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $37,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $594,668 |
| 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 | $100,548 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,944 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,400 |
| 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 | $24,129 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $90,999 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $8,494 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $97,667 |
| Insurance | $0 |
| All other expenses | $45,381 |
| Total functional expenses | $582,183 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,925 |
| Savings and temporary cash investments | $465,719 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,591 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $15,688 |
| Prepaid expenses and deferred charges | $2,808 |
| Net Land, buildings, and equipment | $930,241 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,426,972 |
| Accounts payable and accrued expenses | $5,914 |
| Grants payable | $0 |
| Deferred revenue | $6,388 |
| 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 | $271,260 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $6,240 |
| Total liabilities | $289,802 |
| Net assets without donor restrictions | $671,376 |
| Net assets with donor restrictions | $465,794 |
| 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 | $1,426,972 |
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