Annisquam Yacht Club

The information for Annisquam Yacht Club is as of the organization's most recent filing in December 2020. This organization is located in Gloucester, MA. It has been in existence for 78 years, following its founding in 1942.

Organization Classification

The IRS classifies organizations according to the National Taxonomy of Exempt Entities (NTEE) system. The NTEE system helps the IRS assign a 3-character code to each organization to describe the organization's activities.

The Annisquam Yacht Club's NTEE code is N50. The "N" tells us that the organization is classified along with Recreation & Sports organizations. The "50" tells us that the organization is a Recreational Club. The NTEE describes Recreational Clubs as organizations that make available to members and their guests facilities for recreational activities, sports and games, as well as social clubs that provide opportunities for people to meet and socialize with their peers. These organizations are usually classified as 501(c)(7) organizations.

The mission of the Annisquam Yacht Club is to provide boating, tennis, and social events for its members and guests. The Club provides facilities for recreational activities, sports, and games, as well as social events for people to meet and socialize with their peers.

Program Areas

Program Area 1: Boating activities are supported by maintaining a marina, mooring field, and launch boat.

Program Area 2: The Clubhouse supports social activities and conveniences for members, including dining facilities.

Organization Staffing

Annisquam Yacht Club has 33 employees, 1 of whom was paid more than $100k according to the organization's most recent 990 tax filing. The organization does not have any volunteers supporting their paid staff.

Board Governance

The Annisquam Yacht Club is an exemplary non-profit organization that is well-governed and managed. With fourteen voting members and fourteen independent members, the board is structured in a way that ensures fairness and transparency. Additionally, the organization has taken steps to ensure that potential conflicts of interest do not exist, and has delegated management to an in-house team. The organization also takes great care to document board and committee meetings, and has a conflict of interest policy in place that requires disclosure of any potential conflicts. Furthermore, the Annisquam Yacht Club has a written whistleblower policy, document retention policy, and substantiates and reviews leadership and officer salaries. Finally, the organization provides copies of the 990 to the board prior to filing. All of these measures demonstrate a commitment to good governance and accountability.

Organization Growth

Over the past five years, the Annisquam Yacht Club has experienced growth in revenue, employee salaries, and total expenses. Program Service Revenue increased from $716.7K in 2015 to $1.1M in 2020. Employee Salaries increased from $253.3K in 2015 to $604.3K in 2020. Total Expenses increased from $718.9K in 2015 to $830.5K in 2020. However, the organization experienced a decrease in Investment Income and Other Revenue during this time period. Additionally, the total number of employees decreased from 54 in 2015 to 33 in 2020.