Old Colony Yacht Club
- Assets
- $552.0k
- Revenue
- $509.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Dorchester, MA
- Founding
- 07/1952
- Data as of
- 12/2021
- EIN
- 04-2137056
Organization Overview
Old Colony Yacht Club is located in Dorchester, MA. The organization was established in 1952. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Old Colony 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 12/2021, Old Colony Yacht Club generated $509.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $544.0k during the year ending 12/2021. While expenses have increased by 0.3% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE OBJECTIVE OF THE CLUB IS TO PROMOTE AND ENCOURAGE SAILING, ROWING, YACHTING, NAUTICAL SCIENCE AND SOCIAL MEETINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTION AND ENCOURAGMENT OF SAILING, ROWING, YACHTING, NAUTICAL SCIENCE AND SOCIAL MEETINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Harrington Treasurer | Officer | 4 | $0 |
Christopher Croke Clerk | Officer | 4 | $0 |
James Shea Director | Trustee | 2 | $0 |
Michael Boyce Director | Trustee | 4 | $0 |
Owen O'neill Director | Trustee | 2 | $0 |
Richard Ruffini President | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $51,400 |
| 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 | $51,400 |
| Total Program Service Revenue | $404,277 |
| Investment income | $57 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $53,872 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $509,606 |
| 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 | $104,876 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,768 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,370 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $15,774 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $114,563 |
| Insurance | $0 |
| All other expenses | $127,217 |
| Total functional expenses | $544,026 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,599 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,468 |
| Prepaid expenses and deferred charges | $27,932 |
| Net Land, buildings, and equipment | $487,641 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,327 |
| Total assets | $551,967 |
| Accounts payable and accrued expenses | $20,603 |
| 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 | $279,691 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | -$726 |
| Total liabilities | $299,568 |
| Net assets without donor restrictions | $0 |
| 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 | $252,399 |
| Total liabilities and net assets/fund balances | $551,967 |
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