Cohasset Sailing Club Inc
- Assets
- $601.8k
- Revenue
- $218.2k
- Investments
- $0.0
- Employees
- 22
- Location
- Cohasset, MA
- Founding
- 05/1962
- Data as of
- 09/2024
- EIN
- 04-2270223
Organization Overview
Cohasset Sailing Club Inc is located in Cohasset, MA. The organization was established in 1962. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 09/2024, Cohasset Sailing Club Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cohasset Sailing Club Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2024, Cohasset Sailing Club Inc generated $218.2k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $276.5k during the year ending 09/2024. While expenses have increased by 8.6% per year over the past 8 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
SAILING INSTRUCTIONS FOR MEMBERS.
Describe the Organization's Program Activity:
SAILING INSTRUCTIONS FOR ALL MEMBERS. THE CLUB PROVIDES PUBLIC SAILING LESSONS FOR ALL MEMBERS. THE CLUB OPERATES SEVERAL SMALL SAILBOATS AND LAUNCHES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Shipp Treasurer | OfficerTrustee | 3 | $0 |
Sandy Crough Clerk | Trustee | 1 | $0 |
Vicky Grimes Clerk | OfficerTrustee | 3 | $0 |
Diane Shipp Director | Trustee | 1 | $0 |
Timothy O'brien Director | Trustee | 1 | $0 |
Scott Collins Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $70,750 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $71,250 |
| Total Program Service Revenue | $142,905 |
| Investment income | $3,006 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,496 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4,481 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $218,176 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $1,000 |
| 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 | $123,232 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $10,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,800 |
| 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 | $3,223 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $58,546 |
| Insurance | $18,526 |
| All other expenses | $14,655 |
| Total functional expenses | $276,545 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,790 |
| Savings and temporary cash investments | $71,484 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $10,290 |
| Net Land, buildings, and equipment | $512,217 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $601,781 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $601,781 |
| 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 | $601,781 |