Conanicut Yacht Club
- Assets
- $2.8m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 81
- Location
- Jamestown, RI
- Founding
- 08/1972
- Data as of
- 12/2021
- EIN
- 05-0123595
Organization Overview
Conanicut Yacht Club is located in Jamestown, RI. The organization was established in 1972. 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 12/2021, Conanicut Yacht Club employed 81 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Conanicut 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, Conanicut Yacht Club generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.0% each year. All expenses for the organization totaled $1.9m during the year ending 12/2021. While expenses have increased by 8.3% 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 CONANICUT YACHT CLUB IS A PRIVATE, NON-PROFIT SOCIAL CLUB. IT OFFERS A FULL-SERVICE RESTAURANT, A FACILITY FOR RACQUET SPORTS, AS WELL AS SAILING AND BOATING ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX-EXEMPT ORGANIZATION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barry Stacer Club Manager | 60 | $135,866 | |
Andrew Kallfelz Commodore | OfficerTrustee | 2 | $0 |
Diane Gooding Secretary | OfficerTrustee | 2 | $0 |
Charles Beal Vice Coomodore | OfficerTrustee | 2 | $0 |
Tor Holtan Treasurer | OfficerTrustee | 1 | $0 |
Frank Pensa MD Fleet Surgeon | OfficerTrustee | 1 | $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 | $1,269,942 |
| Investment income | $113 |
| 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 | $681,189 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,951,244 |
| 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 | $891,481 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,683 |
| Payroll taxes | $87,713 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $422 |
| Fees for services: Accounting | $40,627 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $83,882 |
| Advertising and promotion | $0 |
| Office expenses | $69,282 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $88,819 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $43,105 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $152,671 |
| Insurance | $109,031 |
| All other expenses | $30,137 |
| Total functional expenses | $1,884,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,779 |
| Savings and temporary cash investments | $349,090 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $128,089 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $41,621 |
| Prepaid expenses and deferred charges | $62,314 |
| Net Land, buildings, and equipment | $2,166,917 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,751,810 |
| Accounts payable and accrued expenses | $126,876 |
| Grants payable | $0 |
| Deferred revenue | $11,113 |
| 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 | $906,862 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,739 |
| Total liabilities | $1,059,590 |
| Net assets without donor restrictions | $1,692,220 |
| 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 | $2,751,810 |
Endowment Analysis
| Beg. Balance | $252,767 |
| Earnings | $113 |
| Admin Expense | -$96,210 |
| Ending Balance | $349,090 |
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