East Greenwich Yacht Club is located in East Greenwich, RI. The organization was established in 1942. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 12/2021, East Greenwich Yacht Club employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Greenwich 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, East Greenwich Yacht Club generated $2.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.5% each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. While expenses have increased by 4.1% 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
TO PROVIDE FACILITIES NECESSARY FOR RI FAMILIES TO ENJOY MARINE ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
DOCKAGE & RELATED MARINE SERVICES - PROVIDE NECESSARY FACILITIES AND SERVICES FOR ENJOYMENT OF MARINE ACTIVITIES BY APPROXIMATELY 350 MEMBERS AND THEIR FAMILIES
WINTER STORAGE OF MEMBERS' BOATS - PROVIDED ADEQUATE AND SECURE FACILITIES FOR WINTER BOAT STORAGE FOR APPROXIMATELY 300 MEMBERS
RACE COMMITTEE/CLUB FUNCTIONS AND EVENTS - ESTABLISHED A RACE COMMITTEE TO PLAN, MONITOR AND JUDGE SAILBOAT RACES TO PROMOTE THE SPORT. THE FACILITIES ARE USED TO HOLD MEMBER EVENTS AND TO PROMOTE AND ENHANCE COMRADERY AMONGST MEMBERS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
John Mollicone Commodore | Officer | 10 | $0 |
William Hertel Treasurer | Officer | 15 | $0 |
Vincent Mcateer III Rear Commodore | Officer | 3 | $0 |
Rob Hamlin Vice Commodore | Officer | 3 | $0 |
Alan Miano Secretary | Officer | 3 | $0 |
Todd Johnston Trustee | Trustee | 1 | $0 |
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 | $1,510,554 |
Investment income | $508 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $45,671 |
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 | $307,927 |
Miscellaneous Revenue | $0 |
Total Revenue | $2,108,173 |
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 | $399,875 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $46,746 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $12,375 |
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 | $10,961 |
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 | $85,612 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $281,770 |
Insurance | $0 |
All other expenses | $22,608 |
Total functional expenses | $1,671,988 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $494,009 |
Savings and temporary cash investments | $405,472 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $151,508 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $25,000 |
Inventories for sale or use | $82,164 |
Prepaid expenses and deferred charges | $15,848 |
Net Land, buildings, and equipment | $4,605,073 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $31,783 |
Other assets | $0 |
Total assets | $5,810,857 |
Accounts payable and accrued expenses | $124,480 |
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 | $2,383,494 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $490,827 |
Total liabilities | $2,998,801 |
Net assets without donor restrictions | $2,812,056 |
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 | $5,810,857 |
Over the last fiscal year, we have identified 1 grants that East Greenwich Yacht Club has recieved totaling $250.
Awarding Organization | Amount |
---|---|
Harborone Foundation Of Rhode Island Brockton, MA PURPOSE: YOUTH SERVICES | $250 |
Organization Name | Assets | Revenue |
---|---|---|
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |
Greenwich Country Club Greenwich, CT | $48,407,804 | $23,136,592 |
Wellesley Country Club Wellesley, MA | $55,523,277 | $17,353,733 |
Woodway Country Club Incorporated Darien, CT | $32,570,201 | $14,880,536 |
Round Hill Club Incorporated Greenwich, CT | $26,532,622 | $13,385,000 |
Country Club Of New Canaan New Canaan, CT | $36,388,345 | $15,800,201 |
The Stanwich Club Incorporated Greenwich, CT | $33,116,377 | $12,033,633 |
Country Club Of Darien Darien, CT | $36,108,761 | $11,698,340 |
Pinebrook Country Club Inc Weston, MA | $32,646,318 | $13,203,918 |
Brae Burn Country Club West Newton, MA | $26,622,764 | $12,323,812 |
Tamarack Country Club Inc Greenwich, CT | $21,944,422 | $12,683,379 |
Burning Tree Country Club Inc Greenwich, CT | $31,629,818 | $12,623,577 |