Edgewood Yacht Club
- Assets
- $1.6m
- Revenue
- $497.6k
- Investments
- $0.0
- Employees
- 21
- Location
- Cranston, RI
- Founding
- 10/1947
- Data as of
- 12/2021
- EIN
- 05-0134942
Organization Overview
Edgewood Yacht Club is located in Cranston, RI. The organization was established in 1947. 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, Edgewood Yacht Club employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Edgewood 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, Edgewood Yacht Club generated $497.6k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $406.0k during the year ending 12/2021. While expenses have increased by 10.1% 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
OPERATION OF A NON-PROFIT YACHT CLUB FOR THE USE OF MEMBERS AND TO PROVIDE DOCKAGE AND ANCHORAGE FOR MEMBERS BOATS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE DOCKAGE AND ANCHORAGE FOR MEMBERS BOATS AND RELATED SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneeth Gilbert Commodore | OfficerTrustee | 5 | $0 |
Christopher Lee Rear Commodore | OfficerTrustee | 5 | $0 |
Vincent Delloiocono Vice Commodore | OfficerTrustee | 5 | $0 |
Nancy Plumb Fleet Captain | OfficerTrustee | 5 | $0 |
Robert Jones Treasurer | OfficerTrustee | 5 | $0 |
Daniel Bentley Assistant Treasurer | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $183,093 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $24,279 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $207,372 |
| Total Program Service Revenue | $271,689 |
| Investment income | $9 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $5,249 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $497,606 |
| 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 | $79,021 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,534 |
| Payroll taxes | $13,978 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,666 |
| Office expenses | $7,078 |
| 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 | $43,548 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $50,901 |
| Insurance | $63,274 |
| All other expenses | $38,189 |
| Total functional expenses | $406,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,339 |
| Savings and temporary cash investments | $10,042 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,531 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,000 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,462,577 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,578 |
| Total assets | $1,561,067 |
| Accounts payable and accrued expenses | $202 |
| 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 | $867,769 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $855 |
| Total liabilities | $868,826 |
| 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 | $89,696 |
| Total liabilities and net assets/fund balances | $1,561,067 |
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