Milford Yacht Club Inc
- Assets
- $3.5m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 100
- Location
- Milford, CT
- Founding
- 08/1944
- Data as of
- 12/2021
- EIN
- 06-0453450
Organization Overview
Milford Yacht Club Inc is located in Milford, CT. The organization was established in 1944. 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, Milford Yacht Club Inc employed 100 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Milford Yacht Club Inc 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, Milford Yacht Club Inc generated $1.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $852.7k during the year ending 12/2021. 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 PROMOTE INTEREST IN YACHTING AND RELATED SOCIAL ACTIVITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE INTEREST IN YACHTING AND RELATED SOCIAL ACTIVITIES
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Herbert Commodore | Officer | 10 | $0 |
Bruce Kuryla Treasurer | Officer | 10 | $0 |
Kathy Walker Secretary | Officer | 10 | $0 |
Albert Frank Vice-Commodore | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,182,481 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $100,953 |
| 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 | $1,283,434 |
| Total Program Service Revenue | $108,497 |
| Investment income | $1,365 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$37,594 |
| 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 | -$313,628 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,042,074 |
| 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 | $263,764 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $18,072 |
| Payroll taxes | $25,798 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $23,826 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $132,460 |
| Insurance | $0 |
| All other expenses | $388,773 |
| Total functional expenses | $852,693 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,111,259 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,782 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $55,514 |
| Prepaid expenses and deferred charges | $57,160 |
| Net Land, buildings, and equipment | $2,301,694 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,101 |
| Other assets | $0 |
| Total assets | $3,541,510 |
| Accounts payable and accrued expenses | $235,768 |
| 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 | $937,532 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,173,300 |
| Net assets without donor restrictions | $2,368,210 |
| 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 | $3,541,510 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
New York Athletic Club New York, NY | $79,824,386 | $36,957,466 |
University Club New York, NY | $61,571,312 | $30,883,399 |
Country Club Chestnut Hill, MA | $75,043,157 | $30,549,304 |
Winged Foot Golf Club Inc Mamaroneck, NY | $47,661,307 | $23,506,154 |
New York Yacht Club New York, NY | $54,553,348 | $22,663,268 |
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Oak Hill Country Club Rochester, NY | $24,513,885 | $17,798,483 |
Greenwich Country Club Greenwich, CT | $48,407,804 | $23,136,592 |
Harvard Club Of New York City New York, NY | $57,363,784 | $14,784,742 |