South Norwalk Boat Club
- Assets
- $5.5m
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Norwalk, CT
- Founding
- 09/1943
- Data as of
- 11/2021
- EIN
- 06-0542400
Organization Overview
South Norwalk Boat Club is located in Norwalk, CT. The organization was established in 1943. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Norwalk Boat Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 11/2021, South Norwalk Boat Club generated $1.0m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.0% each year. All expenses for the organization totaled $1.1m during the year ending 11/2021. While expenses have increased by 9.2% per year over the past 6 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
PROVIDE SUITABLE CLUBHOUSE, GROUNDS AND ANCHORAGE FOR THE CONVENIENCE OF ITS MEMBERS; TO ENCOURAGE AND PARTICIPATE IN ALL SPORTS AND RECREATION, PARTICULARLY BOATING; TO ENCOURAGE GOOD FRIENDSHIP AMONG ITS MEMBERS BY PROMOTING AND SPONSORING ALL SOCIAL ACTIVITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SUITABLE CLUBHOUSE, GROUNDS AND ANCHORAGE FOR THE CONVENIENCE OF ITS MEMBERS; TO ENCOURAGE AND PARTICIPATE IN ALL SPORTS AND RECREATION, PARTICULARLY BOATING; TO ENCOURAGE GOOD FRIENDSHIP AMONG ITS MEMBERS BY PROMOTING AND SPONSORING ALL SOCIAL ACTIVITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Morrisette Vice Commodore | Officer | 0 | $0 |
Michael Foley Commodore | Officer | 0 | $0 |
Clyde Mount Rear Commodore | Officer | 0 | $0 |
John Vuoso Financial Secretary | Officer | 0 | $0 |
Scott Sear Rec. Secretary | Officer | 0 | $0 |
Andrew Bonomo Treasurer | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $415,237 |
| 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 | $415,237 |
| Total Program Service Revenue | $297,116 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $36,996 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$4 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $275,065 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,024,410 |
| 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 | $393,726 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,315 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,654 |
| 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 | $6,454 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $176,788 |
| Insurance | $33,525 |
| All other expenses | $178,348 |
| Total functional expenses | $1,120,541 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $516,607 |
| Savings and temporary cash investments | $222,067 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $140,388 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $14,615 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,630,637 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,096 |
| Total assets | $5,534,410 |
| Accounts payable and accrued expenses | $62,093 |
| 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 | $532,780 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $22,075 |
| Total liabilities | $616,948 |
| 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 | $4,917,462 |
| Total liabilities and net assets/fund balances | $5,534,410 |
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