Stamford Yacht Club
- Assets
- $9.9m
- Revenue
- $7.5m
- Investments
- $0.0
- Employees
- 213
- Location
- Stamford, CT
- Founding
- 03/1915
- Data as of
- 12/2023
- EIN
- 06-0547390
Organization Overview
Stamford Yacht Club is located in Stamford, CT. The organization was established in 1915. 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 12/2023, Stamford Yacht Club employed 213 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stamford 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 12/2023, Stamford Yacht Club generated $7.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $6.9m during the year ending 12/2023. While expenses have increased by 2.0% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE SOCIAL RECREATION IN YACHTING AND TO MAINTAIN A CLUBHOUSE, WHICH PROVIDES DINING AND SOCIAL ACTIVITIES FOR THE MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TAX EXEMPT CLUB ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard West Commodore | OfficerTrustee | 4 | $0 |
Claudia Recker Vice Commodore | OfficerTrustee | 4 | $0 |
John Greifzu Rear Commodore | OfficerTrustee | 4 | $0 |
Ove Hoxthausen Board/fleet Captain | OfficerTrustee | 4 | $0 |
John Hillhouse Staff Commodore | OfficerTrustee | 4 | $0 |
James Calver Treasurer | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Concavage Marine Construction Construction | 12/30/22 | $480,828 |
Regan Racquets Tennis Pro | 12/30/22 | $371,580 |
Nardi Masonry Construction Paving Llc Construction | 12/30/22 | $124,239 |
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 | $4,666,066 |
| Investment income | $32,730 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $67,900 |
| 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 | $2,765,951 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,532,647 |
| 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. | $452,059 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,022,857 |
| Pension plan accruals and contributions | $19,909 |
| Other employee benefits | $292,135 |
| Payroll taxes | $286,954 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,202 |
| Fees for services: Accounting | $29,363 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $30,058 |
| Advertising and promotion | $0 |
| Office expenses | $213,661 |
| Information technology | $61,953 |
| Royalties | $0 |
| Occupancy | $420,179 |
| Travel | $3,802 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $21,327 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $719,678 |
| Insurance | $236,221 |
| All other expenses | $0 |
| Total functional expenses | $6,944,557 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,108,337 |
| Savings and temporary cash investments | $2,044,027 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $337,591 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $107,730 |
| Prepaid expenses and deferred charges | $242,005 |
| Net Land, buildings, and equipment | $6,074,988 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,914,678 |
| Accounts payable and accrued expenses | $388,782 |
| Grants payable | $0 |
| Deferred revenue | $880,689 |
| 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 | $3,280,643 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,550,114 |
| Net assets without donor restrictions | $5,364,564 |
| 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 | $9,914,678 |