Noroton Yacht Club Inc
- Assets
- $8.7m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 58
- Location
- Noroton, CT
- Founding
- 05/1935
- Data as of
- 10/2021
- EIN
- 06-0619176
Organization Overview
Noroton Yacht Club Inc is located in Noroton, CT. The organization was established in 1935. 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 10/2021, Noroton Yacht Club Inc employed 58 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Noroton 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 10/2021, Noroton Yacht Club Inc generated $2.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $2.3m during the year ending 10/2021. While expenses have increased by 11.5% 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
SAILING AND OTHER FAMILY RECREATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PROMOTION OF SAILING AND FAMILY RECREATIONAL ACTIVITIES, INCLUDING JUNIOR SAILING PROGRAM, MARINE SAFETY TRAINING, AND SPORTS ADVANCEMENT FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Campbell Secretary | OfficerTrustee | 1 | $0 |
Scott Harrison Rear Commodo | OfficerTrustee | 1 | $0 |
Robert Lawrence III Commodore | OfficerTrustee | 1 | $0 |
Katherine Mitchell Vice Commodo | OfficerTrustee | 1 | $0 |
Donald Vasta Treasurer | OfficerTrustee | 1 | $0 |
Rob Campbell Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,875,813 |
| 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 | $1,875,813 |
| Total Program Service Revenue | $385,935 |
| Investment income | $8 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$10,063 |
| 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 | -$3,575 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,248,118 |
| 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 | $629,809 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,712 |
| Payroll taxes | $60,032 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,010 |
| Fees for services: Accounting | $19,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $37,787 |
| Advertising and promotion | $0 |
| Office expenses | $12,935 |
| Information technology | $13,872 |
| Royalties | $0 |
| Occupancy | $75,447 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $172,852 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $278,178 |
| Insurance | $148,426 |
| All other expenses | $432,691 |
| Total functional expenses | $2,287,486 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $759,038 |
| Savings and temporary cash investments | $123,285 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $205,591 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $45,492 |
| Net Land, buildings, and equipment | $7,573,300 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,706,706 |
| Accounts payable and accrued expenses | $1,769 |
| 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 | $5,065,437 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $98,454 |
| Total liabilities | $5,165,660 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $147,439 |
| Paid-in or capital surplus, or land, building, or equipment fund | $231,659 |
| Retained earnings, endowment, accumulated income, or other funds | $3,161,948 |
| Total liabilities and net assets/fund balances | $8,706,706 |
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|---|---|---|
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Noyac Golf Club Inc Sag Harbor, NY | $25,263,669 | $11,022,614 |
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Huntington Crescent Club Inc Huntington, NY | $18,101,805 | $9,571,803 |
Mill River Club Inc Oyster Bay, NY | $11,730,867 | $8,340,769 |
Oakley Country Club Watertown, MA | $19,643,392 | $9,027,669 |