Babylon Yacht Club
- Assets
- $522.1k
- Revenue
- $469.7k
- Investments
- $0.0
- Employees
- 52
- Location
- Babylon, NY
- Founding
- 08/1982
- Data as of
- 12/2021
- EIN
- 11-0503131
Organization Overview
Babylon Yacht Club is located in Babylon, NY. The organization was established in 1982. 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, Babylon Yacht Club employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Babylon 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, Babylon Yacht Club generated $469.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $515.1k during the year ending 12/2021. While expenses have increased by 1.2% 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
PROVIDE SWIMMING, SAILING, SOCIAL AND RECREATIONAL ACTIVITIES FOR MEMBERS FROM LATE MAY THROUGH OCTOBER
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE CLUBHOUSE, SWIMMING POOL, AND SOCIAL ACTIVITIES AT A WATERFRONT FACILITY FROM MEMORIAL DAY WEEKEND THROUGH OCTOBER.
PROVIDE SWIMMING INSTRUCTION, COMPETITION AND POOL ACTIVITIES TO MEMBERS AND THEIR FAMILIES.
PROVIDE SAILING INSTRUCTION TO NOVICE SAILORS PROVIDE INTRAMURAL RACES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Barrett Club Manager | 40 | $27,184 | |
Dennis Barrett Assistant Club Manager | 40 | $15,121 | |
Christopher Palazzo Steward | 40 | $5,614 | |
Brooke Thuma Swim Instructor/lifeguard | 40 | $4,061 | |
Taylor Carangi Swim Instructor/lifeguard | 40 | $4,047 | |
Phillip Berdolt Rear Commodore | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $418,610 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $200 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $418,810 |
| Total Program Service Revenue | $20,200 |
| Investment income | $118 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $27,690 |
| 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 | $469,650 |
| 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 | $127,832 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $2,933 |
| Payroll taxes | $12,299 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $100 |
| 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 | $3,057 |
| Information technology | $7,383 |
| Royalties | $0 |
| Occupancy | $74,998 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $6,439 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $61,642 |
| Insurance | $69,835 |
| All other expenses | $5,655 |
| Total functional expenses | $515,078 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $185,284 |
| Savings and temporary cash investments | $106,785 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $230,026 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $522,095 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $240,781 |
| Other liabilities | $0 |
| Total liabilities | $240,781 |
| 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 | $281,314 |
| Total liabilities and net assets/fund balances | $522,095 |
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