Centerport Yacht Club Inc
- Assets
- $4.2m
- Revenue
- $2.5m
- Investments
- $0.0
- Employees
- 115
- Location
- Centerport, NY
- Founding
- 03/1953
- Data as of
- 12/2022
- EIN
- 11-1619853
Organization Overview
Centerport Yacht Club Inc is located in Centerport, NY. The organization was established in 1953. 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 12/2022, Centerport Yacht Club Inc employed 115 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Centerport 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 12/2022, Centerport Yacht Club Inc generated $2.5m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $2.4m during the year ending 12/2022. While expenses have increased by 3.7% per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO ENCOURAGE THE SPORT OF YACHTING, TO PROMOTE SKILLS IN NAVIGATION & BOAT HANDLING. TO PROVIDE FACILITIES FOR BOATING & ENTERTAINMENT FOR THE MEMBERS.
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 |
|---|---|---|---|
Peter Hutchison Commodore | OfficerTrustee | 3 | $0 |
Kevin Keegan Vice Commodore | OfficerTrustee | 3 | $0 |
Rober Walsh Rear Commodore | OfficerTrustee | 3 | $0 |
William Demilt Treasurer | OfficerTrustee | 3 | $0 |
Theresa Murphy Financial Secretary | OfficerTrustee | 3 | $0 |
Dana Schmidt Recording Secretary | OfficerTrustee | 3 | $0 |
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 | $1,439,201 |
| Investment income | $4,718 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,034,318 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,491,781 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,439 |
| 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 | $1,102,350 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $89,357 |
| Payroll taxes | $130,967 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,973 |
| Fees for services: Accounting | $17,175 |
| 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 | $23,254 |
| Information technology | $38,746 |
| Royalties | $0 |
| Occupancy | $120,066 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,077 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $161,788 |
| Insurance | $121,486 |
| All other expenses | $141,812 |
| Total functional expenses | $2,427,109 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,813 |
| Savings and temporary cash investments | $1,139,971 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,159,134 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $59,825 |
| Prepaid expenses and deferred charges | $41,555 |
| Net Land, buildings, and equipment | $1,777,856 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,212,154 |
| Accounts payable and accrued expenses | $163,514 |
| Grants payable | $0 |
| Deferred revenue | $905,388 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,068,902 |
| Net assets without donor restrictions | $3,143,252 |
| 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 | $4,212,154 |