Long Island Yacht Club Inc is located in Babylon, NY. As of 12/2015, Long Island Yacht Club Inc employed 53 individuals. Long Island Yacht Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2015
Describe the Organization's Mission:
Part 3 - Line 1
SOCIAL CLUB/PROMOTE SAFE BOATING
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTE SAFE BOATING BY REQUIRING ALL VESSELS PASS A SAFETY CHECK FOR COMPLIANCE WITH FEDERAL, STATE, AND LOCAL SAFETY REQUIREMENTS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Steve Vid Commodore | Officer | 10 | $0 |
Brian Richmond Treasurer | Officer | 10 | $0 |
Ken Jacobs Rear Commodore | Officer | 10 | $0 |
Jeannette Marino Secretary | Officer | 10 | $0 |
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 | $782,915 |
Investment income | $24 |
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 | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $782,939 |
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 | $234,036 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $0 |
Payroll taxes | $34,418 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $3,200 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $11,988 |
Office expenses | $4,132 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $63,711 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $36,224 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $33,817 |
Insurance | $77,906 |
All other expenses | $61,880 |
Total functional expenses | $911,526 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $6,689 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $21,819 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $15,639 |
Prepaid expenses and deferred charges | $0 |
Net Land, buildings, and equipment | $1,256,407 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $21,623 |
Other assets | $0 |
Total assets | $1,322,177 |
Accounts payable and accrued expenses | $67,976 |
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 | $792,258 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $1,150 |
Total liabilities | $861,384 |
Unrestricted restricted net Assets | $460,793 |
Temporarily restricted net Assets | $0 |
Permanently restricted net Assets or current funds | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Total net assets or fund balances | $460,793 |