Larchmont Yacht Club
- Assets
- $29.7m
- Revenue
- $12.6m
- Investments
- $0.0
- Employees
- 331
- Location
- Larchmont, NY
- Founding
- 12/1934
- Data as of
- 09/2021
- EIN
- 13-1716713
Organization Overview
Larchmont Yacht Club is located in Larchmont, NY. The organization was established in 1934. 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 09/2021, Larchmont Yacht Club employed 331 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Larchmont 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 09/2021, Larchmont Yacht Club generated $12.6m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $11.4m during the year ending 09/2021. While expenses have increased by 2.9% 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
TO INSTILL AND ENHANCE AN INTEREST IN YACHTING AND PROVIDE AN ACTIVE ENJOYABLE SOCIAL ENVIRONMENT FOR ITS MEMBERS AND THEIR FAMILIES.
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 |
|---|---|---|---|
Harper Sibley General Manager | Officer | 40 | $254,260 |
Kerry Risley-Fredericks Controller | 40 | $166,685 | |
Rodrigo Paulino Waterfront Director | 40 | $156,810 | |
Adam Lakis Executive Chef | 40 | $113,617 | |
Steven J Leicht Vice Commodore | OfficerTrustee | 3 | $0 |
J Christopher Schoen Rear Commodore | OfficerTrustee | 3 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Paul Mcnulty Tennis Pro | 9/29/17 | $261,661 |
Ilidio Bastos Mason Contractor | 9/29/17 | $114,690 |
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 | $8,294,647 |
| Investment income | $5,335 |
| 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 | $3,415,971 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,591,177 |
| 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. | $310,649 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,572,876 |
| Pension plan accruals and contributions | $106,881 |
| Other employee benefits | $765,439 |
| Payroll taxes | $507,873 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,903 |
| Fees for services: Accounting | $33,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $639,388 |
| Advertising and promotion | $0 |
| Office expenses | $105,957 |
| Information technology | $23,720 |
| Royalties | $0 |
| Occupancy | $707,743 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $353,533 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,419,156 |
| Insurance | $501,388 |
| All other expenses | $0 |
| Total functional expenses | $11,393,321 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $180,861 |
| Savings and temporary cash investments | $5,785,734 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,194,398 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $163,398 |
| Prepaid expenses and deferred charges | $182,335 |
| Net Land, buildings, and equipment | $21,223,488 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,730,214 |
| Accounts payable and accrued expenses | $927,275 |
| 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 | $8,444,422 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $4,446,482 |
| Total liabilities | $13,818,179 |
| Net assets without donor restrictions | $15,912,035 |
| 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 | $29,730,214 |
Endowment Analysis
| Beg. Balance | $1,953,174 |
| Net Contributions | $2,855,517 |
| Other Expense | $2,369,436 |
| Ending Balance | $2,439,255 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Union League Of Philadelphia Philadelphia, PA | $166,421,963 | $49,124,019 |
New York Athletic Club New York, NY | $79,824,386 | $36,957,466 |
University Club New York, NY | $61,571,312 | $30,883,399 |
Baltusrol Golf Club Springfield, NJ | $73,541,672 | $26,510,520 |
Country Club Chestnut Hill, MA | $75,043,157 | $30,549,304 |
Winged Foot Golf Club Inc Mamaroneck, NY | $47,661,307 | $23,506,154 |
New York Yacht Club New York, NY | $54,553,348 | $22,663,268 |
Canoe Brook Country Club Summit, NJ | $49,012,793 | $22,669,304 |
Glen Oaks Club Inc Old Westbury, NY | $13,779,705 | $20,068,781 |
Saucon Valley Country Club Bethlehem, PA | $67,852,931 | $24,203,066 |
Sleepy Hollow Country Club Westchester Scarborough, NY | $36,824,085 | $23,136,850 |
Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |