Cruising Club Of America Inc
- Assets
- $2.2m
- Revenue
- $158.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Milton, MA
- Founding
- 09/1972
- Data as of
- 12/2023
- EIN
- 13-6140180
Organization Overview
Cruising Club Of America Inc is located in Milton, MA. The organization was established in 1972. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Cruising Club Of America Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Cruising Club Of America Inc generated $158.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (17.1%) each year. All expenses for the organization totaled $55.1k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (25.6%) per year over the past 9 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTION OF BLUE WATER CRUISING AND DEVELOPMENT OF THE CRUISING YACHT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CRUISING ACTIVITIES
OTHER REVENUE RELATED TO THE ORGANIZATIONS PROGRAM SERVICES.
SAFETY AT SEA SEMINARS
PUBLICATIONS OF INTEREST TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher L Otorowski Commodore | OfficerTrustee | 15 | $0 |
John R Gowell Vice Commodore | OfficerTrustee | 5 | $0 |
Molly Barnes Secretary | OfficerTrustee | 2 | $0 |
Kathleen M O'donnell Treasurer | OfficerTrustee | 20 | $0 |
Douglas D Adkins Historian | OfficerTrustee | 2 | $0 |
Carter Sbacon Jr Governor | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $108,235 |
| 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 | $108,235 |
| Total Program Service Revenue | $12,550 |
| Investment income | $10,211 |
| 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 | $158,567 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $562 |
| Fees for services: Accounting | $1,348 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $20,425 |
| Total functional expenses | $55,096 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $327,460 |
| Savings and temporary cash investments | $54,527 |
| 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 | $115,409 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,693,603 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $25,660 |
| Other assets | $0 |
| Total assets | $2,216,659 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $75,900 |
| 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 | $75,900 |
| 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 | $2,140,759 |
| Total liabilities and net assets/fund balances | $2,216,659 |
Grants Awarded
Over the last fiscal year, Cruising Club Of America Inc has awarded $90,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OFFSHORE RACING ASSOCIATION PURPOSE: THE CRUISING CLUB OF AMERICA CONTRACTS WITH THE OFFSHORE RACING ASSOCIATION TO MAINTAIN THE HANDICAPPING RULE USED IN SCORING THE NEWPORT BERMUDA RACE. FUNDING IS REQUIRED TO MAINTAIN THE PRE-EMINENT QUALITY OF THE RULE. | $80,000 |
UNITED STATES SAILING ASSOCATION PURPOSE: U S SAILING IS THE NATIONAL AUTHORITY FOR COMPETITIVE SAILBOAT RACING IN THE UNITED STATES, WHICH SANCTIONS THE NEWPORT BERMUDA RACE AND THE CRUSING CLUB OF AMERICA'S SAFETY AT SEA INSTRUCTIONAL PROGRAMS. | $10,000 |