Cruising Club Of America Inc
- Assets
- $1.4m
- Revenue
- $445.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Portland, ME
- Founding
- 09/1972
- Data as of
- 10/2019
- EIN
- 13-6140180
Organization Overview
Cruising Club Of America Inc is located in Portland, ME. 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 10/2019, Cruising Club Of America Inc generated $445.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (12.2%) each year. All expenses for the organization totaled $517.4k during the year ending 10/2019. As we would expect to see with falling revenues, expenses have declined by (8.2%) per year over the past 5 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
2019
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
PUBLICATIONS OF INTEREST TO MEMBERS
BIANNUAL NEWPORT-BERMUDA RACE (NO INCOME OR EXPENSE IN CUR-RENT YEAR. NEXT BI-ANNUAL RACE SCHEDULED FOR JUNE, 2022.)
SAFETY AT SEA SEMINARS
OTHER EXPENSES RELATING TO MEMBERS' ACTIVITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jw Robert Medland Vice Commodore | OfficerTrustee | 5 | $0 |
W Bradford Willauer Commodore | OfficerTrustee | 15 | $0 |
Peter L Chandler Treasurer | OfficerTrustee | 20 | $0 |
Christopher L Otorowski Secretary | OfficerTrustee | 2 | $0 |
Stafford Keegin Governor | Trustee | 1 | $0 |
Douglas Cole Rear Commodore | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $243,590 |
| Investment income | $38,979 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $7,018 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $71,374 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $445,452 |
| Statement of Expenses | |
|---|---|
| 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 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 | $333 |
| Fees for services: Accounting | $0 |
| 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 | $23,695 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,444 |
| 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 | $0 |
| Total functional expenses | $517,447 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $236,281 |
| Savings and temporary cash investments | $259,745 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,535 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,524 |
| Prepaid expenses and deferred charges | $9,548 |
| Investments—publicly traded securities | $898,257 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,151 |
| Total assets | $1,446,041 |
| Accounts payable and accrued expenses | $55,565 |
| Grants payable | $0 |
| Deferred revenue | $34,005 |
| 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 | $33,583 |
| Total liabilities | $123,153 |
| 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 |
| Total liabilities and net assets/fund balances | $1,322,888 |
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 |
Bristol, RI 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 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Abenaqui Country Club Inc Rye Beach, NH | $11,569,362 | $5,766,433 |
Concord Country Club Inc Concord, NH | $6,058,459 | $2,790,270 |
Prouts Neck Country Club Scarborough, ME | $3,246,004 | $2,096,508 |
Tarratine Club Of Dark Harbor Islesboro, ME | $2,645,678 | $2,091,747 |
Portland Yacht Club Falmouth Foreside, ME | $1,533,737 | $1,302,327 |
Boothbay Harbor Yacht Club Boothbay Harbor, ME | $2,743,334 | $1,117,959 |
Waterville Country Club Incorporated Oakland, ME | $1,463,179 | $1,286,580 |
Cumberland Club Portland, ME | $1,650,916 | $1,185,645 |
Causeway Club Inc Southwest Harbor, ME | $2,689,618 | $1,380,527 |
L S P Association Gilford, NH | $2,550,176 | $844,392 |
Dublin Lake Club Dublin, NH | $2,497,545 | $929,278 |
Harbor Club Inc Mt Desert, ME | $2,270,487 | $842,935 |