Rochester Yacht Club
- Assets
- $4.9m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 113
- Location
- Rochester, NY
- Founding
- 09/1944
- Data as of
- 11/2022
- EIN
- 16-0613575
Organization Overview
Rochester Yacht Club is located in Rochester, NY. The organization was established in 1944. 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 11/2022, Rochester Yacht Club employed 113 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rochester 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 11/2022, Rochester Yacht Club generated $3.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $2.5m during the year ending 11/2022. 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
THE PURPOSE OF THE CLUB SHALL BE TO PROMOTE INTEREST IN YACHTS AND YACHTING, TO TEACH AND PROMOTE THE PRINCIPLES OF SEAMANSHIP AND NAVIGATION, TO ENCOURAGE THE TRADITION OF YACHTING, TO ENCOURAGE AND TEACH YOUNG PEOPLE IN SEAMANSHIP AND YACHTING, TO PROVIDE AND MAINTAIN A SUITABLE CLUBHOUSE, ANCHORAGE AND FACILITIES FOR THE USE AND RECREATION OF ITS MEMBERS AND TO MAKE ANY AND ALL RULES AND TO DO ANY OTHER ACT OR THING INCIDENTAL TO OR CONNECTED WITH THE FOREGOING PURPOSES OR IN ADVANCEMENT THEREOF.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIS CLUB IS A NON-PROFIT SOCIAL MEMBERSHIP ORGANIZATION FORMED FOR THE PURPOSE OF PROMOTING AND ENCOURAGING YACHTING, WHILE PROVIDING A CLUBHOUSE AND OTHER FACILITIES FOR THE USE OF ITS MEMBERS. THE CLUB'S THREE MOST SIGNIFICANT ACTIVITIES ARE BOAT MOORING, BOAT STORAGE, AND DINING FOR MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Dorsey Past Commodore | OfficerTrustee | 20 | $0 |
Joe Divincenzo Commodore | OfficerTrustee | 20 | $0 |
Hollie Calderon Treasurer - Thru Dec 2021 | OfficerTrustee | 20 | $0 |
Kathy Peach Corresponding Secretary - Thru Dec 2021 | OfficerTrustee | 5 | $0 |
Peter Mendick Vice-Commodore | OfficerTrustee | 20 | $0 |
Kim Ganley Recording Secretary | OfficerTrustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $193,337 |
| 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 | $193,337 |
| Total Program Service Revenue | $2,415,703 |
| Investment income | $7,792 |
| 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 | $679,261 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,296,093 |
| 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 | $1,056,901 |
| Pension plan accruals and contributions | $14,794 |
| Other employee benefits | $69,744 |
| Payroll taxes | $98,690 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,550 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,274 |
| Advertising and promotion | $0 |
| Office expenses | $5,295 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $248,256 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,512 |
| Interest | $12,518 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $285,392 |
| Insurance | $147,731 |
| All other expenses | $138,798 |
| Total functional expenses | $2,472,493 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $407,941 |
| Savings and temporary cash investments | $1,824,608 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $144,317 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $47,158 |
| Prepaid expenses and deferred charges | $79,420 |
| Net Land, buildings, and equipment | $2,201,894 |
| Investments—publicly traded securities | $152,476 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $31,251 |
| Total assets | $4,889,065 |
| Accounts payable and accrued expenses | $108,438 |
| Grants payable | $0 |
| Deferred revenue | $111,666 |
| 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 | $266,017 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $486,121 |
| Net assets without donor restrictions | $4,399,139 |
| Net assets with donor restrictions | $3,805 |
| 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 | $4,889,065 |
Endowment Analysis
| Beg. Balance | $219,999 |
| Earnings | -$19,692 |
| Other Expense | $6,194 |
| Ending Balance | $194,113 |
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|---|---|---|
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Saucon Valley Country Club Bethlehem, PA | $67,852,931 | $24,203,066 |
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Wee Burn Country Club Inc Darien, CT | $32,519,463 | $16,725,850 |
Piping Rock Club Locust Valley, NY | $31,334,038 | $17,059,500 |
Philadelphia Cricket Club Philadelphia, PA | $37,903,760 | $20,280,729 |
Rolling Rock Club Ligonier, PA | $40,965,761 | $18,300,601 |
Oak Hill Country Club Rochester, NY | $24,513,885 | $17,798,483 |
The Ridgewood Country Club Paramus, NJ | $31,275,344 | $17,956,980 |
Montclair Golf Club Montclair, NJ | $32,931,083 | $17,687,834 |
Greenwich Country Club Greenwich, CT | $48,407,804 | $23,136,592 |