Keyport Yacht Club Inc
- Assets
- $2.3m
- Revenue
- $802.6k
- Investments
- $0.0
- Employees
- 23
- Location
- Keyport, NJ
- Founding
- 01/1943
- Data as of
- 12/2023
- EIN
- 21-0490982
Organization Overview
Keyport Yacht Club Inc is located in Keyport, NJ. The organization was established in 1943. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. As of 12/2023, Keyport Yacht Club Inc employed 23 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Keyport Yacht Club 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, Keyport Yacht Club Inc generated $802.6k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.9% each year. All expenses for the organization totaled $719.2k during the year ending 12/2023. While expenses have increased by 6.8% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
YACHT CLUB SERVING 234 MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAUNCH & ANCHORAGE SERVICES-MAINTAIN MOORING RECORDS AND PROVIDE LAUNCH SERVICES TO MEMBERS
SAILBOAT RACING-MANAGE SAILBOAT RACES FOR MEMBERS AND GUESTS AND ENCOURAGE BOATING ACTIVITIES AND EDUCATION
EVENTS-CONDUCT SOCIAL AND EDUCATIONAL ACTIVITIES FOR MEMBERS AND GUESTS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Allen Hudson Trustee | Trustee | 0 | $0 |
Dianne Bonnell Trustee | Trustee | 0 | $0 |
Paul Mckeefry Trustee | Trustee | 0 | $0 |
Suzanne Ryan Trustee | Trustee | 0 | $0 |
John Clough Trustee | Trustee | 0 | $0 |
Bill Murray Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $399,696 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,821 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $417,517 |
| Total Program Service Revenue | $262,722 |
| Investment income | $11,872 |
| 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 | $110,528 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $802,639 |
| 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 | $201,382 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| 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 | $6,136 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $164,833 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $51,180 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $61,645 |
| All other expenses | $18,858 |
| Total functional expenses | $719,195 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,805 |
| Savings and temporary cash investments | $439,347 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $62,683 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $18,075 |
| Prepaid expenses and deferred charges | $38,613 |
| Net Land, buildings, and equipment | $1,669,671 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,268,194 |
| Accounts payable and accrued expenses | $5,245 |
| 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 | $876,348 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,130 |
| Total liabilities | $889,723 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $161,175 |
| Paid-in or capital surplus, or land, building, or equipment fund | $431,938 |
| Retained earnings, endowment, accumulated income, or other funds | $785,358 |
| Total liabilities and net assets/fund balances | $2,268,194 |