Manasquan River Yacht Club
- Assets
- $4.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 60
- Location
- Brielle, NJ
- Founding
- 06/1970
- Data as of
- 12/2022
- EIN
- 21-0686932
Organization Overview
Manasquan River Yacht Club is located in Brielle, NJ. The organization was established in 1970. 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 12/2022, Manasquan River Yacht Club employed 60 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Manasquan River 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 12/2022, Manasquan River Yacht Club generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $1.0m during the year ending 12/2022. While expenses have increased by 5.8% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
ALL ACTIVITIES OF THIS CLUB SHALL BE TO PROMOTE YACHTING REGATTA EVENTS AND OTHER SPORTS ACTIVITIES SUCH AS: POOL AND TENNIS ACTIVITIES AND TO PROVIDE SOCIAL ACTIVITIES FOR ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERS' ENTERTAINMENT AND TROPHIES
DOCK, HARBOR AND REGATTA ACTIVITIES
TENNIS ACTIVITIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christine Laufer Trustee | Trustee | 0 | $0 |
Hilary Decker Seitz Trustee | Trustee | 0 | $0 |
Liz Chermark Trustee | Trustee | 0 | $0 |
Gina Parseghian Trustee | Trustee | 0 | $0 |
William Morris Trustee | Trustee | 0 | $0 |
Denise Mcdonald Trustee | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $589,809 |
| 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 | $589,809 |
| Total Program Service Revenue | $515,655 |
| Investment income | $254 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$6,378 |
| 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 | $1,105,915 |
| 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 | $317,178 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $27,493 |
| 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 | $3,461 |
| 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 | $51,764 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,561 |
| Insurance | $82,367 |
| All other expenses | $163,682 |
| Total functional expenses | $1,048,059 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $405,694 |
| Savings and temporary cash investments | $251,186 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $121,359 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,843 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,165,375 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $13,028 |
| Other assets | $0 |
| Total assets | $3,969,485 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $404,415 |
| 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 | $1,863,819 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $72,436 |
| Total liabilities | $2,340,670 |
| Net assets without donor restrictions | $1,628,815 |
| 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 | $3,969,485 |