Barnegat Light Yacht Club Of Harvey Cedars New Jersey
- Assets
- $285.0k
- Revenue
- $222.2k
- Investments
- $0.0
- Employees
- 11
- Location
- Harvey Cedars, NJ
- Founding
- 11/1996
- Data as of
- 11/2022
- EIN
- 22-2291172
Organization Overview
Barnegat Light Yacht Club Of Harvey Cedars New Jersey is located in Harvey Cedars, NJ. The organization was established in 1996. 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 11/2022, Barnegat Light Yacht Club Of Harvey Cedars New Jersey employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Barnegat Light Yacht Club Of Harvey Cedars New Jersey 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, Barnegat Light Yacht Club Of Harvey Cedars New Jersey generated $222.2k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.3%) each year. All expenses for the organization totaled $265.0k 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
TO ENCOURAGE AND EDUCATE PERSONS IN YACHTING AND BOATING OF ALL KINDS AND ANY RECREATIONAL OR SOCIAL ACTIVITIES INCIDENTAL THERETO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
YOUTH SWIMMING AND SAILING PROGRAM - BLYC ENROLLED STUDENTS IN THE SUMMER FROM THROUGHOUT OUR COMMUNITY TO PARTICIPATE IN ITS YOUTH INSTRUCTIONAL PROGRAM. ACTIVITIES INCLUDE DAILY INSTRUCTION IN BOTH SAILING AND SWIMMING (VARIOUS LEVELS), AND BLYC COMPETITIVE SWIMMING AND SAILING EVENTS INCLUDING THOSE SPONSORED BY LBIYRA, NJYRA AND US SAILING, AND MISCELLANEOUS RECREATIONAL SOCIAL YOUTH EVENTS INCIDENTAL THERETO. ALL PARTICIPANTS ARE SPECIAL MEMBERS OF BLYC, ALSO DEFINED AS YOUTH MEMBERS AND JUNIOR RECREATIONAL MEMBERS WITHIN OUR MEMBERSHIP COMMITTEE PROCEDURES MANUAL.
ADULT SAILING - BLYC SPONSORS ADULT SAILING FLEETS AND HOSTED REGULAR WEEKLY SUMMER RACES FOR THE FLEETS (APPROXIMATELY 8-10 WEEKENDS THROUGHOUT THE SUMMER MONTHS). ADDITIONALLY, BLYC HOSTED THE CENTRAL ATLANTIC DISTRICTS CHAMPIONSHIP REGATTA. THESE EVENTS WERE ALL ORGANIZED AND LED BY MEMBERSHIP VOLUNTEERS OF BLYC. SPECIFIC VOLUNTEER ACTIVITIES INCLUDED RACE COMMITTEE, CRASH BOATING, REGISTRATION, SCORING, FOOD PREPARATION, AND EVEN PROVIDING WEEKEND HOUSING FOR MAJOR REGATTAS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dory Gasorek Vice Commodore | OfficerTrustee | 2 | $0 |
Bryan Lewis Commodore | OfficerTrustee | 2 | $0 |
Holly Faus Treasurer | OfficerTrustee | 2 | $0 |
Michael Sadowski Rear Commodore | OfficerTrustee | 2 | $0 |
Mike Songer Secretary | OfficerTrustee | 2 | $0 |
Peter Menninger Trustee | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| 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 | $0 |
| Total Program Service Revenue | $221,132 |
| Investment income | $58 |
| 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 | $1,045 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $222,235 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $400 |
| 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 | $28,627 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,689 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,709 |
| 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 | $3,848 |
| Information technology | $19 |
| Royalties | $0 |
| Occupancy | $25,558 |
| 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 | $62,332 |
| Insurance | $42,968 |
| All other expenses | $12,583 |
| Total functional expenses | $265,037 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $195,768 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $89,193 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $284,961 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $284,961 |
| 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 | $284,961 |
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