Long Branch Ice Boat And Yacht Club
- Assets
- $1.4m
- Revenue
- $145.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Long Branch, NJ
- Founding
- 07/1987
- Data as of
- 12/2023
- EIN
- 22-2609516
Organization Overview
Long Branch Ice Boat And Yacht Club is located in Long Branch, NJ. The organization was established in 1987. 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. Long Branch Ice Boat And 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 12/2023, Long Branch Ice Boat And Yacht Club generated $145.3k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $172.0k during the year ending 12/2023. While expenses have increased by 7.4% per year over the past 5 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
THE PURPOSE OF THE ORGANIZATION IS TO PROVIDE PRIVATE FACILITIES TO ITS MEMBERS WHERE THEY CAN MEET WITH OTHERS HAVING SIMILAR INTERESTS AND TO PROVIDE FACILITIES NECESSARY TO ENGAGE IN THESE INTERESTS. SIGNIFICANT ACTIVITIES INCLUDE SAILING, YACHT BUILDING, SOCIAL EVENTS, AND FISHING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ACTIVITIES OF THE CLUB ARE BASICALLY SOCIAL AND BOATING. 1. SOCIAL ACTIVITIES - THESE AFFAIRS ARE GENERALLY PREPARED BY THE MEMBERS WITH ATTENDANCE LIMITED TO MEMBERS AND THEIR GUESTS. THE PUBLIC IS NOT INVITED OR PERMITTED TO ATTEND.
2. ICE BOATING - THE CLUB SPONSORS ICE BOAT RACES AND PARTICIPATES IN ORGANIZED CLUB RACES. THE CLUB ALSO ENGAGES IN AND FOSTERS YACHTING AND YACHTING PURSUITS, YACHT BUILDING, AND THE IMPROVEMENT OF ICE YACHT DESIGNS.
3. SUMMER BOATING - FACILITIES ARE PROVIDED AT THE CLUB FOR BOTH IN AND OUT OF THE WATER STORAGE ONLY CLUB MEMBERS AND MEMBERS FROM OTHER YACHT CLUBS MAY USE THESE FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carmine Tarantino Trustee | Trustee | 1 | $0 |
Bill Rudolph Trustee | Trustee | 1 | $0 |
Thomas Accera Trustee | Trustee | 1 | $0 |
Charles Theodora Trustee | Trustee | 1 | $0 |
Richard Joyce Trustee | Trustee | 1 | $0 |
Paul Tamburella Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $24,646 |
| 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 | $24,646 |
| Total Program Service Revenue | $114,995 |
| Investment income | $5,609 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $145,250 |
| 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 | $0 |
| 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 | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $13,466 |
| All other expenses | $0 |
| Total functional expenses | $171,968 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,646 |
| Savings and temporary cash investments | $190,850 |
| 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 | $1,139,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,358,396 |
| Accounts payable and accrued expenses | $367 |
| 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 | $367 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $218,129 |
| Paid-in or capital surplus, or land, building, or equipment fund | $1,139,900 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,358,396 |