Westlake Yacht Club
- Assets
- $2.9m
- Revenue
- $450.1k
- Investments
- $0.0
- Employees
- 11
- Location
- Westlake Village, CA
- Founding
- 06/1970
- Data as of
- 09/2021
- EIN
- 23-7062514
Organization Overview
Westlake Yacht Club is located in Westlake Village, CA. 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 09/2021, Westlake Yacht Club employed 11 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Westlake 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 09/2021, Westlake Yacht Club generated $450.1k in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $277.3k during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SAILING AND SOCIAL ACTIVITIES TO ITS MEMBERS AND PROVIDE SAILING EDUCATION AND RACING FOR MEMBERS AND THE GREATER COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE SAILING AND SOCIAL ACTIVITIES TO ITS MEMBERS AND PROVIDE SAILING EDUCATION AND RACING FOR MEMBERS AND THE GREATER COMMUNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Marty Fentress President & CEO | OfficerTrustee | 10 | $0 |
Robert Menar Vice President | OfficerTrustee | 10 | $0 |
Julie Trussell Vice President | OfficerTrustee | 5 | $0 |
Lynda Brenner Director | OfficerTrustee | 10 | $0 |
Franchis Coutts President | OfficerTrustee | 0 | $0 |
Gerrie Omeara Secretary | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $289,406 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $41,463 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $330,869 |
| Total Program Service Revenue | $237,015 |
| Investment income | $291 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$118,145 |
| 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 | $64 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $450,094 |
| 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 | $30,855 |
| 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 | $3,720 |
| 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 | $5,727 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $83,236 |
| 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 | $34,537 |
| All other expenses | -$73,500 |
| Total functional expenses | $277,325 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,125 |
| Savings and temporary cash investments | $592,488 |
| 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 | $4,869 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $2,217,745 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $25,637 |
| Other assets | $81 |
| Total assets | $2,948,945 |
| Accounts payable and accrued expenses | $10,046 |
| Grants payable | $0 |
| Deferred revenue | $123,103 |
| 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 | $1,046,975 |
| Total liabilities | $1,180,124 |
| Net assets without donor restrictions | $1,768,821 |
| 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 | $2,948,945 |
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