Okoboji Yacht Club is located in Milford, IA. The organization was established in 1975. 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. Okoboji 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, Okoboji Yacht Club generated $46.0k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $46.4k during the year ending 12/2023. While expenses have increased by 3.7% 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
OKOBOJI YACHT CLUB, INC ACHIEVES GOALS BY CONDUCTING REGATTAS, CLUB RACES, AND SOCIAL FUNCTIONS. THE ORGANIZATION HAS APPROXIMATELY 500 MEMBERSHIPS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Names Of Directors See Schedule O | 0.1 | $0 | |
Bradley D Farrar Executive Director | 5 | $3,467 |
Statement of Revenue | |
---|---|
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $0 |
Membership dues | $118,350 |
Investment income | $113 |
Gain or Loss | $0 |
Net Income from Gaming & Fundraising | -$73,505 |
Other Revenue | $0 |
Total Revenue | $46,022 |
Statement of Expenses | |
---|---|
Grants and similar amounts paid | $0 |
Benefits paid to or for members | $0 |
Salaries, other compensation, and employee benefits | $3,467 |
Professional fees and other payments to independent contractors | $4,740 |
Occupancy, rent, utilities, and maintenance | $0 |
Printing, publications, postage, and shipping | $0 |
Other expenses | $4,193 |
Total expenses | $46,400 |
Balance Sheet | |
---|---|
Cash, savings, and investments | $2,085 |
Other assets | $0 |
Total assets | $3,446 |
Total liabilities | $1,274 |
Net assets or fund balances | $2,172 |