Erie Yacht Club
- Assets
- $14.2m
- Revenue
- $3.6m
- Investments
- $0.0
- Employees
- 170
- Location
- Erie, PA
- Founding
- 09/1972
- Data as of
- 10/2023
- EIN
- 25-0466730
Organization Overview
Erie Yacht Club is located in Erie, PA. The organization was established in 1972. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 10/2023, Erie Yacht Club employed 170 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Erie 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 10/2023, Erie Yacht Club generated $3.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $3.1m during the year ending 10/2023. While expenses have increased by 0.8% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF YACHTING AND BOATING FACILITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
BOATING: THE CLUB MAINTAINS ITS YACHTING AND BOATING FACILITIES IN ORDER TO ENCOURAGE AND DEVELOP YACHTING AND BOATING ACTIVITIES AMONG ITS MEMBERSHIP.
RESTAURANT AND BAR: THE CLUB MAINTAINS A RESTAURANT AND BAR TO PROMOTE SOCIAL AND RECREATIONAL ACTIVITIES FOR ITS MEMBERS IN CONNECTION WITH THE BOATING ACTIVITIES OUTLINED IN "LINE 4A" ABOVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Sanner Past Commodore | Trustee | 5 | $0 |
Michael Squeglia Vice Commodore | OfficerTrustee | 5 | $0 |
Harvey Downey Commodore | OfficerTrustee | 5 | $0 |
Russ Thompson Rear Commodore | OfficerTrustee | 5 | $0 |
Matt Wolford Fleet Captain | OfficerTrustee | 5 | $0 |
Timothy Weibel Director | Trustee | 5 | $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 | $2,892,050 |
| Investment income | $0 |
| 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 | $696,856 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,588,906 |
| 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. | $113,800 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,028,245 |
| Pension plan accruals and contributions | $9,739 |
| Other employee benefits | $103,334 |
| Payroll taxes | $128,655 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,696 |
| Fees for services: Accounting | $9,950 |
| 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 | $30,336 |
| Information technology | $43,194 |
| Royalties | $0 |
| Occupancy | $224,093 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $58,639 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $458,299 |
| Insurance | $98,612 |
| All other expenses | $61,714 |
| Total functional expenses | $3,103,072 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $143,591 |
| Savings and temporary cash investments | $802,265 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $218,323 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $98,907 |
| Prepaid expenses and deferred charges | $41,113 |
| Net Land, buildings, and equipment | $12,924,113 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,228,312 |
| Accounts payable and accrued expenses | $92,863 |
| Grants payable | $0 |
| Deferred revenue | $158,089 |
| 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 | $4,178,568 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $4,429,520 |
| Net assets without donor restrictions | $9,798,792 |
| 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 | $14,228,312 |