Great Harbor Yacht Club Inc
- Assets
- $67.6m
- Revenue
- $7.8m
- Investments
- $0.0
- Employees
- 163
- Location
- Nantucket, MA
- Founding
- 11/2010
- Data as of
- 12/2021
- EIN
- 27-0057695
Organization Overview
Great Harbor Yacht Club Inc is located in Nantucket, MA. The organization was established in 2010. 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 12/2021, Great Harbor Yacht Club Inc employed 163 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Great Harbor Yacht Club Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Great Harbor Yacht Club Inc generated $7.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $11.5m during the year ending 12/2021. While expenses have increased by 3.1% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO MAINTAIN A CLUBHOUSE AND FACILITIES; TO CULTIVATE A SOCIAL SPIRIT AMONG ITS MEMBERS; TO PROVIDE THEM WITH LAWFUL RECREATION TO DO GENERALLY WHATEVER MAY SERVE FOR THE ADVANCEMENT, BENEFIT, DIVERSION OR PLEASURE OF THE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOOD & BEVERAGE PROGRAM WAS AVAILABLE TO MEMBERS 7 DAYS A WEEK FROM EARLY JUNE THRU SEPTEMBER WITH OTHER SPECIAL EVENTS HELD IN THE SHOULDER SEASON. THIS PROGRAM SERVED OVER 350 MEMBERSHIPS, THEIR FAMILIES AND GUESTS.
THE TENNIS & SWIM PROGRAM IS AVAILABLE TO MEMBERS DURING THE SEASON FROM MID-JUNE THROUGH EARLY SEPTEMBER. OVER 150 MEMBERSHIPS HAD PARTICIPATION IN TENNIS & SWIM ACTIVITIES. THIS PROGRAM ALSO SERVES MEMBERS OF JUST THIS FACILITY, AS WELL AS LOCAL MEMBERSHIPS AND SOME MEMBERS OF THE PUBLIC FOR TENNIS PROGRAMS ONLY.
THE WATERFRONT FACILITY COVERS ALL ASPECTS OF WATERFRONT SPORTS FOR OUR MEMBERS INCLUDING SAILING LESSONS, SAIL BOAT RACES, KAYAK AND PADDLEBOARD RENTALS. WE HAVE DOCK SPACE FOR SEASONAL AND TRANSIENT BOAT SLIPS FOR MEMBERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Creese General Manager | Officer | 50 | $333,862 |
Christian Pavesi Assistant General Manager | Officer | 40 | $257,299 |
John Luyrink Tennis & Swim Director | Officer | 40 | $213,176 |
Kerry Tilton Chief Financial Officer | Officer | 40 | $193,886 |
Nicholas Fix Head Chef | 40 | $184,235 | |
Megan Maltby Membership Director | 40 | $141,081 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Trane Inc Heating/cooling | 12/30/21 | $345,134 |
Amy Manning Landscape Inc Landscaping Services | 12/30/21 | $205,118 |
Us Foodservice Food | 12/30/21 | $132,871 |
Dairy Land Produce Food | 12/30/21 | $158,476 |
Itworks Inc It Services | 12/30/21 | $122,914 |
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 | $6,470,859 |
| Investment income | $27,740 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $557 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,322,325 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $7,821,481 |
| 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. | $1,560,679 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,603,281 |
| Pension plan accruals and contributions | $53,078 |
| Other employee benefits | $467,042 |
| Payroll taxes | $197,030 |
| Fees for services: Management | $25,682 |
| Fees for services: Legal | $11,518 |
| Fees for services: Accounting | $33,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $146,292 |
| Advertising and promotion | $52,373 |
| Office expenses | $358,365 |
| Information technology | $151,976 |
| Royalties | $258 |
| Occupancy | $967,868 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,693 |
| Interest | $203,676 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,922,959 |
| Insurance | $124,266 |
| All other expenses | $188,806 |
| Total functional expenses | $11,506,975 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,409,069 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $112,588 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $474,043 |
| Prepaid expenses and deferred charges | $272,534 |
| Net Land, buildings, and equipment | $61,992,185 |
| Investments—publicly traded securities | $1,380,922 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $67,641,341 |
| Accounts payable and accrued expenses | $337,824 |
| Grants payable | $0 |
| Deferred revenue | $1,661,267 |
| 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 | $8,190,140 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,921,948 |
| Total liabilities | $12,111,179 |
| Net assets without donor restrictions | $55,530,162 |
| 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 | $67,641,341 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Great Harbor Yacht Club Inc has recieved totaling $8,000.
| Awarding Organization | Amount |
|---|---|
Kapani Family Charitable Foundation Naples, FL PURPOSE: GENERAL OPERATING SUPPORT | $6,000 |
Edward H Benenson Foundation Inc New York, NY PURPOSE: RECREATIONAL | $2,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Westchester Country Club Inc Rye, NY | $77,553,664 | $42,480,746 |
Elderhostel Inc Boston, MA | $135,068,845 | $25,807,817 |
Yale Club Of New York City New York, NY | $50,588,779 | $20,944,634 |
Old Westbury Golf & Country Club Inc Old Westbury, NY | $24,637,751 | $16,881,231 |
Innis Arden Golf Club Inc Old Greenwich, CT | $33,992,814 | $14,860,228 |
Hudson National Golf Club Inc Croton On Hudson, NY | $51,687,185 | $12,086,027 |
Nantucket Golf Club Inc Siasconset, MA | $41,080,926 | $8,761,983 |
Great Harbor Yacht Club Inc Nantucket, MA | $67,641,341 | $7,821,481 |
Fisher Island Club Inc Fishers Island, NY | $26,382,427 | $9,842,592 |
Golf Club Of Marthas Vineyard Inc Edgartown, MA | $54,618,022 | $7,664,048 |
Noyac Golf Club Inc Sag Harbor, NY | $25,263,669 | $11,022,614 |
Greenwich Water Club Inc Cos Cob, CT | $34,734 | $8,500,732 |