Toledo Sailing Club
- Assets
- $117.3k
- Revenue
- $175.2k
- Investments
- $0.0
- Employees
- 9
- Location
- Toledo, OH
- Founding
- 10/1983
- Data as of
- 10/2022
- EIN
- 34-6540173
Organization Overview
Toledo Sailing Club is located in Toledo, OH. The organization was established in 1983. According to its NTEE Classification (N67) the organization is classified as: Swimming & Other Water Recreation, under the broad grouping of Recreation & Sports and related organizations. As of 10/2022, Toledo Sailing Club employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Toledo Sailing Club is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2022, Toledo Sailing Club generated $175.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 11.2% each year . All expenses for the organization totaled $145.8k during the year ending 10/2022. While expenses have increased by 11.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
WE ARE A BOATING CLUB THAT PROMOTES FELLOWSHIP AMONGST OUR MEMBERS. WE ALSO PROVIDE DOCKS TO OUR MEMBERS FOR A FEE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROMOTING FELLOWSHIP AMONGST MEMBERS
PROVIDING DOCKS FOR THE CONVENIENCE OF MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Hoff Treasurer | Officer | 15 | $1,440 |
Michele Van Dromme Secretary | Officer | 10 | $1,200 |
April Flynn Rear Commodo | Officer | 5 | $0 |
Pete Maxwell Commodore | Officer | 5 | $0 |
Dan Petro Vice Commodo | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $56,089 |
| 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 | $56,089 |
| Total Program Service Revenue | $41,611 |
| Investment income | $43 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $10,565 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $53,779 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $175,208 |
| 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. | $2,640 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,660 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,641 |
| 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 | $9,330 |
| Advertising and promotion | $257 |
| Office expenses | $2,039 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $24,779 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,011 |
| Interest | $6,371 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,852 |
| All other expenses | $0 |
| Total functional expenses | $145,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $91,610 |
| Savings and temporary cash investments | $23,188 |
| 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 | $2,529 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $117,327 |
| Accounts payable and accrued expenses | $829 |
| 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 | $102,539 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $103,368 |
| Net assets without donor restrictions | $0 |
| 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 | $13,959 |
| Total liabilities and net assets/fund balances | $117,327 |
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