Chicago Yacht Club
- Assets
- $8.0m
- Revenue
- $5.6m
- Investments
- $0.0
- Employees
- 213
- Location
- Chicago, IL
- Founding
- 08/1942
- Data as of
- 12/2021
- EIN
- 36-0911690
Organization Overview
Chicago Yacht Club is located in Chicago, IL. The organization was established in 1942. 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, Chicago Yacht Club employed 213 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chicago 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 12/2021, Chicago Yacht Club generated $5.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (3.3%) each year. All expenses for the organization totaled $5.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 7 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
TO ENCOURAGE AND PROMOTE YACHTING IN CHICAGO, IL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB PROVIDES FOOD, BEVERAGE AND DOCKING FACILITIES FOR MEMBERS AND THEIR GUESTS. THE CLUB ALSO CONDUCTS A SAILING SCHOOL TO PROMOTE THE SAFETY AND ENJOYMENT OF SAILING. IN ADDITION, THE CLUB HOSTS AND CONDUCTS YACHTING REGATTAS FOR THE RECREATION AND PLEASURE OF MEMBERS, GUESTS, AND OTHER COMPETITORS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Dieball On The Water Director | Officer | 50 | $154,461 |
Jim Williamson General Manager | Officer | 50 | $152,115 |
Elizabeth Haley Membership Director | 50 | $124,763 | |
Lawrence Asher Executive Chef | 50 | $123,318 | |
Sara Proctor Communications Director | 50 | $113,582 | |
Nick Berberian Commodore | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $742,375 |
| All other contributions, gifts, grants, and similar amounts not included above | $33,352 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $775,727 |
| Total Program Service Revenue | $4,881,799 |
| Investment income | $298 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $31,563 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$739,699 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,569,403 |
| 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. | $668,239 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,311,184 |
| Pension plan accruals and contributions | $46,095 |
| Other employee benefits | $355,931 |
| Payroll taxes | $186,421 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,020 |
| 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 | $15,949 |
| Advertising and promotion | $0 |
| Office expenses | $368,585 |
| Information technology | $62,759 |
| Royalties | $0 |
| Occupancy | $207,235 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,317 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $631,962 |
| Insurance | $171,143 |
| All other expenses | $584,864 |
| Total functional expenses | $5,245,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,272,655 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $463,901 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $134,705 |
| Inventories for sale or use | $139,182 |
| Prepaid expenses and deferred charges | $71,873 |
| Net Land, buildings, and equipment | $3,903,088 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,837 |
| Total assets | $8,000,241 |
| Accounts payable and accrued expenses | $841,222 |
| Grants payable | $0 |
| Deferred revenue | $27,640 |
| 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 | $150,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,018,862 |
| Net assets without donor restrictions | $6,607,754 |
| Net assets with donor restrictions | $373,625 |
| 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 | $8,000,241 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chicago Yacht Club has recieved totaling $15,000.
| Awarding Organization | Amount |
|---|---|
Chicago Yacht Club Foundation Inc Chicago, IL PURPOSE: SAILING EVENT | $15,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pi Beta Phi Fraternity Housing Corporation Town Country, MO | $77,087,429 | $19,221,332 |
Olympia Fields Country Club Olympia Fields, IL | $30,077,528 | $14,988,630 |
Academy Of Model Aeronautics Ama Muncie, IN | $14,826,959 | $9,207,922 |
Twin Orchard Country Club Long Grove, IL | $7,888,847 | $8,779,508 |
Briarwood Country Club Deerfield, IL | $16,862,462 | $7,936,936 |
Idle Hour Country Club Inc Lexington, KY | $13,827,877 | $6,560,806 |
Wisconsin Club Inc Milwaukee, WI | $13,631,132 | $7,676,658 |
Milwaukee Country Club River Hills, WI | $13,393,861 | $8,032,632 |
Chicago Club Chicago, IL | $23,297,083 | $6,965,290 |
Westborough Country Club St Louis, MO | $12,574,803 | $8,255,604 |
North Shore Country Club Mequon, WI | $12,385,301 | $7,356,496 |
River Forest Country Club Elmhurst, IL | $11,952,693 | $7,876,925 |