Chicago Yacht Club
- Assets
- $9.8m
- Revenue
- $6.2m
- Investments
- $0.0
- Employees
- 203
- Location
- Chicago, IL
- Founding
- 08/1942
- Data as of
- 12/2022
- 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 12/2022, Chicago Yacht Club employed 203 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 12/2022, Chicago Yacht Club generated $6.2m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $5.9m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.9%) per year over the past 8 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
2022
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Curcio Commodore | OfficerTrustee | 10 | $0 |
Charles Anderson Vice Commodore | OfficerTrustee | 10 | $0 |
Laura Sigmond Rear Commodore | OfficerTrustee | 10 | $0 |
Robert O'brien Treasurer | OfficerTrustee | 10 | $0 |
Nancy Snyder Secretary | OfficerTrustee | 10 | $0 |
Nick Berberian Past Commodore | Trustee | 10 | $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 | $759,388 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $759,388 |
| Total Program Service Revenue | $5,613,435 |
| Investment income | $1,258 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $13,278 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$700,478 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,206,848 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $160,725 |
| 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. | $194,655 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,984,522 |
| Pension plan accruals and contributions | $45,108 |
| Other employee benefits | $361,914 |
| Payroll taxes | $209,531 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,401 |
| 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 | $27,776 |
| Advertising and promotion | $0 |
| Office expenses | $322,203 |
| Information technology | $65,251 |
| Royalties | $0 |
| Occupancy | $231,915 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $5,775 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $645,388 |
| Insurance | $189,161 |
| All other expenses | $781,792 |
| Total functional expenses | $5,883,439 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,384,229 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $789,008 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $189,641 |
| Inventories for sale or use | $136,072 |
| Prepaid expenses and deferred charges | $123,491 |
| Net Land, buildings, and equipment | $6,007,784 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,142,964 |
| Total assets | $9,773,189 |
| Accounts payable and accrued expenses | $1,070,493 |
| Grants payable | $0 |
| Deferred revenue | $17,040 |
| 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 | $1,380,868 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,468,401 |
| Net assets without donor restrictions | $6,334,625 |
| Net assets with donor restrictions | $970,163 |
| 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 | $9,773,189 |
Grants Awarded
Over the last fiscal year, Chicago Yacht Club has awarded $160,275 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
SOS CHILDREN'S VILLAGES ILLINOIS PURPOSE: TO PROVIDE MONETARY SUPPORT TO ORGANIZATION | $45,419 |
CHICAGO YACHT CLUB REGATTA ASSOCIATIONINC PURPOSE: TO PROVIDE MONETARY SUPPORT TO ORGANIZATION | $39,210 |
CHICAGO YACHT CLUB FOUNDATION PURPOSE: TO PROVIDE MONETARY SUPPORT TO ORGANIZATION | $41,738 |
THE UNIVERSITY OF CHICAGO MEDICINE COMER CHILDREN'S HOSPITAL PURPOSE: TO PROVIDE MONETARY SUPPORT TO ORGANIZATION | $33,908 |