Columbia Yacht Club
- Assets
- $5.0m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 82
- Location
- Chicago, IL
- Founding
- 10/1942
- Data as of
- 12/2022
- EIN
- 36-0935520
Organization Overview
Columbia Yacht Club is located in Chicago, IL. The organization was established in 1942. 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 12/2022, Columbia Yacht Club employed 82 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Columbia 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, Columbia Yacht Club generated $3.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $3.2m during the year ending 12/2022. While expenses have increased by 3.1% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE SPORT OF YACHTING; THE SCIENCES OF SEAMANSHIP, NAVIGATION AND YACHT DESIGN; MAINTAIN A SUITABLE CLUB QUARTERS FOR THE ENTERTAINMENT AND CONVENIENCE OF MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP SERVICES: THE OBJECTIVE OF COLUMBIA YACHT CLUB (CYC) IS TO PROVIDE CLUB QUARTERS FOR THE CONVENIENCE, ENTERTAINMENT, AND CONTINUING EDUCATION OF ITS YACHTING ENTHUSIAST MEMBERS. THE CLUB OFFERS DINING FACILITIES, BAR, BANQUET ROOMS, BOAT DOCKAGE, LOCKER ROOMS, AND EQUIPMENT STORAGE FOR ITS MEMBERS. AS OF 12/31/22, CYC HAD 780 TOTAL MEMBERS, A NET DECREASE OF 71 MEMBERS FROM THE PRIOR YEAR. THE MEMBERSHIP RANGES IN AGE FROM JUNIOR SAILORS (UNDER 21 YEARS OF AGE) TO HONORARY LIFE (OVER 65). APPROXIMATELY ONE THIRD OF THE MEMBERSHIP OWNS A BOAT, EITHER SAIL OR POWER, BUT ALL ENJOY ON THE WATER ACTIVITIES OR TAKING PART IN THE MANY SOCIAL ACTIVITIES HELD WITHIN THE CLUB EACH MONTH. COLUMBIA YACHT CLUB IS OPEN FEBRUARY THROUGH DECEMBER, TUESDAYS THROUGH SUNDAYS DURING THE WEEK. THE "IN-SEASON" PERIOD FROM MAY TO OCTOBER IS WHEN THE MAJORITY OF THE MEMBERSHIP IS ACTIVE IN THE CLUB. NOTICE OF UPCOMING EVENTS IS PROVIDED TO THE MEMBERSHIP VIA SIGNAGE AT THE CLUB, EMAIL AND SOCIAL MEDIA.
SAILING AND RACING: SINCE IT WAS FORMED IN 1892, THE HEART OF THE COLUMBIA YACHT CLUB HAS BEEN THE SPORT OF SAILING IN ITS MANY FORMS FROM RACING TO CRUISING. RACING ENTHUSIASTS ENJOY "IN-SEASON" COMPETITION EVERY WEDNESDAY NIGHT AS WELL AS THE SIX WEEKEND REGATTAS THE CLUB SPONSORS. OVER 50 BOATS PARTICIPATE IN THE MAJORITY OF THE EVENTS. CYC PROVIDES THE YACHTING HOME FOR MANY OF THE PREMIER RACERS IN THE MIDWEST. MANY CYC MEMBERS PLACE WELL IN BOTH LOCAL AND NATIONAL EVENTS. RESULTS ARE IMPORTANT, BUT THE TRUE FOCUS OF COLUMBIA IS PROMOTING THE CORINTHIAN SPIRIT, OR COURTEOUS SPORTSMANSHIP, AMONG ALL BOATERS. THE CRUISING FLEET ORGANIZES FOUR TO SIX EVENTS A YEAR BOTH ON THE WATER AND AT THE CLUB WITH AN APPROXIMATE FLEET OF 15-20 MEMBER BOATS AND THEIR GUESTS. MEMBERS WHO DO NOT OWN BOATS ARE WELCOME TO PARTICIPATE AS CREW WITH THE RACERS OR GUESTS OF THE CRUISERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joe Marciniak Commodore | OfficerTrustee | 5 | $0 |
Lisa Desantis Vice Commodore | OfficerTrustee | 3 | $0 |
Jeff Vander Meade Rear Commodore | OfficerTrustee | 3 | $0 |
Jack Jensen Secretary | OfficerTrustee | 3 | $0 |
Gretchen Horn Treasurer | OfficerTrustee | 3 | $0 |
Alan Blum Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $188,551 |
| All other contributions, gifts, grants, and similar amounts not included above | $36,577 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $225,128 |
| Total Program Service Revenue | $2,028,876 |
| Investment income | $3,191 |
| 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 | $1,091,761 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,348,956 |
| 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. | $213,725 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,396,060 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $207,383 |
| Payroll taxes | $181,540 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,845 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $15,923 |
| Office expenses | $48,496 |
| Information technology | $92,034 |
| Royalties | $0 |
| Occupancy | $119,214 |
| Travel | $5,346 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $11,555 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $184,723 |
| Insurance | $144,781 |
| All other expenses | $37,945 |
| Total functional expenses | $3,185,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,618,412 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $521,079 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $206,277 |
| Prepaid expenses and deferred charges | $36,566 |
| Net Land, buildings, and equipment | $2,657,512 |
| Investments—publicly traded securities | $1,835 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $5,041,681 |
| Accounts payable and accrued expenses | $279,834 |
| Grants payable | $0 |
| Deferred revenue | $294,723 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $1,322,055 |
| Other liabilities | $0 |
| Total liabilities | $1,896,612 |
| Net assets without donor restrictions | $3,145,069 |
| 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 | $5,041,681 |