Stonington Harbor Yacht Club Inc
- Assets
- $2.0m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 36
- Location
- Stonington, CT
- Founding
- 09/2002
- Data as of
- 12/2023
- EIN
- 37-1431278
Organization Overview
Stonington Harbor Yacht Club Inc is located in Stonington, CT. The organization was established in 2002. 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 12/2023, Stonington Harbor Yacht Club Inc employed 36 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Stonington 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 12/2023, Stonington Harbor Yacht Club Inc generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.7%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
STONINGTON HARBOR YACHT CLUB IS A MEMBER ORGANIZATION PROMOTING EXCELLENCE IN BOATING THROUGHOUT THE COMMUNITY. THE CLUB OPERATES YEAR ROUND OFFERING A BROAD RANGE OF BOATING ACTIVITIES AND EVENTS SUCH AS RACING, CRUISING, FISHING, KAYAKING, EDUCATIONAL PROGRAMS, SOCIAL EVENTS, DOCK FACILITIES AND DINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB OFFERS A RANGE OF ON WATER ACTIVITIES, INCLUDING SAILBOAT RACING, RECREATIONAL SAILING, AN OAR AND PADDLE PROGRAM, EVENTS FOR SMALL POWER BOATS, CRUISES OF VARIOUS LENGTH FOR BOTH SAIL AND POWER BOATS AND INSTRUCTIONAL AND SAFETY PROGRAMS DESIGNED TO SUPPORT ITS ON WATER ACTIVITIES. THESE PROGRAMS SAW SIGNIFICANT PARTICIPATION AND GROWTH. THE CLUB HAS BEEN ABLE TO SUPPORT THE COMMUNITY BY ALLOWING COMMUNITY PARTICIPATION IN MANY OF THESE PROGRAMS, AS WELL AS MAKING ITS IDEAL 18 FLEET AND SUPPORT BOATS AVAILABLE FOR THE CONNECTICUT SPECIAL OLYMPICS PROGRAM TO TRAIN SAILORS AND PROVIDE THE FACILITIES FOR ITS ANNUAL REGATTA. ITS RACE COMMITTEE AND ASSOCIATED BOATS ARE ROUTINELY MADE AVAILABLE TO CONDUCT RACES OPEN TO NON-MEMBERS.
THE CLUB MAKES AVAILABLE FLOATING DOCK SPACE ON STONINGTON HARBOR FOR BOATERS PASSING THROUGH STONINGTON AS WELL AS TO SUPPORT THE CLUB'S OWN FLEET. THE CLUB'S DINING AND OTHER FACILITIES ARE MADE AVAILABLE TO TRANSIENT BOATERS. THE CLUB HAS RECEIVED EXCELLENT REVIEWS FROM INDIVIDUAL TRANSIENTS AS WELL AS VISITING YACHT CLUBS.
THE CLUB OPERATES ITS CLUBHOUSE YEAR ROUND TO PROVIDE MEMBERS AN OPPORTUNITY TO SOCIALIZE. A WIDE VARIETY OF EVENTS ARE HELD AT THE CLUBHOUSE, INCLUDING GENERAL EDUCATIONAL EVENTS AND EVENTS FOCUSED ON DEVELOPING SEAMANSHIP SKILLS TO SUPPORT MORE PROFICIENT, ENJOYABLE, AND SAFER BOATING. ITS EDUCATIONAL PROGRAMS ARE GENERALLY OPEN TO THE PUBLIC AS PART OF THE CLUB'S COMMITMENT TO SERVE THE COMMUNITY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katherine Ballard Governor | Trustee | $0 | |
Jay Benet Governor | Trustee | $0 | |
Ann Baldelli Commodore | OfficerTrustee | $0 | |
Ted Beck Rear Commodo | OfficerTrustee | $0 | |
Jill Corr Governor | Trustee | $0 | |
Chris Gefaell Governor | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $715,017 |
| 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 | $715,017 |
| Total Program Service Revenue | $1,783 |
| Investment income | $3,742 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $58,757 |
| 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 | $302,949 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,082,248 |
| 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. | $82,743 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $447,689 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $63,935 |
| Payroll taxes | $61,964 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,979 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,861 |
| Office expenses | $11,410 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $138,186 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $16,518 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $101,729 |
| Insurance | $51,413 |
| All other expenses | $28,408 |
| Total functional expenses | $1,182,862 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,642 |
| Savings and temporary cash investments | $84,908 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $76,453 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $33,001 |
| Prepaid expenses and deferred charges | $16,205 |
| Net Land, buildings, and equipment | $1,783,662 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $8,026 |
| Other assets | $0 |
| Total assets | $2,035,897 |
| Accounts payable and accrued expenses | $145,102 |
| Grants payable | $0 |
| Deferred revenue | $81,333 |
| 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 | $442,516 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,265,500 |
| Total liabilities | $2,934,451 |
| Net assets without donor restrictions | -$898,554 |
| 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 | $2,035,897 |