Stonington Harbor Yacht Club Inc
- Assets
- $2.3m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 46
- Location
- Stonington, CT
- Founding
- 09/2002
- Data as of
- 12/2021
- 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 12/2021, Stonington Harbor Yacht Club Inc employed 46 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 12/2021, Stonington Harbor Yacht Club Inc generated $1.1m 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 (4.9%) each year. All expenses for the organization totaled $1.1m during the year ending 12/2021. 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
STONINGTON HARBOR YACHT CLUB IS A MEMBER ORGANIZATION PROMOTING EXCELLENCE IN BOATING THROUGHOUT THE COMMUNITY. THE CLUB OPERATES YEAR ROUND OFFERING A FULL RANGE OF BOATING ACTIVITIES AND EVENTS SUCH AS RACING, CRUISING, FISHING, KAYAKING, RELATED SOCIAL EVENTS, DOCK FACILITIES AND EXCLUSIVE DINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CLUB ARRANGES A WIDE VARIETY OF ON-THE-WATER ACTIVITIES THAT ARE BOTH RECREATIONAL AND COMPETITIVE IN NATURE. THESE INCLUDE RECREATIONAL SAILING FOR FAMILIES, WOMEN ONLY, AND YOUTH. THE CLUB ALSO HAS AN EXTENSIVE RACE PROGRAM. THE CLUB SUPPORTS SPECIAL OLYMPICS SAILING BY LOANING USE OF OUR IDEAL 18 FLEET FOR PRACTICE, AND FOR THE STATEWIDE SPECIAL OLYMPICS REGATTA. THE CLUB ALSO HAS AN ACTIVE CRUISING PROGRAM WITH A SIGNIFICANT OFFERING OF SHORT & LONG CRUISES DURING THE SAILING SEASON, AS WELL AS AN OAR & PADDLE PROGRAM WHERE KAYAKERS AND PADDLE-BOARDERS CAN SAFELY EXPLORE THE WATERS NEAR AND AROUND STONINGTON. THERE ARE ALSO SPECIFIC EVENTS ARRANGED FOR SMALL POWER BOATS, SUCH AS A FISHING TOURNAMENT, AND DAY TRIPS.
WATERFRONT ACCESS: THE CLUB PROVIDES MEMBERS WITH TEMPORARY WATERFRONT ACCESS BY RENTING THE WESTERN PERIMETER OF THE DOCKS IN FRONT OF THE CLUB HOUSE, AND BY PROVIDING A FLOAT WHICH IS ATTACHED TO THE NORTHEAST SECTION OF THESE SAME DOCKS, FOR USE BY THE OPTIMIST PRAMS. THIS ENABLES THE RACE COMMITTEE, THE RACERS, AND ALL MEMBERS WHO HAVE MOORINGS ELSEWHERE TO MOOR TEMPORARILY FOR CONVENIENCE AND LOGISTICS, AND FOR THE JUNIOR SAILORS TO ACCESS THE PRAMS WITHOUT HAVING TO TRAVEL TO A MOORING. THE DOCKS OFFER WATER & ELECTRICITY AND WELCOME VISITING YACHTSMEN FROM OTHER YACHT CLUBS WHO ARE ABLE TO STAY FOR SHORT PERIODS OF TIME OR OVERNIGHT IF DESIRED. THE CLUB OFFERS SHOWERS AND LAUNDRY FACILITIES.
THE CLUB HAS AN ACTIVE SOCIAL CALENDAR FOR ADULTS, JAN-DEC: YANKEE SWAP PARTY, SUPER BOWL PARTY, WEEKLY GAME NIGHTS, MOVIE NIGHTS, OPERA NIGHTS, MEMBERS' ART SHOWS, SEVERAL SEASONAL DINNER DANCES, INTER-CLUB EVENTS, PORTS OF CALL PARTIES, MEMBER TALENT NIGHTS, PLAYS, ANNUAL COMMISSIONING PARTY, CABARETS, KENTUCKY DERBY PARTY, SUMMER BBQ'S, DOCKSIDE BOAT PARTIES, FALL FARM FESTIVAL, ANNUAL AWARDS NIGHT DINNER, CLUB'S ANNIVERSARY PARTY, AND NEW YEARS EVE PARTY. THE JUNIOR COMMITTEE ORGANIZED BABY SITTERS IN THE CLUB EVERY FRIDAY AND SATURDAY EVENING AS WELL AS MOVIE NIGHTS, GAMES NIGHTS AND OTHER FUN ACTIVITIES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ann Baldelli Vice Commodo | OfficerTrustee | 4 | $0 |
Chris Errichetti Treasurer | OfficerTrustee | 10 | $0 |
Mike Linhares Rear Commodo | OfficerTrustee | 5 | $0 |
Sarah Starkweather Secretary | OfficerTrustee | 3 | $0 |
Michael Wiseman Commodore | OfficerTrustee | 25 | $0 |
Jay Benet Governor | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $664,247 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $107,332 |
| 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 | $771,579 |
| Total Program Service Revenue | $7,014 |
| Investment income | $420 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $27,846 |
| 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 | $258,955 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,066,596 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $431,155 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $25,777 |
| Payroll taxes | $51,208 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $60 |
| Fees for services: Accounting | $6,308 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,173 |
| Office expenses | $9,368 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $121,203 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $18,849 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $107,428 |
| Insurance | $55,556 |
| All other expenses | $61,608 |
| Total functional expenses | $1,060,298 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,107 |
| Savings and temporary cash investments | $2,543 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $119,932 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $24,285 |
| Prepaid expenses and deferred charges | $36,487 |
| Net Land, buildings, and equipment | $1,975,913 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $9,365 |
| Other assets | $107,332 |
| Total assets | $2,289,964 |
| Accounts payable and accrued expenses | $120,087 |
| Grants payable | $0 |
| Deferred revenue | $90,601 |
| 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 | $479,635 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,307,500 |
| Total liabilities | $2,997,823 |
| Net assets without donor restrictions | -$707,859 |
| 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 | $2,289,964 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Stonington Harbor Yacht Club Inc has recieved totaling $3,000.
| Awarding Organization | Amount |
|---|---|
Fromson Foundation Inc Stonington, CT PURPOSE: SUPPORT OF YOUTH TRAINING PROGRAM | $3,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Old Westbury Golf & Country Club Inc Old Westbury, NY | $24,637,751 | $16,881,231 |
Innis Arden Golf Club Inc Old Greenwich, CT | $33,992,814 | $14,860,228 |
Hudson National Golf Club Inc Croton On Hudson, NY | $51,687,185 | $12,086,027 |
Nantucket Golf Club Inc Siasconset, MA | $41,080,926 | $8,761,983 |
Great Harbor Yacht Club Inc Nantucket, MA | $67,641,341 | $7,821,481 |
Fisher Island Club Inc Fishers Island, NY | $26,382,427 | $9,842,592 |
Golf Club Of Marthas Vineyard Inc Edgartown, MA | $54,618,022 | $7,664,048 |
Noyac Golf Club Inc Sag Harbor, NY | $25,263,669 | $11,022,614 |
Greenwich Water Club Inc Cos Cob, CT | $34,734 | $8,500,732 |
Huntington Crescent Club Inc Huntington, NY | $18,101,805 | $9,571,803 |
Mill River Club Inc Oyster Bay, NY | $11,730,867 | $8,340,769 |
Oakley Country Club Watertown, MA | $19,643,392 | $9,027,669 |