Crescent Sail Yacht Club
- Assets
- $3.0m
- Revenue
- $544.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Grosse Pointe Farms, MI
- Founding
- 01/1946
- Data as of
- 10/2021
- EIN
- 38-0452730
Organization Overview
Crescent Sail Yacht Club is located in Grosse Pointe Farms, MI. The organization was established in 1946. According to its NTEE Classification (N50) the organization is classified as: Recreational Clubs, under the broad grouping of Recreation & Sports and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Crescent Sail 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 10/2021, Crescent Sail Yacht Club generated $544.0k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $389.3k during the year ending 10/2021. While expenses have increased by 1.8% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROVIDES A SAFE HARBOR FOR THE SUMMER USE OF SMALL BOATS. IN ADDITION, THE ORGANIZATION WORKS WITH SIMILAR ORGANIZATIONS TO SCHEDULE REGATTA SND RACING EVENTS THAT ARE USED TO TRAIN INDIVIDUALS ON WATER SAFETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES A SAFE HARBOR FOR THE SUMMER USE OF SMALL BOATS. IN ADDITION, THE ORGANIZATION WORKS WITH SIMILAR ORGANIZATIONS TO SCHEDULE REGATTA SND RACING EVENTS THAT ARE USED TO TRAIN INDIVIDUALS ON WATER SAFETY
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tim Moron Rear Commodore | Officer | 3 | $0 |
Ken Swetka Vice Commodore | Officer | 2 | $0 |
Timothy Pruss Commodore | Officer | 2 | $0 |
Rod Rask Secretary | Officer | 2 | $0 |
Glenn Currin Treasurer | Officer | 3 | $0 |
Gloria Barker Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $355,889 |
| Investment income | $105 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $543,950 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $5,462 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $71,264 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $24,431 |
| Interest | $38,634 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $119,250 |
| Insurance | $20,642 |
| All other expenses | $0 |
| Total functional expenses | $389,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,339 |
| Savings and temporary cash investments | $542,580 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,669 |
| Prepaid expenses and deferred charges | $2,175 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,032,215 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $800,870 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $800,870 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,231,345 |
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