Detroit Yacht Club
- Assets
- $9.2m
- Revenue
- $6.4m
- Investments
- $0.0
- Employees
- 217
- Location
- Detroit, MI
- Founding
- 02/1937
- Data as of
- 09/2023
- EIN
- 38-0482390
Organization Overview
Detroit Yacht Club is located in Detroit, MI. The organization was established in 1937. 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 09/2023, Detroit Yacht Club employed 217 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Detroit 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 09/2023, Detroit Yacht Club generated $6.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $5.5m during the year ending 09/2023. While expenses have increased by 5.4% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE BOATING AND SOCIAL ACTIVITIES FOR THE BENEFIT OF THE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL EXPENSES ARE INCURRED IN PROVIDING PLEASURE AND RECREATION TO ALL MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Girdler Commodore | OfficerTrustee | 0.1 | $0 |
Leonard Chapital Past Commodore | Trustee | 0.1 | $0 |
Hope Shovein Vice Commodore | OfficerTrustee | 0.1 | $0 |
Michael Thomas Rear Commodore | OfficerTrustee | 0.1 | $0 |
Michael Meinzinger Secretary | OfficerTrustee | 0.1 | $0 |
Ronald Dober Jr Treasurer | OfficerTrustee | 0.1 | $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 | $365,270 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $365,270 |
| Total Program Service Revenue | $4,408,329 |
| Investment income | $3,921 |
| 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 | $1,616,624 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,396,969 |
| 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 | $2,598,033 |
| Pension plan accruals and contributions | $126,172 |
| Other employee benefits | $413,646 |
| Payroll taxes | $339,323 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $66,253 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,925 |
| Fees for services: Other | $48,782 |
| Advertising and promotion | $53,928 |
| Office expenses | $106,157 |
| Information technology | $78,660 |
| Royalties | $0 |
| Occupancy | $332,103 |
| Travel | $3,931 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $12,773 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $329,906 |
| Insurance | $173,483 |
| All other expenses | $185,769 |
| Total functional expenses | $5,464,112 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,692,370 |
| Savings and temporary cash investments | $503,231 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,771,738 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $118,440 |
| Prepaid expenses and deferred charges | $44,405 |
| Net Land, buildings, and equipment | $5,060,167 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $9,190,351 |
| Accounts payable and accrued expenses | $384,060 |
| Grants payable | $0 |
| Deferred revenue | $793,368 |
| 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 | $230,340 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,407,768 |
| Net assets without donor restrictions | $7,782,583 |
| 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 | $9,190,351 |