Muskegon Yacht Club
- Assets
- $1.5m
- Revenue
- $789.0k
- Investments
- $0.0
- Employees
- 31
- Location
- Muskegon, MI
- Founding
- 12/1946
- Data as of
- 12/2023
- EIN
- 38-0861385
Organization Overview
Muskegon Yacht Club is located in Muskegon, 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. As of 12/2023, Muskegon Yacht Club employed 31 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Muskegon 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 12/2023, Muskegon Yacht Club generated $789.0k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $767.0k during the year ending 12/2023. While expenses have increased by 3.3% 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
ORGANIZATION SEEKS TO PROMOTE AND SPONSOR THE DEVELOPMENT OF NONCOMMERCIAL WATERCRAFT; PROVIDE & MAINTAIN CLUB FACILITIES AND SOCIAL QUARTERS FOR ITS MEMBERS; ORGANIZE AND PROMOTE REGATTAS AND BOAT RACES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINED DOCK AND SLIPS FOR MEMBERS - SERVED 81
OPERATED RESTAURANT FOR MEMBERS - SERVED 421 MEMBERS
CONDUCTED SOCIAL EVENTS, REGATTAS AND SAILING LESSONS FOR MEMBERS - SERVED 421 MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cathy Lindland-Young Rear Commodo | OfficerTrustee | 2 | $0 |
Kevin Moore Commodore | OfficerTrustee | 2 | $0 |
Jeff Blum Vice Commodo | OfficerTrustee | 2 | $0 |
Jessica Strecker Past Commodo | OfficerTrustee | 2 | $0 |
Karen Garvey Secretary | OfficerTrustee | 2 | $0 |
Larry Taunt Treasurer | OfficerTrustee | 2 | $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 | $55,213 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $55,213 |
| Total Program Service Revenue | $635,640 |
| Investment income | $1,186 |
| 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 | $96,636 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $789,048 |
| 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. | $128,368 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $94,509 |
| Pension plan accruals and contributions | $5,373 |
| Other employee benefits | $11,444 |
| Payroll taxes | $33,233 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,520 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,226 |
| Advertising and promotion | $6,550 |
| Office expenses | $40,777 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $120,520 |
| Travel | $304 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $52,388 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $123,977 |
| Insurance | $18,725 |
| All other expenses | -$43 |
| Total functional expenses | $767,016 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $527,716 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $253,066 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $28,020 |
| Prepaid expenses and deferred charges | $44,863 |
| Net Land, buildings, and equipment | $634,492 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,488,157 |
| Accounts payable and accrued expenses | $53,998 |
| Grants payable | $0 |
| Deferred revenue | $466,415 |
| 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 | $774,673 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $395 |
| Total liabilities | $1,295,481 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $192,676 |
| Total liabilities and net assets/fund balances | $1,488,157 |